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Registered number: 13918255
Siren Water Treatment Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
AMA Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13918255
28 February 2024 28 February 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 112,741 58,690
112,741 58,690
CURRENT ASSETS
Stocks 5 62,580 -
Debtors 6 161,064 87,139
Cash at bank and in hand 82,298 21,152
305,942 108,291
Creditors: Amounts Falling Due Within One Year 7 (142,690 ) (98,383 )
NET CURRENT ASSETS (LIABILITIES) 163,252 9,908
TOTAL ASSETS LESS CURRENT LIABILITIES 275,993 68,598
Creditors: Amounts Falling Due After More Than One Year 8 (61,261 ) (38,694 )
NET ASSETS 214,732 29,904
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 214,632 29,804
SHAREHOLDERS' FUNDS 214,732 29,904
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For the year ending 28 February 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 Gary Hough
Director
27th November 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
Siren Water Treatment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13918255 . The registered office is Unit B1 Aven Industrial Park, Tickhill Road, Rotherham, S66 7QR.
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 25% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% 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.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. 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 years 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 assets reflect 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: 7 (2023: 7)
7 7
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 8,992 51,592 442 4,716 65,742
Additions 8,372 69,550 88 3,300 81,310
Disposals - (3,592 ) - - (3,592 )
As at 28 February 2024 17,364 117,550 530 8,016 143,460
Depreciation
As at 1 March 2023 899 5,227 22 904 7,052
Provided during the period 2,894 20,538 127 1,115 24,674
Disposals - (1,007 ) - - (1,007 )
As at 28 February 2024 3,793 24,758 149 2,019 30,719
Net Book Value
As at 28 February 2024 13,571 92,792 381 5,997 112,741
As at 1 March 2023 8,093 46,365 420 3,812 58,690
5. Stocks
28 February 2024 28 February 2023
as restated
£ £
Finished goods 62,580 -
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6. Debtors
28 February 2024 28 February 2023
as restated
£ £
Due within one year
Trade debtors 108,387 55,124
Prepayments and accrued income 2,718 2,550
Other debtors 675 675
VAT 3,062 22,352
Directors' loan accounts 46,222 6,438
161,064 87,139
7. Creditors: Amounts Falling Due Within One Year
28 February 2024 28 February 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 20,992 10,938
Trade creditors 86,578 83,532
Corporation tax 33,655 -
Other taxes and social security 867 1,776
Other creditors 318 727
Accruals and deferred income 280 280
Directors' loan accounts - 1,130
142,690 98,383
8. Creditors: Amounts Falling Due After More Than One Year
28 February 2024 28 February 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 61,261 38,694
9. Obligations Under Finance Leases and Hire Purchase
28 February 2024 28 February 2023
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 20,992 10,938
Later than one year and not later than five years 61,261 38,694
82,253 49,632
82,253 49,632
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10. Share Capital
28 February 2024 28 February 2023
as restated
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Mr Joseph Greatorex 22,478 - - - 22,748
Mr Gary Hough 23,474 - - - 23,474
The above loan is unsecured, interest free and repayable on demand.
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