Company No:
Contents
31.12.2023 | 31.12.2022 | |||
£ | £ | |||
Current assets | ||||
Stocks |
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Debtors | 3 | (
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Cash at bank and in hand |
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581,012 | 476,315 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (336,667) | (369,842) | ||
Total assets less current liabilities | (336,667) | (369,842) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 5 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of WaterCo Infinity UK Limited (registered number:
Isaac Franco
Director |
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.
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 £.
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.
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.
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.
Year ended 31.12.2023 |
Period from 01.06.2022 to 31.12.2022 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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31.12.2023 | 31.12.2022 | ||
£ | £ | ||
Trade debtors | (
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Amounts owed by Group undertakings |
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Amounts owed by director |
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Prepayments |
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VAT recoverable |
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Other debtors | (
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31.12.2023 | 31.12.2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Accruals |
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Other taxation and social security |
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Other creditors |
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31.12.2023 | 31.12.2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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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.