Company registration number 04007782 (England and Wales)
Rawwater Engineering Company Limited
Unaudited financial statements
For the year ended 31 August 2024
Rawwater Engineering Company Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Rawwater Engineering Company Limited
Statement of financial position
As at 31 August 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,391
2,782
Tangible assets
4
83,158
105,950
84,549
108,732
Current assets
Debtors
5
982,537
901,405
Cash at bank and in hand
95,769
74,339
1,078,306
975,744
Creditors: amounts falling due within one year
6
(131,632)
(168,764)
Net current assets
946,674
806,980
Net assets
1,031,223
915,712
Capital and reserves
Called up share capital
574
574
Profit and loss reserves
1,030,649
915,138
Total equity
1,031,223
915,712

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 February 2025 and are signed on its behalf by:
Dr R D Eden
Director
Company registration number 04007782 (England and Wales)
Rawwater Engineering Company Limited
Notes to the financial statements
For the year ended 31 August 2024
- 2 -
1
Accounting policies
Company information

Rawwater Engineering Company Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Included in intangible fixed assets is the construction of the new website. No amortisation has been charged in the year under review. Once the asset is brought into use amortisation will be charged so as to write off the cost or valuation of the asset over the useful life on the basis below:

Website
3 years
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Rawwater Engineering Company Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

1.8
Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
10
14
Rawwater Engineering Company Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
- 4 -
3
Intangible fixed assets
Other
£
Cost
At 1 September 2023 and 31 August 2024
4,173
Amortisation and impairment
At 1 September 2023
1,391
Amortisation charged for the year
1,391
At 31 August 2024
2,782
Carrying amount
At 31 August 2024
1,391
At 31 August 2023
2,782
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 and 31 August 2024
480,761
Depreciation and impairment
At 1 September 2023
374,811
Depreciation charged in the year
22,792
At 31 August 2024
397,603
Carrying amount
At 31 August 2024
83,158
At 31 August 2023
105,950
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
82,950
24,600
Corporation tax recoverable
35,990
197,395
Amounts owed by group undertakings
108,027
61,042
Other debtors
755,570
618,368
982,537
901,405
Rawwater Engineering Company Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,838
13,158
Corporation tax
92,500
117,828
Other taxation and social security
22,431
31,509
Other creditors
12,863
6,269
131,632
168,764
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
-
57,759
168,893
(60,346)
166,306
57,759
168,893
(60,346)
166,306
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