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Registered number: 05052113
Absolute Water Limited
Financial Statements
For The Year Ended 30 April 2024
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of Absolute Water Limited For The Year Ended 30 April 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Absolute Water Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Absolute Water Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Absolute Water Limited and state those matters that we have agreed to state to the director of Absolute Water Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Absolute Water Limited and its director as a body for our work or for this report.
It is your duty to ensure that Absolute Water Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Absolute Water Limited . You consider that Absolute Water Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Absolute Water Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
CKR Accountants
15 October 2024
C K R
Chartered Certified Accountants
C K R House
70 East Hill
Dartford
Kent
DA1 1RZ
Page 1
Page 2
Balance Sheet
Registered number: 05052113
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,620 6,161
4,620 6,161
CURRENT ASSETS
Stocks 5 4,820 6,180
Debtors 6 108,492 81,758
Cash at bank and in hand 129,610 166,694
242,922 254,632
Creditors: Amounts Falling Due Within One Year 7 (61,719 ) (79,900 )
NET CURRENT ASSETS (LIABILITIES) 181,203 174,732
TOTAL ASSETS LESS CURRENT LIABILITIES 185,823 180,893
Creditors: Amounts Falling Due After More Than One Year 8 (3,211 ) (5,185 )
NET ASSETS 182,612 175,708
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 182,512 175,608
SHAREHOLDERS' FUNDS 182,612 175,708
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Page 3
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Hunt
Director
15 October 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Absolute Water Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05052113 . The registered office is CKR House , 70 East Hill, Dartford, Kent, DA1 1RZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Reducing balance basis - 25%
Motor Vehicles Reducing balance basis - 25%
Fixtures & Fittings Reducing balance basis - 25%
Computer Equipment Reducing balance basis - 25%
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
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3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 2 2
Sales, marketing and distribution 1 1
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 5,208 13,315 4,555 625 23,703
As at 30 April 2024 5,208 13,315 4,555 625 23,703
Depreciation
As at 1 May 2023 5,112 7,697 4,460 273 17,542
Provided during the period 24 1,405 24 88 1,541
As at 30 April 2024 5,136 9,102 4,484 361 19,083
Net Book Value
As at 30 April 2024 72 4,213 71 264 4,620
As at 1 May 2023 96 5,618 95 352 6,161
5. Stocks
2024 2023
£ £
Finished goods 4,820 6,180
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 93,874 81,549
CIS suffered 3,118 209
Chris Hartnett Loan 11,500 -
108,492 81,758
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,966 33,225
Bank loans and overdrafts 1,945 1,945
Corporation tax 17,502 15,641
Other taxes and social security 668 638
VAT 21,708 24,172
Other creditors 596 367
Pension Control Account 241 227
Accruals and deferred income 3,500 3,500
Director's loan account 593 185
61,719 79,900
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,211 5,185
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 20,250 15,000
Final dividend paid 33,750 25,000
54,000 40,000
Page 6