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REGISTERED NUMBER: 03066917 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Aquazone Limited

Aquazone Limited (Registered number: 03066917)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Aquazone Limited (Registered number: 03066917)

Balance Sheet
30 June 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 5 522,742 563,635

Current assets
Stocks 2,727,081 2,163,559
Debtors 6 475,881 344,747
Cash at bank and in hand 78,099 584,923
3,281,061 3,093,229
Creditors
Amounts falling due within one year 7 (921,796 ) (1,048,999 )
Net current assets 2,359,265 2,044,230
Total assets less current liabilities 2,882,007 2,607,865

Creditors
Amounts falling due after more than one year 8 (443,282 ) (226,494 )

Provisions for liabilities (81,871 ) (74,293 )
Net assets 2,356,854 2,307,078

Capital and reserves
Called up share capital 75 75
Retained earnings 2,356,779 2,307,003
2,356,854 2,307,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Aquazone Limited (Registered number: 03066917)

Balance Sheet - continued
30 June 2024


The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:




Mr D A Williams - Director



Mr C J L Ellis - Director


Aquazone Limited (Registered number: 03066917)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. Statutory information

Aquazone Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03066917

Registered office: Unit 20 Brinell Way
Harfreys Industrial Estate
Great Yarmouth
Norfolk
NR31 0LU

2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Aquazone Limited (Registered number: 03066917)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. Accounting policies - continued

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Inventories
Inventories have been valued at the lower of cost and net estimated selling price, less costs to sell.

Work in progress is calculated with reference to complete but unbilled work measured at the balance sheet date, taking account of the stage of completion on a contract by contract basis.

Aquazone Limited (Registered number: 03066917)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Aquazone Limited (Registered number: 03066917)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 38 (2023 - 39 ) .

Aquazone Limited (Registered number: 03066917)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


5. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
Cost
At 1 July 2023 146,446 128,423 722,994 997,863
Additions 46,452 2,108 91,659 140,219
Disposals (33,351 ) (30,144 ) (112,809 ) (176,304 )
At 30 June 2024 159,547 100,387 701,844 961,778
Depreciation
At 1 July 2023 35,590 42,060 356,578 434,228
Charge for year 14,227 10,922 86,912 112,061
Eliminated on disposal (11,921 ) (15,818 ) (79,514 ) (107,253 )
At 30 June 2024 37,896 37,164 363,976 439,036
Net book value
At 30 June 2024 121,651 63,223 337,868 522,742
At 30 June 2023 110,856 86,363 366,416 563,635

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 258,137 164,665
Other debtors 217,744 180,082
475,881 344,747

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 130,000 50,000
Hire purchase contracts (see note 9) 132,532 68,566
Trade creditors 513,411 621,319
Taxation and social security 97,096 264,376
Other creditors 48,757 44,738
921,796 1,048,999

Aquazone Limited (Registered number: 03066917)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 333,334 116,667
Hire purchase contracts (see note 9) 109,948 109,827
443,282 226,494

9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 132,532 68,566
Between one and five years 109,948 109,827
242,480 178,393

Non-cancellable
operating leases
2024 2023
£ £
Within one year 76,770 80,520
Between one and five years 230,303 277,073
In more than five years 88,750 115,000
395,823 472,593

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 242,480 178,393

Hire purchase contracts are secured against the underlying assets concerned.

Aquazone Limited (Registered number: 03066917)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


11. Capital commitments
2024 2023
£ £
Contracted but not provided for in the
financial statements 89,904 89,904

12. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£ £
Mr D A Williams
Balance outstanding at start of year 58,868 60,405
Amounts advanced 16,264 983
Amounts repaid (3,993 ) (2,520 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 71,139 58,868

Mr C J L Ellis
Balance outstanding at start of year 59,714 61,216
Amounts advanced 16,634 1,018
Amounts repaid (3,993 ) (2,520 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 72,355 59,714

At the year end, the directors' owed the company £143,494 (2023: £118,583), interest of £2,199 (2023: £1,982) as charged at rates prescribed by HMRC.