Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false72023-01-01falseNo description of principal activity8trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10344786 2023-01-01 2023-12-31 10344786 2022-01-01 2022-12-31 10344786 2023-12-31 10344786 2022-12-31 10344786 c:Director1 2023-01-01 2023-12-31 10344786 d:PlantMachinery 2023-01-01 2023-12-31 10344786 d:PlantMachinery 2023-12-31 10344786 d:PlantMachinery 2022-12-31 10344786 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10344786 d:MotorVehicles 2023-01-01 2023-12-31 10344786 d:MotorVehicles 2023-12-31 10344786 d:MotorVehicles 2022-12-31 10344786 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10344786 d:OfficeEquipment 2023-01-01 2023-12-31 10344786 d:OfficeEquipment 2023-12-31 10344786 d:OfficeEquipment 2022-12-31 10344786 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10344786 d:ComputerEquipment 2023-01-01 2023-12-31 10344786 d:ComputerEquipment 2023-12-31 10344786 d:ComputerEquipment 2022-12-31 10344786 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10344786 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10344786 d:CurrentFinancialInstruments 2023-12-31 10344786 d:CurrentFinancialInstruments 2022-12-31 10344786 d:Non-currentFinancialInstruments 2023-12-31 10344786 d:Non-currentFinancialInstruments 2022-12-31 10344786 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10344786 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10344786 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10344786 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10344786 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 10344786 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 10344786 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 10344786 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 10344786 d:ShareCapital 2023-12-31 10344786 d:ShareCapital 2022-12-31 10344786 d:RetainedEarningsAccumulatedLosses 2023-12-31 10344786 d:RetainedEarningsAccumulatedLosses 2022-12-31 10344786 c:OrdinaryShareClass1 2023-01-01 2023-12-31 10344786 c:OrdinaryShareClass1 2023-12-31 10344786 c:OrdinaryShareClass1 2022-12-31 10344786 c:FRS102 2023-01-01 2023-12-31 10344786 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10344786 c:FullAccounts 2023-01-01 2023-12-31 10344786 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10344786 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 10344786 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 10344786 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 10344786 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 10344786 d:HirePurchaseContracts d:MoreThanFiveYears 2023-12-31 10344786 d:HirePurchaseContracts d:MoreThanFiveYears 2022-12-31 10344786 2 2023-01-01 2023-12-31 10344786 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 10344786 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 10344786 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 10344786 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 10344786 d:LeasedAssetsHeldAsLessee 2023-12-31 10344786 d:LeasedAssetsHeldAsLessee 2022-12-31 10344786 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10344786










SAFE WATER IO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SAFE WATER IO LIMITED
REGISTERED NUMBER: 10344786

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
203,743
21,894

  
203,743
21,894

Current assets
  

Debtors: amounts falling due within one year
 5 
106,149
67,976

Cash at bank and in hand
 6 
142,298
59,567

  
248,447
127,543

Creditors: amounts falling due within one year
 7 
(148,527)
(74,958)

Net current assets
  
 
 
99,920
 
 
52,585

Total assets less current liabilities
  
303,663
74,479

Creditors: amounts falling due after more than one year
 8 
(166,748)
(31,671)

  

Net assets
  
136,915
42,808


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
  
136,914
42,807

  
136,915
42,808


Page 1

 
SAFE WATER IO LIMITED
REGISTERED NUMBER: 10344786
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J Finn
Director

Date: 28 August 2024

Page 2

 
SAFE WATER IO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Safe Water IO Limited is a private company, limited by shares, incorporated in England and Wales, registration number 10344786. The registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in £ sterling, the functional currency, rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
SAFE WATER IO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
SAFE WATER IO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
Motor vehicles
-
25%
straight line
Office equipment
-
20%
straight line
Computer equipment
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
SAFE WATER IO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 6

 
SAFE WATER IO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 8).

Page 7

 
SAFE WATER IO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
-
21,487
3,281
4,452
29,220


Additions
120,789
68,768
10,390
1,897
201,844



At 31 December 2023

120,789
90,255
13,671
6,349
231,064



Depreciation


At 1 January 2023
-
3,953
2,150
1,223
7,326


Charge for the year
9,059
9,225
788
923
19,995



At 31 December 2023

9,059
13,178
2,938
2,146
27,321



Net book value



At 31 December 2023
111,730
77,077
10,733
4,203
203,743



At 31 December 2022
-
17,534
1,131
3,229
21,894

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
111,730
-

Motor vehicles
64,915
-

176,645
-

Page 8

 
SAFE WATER IO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
103,056
62,241

Other debtors
-
2,914

Prepayments and accrued income
3,093
2,821

106,149
67,976



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
142,298
59,567



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
8,807
3,240

Corporation tax
38,244
10,715

Other taxation and social security
33,940
28,261

Obligations under finance lease and hire purchase contracts
17,364
-

Other creditors
13,517
14,942

Accruals and deferred income
26,655
7,800

148,527
74,958


Net obligations under hire purchase contracts of £17,364 (2022: £Nil) are secured on assets to which they relate.

Page 9

 
SAFE WATER IO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,667
31,671

Net obligations under finance leases and hire purchase contracts
145,081
-

166,748
31,671


Net obligations under hire purchase contracts of £145,081 (2022: £Nil) are secured on assets to which they relate. 


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
11,667
21,671

31,667
41,671



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
17,365
-

Between 1-5 years
89,518
-

Over 5 years
55,562
-

162,445
-

Page 10

 
SAFE WATER IO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary A shares of £0.01 each
1
1



12.


Transactions with directors

During the year, the company made advances totalling £71,575 to J Finn, a director, and received credits of £64,469. Interest of £Nil (2022: £642) has been charged at commercial rates on the overdrawn balance. As at 31 December 2023, J Finn was owed £5,765 (2022: £12,871) from the company. This loan is unsecured and repayable on demand.
During the year, the company made advances totalling £36,640 to S E Finn, a director, and received credits of £41,926. As at 31 December 2023, S E Finn was owed £5,886 (2022: £600) from the company. This loan is unsecured, interest free and repayable on demand.

 
Page 11