Silverfin false false 31/03/2024 01/04/2023 31/03/2024 J S Hooker 17/10/1996 N J Stantiford 12/09/1996 K J Taylor 25/10/2023 10/03/2005 K M Turner 10/03/2005 24 September 2024 The principal activity of the company is designers and builders of aquarium displays, glazed vessels and GRP fabrication. 03240347 2024-03-31 03240347 bus:Director1 2024-03-31 03240347 bus:Director2 2024-03-31 03240347 bus:Director3 2024-03-31 03240347 bus:Director4 2024-03-31 03240347 2023-03-31 03240347 core:CurrentFinancialInstruments 2024-03-31 03240347 core:CurrentFinancialInstruments 2023-03-31 03240347 core:Non-currentFinancialInstruments 2024-03-31 03240347 core:Non-currentFinancialInstruments 2023-03-31 03240347 core:ShareCapital 2024-03-31 03240347 core:ShareCapital 2023-03-31 03240347 core:SharePremium 2024-03-31 03240347 core:SharePremium 2023-03-31 03240347 core:OtherCapitalReserve 2024-03-31 03240347 core:OtherCapitalReserve 2023-03-31 03240347 core:RetainedEarningsAccumulatedLosses 2024-03-31 03240347 core:RetainedEarningsAccumulatedLosses 2023-03-31 03240347 core:LandBuildings 2023-03-31 03240347 core:PlantMachinery 2023-03-31 03240347 core:Vehicles 2023-03-31 03240347 core:OfficeEquipment 2023-03-31 03240347 core:LandBuildings 2024-03-31 03240347 core:PlantMachinery 2024-03-31 03240347 core:Vehicles 2024-03-31 03240347 core:OfficeEquipment 2024-03-31 03240347 2023-04-01 2024-03-31 03240347 bus:FilletedAccounts 2023-04-01 2024-03-31 03240347 bus:SmallEntities 2023-04-01 2024-03-31 03240347 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03240347 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03240347 bus:Director1 2023-04-01 2024-03-31 03240347 bus:Director2 2023-04-01 2024-03-31 03240347 bus:Director3 2023-04-01 2024-03-31 03240347 bus:Director4 2023-04-01 2024-03-31 03240347 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 03240347 core:PlantMachinery core:TopRangeValue 2023-04-01 2024-03-31 03240347 core:Vehicles core:TopRangeValue 2023-04-01 2024-03-31 03240347 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 03240347 2021-10-01 2023-03-31 03240347 core:LandBuildings 2023-04-01 2024-03-31 03240347 core:PlantMachinery 2023-04-01 2024-03-31 03240347 core:Vehicles 2023-04-01 2024-03-31 03240347 core:OfficeEquipment 2023-04-01 2024-03-31 03240347 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 03240347 (England and Wales)

AQUARIUM TECHNOLOGY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

AQUARIUM TECHNOLOGY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

AQUARIUM TECHNOLOGY LIMITED

BALANCE SHEET

As at 31 March 2024
AQUARIUM TECHNOLOGY LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.03.2023
£ £
Fixed assets
Tangible assets 3 38,054 29,630
38,054 29,630
Current assets
Stocks 4 73,793 29,751
Debtors 5 480,201 427,345
Cash at bank and in hand 193,115 328,895
747,109 785,991
Creditors: amounts falling due within one year 6 ( 574,606) ( 572,923)
Net current assets 172,503 213,068
Total assets less current liabilities 210,557 242,698
Creditors: amounts falling due after more than one year 7 ( 41,667) ( 61,667)
Provision for liabilities 0 ( 7,466)
Net assets 168,890 173,565
Capital and reserves
Called-up share capital 362,400 362,400
Share premium account 5,990 5,990
Other reserves ( 2,106 ) ( 2,106 )
Profit and loss account ( 197,394 ) ( 192,719 )
Total shareholders' funds 168,890 173,565

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Aquarium Technology Limited (registered number: 03240347) were approved and authorised for issue by the Board of Directors on 24 September 2024. They were signed on its behalf by:

K M Turner
Director
AQUARIUM TECHNOLOGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
AQUARIUM TECHNOLOGY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Aquarium Technology Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 18 Cumberland Drive Granby Industrial Estate, Weymouth, DT4 9TB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Plant and machinery 5 years straight line
Vehicles 5 years straight line
Office equipment 4 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
31.03.2024
Period from
01.10.2021 to
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 16

3. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 37,817 60,284 64,259 23,886 186,246
Additions 17,157 799 0 0 17,956
At 31 March 2024 54,974 61,083 64,259 23,886 204,202
Accumulated depreciation
At 01 April 2023 12,464 57,887 64,250 22,015 156,616
Charge for the financial year 7,589 1,138 9 796 9,532
At 31 March 2024 20,053 59,025 64,259 22,811 166,148
Net book value
At 31 March 2024 34,921 2,058 0 1,075 38,054
At 31 March 2023 25,353 2,397 9 1,871 29,630

4. Stocks

31.03.2024 31.03.2023
£ £
Stocks 51,486 0
Work in progress 22,307 29,751
73,793 29,751

5. Debtors

31.03.2024 31.03.2023
£ £
Trade debtors 395,264 313,871
Prepayments 84,937 113,474
480,201 427,345

6. Creditors: amounts falling due within one year

31.03.2024 31.03.2023
£ £
Bank loans 20,000 20,000
Trade creditors 155,674 127,007
Accruals and deferred income 353,941 372,193
Other taxation and social security 39,542 39,454
Other creditors 5,449 14,269
574,606 572,923

7. Creditors: amounts falling due after more than one year

31.03.2024 31.03.2023
£ £
Bank loans 41,667 61,667

There are no amounts included above in respect of which any security has been given by the small entity.

8. Financial commitments

Commitments

Capital commitments are as follows:

31.03.2024 31.03.2023
£ £
Contracted for but not provided for:
Finance leases entered into 326,697 409,838

The commitment relates to a non-cancellable operating lease in respect of the company's leasehold property.