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Logo On Report
Registered Number: 08773087
England and Wales

 

 

 

NORTHWESTWATERJET LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts Northwestwaterjet Ltd for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Northwestwaterjet Ltd for the year ended 31 March 2024 which comprise of 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 Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.cimaglobal.com.
This report is made solely to the Board of Directors of Northwestwaterjet Ltd , as a body, in accordance with the terms of our engagement letter dated 09 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of Northwestwaterjet Ltd and state those matters that we have agreed to state to the Board of Directors of Northwestwaterjet Ltd, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Northwestwaterjet Ltd and its Board of Directors as a body for our work or for this report
It is your duty to ensure that Northwestwaterjet Ltd 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 Northwestwaterjet Ltd. You consider that Northwestwaterjet Ltd 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 Northwestwaterjet Ltd. 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 statutory accounts.



....................................................
Rivington Accounts Ltd
Bank House
6-8 Church Street
Adlington
Lancashire
PR7 4EX
09 October 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 407,112    58,975 
407,112    58,975 
Current assets      
Stocks 51,168    47,865 
Debtors 180,106    149,197 
Cash at bank and in hand 11,430    15,887 
242,704    212,949 
Creditors: amount falling due within one year (225,267)   (156,445)
Net current assets 17,437    56,504 
 
Total assets less current liabilities 424,549    115,479 
Creditors: amount falling due after more than one year (346,730)   (44,157)
Provisions for liabilities (77,792)   (11,572)
Net assets 27    59,750 
 

Capital and reserves
     
Called up share capital 4 150    150 
Share premium account   (38,003)
Profit and loss account (123)   97,603 
Shareholders' funds 27    59,750 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 09 October 2024 and were signed on its behalf by:


-------------------------------
Andrew John Dodd
Director
2
General Information
Northwestwaterjet Ltd is a private company, limited by shares, registered in England and Wales, registration number 08773087, registration address Unit 7, Common Bank Industrial Estate, Chorley, Lancashire, PR7 1NH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2023 116,435    9,449    952    33,553    160,389 
Additions 483,350        493    483,843 
Disposals        
At 31 March 2024 599,785    9,449    952    34,046    644,232 
Depreciation
At 01 April 2023 72,362    8,740    551    19,761    101,414 
Charge for year 131,856    178    100    3,572    135,706 
On disposals        
At 31 March 2024 204,218    8,918    651    23,333    237,120 
Net book values
Closing balance as at 31 March 2024 395,567    531    301    10,713    407,112 
Opening balance as at 01 April 2023 44,073    709    401    13,792    58,975 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
150 Class A shares of £1.00 each 150    150 
150    150 

3