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Registration number: 13979727

Polhawn Water Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Polhawn Water Solutions Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Polhawn Water Solutions Ltd

Company Information

Director

Mr Andrew James Arnold

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Polhawn Water Solutions Ltd

(Registration number: 13979727)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

52,712

26,468

Current assets

 

Debtors

6

22,674

4,919

Cash at bank and in hand

 

2,179

6,084

 

24,853

11,003

Creditors: Amounts falling due within one year

7

(1,245)

(1,245)

Net current assets

 

23,608

9,758

Total assets less current liabilities

 

76,320

36,226

Creditors: Amounts falling due after more than one year

7

(75,756)

(35,705)

Net assets

 

564

521

Capital and reserves

 

Called up share capital

500

500

Retained earnings

64

21

Shareholders' funds

 

564

521

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 8 November 2024
 

.........................................
Mr Andrew James Arnold
Director

 

Polhawn Water Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 8 November 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 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 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.

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

Motor Vehicle

25% Straight Line

Computer Equipment

25% Straight Line

Furniture and Fittings

25% Staright Line

 

Polhawn Water Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

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 merchandise sold or 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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

20,511

8,822

 

Polhawn Water Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

1,045

34,245

35,290

Additions

266

46,489

46,755

At 29 February 2024

1,311

80,734

82,045

Depreciation

At 1 March 2023

261

8,561

8,822

Charge for the year

327

20,184

20,511

At 29 February 2024

588

28,745

29,333

Carrying amount

At 29 February 2024

723

51,989

52,712

At 28 February 2023

784

25,684

26,468

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

4,347

972

Amounts owed by related parties

17,308

3,503

Prepayments

 

1,019

194

Other debtors

 

-

250

   

22,674

4,919

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

30

30

Accruals and deferred income

1,215

1,215

1,245

1,245

 

Polhawn Water Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

7

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

17,686

11,253

Other non-current financial liabilities

 

58,070

24,452

 

75,756

35,705

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

17,686

11,253