Company registration number 07122574 (England and Wales)
Rawwater Engineering Limited
Unaudited financial statements
For the year ended 31 August 2024
Rawwater Engineering Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Rawwater Engineering Limited
Statement of financial position
As at 31 August 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
112,651
121,972
Tangible assets
4
68
112,651
122,040
Current assets
Debtors
5
31,465
17,756
Cash at bank and in hand
2,685
3,882
34,150
21,638
Creditors: amounts falling due within one year
6
(114,877)
(100,887)
Net current liabilities
(80,727)
(79,249)
Net assets
31,924
42,791
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
31,922
42,789
Total equity
31,924
42,791
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 director acknowledges his 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 director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 28 February 2025
Dr R D Eden
Director
Company registration number 07122574 (England and Wales)
Rawwater Engineering Limited
Notes to the financial statements
For the year ended 31 August 2024
- 2 -
1
Accounting policies
Company information
Rawwater Engineering 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 are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Patents and licences
10% on cost
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:
IT equipment
33% on cost
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Rawwater Engineering Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 3 -
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
Rawwater Engineering 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
262,145
Additions
75,924
Disposals
(42,332)
At 31 August 2024
295,737
Amortisation and impairment
At 1 September 2023
140,173
Amortisation charged for the year
30,543
Impairment losses
39,084
Disposals
(26,714)
At 31 August 2024
183,086
Carrying amount
At 31 August 2024
112,651
At 31 August 2023
121,972
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 and 31 August 2024
1,045
Depreciation and impairment
At 1 September 2023
977
Depreciation charged in the year
68
At 31 August 2024
1,045
Carrying amount
At 31 August 2024
At 31 August 2023
68
Rawwater Engineering Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
358
Other debtors
26,069
16,981
Prepayments and accrued income
5,396
417
31,465
17,756
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
29,096
Amounts owed to group undertakings
108,027
61,042
Taxation and social security
900
Other creditors
3,695
3,571
Accruals and deferred income
2,255
7,178
114,877
100,887
7
Ultimate parent company
The immediate parent company is Rawwater Engineering Company Limited who are registered at 2nd Floor, St George's House, 56 Peter Street, Manchester, M2 3NQ.