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COMPANY REGISTRATION NUMBER: 07175645
AQUA LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
AQUA LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
153,763
106,247
CURRENT ASSETS
Stocks
25,000
24,500
Debtors
6
135,064
125,349
Cash at bank and in hand
72,284
67,296
---------
---------
232,348
217,145
CREDITORS: amounts falling due within one year
7
99,508
74,300
---------
---------
NET CURRENT ASSETS
132,840
142,845
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
286,603
249,092
CREDITORS: amounts falling due after more than one year
8
5,785
9,965
PROVISIONS
24,230
9,570
---------
---------
NET ASSETS
256,588
229,557
---------
---------
CAPITAL AND RESERVES
Called up share capital
9
100
100
Profit and loss account
256,488
229,457
---------
---------
SHAREHOLDERS FUNDS
256,588
229,557
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
AQUA LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 5 November 2024 , and are signed on behalf of the board by:
Mr M Leek
Mrs L Leek
Director
Director
Company registration number: 07175645
AQUA LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1, Apollo Court, Vulcan Way, Coalville, Leicestershire, LE67 3AP. Until 29th February 2024 the registered address was Unit 7, Oaks Industrial Estate, Snibstone Drive, Coalville, Leicestershire, LE67 3NQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Home office
-
4% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 6 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Home office
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
28,185
26,280
91,260
27,315
26,569
199,609
Additions
49,827
50,834
6,815
107,476
Disposals
( 32,715)
( 32,715)
--------
--------
---------
--------
--------
---------
At 31 Mar 2024
78,012
26,280
109,379
34,130
26,569
274,370
--------
--------
---------
--------
--------
---------
Depreciation
At 1 Apr 2023
12,600
19,710
42,312
16,716
2,024
93,362
Charge for the year
16,354
1,314
20,941
4,353
982
43,944
Disposals
( 16,699)
( 16,699)
--------
--------
---------
--------
--------
---------
At 31 Mar 2024
28,954
21,024
46,554
21,069
3,006
120,607
--------
--------
---------
--------
--------
---------
Carrying amount
At 31 Mar 2024
49,058
5,256
62,825
13,061
23,563
153,763
--------
--------
---------
--------
--------
---------
At 31 Mar 2023
15,585
6,570
48,948
10,599
24,545
106,247
--------
--------
---------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
121,606
114,669
Other debtors
13,458
10,680
---------
---------
135,064
125,349
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,172
4,084
Trade creditors
44,966
21,438
Accruals and deferred income
2,316
1,700
Corporation tax
22,327
21,198
Social security and other taxes
17,665
20,104
Director loan accounts
1,205
1,396
Bank loans and overdrafts
6,369
3,862
Other creditors
488
518
--------
--------
99,508
74,300
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,785
9,965
-------
-------
9. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----