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REGISTERED NUMBER: 04602151 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

H2O (NW) Limited

H2O (NW) Limited (Registered number: 04602151)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


H2O (NW) Limited (Registered number: 04602151)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 254,991 314,485

CURRENT ASSETS
Stocks 74,447 124,755
Debtors 5 1,674,300 1,716,246
Cash at bank and in hand 624,064 358,956
2,372,811 2,199,957
CREDITORS
Amounts falling due within one year 6 1,310,472 1,110,709
NET CURRENT ASSETS 1,062,339 1,089,248
TOTAL ASSETS LESS CURRENT LIABILITIES 1,317,330 1,403,733

CREDITORS
Amounts falling due after more than one year 7 (83,347 ) (173,601 )

PROVISIONS FOR LIABILITIES (26,294 ) (27,216 )
NET ASSETS 1,207,689 1,202,916

CAPITAL AND RESERVES
Called up share capital 600 600
Capital redemption reserve 400 400
Retained earnings 1,206,689 1,201,916
SHAREHOLDERS' FUNDS 1,207,689 1,202,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

H2O (NW) Limited (Registered number: 04602151)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:




J L Woolvine - Director



P V Rowlands - Director


H2O (NW) Limited (Registered number: 04602151)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

H2O (NW) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04602151

Registered office: Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE

The presentation currency of the financial statements is the Pound Sterling (£).


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

Revenue is recognised as the company becomes entitled to consideration for the services supplied.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Office equipment - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks 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 Profit and Loss Account, 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.

H2O (NW) Limited (Registered number: 04602151)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 48 (2022 - 51 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Office Plant and and
equipment machinery fittings
£    £    £   
COST
At 1 January 2023 17,551 18,835 83,094
Additions - 984 -
Disposals - - -
At 31 December 2023 17,551 19,819 83,094
DEPRECIATION
At 1 January 2023 12,991 10,057 53,824
Charge for year 684 1,464 4,390
Eliminated on disposal - - -
At 31 December 2023 13,675 11,521 58,214
NET BOOK VALUE
At 31 December 2023 3,876 8,298 24,880
At 31 December 2022 4,560 8,778 29,270

H2O (NW) Limited (Registered number: 04602151)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 624,446 50,449 794,375
Additions 20,500 1,100 22,584
Disposals (19,640 ) - (19,640 )
At 31 December 2023 625,306 51,549 797,319
DEPRECIATION
At 1 January 2023 357,110 45,908 479,890
Charge for year 71,387 1,862 79,787
Eliminated on disposal (17,349 ) - (17,349 )
At 31 December 2023 411,148 47,770 542,328
NET BOOK VALUE
At 31 December 2023 214,158 3,779 254,991
At 31 December 2022 267,336 4,541 314,485

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 338,540
Transfer to ownership (50,929 )
At 31 December 2023 287,611
DEPRECIATION
At 1 January 2023 114,239
Charge for year 52,047
Transfer to ownership (34,814 )
At 31 December 2023 131,472
NET BOOK VALUE
At 31 December 2023 156,139
At 31 December 2022 224,301

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,636,242 1,586,785
Other debtors 38,058 129,461
1,674,300 1,716,246

H2O (NW) Limited (Registered number: 04602151)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 78,355 49,476
Trade creditors 722,325 816,651
Amounts owed to group undertakings 120,000 -
Taxation and social security 290,457 159,865
Other creditors 89,335 74,717
1,310,472 1,110,709

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 18,253 28,253
Hire purchase contracts 65,094 145,348
83,347 173,601

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 143,449 194,824

Hire purchase creditors are secured on the related fixed assets.

9. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £74,963 (2022 £76,444). This financial commitment represents the total amount of payments remaining on leases which have end dates ranging from June 2023 to May 2027.

10. ULTIMATE CONTROLLING PARTY

The company's parent undertaking is H2O (NW) Holdings Ltd. The company's ultimate controlling party is Mr Woolvine by virtue of his majority shareholding in H2O (NW) Holdings Ltd.