Acorah Software Products - Accounts Production 16.0.110 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 09005950 Mr Jason Carnaby Mr James Reid iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09005950 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-04-30 09005950 2023-04-30 09005950 2024-04-30 09005950 2023-05-01 2024-04-30 09005950 frs-core:CurrentFinancialInstruments 2024-04-30 09005950 frs-core:Non-currentFinancialInstruments 2024-04-30 09005950 frs-core:BetweenOneFiveYears 2024-04-30 09005950 frs-core:ComputerEquipment 2024-04-30 09005950 frs-core:ComputerEquipment 2023-05-01 2024-04-30 09005950 frs-core:ComputerEquipment 2023-04-30 09005950 frs-core:MotorVehicles 2024-04-30 09005950 frs-core:MotorVehicles 2023-05-01 2024-04-30 09005950 frs-core:MotorVehicles 2023-04-30 09005950 frs-core:PlantMachinery 2024-04-30 09005950 frs-core:PlantMachinery 2023-05-01 2024-04-30 09005950 frs-core:PlantMachinery 2023-04-30 09005950 frs-core:WithinOneYear 2024-04-30 09005950 frs-core:ShareCapital 2024-04-30 09005950 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 09005950 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09005950 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 09005950 frs-bus:SmallEntities 2023-05-01 2024-04-30 09005950 frs-bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09005950 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 09005950 frs-bus:Director1 2023-05-01 2024-04-30 09005950 frs-bus:Director2 2023-05-01 2024-04-30 09005950 frs-countries:EnglandWales 2023-05-01 2024-04-30 09005950 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-04-30 09005950 2022-04-30 09005950 2023-04-30 09005950 2022-05-01 2023-04-30 09005950 frs-core:CurrentFinancialInstruments 2023-04-30 09005950 frs-core:Non-currentFinancialInstruments 2023-04-30 09005950 frs-core:BetweenOneFiveYears 2023-04-30 09005950 frs-core:WithinOneYear 2023-04-30 09005950 frs-core:ShareCapital 2023-04-30 09005950 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 09005950
Waters Edge Construction Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
FB Accountancy Services Limited
Unit 16, Heronsgate Trading Estate
Paycocke Road
Basildon
Essex
SS14 3EU
Contents
Page
Accountant's Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Waters Edge Construction Limited For The Year Ended 30 April 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Waters Edge Construction Limited which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member 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 directors of Waters Edge Construction Limited , as a body, in accordance with the terms of our engagement letter dated 06 September 2021. Our work has been undertaken solely to prepare for your approval the accounts of Waters Edge Construction Limited and state those matters that we have agreed to state to the directors of Waters Edge Construction 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 Waters Edge Construction Limited and its directors as a body for our work or for this report.
It is your duty to ensure that Waters Edge Construction 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 Waters Edge Construction Limited . You consider that Waters Edge Construction 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 Waters Edge Construction 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
FB Accountancy Services Limited
19/11/2024
FB Accountancy Services Limited
Chartered Certified Accountants
Unit 16, Heronsgate Trading Estate
Paycocke Road
Basildon
Essex
SS14 3EU
Page 1
Page 2
Statement of Financial Position
Registered number: 09005950
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 25,496 33,028
25,496 33,028
CURRENT ASSETS
Stocks 5 43,917 52,000
Debtors 6 61,691 61,542
Cash at bank and in hand 15,076 29,185
120,684 142,727
Creditors: Amounts Falling Due Within One Year 7 (87,672 ) (103,136 )
NET CURRENT ASSETS (LIABILITIES) 33,012 39,591
TOTAL ASSETS LESS CURRENT LIABILITIES 58,508 72,619
Creditors: Amounts Falling Due After More Than One Year 8 (44,983 ) (55,415 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,844 ) (8,753 )
NET ASSETS 8,681 8,451
CAPITAL AND RESERVES
Called up share capital 11 2 2
Income Statement 8,679 8,449
SHAREHOLDERS' FUNDS 8,681 8,451
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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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Income Statement.
On behalf of the board
Mr James Reid
Director
20/11/2024
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Waters Edge Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09005950 . The registered office is 16 Heronsgate Trading Estate, Paycocke Road, Basildon, Essex, SS14 3EU.
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 25% Reducing balance
Motor Vehicles 25% Reducing balance
Computer Equipment 20% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. 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.
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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 years 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 assets reflect 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. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 3,584 58,545 758 62,887
Additions 943 - - 943
As at 30 April 2024 4,527 58,545 758 63,830
Depreciation
As at 1 May 2023 3,045 26,574 240 29,859
Provided during the period 331 7,993 151 8,475
As at 30 April 2024 3,376 34,567 391 38,334
Net Book Value
As at 30 April 2024 1,151 23,978 367 25,496
As at 1 May 2023 539 31,971 518 33,028
5. Stocks
2024 2023
£ £
Stock 43,917 52,000
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 61,391 57,470
Prepayments and accrued income - 3,972
Other debtors 300 100
61,691 61,542
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,021 4,588
Trade creditors 14,426 21,533
Bank loans and overdrafts 5,412 5,291
Corporation tax 22,098 27,090
Other taxes and social security 37,060 15,840
Other creditors 3,655 28,794
87,672 103,136
The bank loan consists of a loan recived under the government bounce back loan scheme.
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 15,503 20,523
Bank loans 29,480 34,892
44,983 55,415
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 6,566 12,490
9. Secured Creditors
Of the creditors the following amounts are secured. The hire purchase loan is secured against the asset purchased.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 20,524 25,112
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,021 4,588
Later than one year and not later than five years 15,503 20,523
20,524 25,111
20,524 25,111
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
12. Related Party Transactions
Included in other debtors is £300 (£100 2021) loaned to Watersedge Building Developments Limited, a compnay owned by Mr J Carnaby and Mr J Reid.  The loan is interest free and repayable on demand.
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