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Registered number: 03292538
The Water Services Group Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03292538
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 43,717 57,091
43,717 57,091
CURRENT ASSETS
Debtors 6 100,437 129,788
Cash at bank and in hand 6,387 118,034
106,824 247,822
Creditors: Amounts Falling Due Within One Year 7 (57,405 ) (50,545 )
NET CURRENT ASSETS (LIABILITIES) 49,419 197,277
TOTAL ASSETS LESS CURRENT LIABILITIES 93,136 254,368
Creditors: Amounts Falling Due After More Than One Year 8 (6,788 ) (11,313 )
NET ASSETS 86,348 243,055
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 86,248 242,955
SHAREHOLDERS' FUNDS 86,348 243,055
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P Hope Darby
Director
18 September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Water Services Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03292538 . The registered office is 9-11 Stratford Road, Shirley, Solihull, B90 3LU.
The presentation currency is pounds sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 10% on cost
Computer Equipment 20% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Intangible Assets
Other
£
Cost or Valuation
As at 1 March 2023 9,558
As at 29 February 2024 9,558
Amortisation
As at 1 March 2023 9,558
As at 29 February 2024 9,558
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 36,125 106,495 4,092 2,556 149,268
As at 29 February 2024 36,125 106,495 4,092 2,556 149,268
Depreciation
As at 1 March 2023 10,697 77,025 3,387 1,068 92,177
Provided during the period 5,086 7,368 409 511 13,374
As at 29 February 2024 15,783 84,393 3,796 1,579 105,551
...CONTINUED
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Net Book Value
As at 29 February 2024 20,342 22,102 296 977 43,717
As at 1 March 2023 25,428 29,470 705 1,488 57,091
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 88,987 95,239
Prepayments and accrued income - 805
Corporation tax recoverable assets - 15,789
VAT 1,110 -
Other taxes and social security 3,640 11,255
Amounts owed by associates 6,700 6,700
100,437 129,788
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,525 4,525
Trade creditors 36,593 35,987
VAT - 2,269
Accruals and deferred income 14,598 7,761
Director's loan account 1,689 3
57,405 50,545
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,788 11,313
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,525 4,525
Later than one year and not later than five years 6,788 11,313
11,313 15,838
11,313 15,838
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
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2024 2023
£ £
Mr P Hope Darby 7,200 9,650
12. Related Party Transactions
The director made an interest free loan to the company with a balance of £1,689 at the year-end (£3-2023).
The loan is interest free and repayable on demand.
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