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REGISTERED NUMBER: 06117449 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Accurate Utilities Ltd

Accurate Utilities Ltd (Registered number: 06117449)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Accurate Utilities Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: F J G Hewitt
C Hewitt





REGISTERED OFFICE: C/O Haines Watts Chester
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS





REGISTERED NUMBER: 06117449 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Accurate Utilities Ltd (Registered number: 06117449)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,001 18,810
Tangible assets 5 15,469 22,447
17,470 41,257

CURRENT ASSETS
Debtors 6 169,830 214,250
Cash at bank 944,829 898,194
1,114,659 1,112,444
CREDITORS
Amounts falling due within one year 7 639,578 648,445
NET CURRENT ASSETS 475,081 463,999
TOTAL ASSETS LESS CURRENT
LIABILITIES

492,551

505,256

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 492,451 505,156
SHAREHOLDERS' FUNDS 492,551 505,256

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 25 November 2024 and were signed on its behalf by:



C Hewitt - Director


Accurate Utilities Ltd (Registered number: 06117449)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Accurate Utilities Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

The financial statements are presented in sterling, which is the functional currency of the company, rounded to the nearest £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Accurate Utilities Ltd (Registered number: 06117449)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 20,000 99,517 119,517
AMORTISATION
At 1 April 2023 17,000 83,707 100,707
Charge for year 1,000 15,809 16,809
At 31 March 2024 18,000 99,516 117,516
NET BOOK VALUE
At 31 March 2024 2,000 1 2,001
At 31 March 2023 3,000 15,810 18,810

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 117,358
Additions 1,678
At 31 March 2024 119,036
DEPRECIATION
At 1 April 2023 94,911
Charge for year 8,656
At 31 March 2024 103,567
NET BOOK VALUE
At 31 March 2024 15,469
At 31 March 2023 22,447

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 41,358 111,153
Amounts owed by associates 90,940 70,100
Other debtors 37,532 32,997
169,830 214,250

Accurate Utilities Ltd (Registered number: 06117449)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 103 2,221
Amounts owed to group undertakings 589,124 511,948
Taxation and social security 45,351 127,958
Other creditors 5,000 6,318
639,578 648,445

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £450,000 (2023 - £500,000) were paid to the directors .