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No description of principal activity
2022-12-31
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
07463102
2022-12-31
2023-12-30
07463102
2023-12-30
07463102
2022-12-30
07463102
2021-12-31
2022-12-30
07463102
2022-12-30
07463102
2021-12-30
07463102
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2022-12-31
2023-12-30
07463102
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2022-12-31
2023-12-30
07463102
core:FurnitureFittings
2022-12-31
2023-12-30
07463102
core:MotorVehicles
2022-12-31
2023-12-30
07463102
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2022-12-31
2023-12-30
07463102
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2022-12-31
2023-12-30
07463102
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2023-12-30
07463102
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2022-12-30
07463102
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2023-12-30
07463102
core:ShareCapital
2022-12-30
07463102
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2023-12-30
07463102
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2022-12-30
07463102
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2022-12-31
2023-12-30
07463102
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2022-12-31
2023-12-30
07463102
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2022-12-31
2023-12-30
07463102
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2022-12-31
2023-12-30
07463102
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2022-12-31
2023-12-30
07463102
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2023-12-30
07463102
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07463102
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2022-12-31
2023-12-30
COMPANY REGISTRATION NUMBER:
07463102
Aquafun Sheffield Limited |
|
Filleted Unaudited Abridged Financial Statements |
|
Aquafun Sheffield Limited |
|
Abridged Statement of Financial Position |
|
30 December 2023
Fixed assets
Tangible assets |
6 |
6,864 |
9,412 |
|
|
|
|
Current assets
Stocks |
54,148 |
81,640 |
Debtors |
56,829 |
55,429 |
Cash at bank and in hand |
73,172 |
75,543 |
|
--------- |
--------- |
|
184,149 |
212,612 |
|
|
|
Creditors: amounts falling due within one year |
215,264 |
218,488 |
|
--------- |
--------- |
Net current liabilities |
31,115 |
5,876 |
|
------- |
------ |
Total assets less current liabilities |
(
24,251) |
3,536 |
|
|
|
Provisions
Taxation including deferred tax |
– |
1,788 |
|
------- |
------ |
Net (liabilities)/assets |
(
24,251) |
1,748 |
|
------- |
------ |
|
|
|
Capital and reserves
Called up share capital |
7 |
100 |
100 |
Profit and loss account |
(
24,351) |
1,648 |
|
------- |
------ |
Shareholders (deficit)/funds |
(
24,251) |
1,748 |
|
------- |
------ |
|
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 30 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 members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Aquafun Sheffield Limited |
|
Abridged Statement of Financial Position (continued) |
|
30 December 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
28 January 2025
, and are signed on behalf of the board by:
Company registration number:
07463102
Aquafun Sheffield Limited |
|
Notes to the Abridged Financial Statements |
|
Year ended 30 December 2023
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 3a, Westthorpe Fields Business Park, Killamarsh, Sheffield, S21 1TZ, United Kingdom.
2.
Statement of compliance
These abridged 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. The financial statements have been prepared on the going concern basis on the understanding that the company will continue to retain the support of its principal creditor, the Director.
Going concern
The director believes the company is still a going concern and that he will undertake to ensure that adequate financial resources are provided to the company to enable it to meet its liabilities as they fall due. As a result of this the financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover is the value of goods and services provided to customers by the company in the ordinary course of business, excluding Value Added Tax.
Income tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
20% straight line |
|
Patents |
- |
20% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
|
Fixtures and equipment |
- |
15% straight line |
|
Motor vehicles |
- |
25% reducing balance |
|
Computer equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2022:
4
).
5.
Intangible assets
|
£ |
Cost |
|
At 31 December 2022 and 30 December 2023 |
17,836 |
|
------- |
Amortisation |
|
At 31 December 2022 and 30 December 2023 |
17,836 |
|
------- |
Carrying amount |
|
At 30 December 2023 |
– |
|
------- |
At 30 December 2022 |
– |
|
------- |
|
|
6.
Tangible assets
|
£ |
Cost |
|
At 31 December 2022 and 30 December 2023 |
24,483 |
|
------- |
Depreciation |
|
At 31 December 2022 |
15,071 |
Charge for the year |
2,548 |
|
------- |
At 30 December 2023 |
17,619 |
|
------- |
Carrying amount |
|
At 30 December 2023 |
6,864 |
|
------- |
At 30 December 2022 |
9,412 |
|
------- |
|
|
7.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
8.
Director's advances, credits and guarantees
Other creditors include loans due to directors of £167,437 (2022: £162,216).