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Registered number: 02753302
Aquatrac (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02753302
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 25,859 33,925
25,859 33,925
CURRENT ASSETS
Stocks 6 142,672 150,577
Debtors 7 114,935 52,977
Cash at bank and in hand 157,236 242,616
414,843 446,170
Creditors: Amounts Falling Due Within One Year 8 (124,464 ) (155,311 )
NET CURRENT ASSETS (LIABILITIES) 290,379 290,859
TOTAL ASSETS LESS CURRENT LIABILITIES 316,238 324,784
Creditors: Amounts Falling Due After More Than One Year 9 - (6,000 )
NET ASSETS 316,238 318,784
CAPITAL AND RESERVES
Called up share capital 11 110 110
Capital redemption reserve (20,000 ) -
Profit and Loss Account 336,128 318,674
SHAREHOLDERS' FUNDS 316,238 318,784
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For the year ending 31 March 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 Profit and Loss Account.
On behalf of the board
Mr James Witham
Director
21/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Aquatrac (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02753302 . The registered office is Unit 5&6 The Kingfishers,, Hodgson Way, Wickford, Essex, SS11 8YN.
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 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
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 profit and loss account 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 profit and loss account 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 year 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 asset reflects 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2023 5,000 37,000 42,000
As at 31 March 2024 5,000 37,000 42,000
Amortisation
As at 1 April 2023 5,000 37,000 42,000
As at 31 March 2024 5,000 37,000 42,000
Net Book Value
As at 31 March 2024 - - -
As at 1 April 2023 - - -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 1,042 129,213 20,067 2,478 152,800
As at 31 March 2024 1,042 129,213 20,067 2,478 152,800
Depreciation
As at 1 April 2023 607 99,663 17,999 606 118,875
Provided during the period 87 7,387 311 281 8,066
As at 31 March 2024 694 107,050 18,310 887 126,941
...CONTINUED
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Net Book Value
As at 31 March 2024 348 22,163 1,757 1,591 25,859
As at 1 April 2023 435 29,550 2,068 1,872 33,925
6. Stocks
2024 2023
£ £
Materials 142,672 138,476
Work in progress - 12,101
142,672 150,577
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 103,563 42,910
Other debtors 8,655 8,655
Deferred tax current asset 2,717 1,412
114,935 52,977
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,000 6,000
Trade creditors 16,188 31,369
Corporation tax 41,014 32,487
VAT 5,027 18,093
Accruals and deferred income 55,394 66,521
Directors' loan accounts 841 841
124,464 155,311
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 6,000
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,000 6,000
Later than one year and not later than five years - 6,000
6,000 12,000
6,000 12,000
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 110 110
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