Company Registration No. 09070963 (England and Wales)
AQUAVITA II UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
AQUAVITA II UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AQUAVITA II UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
2,401,122
2,401,122
Current assets
Debtors
5
181,402
200,083
Cash at bank and in hand
2,620
5,862
184,022
205,945
Creditors: amounts falling due within one year
6
(2,372,940)
(2,512,765)
Net current liabilities
(2,188,918)
(2,306,820)
Total assets less current liabilities
212,204
94,302
Capital and reserves
Called up share capital
319,163
319,163
Profit and loss reserves
(106,959)
(224,861)
Total equity
212,204
94,302

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 30 September 2024
J N Kaggwa
Director
Company Registration No. 09070963
AQUAVITA II UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Aquavita II UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

All the company's assets are basic financial assets, including trade and other receivables and cash and bank balances. These are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

AQUAVITA II UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

All the company's financial liabilities have been classified as basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt. These are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
2,401,122
2,401,122
AQUAVITA II UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 January 2023 & 31 December 2023
2,401,122
Carrying amount
At 31 December 2023
2,401,122
At 31 December 2022
2,401,122
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Aquavita Limited
1
Preference
99.00
Aquavita Limited
2
Preference
99.00
Pristine Water Limited
3
Preference
99.98

Registered office addresses (all UK unless otherwise indicated):

1
Premier Industrial Park, Baba Dogo Road, P.O Box 13561 - 00800, Nairobi, Kenya
2
369 Tourse Drive, Kilwa House, Kinondoni, Dar es Salaam, Tanzania
3
Plot 110 Lutaya Road, Bukoto, Nakawa Division, Kampala, Uganda
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
113
Amounts owed by group undertakings
181,402
199,970
181,402
200,083
AQUAVITA II UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,845
3,383
Amounts owed to group undertakings
2,364,930
2,503,676
Corporation tax
2,148
2,200
Accruals and deferred income
4,017
3,506
2,372,940
2,512,765
7
Parent company

The company is a wholly owned subsidiary of Aquavita Holdings, a company registered at PO Box 2681, Cricket Square, Hutchins Drive, Grand Cayman, KY1-1111, Cayman Islands.

 

The company accounts are consolidated within the group accounts of Aquavita Holdings.

2023-12-312023-01-01false01 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityJ N Kaggwafalsefalse090709632023-01-012023-12-31090709632023-12-31090709632022-12-3109070963core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3109070963core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3109070963core:CurrentFinancialInstruments2023-12-3109070963core:CurrentFinancialInstruments2022-12-3109070963core:ShareCapital2023-12-3109070963core:ShareCapital2022-12-3109070963core:RetainedEarningsAccumulatedLosses2023-12-3109070963core:RetainedEarningsAccumulatedLosses2022-12-3109070963bus:Director12023-01-012023-12-31090709632022-01-012022-12-3109070963core:Subsidiary22023-01-012023-12-310907096312023-01-012023-12-310907096322023-01-012023-12-3109070963bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109070963bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109070963bus:FRS1022023-01-012023-12-3109070963bus:AuditExemptWithAccountantsReport2023-01-012023-12-3109070963bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP