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Company No: 13400784 (England and Wales)

WATERCO INFINITY UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

WATERCO INFINITY UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

WATERCO INFINITY UK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
WATERCO INFINITY UK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
31.12.2023 31.12.2022
£ £
Current assets
Stocks 808,502 141,703
Debtors 3 ( 252,463) 312,463
Cash at bank and in hand 24,973 22,149
581,012 476,315
Creditors: amounts falling due within one year 4 ( 917,679) ( 846,157)
Net current liabilities (336,667) (369,842)
Total assets less current liabilities (336,667) (369,842)
Net liabilities ( 336,667) ( 369,842)
Capital and reserves
Called-up share capital 5 1,000 1,000
Profit and loss account ( 337,667 ) ( 370,842 )
Total shareholders' deficit ( 336,667) ( 369,842)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of WaterCo Infinity UK Limited (registered number: 13400784) were approved and authorised for issue by the Director on 26 November 2024. They were signed on its behalf by:

Isaac Franco
Director
WATERCO INFINITY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
WATERCO INFINITY UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

WaterCo Infinity UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1-3 College Yard, Worcester, WR1 2LB, United Kingdom. The principal place of business is Highfields, Cockshut Lane, Derby, DE73 8DG.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £336,667. The Company is supported through loans from the Parent Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
31.12.2023
Period from
01.06.2022 to
31.12.2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Debtors

31.12.2023 31.12.2022
£ £
Trade debtors ( 482,131) 36,937
Amounts owed by Group undertakings 6,670 900
Amounts owed by director 0 900
Prepayments 69,264 0
VAT recoverable 156,234 41,506
Other debtors ( 2,500) 232,220
( 252,463) 312,463

4. Creditors: amounts falling due within one year

31.12.2023 31.12.2022
£ £
Trade creditors 0 116,214
Amounts owed to Group undertakings 4,000 0
Accruals 1,100 0
Other taxation and social security 9,139 0
Other creditors 903,440 729,943
917,679 846,157

5. Called-up share capital

31.12.2023 31.12.2022
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 0.10 each 1,000 1,000

6. Related party transactions

Transactions with the entity's director

31.12.2023 31.12.2022
£ £
Amounts owed by director 0 900

Other related party transactions

31.12.2023 31.12.2022
£ £
Amounts owed to overseas related companies 903,440 729,043

There is no fixed term for repayment and no interest has been charged on the balance. It is repayable on demand.