Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-0133falsecontinues to be that of specialist waste management solutions and disposal for all types of hazardous waste.32truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03384938 2023-03-01 2024-02-29 03384938 2022-03-01 2023-02-28 03384938 2024-02-29 03384938 2023-02-28 03384938 2022-03-01 03384938 c:Director2 2023-03-01 2024-02-29 03384938 d:Buildings 2023-03-01 2024-02-29 03384938 d:Buildings 2024-02-29 03384938 d:Buildings 2023-02-28 03384938 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03384938 d:Buildings d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 03384938 d:PlantMachinery 2023-03-01 2024-02-29 03384938 d:PlantMachinery 2024-02-29 03384938 d:PlantMachinery 2023-02-28 03384938 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03384938 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 03384938 d:MotorVehicles 2023-03-01 2024-02-29 03384938 d:MotorVehicles 2024-02-29 03384938 d:MotorVehicles 2023-02-28 03384938 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03384938 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 03384938 d:FurnitureFittings 2023-03-01 2024-02-29 03384938 d:FurnitureFittings 2024-02-29 03384938 d:FurnitureFittings 2023-02-28 03384938 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03384938 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 03384938 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03384938 d:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 03384938 d:CurrentFinancialInstruments 2024-02-29 03384938 d:CurrentFinancialInstruments 2023-02-28 03384938 d:Non-currentFinancialInstruments 2024-02-29 03384938 d:Non-currentFinancialInstruments 2023-02-28 03384938 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 03384938 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 03384938 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 03384938 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 03384938 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 03384938 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 03384938 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 03384938 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 03384938 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-02-29 03384938 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 03384938 d:ShareCapital 2024-02-29 03384938 d:ShareCapital 2023-02-28 03384938 d:CapitalRedemptionReserve 2024-02-29 03384938 d:CapitalRedemptionReserve 2023-02-28 03384938 d:RetainedEarningsAccumulatedLosses 2024-02-29 03384938 d:RetainedEarningsAccumulatedLosses 2023-02-28 03384938 c:OrdinaryShareClass1 2023-03-01 2024-02-29 03384938 c:OrdinaryShareClass1 2024-02-29 03384938 c:OrdinaryShareClass1 2023-02-28 03384938 c:FRS102 2023-03-01 2024-02-29 03384938 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 03384938 c:FullAccounts 2023-03-01 2024-02-29 03384938 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03384938 d:WithinOneYear 2024-02-29 03384938 d:WithinOneYear 2023-02-28 03384938 d:BetweenOneFiveYears 2024-02-29 03384938 d:BetweenOneFiveYears 2023-02-28 03384938 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 03384938 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 03384938 6 2023-03-01 2024-02-29 03384938 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-02-29 03384938 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-02-28 03384938 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-02-29 03384938 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-28 03384938 d:LeasedAssetsHeldAsLessee 2024-02-29 03384938 d:LeasedAssetsHeldAsLessee 2023-02-28 03384938 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03384938









AQUA FORCE SPECIAL WASTE LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AQUA FORCE SPECIAL WASTE LIMITED
FOR THE YEAR ENDED 29 FEBRUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aqua Force Special Waste Limited for the year ended 29 February 2024 which comprise  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 firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the Board of Directors of Aqua Force Special Waste Limited, as a body, in accordance with the terms of our engagement letter dated 01 June 2024Our work has been undertaken solely to prepare for your approval the financial statements of Aqua Force Special Waste Limited and state those matters that we have agreed to state to the Board of Directors of Aqua Force Special Waste Limited, as a body, in this report in accordance with the requirements of 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 Aqua Force Special Waste Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Aqua Force Special Waste Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Aqua Force Special Waste Limited. You consider that Aqua Force Special Waste Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Aqua Force Special Waste 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 statutory financial statements.

  



Lancaster  Clements Limited
 
Chartered Certified Accountants
  
Stanley House
27 Wellington Road
Bilston
West Midlands
WV14 6AH
3 July 2024
Page 1

 
AQUA FORCE SPECIAL WASTE LIMITED
REGISTERED NUMBER: 03384938

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
923,428
913,797

Investments
 5 
123,000
123,000

  
1,046,428
1,036,797

Current assets
  

Debtors: amounts falling due within one year
 6 
1,050,561
1,260,540

Cash at bank and in hand
  
100,509
12,740

  
1,151,070
1,273,280

Creditors: amounts falling due within one year
 7 
(1,215,500)
(1,153,052)

Net current (liabilities)/assets
  
 
 
(64,430)
 
 
120,228

Total assets less current liabilities
  
981,998
1,157,025

Creditors: amounts falling due after more than one year
 8 
(220,272)
(267,439)

Provisions for liabilities
  

Deferred tax
 10 
(80,857)
(58,905)

  
 
 
(80,857)
 
 
(58,905)

Net assets
  
680,869
830,681


Capital and reserves
  

Called up share capital 
 11 
900
900

Capital redemption reserve
  
450
450

Profit and loss account
  
679,519
829,331

  
680,869
830,681


Page 2

 
AQUA FORCE SPECIAL WASTE LIMITED
REGISTERED NUMBER: 03384938
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 July 2024.




Lynne Gill
Director

The notes on pages 4 to 14 form part of these financial statements.

Page 3

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The company is registered in England and Wales. The company's registered office is Unit 4a Sprint Industrial Estate, Station Road, Four Ashes, Wolverhampton, West Midlands, WV10 7DB. The principal activity continues to be that of specialist waste management solutions and disposal for all types of hazardous waste.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance/10% straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

A financial asset held as an equity instrument is recognised initially at the transaction price (including transaction costs).
 
Page 6

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

At the end of each reporting period, unlisted equity investments are recorded at fair value, where appropriate, or at cost less impairment if their fair value cannot be reliably measured.  Objective evidence of the impairment of financial assets is assessed at each period end and any impairment loss recognised in the profit or loss immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument and the best estimate of the cash flows expected to be derived from the asset (including sales proceeds if sold) at the balance sheet date.
Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the financial instrument.”

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 33 (2023 - 32).

Page 7

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 March 2023
600,000
1,584,469
243,064
21,258
2,448,791


Additions
-
2,400
88,500
-
90,900


Disposals
-
-
(10,000)
-
(10,000)



At 29 February 2024

600,000
1,586,869
321,564
21,258
2,529,691



Depreciation


At 1 March 2023
-
1,381,717
138,767
14,509
1,534,993


Charge for the year on owned assets
-
38,239
29,730
1,012
68,981


Charge for the year on financed assets
-
6,300
3,347
-
9,647


Disposals
-
-
(7,358)
-
(7,358)



At 29 February 2024

-
1,426,256
164,486
15,521
1,606,263



Net book value



At 29 February 2024
600,000
160,613
157,078
5,737
923,428



At 28 February 2023
600,000
202,751
104,297
6,749
913,797

Page 8

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


29 February
28 February
2024
2023
£
£



Plant and machinery
26,200
26,030

Motor vehicles
10,042
13,052

36,242
39,082


5.


Fixed asset investments








Unlisted investments

£



Cost or valuation


At 1 March 2023
123,000



At 29 February 2024
123,000




Page 9

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
976,282
1,245,366

Other debtors
1,188
1

Prepayments and accrued income
73,091
15,173

1,050,561
1,260,540



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
43,879
38,371

Trade creditors
454,832
346,398

Corporation tax
279,395
231,591

Other taxation and social security
118,284
157,807

Obligations under finance lease and hire purchase contracts
-
3,580

Other creditors
91,514
129,772

Accruals and deferred income
227,596
245,533

1,215,500
1,153,052


Page 10

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
220,272
267,439

220,272
267,439


The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Obligations under finance lease and hire purchase contracts
-
3,580

-
3,580

Details of security provided:

The assets held on finance leases and hire purchase are secured against the asset the agreement relates to as included in note 4.

Page 11

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
43,879
38,371


43,879
38,371

Amounts falling due 1-2 years

Bank loans
46,477
43,519


46,477
43,519

Amounts falling due 2-5 years

Bank loans
173,795
220,314


173,795
220,314

Amounts falling due after more than 5 years

Bank loans
-
3,606

-
3,606

264,151
305,810


Page 12

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Deferred taxation






2024
2023


£

£






At beginning of year
58,905
51,148


Credited to profit or loss
21,952
7,757



At end of year
80,857
58,905

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
80,857
58,905

80,857
58,905

Page 13

 
AQUA FORCE SPECIAL WASTE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



900 (2023 - 900) ordinary £1 shares of £1.00 each
900
900



12.


Commitments under operating leases

At 29 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

29 February
28 February
2024
2023
£
£


Not later than 1 year
16,194
8,551

Later than 1 year and not later than 5 years
14,186
17,102

30,380
25,653

 
Page 14