IRIS Accounts Production v24.1.9.2 11706601 Board of Directors Board of Directors 1.12.22 30.11.23 30.11.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh117066012022-11-30117066012023-11-30117066012022-12-012023-11-30117066012021-11-30117066012021-12-012022-11-30117066012022-11-3011706601ns15:EnglandWales2022-12-012023-11-3011706601ns14:PoundSterling2022-12-012023-11-3011706601ns10:Director12022-12-012023-11-3011706601ns10:Director22022-12-012023-11-3011706601ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3011706601ns10:SmallEntities2022-12-012023-11-3011706601ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3011706601ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3011706601ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3011706601ns10:FullAccounts2022-12-012023-11-301170660112022-12-012023-11-3011706601ns10:CompanySecretary12022-12-012023-11-3011706601ns10:RegisteredOffice2022-12-012023-11-3011706601ns5:CurrentFinancialInstruments2023-11-3011706601ns5:CurrentFinancialInstruments2022-11-3011706601ns5:Non-currentFinancialInstruments2023-11-3011706601ns5:Non-currentFinancialInstruments2022-11-3011706601ns5:ShareCapital2023-11-3011706601ns5:ShareCapital2022-11-3011706601ns5:RetainedEarningsAccumulatedLosses2023-11-3011706601ns5:RetainedEarningsAccumulatedLosses2022-11-3011706601ns5:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3011706601ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-012023-11-3011706601ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-012023-11-3011706601ns5:PlantMachinery2022-12-012023-11-3011706601ns5:MotorVehicles2022-12-012023-11-3011706601ns5:ComputerEquipment2022-12-012023-11-3011706601ns5:PatentsTrademarksLicencesConcessionsSimilar2022-11-3011706601ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-11-3011706601ns5:PatentsTrademarksLicencesConcessionsSimilar2023-11-3011706601ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-11-3011706601ns5:PatentsTrademarksLicencesConcessionsSimilar2022-11-3011706601ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-11-3011706601ns5:PlantMachinery2022-11-3011706601ns5:MotorVehicles2022-11-3011706601ns5:ComputerEquipment2022-11-3011706601ns5:PlantMachinery2023-11-3011706601ns5:MotorVehicles2023-11-3011706601ns5:ComputerEquipment2023-11-3011706601ns5:PlantMachinery2022-11-3011706601ns5:MotorVehicles2022-11-3011706601ns5:ComputerEquipment2022-11-3011706601ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-11-3011706601ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3011706601ns5:Non-currentFinancialInstruments2022-12-012023-11-3011706601ns5:RetainedEarningsAccumulatedLosses2022-11-3011706601ns5:RetainedEarningsAccumulatedLosses2022-12-012023-11-30
REGISTERED NUMBER: 11706601 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

H2OIQ Ltd

H2OIQ Ltd (Registered number: 11706601)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H2OIQ Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: R J Butler
A J Rice





SECRETARY: Mrs K T Butler





REGISTERED OFFICE: The Chapelry
Walkers Lane
Whittington
Worcestershire
WR5 2RD





REGISTERED NUMBER: 11706601 (England and Wales)





ACCOUNTANTS: dhjh Tenbury Wells LLP
Chartered Certified Accountants
81 Teme Street
Tenbury Wells
WR15 8AE

H2OIQ Ltd (Registered number: 11706601)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,517 6,620
Property, plant and equipment 5 91,868 39,366
97,385 45,986

CURRENT ASSETS
Inventories 130,357 70,875
Debtors 6 230,288 148,603
Cash at bank and in hand 30,563 16,156
391,208 235,634
CREDITORS
Amounts falling due within one year 7 147,565 105,966
NET CURRENT ASSETS 243,643 129,668
TOTAL ASSETS LESS CURRENT
LIABILITIES

341,028

175,654

CREDITORS
Amounts falling due after more than one
year

8

(256,172

)

(261,792

)

PROVISIONS FOR LIABILITIES (12,946 ) (5,229 )
NET ASSETS/(LIABILITIES) 71,910 (91,367 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 71,810 (91,467 )
71,910 (91,367 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

H2OIQ Ltd (Registered number: 11706601)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:




R J Butler - Director



A J Rice - Director


H2OIQ Ltd (Registered number: 11706601)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

H2OIQ Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 5 ) .

H2OIQ Ltd (Registered number: 11706601)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Patents
and Development
licences costs Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 2,000 9,035 11,035
AMORTISATION
At 1 December 2022 800 3,615 4,415
Amortisation for year 200 903 1,103
At 30 November 2023 1,000 4,518 5,518
NET BOOK VALUE
At 30 November 2023 1,000 4,517 5,517
At 30 November 2022 1,200 5,420 6,620

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 3,206 49,790 2,218 55,214
Additions 1,874 78,479 3,267 83,620
At 30 November 2023 5,080 128,269 5,485 138,834
DEPRECIATION
At 1 December 2022 1,315 12,447 2,086 15,848
Charge for year 941 28,956 1,221 31,118
At 30 November 2023 2,256 41,403 3,307 46,966
NET BOOK VALUE
At 30 November 2023 2,824 86,866 2,178 91,868
At 30 November 2022 1,891 37,343 132 39,366

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 207,523 145,092
Other debtors 20,966 3,511
Prepayments 1,799 -
230,288 148,603

H2OIQ Ltd (Registered number: 11706601)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5 5
Hire purchase contracts 24,387 13,322
Trade creditors 48,375 45,367
Tax 5,273 -
Social security and other taxes 7,396 1,723
VAT 41,202 5,459
Other creditors 6,850 712
Factoring account liability - 31,614
Pension account 482 100
Directors' current accounts 10,115 6,664
Accrued expenses 3,480 1,000
147,565 105,966

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Included in creditors due after more than one year is £203,687 of Director's loan account. This will not be repaid until such time as is financially viable.

9. RESERVES
Retained
earnings
£   

At 1 December 2022 (91,467 )
Profit for the year 163,277
At 30 November 2023 71,810