Registered number
11242110
AQUA ENVIRONMENTAL SERVICES LTD
Unaudited Filleted Accounts
31 December 2023
AQUA ENVIRONMENTAL SERVICES LTD
Registered number: 11242110
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 135,385 87,939
Current assets
Stocks 4,000 6,000
Debtors 4 166,528 105,542
Cash at bank and in hand 90,502 38,466
261,030 150,008
Creditors: amounts falling due within one year 5 (203,726) (102,950)
Net current assets 57,304 47,058
Total assets less current liabilities 192,689 134,997
Creditors: amounts falling due after more than one year 6 (41,370) (36,382)
Net assets 151,319 98,615
Capital and reserves
Called up share capital 100 16
Profit and loss account 151,219 98,599
Shareholders' funds 151,319 98,615
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Bull
Director
Approved by the board on 23 September 2024
AQUA ENVIRONMENTAL SERVICES LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 20% Written Down Value
Fixtures, fittings, tools and equipment 15 % Written Down Value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 13 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 51,981 82,686 134,667
Additions 11,374 81,839 93,213
Disposals - (37,565) (37,565)
At 31 December 2023 63,355 126,960 190,315
Depreciation
At 1 January 2023 15,078 31,650 46,728
Charge for the year 7,241 23,587 30,828
On disposals - (22,626) (22,626)
At 31 December 2023 22,319 32,611 54,930
Net book value
At 31 December 2023 41,036 94,349 135,385
At 31 December 2022 36,903 51,036 87,939
4 Debtors 2023 2022
£ £
Trade debtors 164,394 101,784
Other debtors 2,134 3,758
166,528 105,542
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,400 5,520
Obligations under finance lease and hire purchase contracts 60,783 14,998
Trade creditors 24,590 3,447
Taxation and social security costs 86,118 55,261
Other creditors 26,835 23,724
203,726 102,950
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 6,402 11,651
Obligations under finance lease and hire purchase contracts 34,968 24,731
41,370 36,382
7 Other information
AQUA ENVIRONMENTAL SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 10 Crusader Business Park
Stephenson Road
Clacton on Sea
Essex
CO15 4TN
AQUA ENVIRONMENTAL SERVICES LTD 11242110 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 Mr J Bull No description of principal activity 11242110 2022-01-01 2022-12-31 11242110 core:WithinOneYear 2022-12-31 11242110 core:AfterOneYear 2022-12-31 11242110 core:ShareCapital 2022-12-31 11242110 core:RetainedEarningsAccumulatedLosses 2022-12-31 11242110 2023-01-01 2023-12-31 11242110 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11242110 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11242110 bus:Director40 2023-01-01 2023-12-31 11242110 1 2023-01-01 2023-12-31 11242110 2 2023-01-01 2023-12-31 11242110 core:PlantMachinery 2023-01-01 2023-12-31 11242110 core:Vehicles 2023-01-01 2023-12-31 11242110 countries:England 2023-01-01 2023-12-31 11242110 bus:FRS102 2023-01-01 2023-12-31 11242110 bus:FilletedAccounts 2023-01-01 2023-12-31 11242110 2023-12-31 11242110 core:WithinOneYear 2023-12-31 11242110 core:AfterOneYear 2023-12-31 11242110 core:ShareCapital 2023-12-31 11242110 core:RetainedEarningsAccumulatedLosses 2023-12-31 11242110 core:PlantMachinery 2023-12-31 11242110 core:Vehicles 2023-12-31 11242110 2022-12-31 11242110 core:PlantMachinery 2022-12-31 11242110 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure