AQUAFORCE PLUMBING SOLUTIONS LIMITED
Registered number: 04854560
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 331,664 325,396
Current assets
Stocks 230,881 310,139
Debtors 4 314,845 429,916
Cash at bank and in hand 400,602 47,542
946,328 787,597
Creditors: amounts falling due within one year 5 (580,173) (406,931)
Net current assets 366,155 380,666
Total assets less current liabilities 697,819 706,062
Creditors: amounts falling due after more than one year 6 (98,958) (62,250)
Provisions for liabilities (14,901) (12,182)
Net assets 583,960 631,630
Capital and reserves
Called up share capital 2 2
Profit and loss account 583,958 631,628
Shareholders' funds 583,960 631,630
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C E Wood
Director
Approved by the board on 12 December 2024
AQUAFORCE PLUMBING SOLUTIONS LIMITED
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land & Buildings straight line over 50 years
Equipment, fixtures & fittings 20% written down value
Motor vehicles 25% written down value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 27 30
3 Tangible fixed assets
Land and buildings Equipment, fixtures & fittings Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 321,340 241,575 56,839 619,754
Additions - 12,807 24,265 37,072
At 31 August 2024 321,340 254,382 81,104 656,826
Depreciation
At 1 September 2023 65,902 189,343 39,113 294,358
Charge for the year 7,298 13,007 10,499 30,804
At 31 August 2024 73,200 202,350 49,612 325,162
Net book value
At 31 August 2024 248,140 52,032 31,492 331,664
At 31 August 2023 255,438 52,232 17,726 325,396
4 Debtors 2024 2023
£ £
Trade debtors 279,960 394,624
Other debtors 34,885 35,292
314,845 429,916
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 21,225 51,543
Obligations under finance lease and hire purchase contracts 8,076 -
Trade creditors 313,473 175,020
Amounts owed to group undertakings and undertakings in which the company has a participating interest 55,268 35,808
Corporation tax 67,094 44,336
Other taxes and social security costs 77,064 56,460
Other creditors 37,973 43,764
580,173 406,931
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 90,208 62,250
Obligations under finance lease and hire purchase contracts 8,750 -
98,958 62,250
7 Other information
AQUAFORCE PLUMBING SOLUTIONS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
105 Redbrook Road
Barnsley
South Yorkshire
S75 2RG
AQUAFORCE PLUMBING SOLUTIONS LIMITED 04854560 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2024 C E Wood No description of principal activity 04854560 2022-09-01 2023-08-31 04854560 core:WithinOneYear 2023-08-31 04854560 core:AfterOneYear 2023-08-31 04854560 core:ShareCapital 2023-08-31 04854560 core:RetainedEarningsAccumulatedLosses 2023-08-31 04854560 2023-09-01 2024-08-31 04854560 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04854560 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04854560 bus:Director40 2023-09-01 2024-08-31 04854560 1 2023-09-01 2024-08-31 04854560 2 2023-09-01 2024-08-31 04854560 core:LandBuildings 2023-09-01 2024-08-31 04854560 core:PlantMachinery 2023-09-01 2024-08-31 04854560 core:Vehicles 2023-09-01 2024-08-31 04854560 countries:England 2023-09-01 2024-08-31 04854560 bus:FRS102 2023-09-01 2024-08-31 04854560 bus:FilletedAccounts 2023-09-01 2024-08-31 04854560 2024-08-31 04854560 core:WithinOneYear 2024-08-31 04854560 core:AfterOneYear 2024-08-31 04854560 core:ShareCapital 2024-08-31 04854560 core:RetainedEarningsAccumulatedLosses 2024-08-31 04854560 core:LandBuildings 2024-08-31 04854560 core:PlantMachinery 2024-08-31 04854560 core:Vehicles 2024-08-31 04854560 2023-08-31 04854560 core:LandBuildings 2023-08-31 04854560 core:PlantMachinery 2023-08-31 04854560 core:Vehicles 2023-08-31 iso4217:GBP xbrli:pure