Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-01No description of principal activity4642falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07828641 2023-07-01 2024-06-30 07828641 2022-07-01 2023-06-30 07828641 2024-06-30 07828641 2023-06-30 07828641 2022-07-01 07828641 c:Director1 2023-07-01 2024-06-30 07828641 c:Director2 2023-07-01 2024-06-30 07828641 d:OfficeEquipment 2023-07-01 2024-06-30 07828641 d:OfficeEquipment 2024-06-30 07828641 d:OfficeEquipment 2023-06-30 07828641 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07828641 d:ComputerEquipment 2023-07-01 2024-06-30 07828641 d:ComputerEquipment 2024-06-30 07828641 d:ComputerEquipment 2023-06-30 07828641 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07828641 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07828641 d:CurrentFinancialInstruments 2024-06-30 07828641 d:CurrentFinancialInstruments 2023-06-30 07828641 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 07828641 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07828641 d:ShareCapital 2024-06-30 07828641 d:ShareCapital 2023-06-30 07828641 d:RetainedEarningsAccumulatedLosses 2024-06-30 07828641 d:RetainedEarningsAccumulatedLosses 2023-06-30 07828641 c:OrdinaryShareClass1 2023-07-01 2024-06-30 07828641 c:OrdinaryShareClass1 2024-06-30 07828641 c:OrdinaryShareClass1 2023-06-30 07828641 c:FRS102 2023-07-01 2024-06-30 07828641 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 07828641 c:FullAccounts 2023-07-01 2024-06-30 07828641 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07828641 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 07828641 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 07828641 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 07828641














INCHWATER LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024

 
INCHWATER LTD
REGISTERED NUMBER:07828641

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note

Fixed assets
  

Tangible assets
 4 
3,409
3,657

Current assets
  

Debtors: amounts falling due within one year
 5 
72,928
87,453

Cash at bank and in hand
 6 
32,383
160

  
105,311
87,613

Creditors: amounts falling due within one year
 7 
(105,820)
(89,912)

Net current liabilities
  
 
 
(509)
 
 
(2,299)

Total assets less current liabilities
  
2,900
1,358

Provisions for liabilities
  

Deferred tax
 8 
(852)
(914)

Net assets
  
£2,048
£444


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
2,046
442

  
£2,048
£444


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 21 November 2024.



___________________________
Mr P Watts
___________________________
Mrs M Watts
Director
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 
INCHWATER LTD
REGISTERED NUMBER:07828641

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024


Page 2

 
INCHWATER LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Inchwater Ltd is a private company limited by shares. The company registration number is 07828641 and is incorporated in England and Wales. The registered office of the company is Suite 2, The Powder House, Menzies Road, Whitfield, Dover, Kent, CT16 2HQ.

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

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:

Office equipment
-
25% reducing balance basis
Computer equipment
-
25% reducing balance basis

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 3

 
INCHWATER LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.8

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.

 
2.9

Pensions

Defined Contribution Pension Plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Borrowing costs

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

Page 4

 
INCHWATER LTD
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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 balance sheet 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 balance sheet 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 balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 46 (2023 - 42).

Page 5

 
INCHWATER LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Office equipment
Computer equipment
Total



Cost or valuation


At 1 July 2023
4,274
5,621
9,895


Additions
-
729
729



At 30 June 2024

4,274
6,350
10,624



Depreciation


At 1 July 2023
3,104
3,134
6,238


Charge for the year on owned assets
294
683
977



At 30 June 2024

3,398
3,817
7,215



Net book value



At 30 June 2024
£876
£2,533
£3,409



At 30 June 2023
£1,170
£2,487
£3,657


5.


Debtors

2024
2023


Trade debtors
72,450
82,355

Prepayments and accrued income
478
5,098

£72,928
£87,453



6.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
32,383
160

Less: bank overdrafts
-
(2,272)

£32,383
£(2,112)


Page 6

 
INCHWATER LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023

Bank overdrafts
-
2,272

Trade creditors
16,751
9,432

Corporation tax
20,778
4,999

Other taxation and social security
12,074
16,519

Other creditors
52,487
52,116

Accruals and deferred income
3,730
4,574

£105,820
£89,912



8.


Deferred taxation




2024
2023





At beginning of year
914
926


Charged to profit or loss
(62)
(12)



At end of year
£852
£914

The provision for deferred taxation is made up as follows:

2024
2023


Accelerated capital allowances
852
914

£852
£914


9.


Share capital

2024
2023
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
£2
£2


Page 7