Company registration number 10277655 (England and Wales)
LIQUI GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LIQUI GROUP LIMITED
COMPANY INFORMATION
Directors
Mr C P Fry
Mr A Piers Trenear-Thomas
Company number
10277655
Registered office
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
Accountants
Carpenter Box
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
LIQUI GROUP LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
LIQUI GROUP LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LIQUI GROUP LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Liqui Group Limited for the year ended 31 March 2024 which comprise, the balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Liqui Group Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Liqui Group Limited and state those matters that we have agreed to state to the board of directors of Liqui Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Liqui Group Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Liqui Group 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 Liqui Group Limited. You consider that Liqui Group 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 financial statements of Liqui Group 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.

Carpenter Box
22 November 2024
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
LIQUI GROUP LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
93,222
105,184
Investments
4
7,500
7,500
100,722
112,684
Current assets
Debtors
5
137,681
57,516
Cash at bank and in hand
71,749
134,586
209,430
192,102
Creditors: amounts falling due within one year
6
(245,987)
(247,776)
Net current liabilities
(36,557)
(55,674)
Total assets less current liabilities
64,165
57,010
Creditors: amounts falling due after more than one year
7
(13,147)
(23,954)
Provisions for liabilities
(11,500)
(5,998)
Net assets
39,518
27,058
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
39,418
26,958
Total equity
39,518
27,058

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

LIQUI GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 22 November 2024 and are signed on its behalf by:
Mr C P Fry
Director
Company Registration No. 10277655
LIQUI GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Liqui Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1QR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the balance sheet date the company had net current liabilities totalling £36,522. However, included within current liabilities was an amount of £180,573 owed to a connected company that will not be repaid if it prejudiced third party creditors.

Based on this assessment, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate to continue in operational existence for the foreseeable future.

Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The financial statements do not include any adjustment that would result from a withdrawal of the connected company support.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% per annum on a diminishing balance basis
Plant and machinery
5 years on a straight line basis
Office equipment
4 years on a straight line basis
Computer equipment
3 years on a straight line basis
Motor vehicles
25% per annum on a diminishing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

LIQUI GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

 

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

LIQUI GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons employed by the company during the year was 11 (2023 - 10).

3
Tangible fixed assets
Leasehold improvements
Plant and machinery
Office equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2023
47,266
92,978
19,885
23,427
54,740
238,296
Additions
-
0
14,788
575
5,481
-
0
20,844
Disposals
-
0
-
0
-
0
-
0
(6,800)
(6,800)
At 31 March 2024
47,266
107,766
20,460
28,908
47,940
252,340
Depreciation and impairment
At 1 April 2023
16,282
56,023
18,644
15,567
26,596
133,112
Depreciation charged in the year
6,197
12,736
638
5,423
6,778
31,772
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
(5,766)
(5,766)
At 31 March 2024
22,479
68,759
19,282
20,990
27,608
159,118
Carrying amount
At 31 March 2024
24,787
39,007
1,178
7,918
20,332
93,222
At 31 March 2023
30,984
36,955
1,241
7,860
28,144
105,184
LIQUI GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
7,500
7,500
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
57,247
12,847
Other debtors
80,434
44,669
137,681
57,516
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,108
9,232
Trade creditors
1,799
798
Amounts owed to group undertakings
180,573
180,596
Taxation and social security
23,235
35,096
Other creditors
30,272
22,054
245,987
247,776
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,147
23,954

The bank loans within notes 6 and 7 are secured against the company's underlying assets.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
LIQUI GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
34,600
34,600
10
Parent company

The ultimate controlling party is Fry & Co Holdings Limited whose registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1QR.

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