Water Artisans Limited 11144459 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is to create and maintain natural swimming ponds, living pools and landscape water features. Digita Accounts Production Advanced 6.30.9574.0 true true 11144459 2023-02-01 2024-01-31 11144459 2024-01-31 11144459 bus:OrdinaryShareClass1 2024-01-31 11144459 bus:OrdinaryShareClass2 2024-01-31 11144459 core:CurrentFinancialInstruments 2024-01-31 11144459 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 11144459 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 11144459 core:FurnitureFittingsToolsEquipment 2024-01-31 11144459 core:MotorVehicles 2024-01-31 11144459 core:OtherPropertyPlantEquipment 2024-01-31 11144459 bus:SmallEntities 2023-02-01 2024-01-31 11144459 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 11144459 bus:FilletedAccounts 2023-02-01 2024-01-31 11144459 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11144459 bus:RegisteredOffice 2023-02-01 2024-01-31 11144459 bus:Director1 2023-02-01 2024-01-31 11144459 bus:Director2 2023-02-01 2024-01-31 11144459 bus:Director3 2023-02-01 2024-01-31 11144459 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 11144459 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 11144459 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11144459 core:FurnitureFittings 2023-02-01 2024-01-31 11144459 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 11144459 core:MotorCars 2023-02-01 2024-01-31 11144459 core:MotorVehicles 2023-02-01 2024-01-31 11144459 core:OfficeEquipment 2023-02-01 2024-01-31 11144459 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 11144459 core:PlantMachinery 2023-02-01 2024-01-31 11144459 countries:AllCountries 2023-02-01 2024-01-31 11144459 2023-01-31 11144459 core:FurnitureFittingsToolsEquipment 2023-01-31 11144459 core:MotorVehicles 2023-01-31 11144459 core:OtherPropertyPlantEquipment 2023-01-31 11144459 2022-02-01 2023-01-31 11144459 2023-01-31 11144459 bus:OrdinaryShareClass1 2023-01-31 11144459 bus:OrdinaryShareClass2 2023-01-31 11144459 core:CurrentFinancialInstruments 2023-01-31 11144459 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 11144459 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 11144459 core:FurnitureFittingsToolsEquipment 2023-01-31 11144459 core:MotorVehicles 2023-01-31 11144459 core:OtherPropertyPlantEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11144459

Water Artisans Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2024

 

Water Artisans Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Water Artisans Limited

Company Information

Directors

Mr B F Garner

Mrs S Garner

Mr S A Keel

Registered office

Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

Accountants

Spirare Limited
Chartered Certified Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

 

Water Artisans Limited

(Registration number: 11144459)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

146,657

68,977

Current assets

 

Stocks

5

49,898

22,200

Debtors

6

148,795

10,925

Cash at bank and in hand

 

77,250

87,564

 

275,943

120,689

Prepayments and accrued income

 

55,605

24,818

Creditors: Amounts falling due within one year

(204,880)

(124,402)

Net current assets

 

126,668

21,105

Total assets less current liabilities

 

273,325

90,082

Creditors: Amounts falling due after more than one year

(43,884)

(15,172)

Provisions for liabilities

(23,245)

(9,008)

Accruals and deferred income

 

(161,317)

(59,013)

Net assets

 

44,879

6,889

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

44,779

6,789

Shareholders' funds

 

44,879

6,889

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Water Artisans Limited

(Registration number: 11144459)
Abridged Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 19 August 2024 and signed on its behalf by:
 

.........................................
Mr B F Garner
Director

.........................................
Mrs S Garner
Director

.........................................
Mr S A Keel
Director

 

Water Artisans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

These financial statements were authorised for issue by the Board on 19 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Water Artisans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% Straight line

Fixtures and fittings

20% Straight line

Motor vehicles

20% Straight line

Office equipmnt

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Water Artisans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Water Artisans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 7).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

10,718

83,948

19,432

114,098

Additions

5,388

90,810

8,769

104,967

At 31 January 2024

16,106

174,758

28,201

219,065

Depreciation

At 1 February 2023

4,528

33,641

6,952

45,121

Charge for the year

2,568

20,071

4,648

27,287

At 31 January 2024

7,096

53,712

11,600

72,408

Carrying amount

At 31 January 2024

9,010

121,046

16,601

146,657

At 31 January 2023

6,190

50,307

12,480

68,977

5

Stocks

2024
£

2023
£

Other inventories

49,898

22,200

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

Allotted, called up and fully paid shares

 

Water Artisans Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

75

75

75

75

Ordinary B shares of £1 each

25

25

25

25

100

100

100

100