Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31supply of specialised waterproofing and jointing systems to the building and civil engineering industry.2023-10-01false4345truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01497596 2023-10-01 2024-08-31 01497596 2022-10-01 2023-09-30 01497596 2024-08-31 01497596 2023-09-30 01497596 c:Director3 2023-10-01 2024-08-31 01497596 d:PlantMachinery 2023-10-01 2024-08-31 01497596 d:MotorVehicles 2023-10-01 2024-08-31 01497596 d:FurnitureFittings 2023-10-01 2024-08-31 01497596 d:OtherPropertyPlantEquipment 2023-10-01 2024-08-31 01497596 d:OtherPropertyPlantEquipment 2024-08-31 01497596 d:OtherPropertyPlantEquipment 2023-09-30 01497596 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-08-31 01497596 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-10-01 2024-08-31 01497596 d:CurrentFinancialInstruments 2024-08-31 01497596 d:CurrentFinancialInstruments 2023-09-30 01497596 d:Non-currentFinancialInstruments 2024-08-31 01497596 d:Non-currentFinancialInstruments 2023-09-30 01497596 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 01497596 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 01497596 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 01497596 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 01497596 d:ShareCapital 2024-08-31 01497596 d:ShareCapital 2023-09-30 01497596 d:RetainedEarningsAccumulatedLosses 2024-08-31 01497596 d:RetainedEarningsAccumulatedLosses 2023-09-30 01497596 c:FRS102 2023-10-01 2024-08-31 01497596 c:AuditExemptWithAccountantsReport 2023-10-01 2024-08-31 01497596 c:FullAccounts 2023-10-01 2024-08-31 01497596 c:PrivateLimitedCompanyLtd 2023-10-01 2024-08-31 01497596 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 01497596 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 01497596 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-08-31 01497596 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-30 01497596 d:LeasedAssetsHeldAsLessee 2024-08-31 01497596 d:LeasedAssetsHeldAsLessee 2023-09-30 01497596 e:PoundSterling 2023-10-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 01497596










WATERSEAL (WATERBAR & SEALANTS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2024

 
WATERSEAL (WATERBAR & SEALANTS) LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WATERSEAL (WATERBAR & SEALANTS) LIMITED
FOR THE PERIOD ENDED 31 AUGUST 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Waterseal (Waterbar & Sealants) Limited for the period ended 31 August 2024 which comprise  the balance sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the board of directors of Waterseal (Waterbar & Sealants) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Waterseal (Waterbar & Sealants) Limited and state those matters that we have agreed to state to the board of directors of Waterseal (Waterbar & Sealants) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Waterseal (Waterbar & Sealants) Limited and its board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Waterseal (Waterbar & Sealants) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Waterseal (Waterbar & Sealants) Limited. You consider that Waterseal (Waterbar & Sealants) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Waterseal (Waterbar & Sealants) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Waltons Business Advisers Limited
 
Chartered Accountants
  
10 February 2025
Page 1

 
WATERSEAL (WATERBAR & SEALANTS) LIMITED
REGISTERED NUMBER: 01497596

BALANCE SHEET
AS AT 31 AUGUST 2024

31 August
30 September
2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
887,547
301,533

  
887,547
301,533

CURRENT ASSETS
  

Stocks
  
235,774
290,329

Debtors: amounts falling due after more than one year
 5 
558,710
501,900

Debtors: amounts falling due within one year
 5 
1,494,222
1,537,641

Cash at bank and in hand
  
504,162
501,746

  
2,792,868
2,831,616

Creditors: amounts falling due within one year
 6 
(1,366,374)
(1,705,247)

NET CURRENT ASSETS
  
 
 
1,426,494
 
 
1,126,369

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,314,041
1,427,902

Creditors: amounts falling due after more than one year
 7 
(657,060)
(262,725)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(219,653)
(73,869)

NET ASSETS
  
1,437,328
1,091,308


CAPITAL AND RESERVES
  

Called up share capital 
  
130,000
130,000

Profit and loss account
  
1,307,328
961,308

  
1,437,328
1,091,308


Page 2

 
WATERSEAL (WATERBAR & SEALANTS) LIMITED
REGISTERED NUMBER: 01497596
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr G L Weston
Director

Date: 7 February 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
WATERSEAL (WATERBAR & SEALANTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

1.


GENERAL INFORMATION

Waterseal (Waterbar & Sealants) Limited is a private company, limited by shares, incorporated in England & Wales, registration number 01497596.
The registered office is-
1 Weston Court
Ellerbeck Way
Stokesley Industrial Park
Stokesley
North Yorkshire
TS9 5GA

2.ACCOUNTING POLICIES

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors, having made due and careful enquiry and preparing forecasts, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements. 

  
2.3

Revenue

Revenue in respect of work carried out for supply of specialised waterproofing and jointing systems is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of revenue can be measured reliably;
• it is probable that the company will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
WATERSEAL (WATERBAR & SEALANTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
7-15 years straight line
Motor vehicles
-
4 years straight line
Fixtures & fittings
-
5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 43 (2023 - 45).

Page 5

 
WATERSEAL (WATERBAR & SEALANTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

4.


TANGIBLE FIXED ASSETS







Other fixed assets

£



Cost


At 1 October 2023
640,253


Additions
746,998


Disposals
(71,670)



At 31 August 2024

1,315,581



Depreciation


At 1 October 2023
338,720


Charge for the period on owned assets
34,276


Charge for the period on financed assets
88,534


Disposals
(33,496)



At 31 August 2024

428,034



Net book value



At 31 August 2024
887,547



At 30 September 2023
301,533

Page 6

 
WATERSEAL (WATERBAR & SEALANTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

           4.TANGIBLE FIXED ASSETS (CONTINUED)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


31 August
30 September
2024
2023
£
£



Motor vehicles
604,424
143,180

604,424
143,180


5.


DEBTORS

31 August
30 September
2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
558,710
501,900

558,710
501,900


31 August
30 September
2024
2023
£
£

Due within one year

Trade debtors
1,355,183
1,354,750

Other debtors
94,887
167,183

Prepayments and accrued income
44,152
15,708

1,494,222
1,537,641


Page 7

 
WATERSEAL (WATERBAR & SEALANTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

6.


CREDITORS: Amounts falling due within one year

31 August
30 September
2024
2023
£
£

Other loans - secured
53,250
53,250

Trade creditors
829,103
1,200,502

Corporation tax
83,302
143,160

Other taxation and social security
32,717
37,642

Obligations under finance lease and hire purchase contracts - secured
158,428
58,258

Other creditors
165,183
123,739

Accruals and deferred income
44,391
88,696

1,366,374
1,705,247



7.


CREDITORS: Amounts falling due after more than one year

31 August
30 September
2024
2023
£
£

Other loans - secured
155,313
204,125

Net obligations under finance leases and hire purchase contracts - secured
501,747
58,600

657,060
262,725


The net obligations under finance leases and hire purchase contracts are secured upon the assets to which they relate.
Other loans have been secured by the directors personally.

Page 8

 
WATERSEAL (WATERBAR & SEALANTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

8.


DEFERRED TAXATION






2024


£






At beginning of year
73,869


Charged to profit or loss
145,784



At end of year
219,653

The provision for deferred taxation is made up as follows:

31 August
30 September
2024
2023
£
£


Accelerated capital allowances
219,653
73,869

219,653
73,869


9.


CONTROLLING PARTY

The parent undertaking is Waterseal Holdings Limited (address: 1 Ellerbeck Way, Stokesley Business Park, Stokesley, England, TS9 5JZ) a company incorporated in England and Wales.
The parent undertaking is exempt from preparing consolidated accounts as the group is classified as a
small group.


10.


ACCOUNTING PERIOD

The accounting period runs from 1 October 2023 to 31 August 2024.

 
Page 9