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REGISTERED NUMBER: 01792032 (England and Wales)












Financial Statements

for the Year Ended 31st December 2023

for

WATERSIDE LABORATORIES LIMITED

WATERSIDE LABORATORIES LIMITED (REGISTERED NUMBER: 01792032)

Contents of the Financial Statements
for the year ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WATERSIDE LABORATORIES LIMITED

Company Information
for the year ended 31st December 2023







DIRECTORS: P A Salmon
C P Smith





REGISTERED OFFICE: Unit 39 South Hampshire Industrial Park
Totton
Southampton
Hampshire
SO40 3SA





REGISTERED NUMBER: 01792032 (England and Wales)





ACCOUNTANTS: Attenboroughs (Accountants) Limited
Chartered Certified Accountants
1 Tower House
Tower Centre
Hoddesdon
Hertfordshire
EN11 8UR

WATERSIDE LABORATORIES LIMITED (REGISTERED NUMBER: 01792032)

Balance Sheet
31st December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,073 295
Tangible assets 5 947,965 1,021,780
Investments 6 - 1
949,038 1,022,076

CURRENT ASSETS
Stocks 7 453,677 470,380
Debtors 8 748,875 710,497
Cash at bank 34 8,159
1,202,586 1,189,036
CREDITORS
Amounts falling due within one year 9 331,978 292,023
NET CURRENT ASSETS 870,608 897,013
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,819,646

1,919,089

CREDITORS
Amounts falling due after more than one year 10 (85,000 ) (194,067 )

PROVISIONS FOR LIABILITIES (135,077 ) (121,117 )
NET ASSETS 1,599,569 1,603,905

CAPITAL AND RESERVES
Called up share capital 12 10,000 10,000
Revaluation reserve 13 215,795 215,795
Retained earnings 13 1,373,774 1,378,110
SHAREHOLDERS' FUNDS 1,599,569 1,603,905

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

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

WATERSIDE LABORATORIES LIMITED (REGISTERED NUMBER: 01792032)

Balance Sheet - continued
31st 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd May 2024 and were signed on its behalf by:





P A Salmon - Director


WATERSIDE LABORATORIES LIMITED (REGISTERED NUMBER: 01792032)

Notes to the Financial Statements
for the year ended 31st December 2023


1. STATUTORY INFORMATION

Waterside Laboratories Limited 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
Turnover 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.

Trademarks are being amortised evenly over their estimated useful life of nil years.

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.
Long leasehold - Over the period of the lease
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


WATERSIDE LABORATORIES LIMITED (REGISTERED NUMBER: 01792032)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


2. ACCOUNTING POLICIES - continued
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.

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 26 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Trademarks
£   
COST
At 1st January 2023 325
Additions 900
At 31st December 2023 1,225
AMORTISATION
At 1st January 2023 30
Amortisation for year 122
At 31st December 2023 152
NET BOOK VALUE
At 31st December 2023 1,073
At 31st December 2022 295

WATERSIDE LABORATORIES LIMITED (REGISTERED NUMBER: 01792032)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 475,000 1,941,608 23,846 40,346 2,480,800
Additions - 10,364 - 1,767 12,131
Disposals - (15,995 ) - - (15,995 )
At 31st December 2023 475,000 1,935,977 23,846 42,113 2,476,936
DEPRECIATION
At 1st January 2023 1,474 1,405,667 15,288 36,591 1,459,020
Charge for year 491 81,700 1,283 829 84,303
Eliminated on disposal - (14,352 ) - - (14,352 )
At 31st December 2023 1,965 1,473,015 16,571 37,420 1,528,971
NET BOOK VALUE
At 31st December 2023 473,035 462,962 7,275 4,693 947,965
At 31st December 2022 473,526 535,941 8,558 3,755 1,021,780

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st January 2023
and 31st December 2023 143,007
DEPRECIATION
At 1st January 2023 21,451
Charge for year 18,234
At 31st December 2023 39,685
NET BOOK VALUE
At 31st December 2023 103,322
At 31st December 2022 121,556

WATERSIDE LABORATORIES LIMITED (REGISTERED NUMBER: 01792032)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023 1
Disposals (1 )
At 31st December 2023 -
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 1

7. STOCKS
31/12/23 31/12/22
£    £   
Stocks 447,377 470,380
Work-in-progress 6,300 -
453,677 470,380

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 218,298 218,384
Amounts owed by group undertakings 506,917 426,089
Other debtors 4,967 5,607
Prepayments 18,693 60,417
748,875 710,497

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts (see note 11) 145,215 104,406
Hire purchase contracts 49,067 56,072
Trade creditors 53,449 52,890
Tax 3,440 15
Social security and other taxes 19,267 17,640
VAT 45,807 42,236
Other creditors - 262
Accrued expenses 15,733 18,502
331,978 292,023

WATERSIDE LABORATORIES LIMITED (REGISTERED NUMBER: 01792032)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans (see note 11) 85,000 145,000
Hire purchase contracts - 49,067
85,000 194,067

11. LOANS

An analysis of the maturity of loans is given below:

31/12/23 31/12/22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 85,215 44,406
Bank loans 60,000 60,000
145,215 104,406

Amounts falling due between one and two years:
Bank loans - 1-2 years 60,000 60,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 25,000 85,000

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
10,000 Ordinary £1 10,000 10,000

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st January 2023 1,378,110 215,795 1,593,905
Deficit for the year (4,336 ) (4,336 )
At 31st December 2023 1,373,774 215,795 1,589,569

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors by virtue of their shareholding.