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REGISTERED NUMBER: SC285661 (Scotland)




















WATERWISE UTILITIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






WATERWISE UTILITIES LTD (REGISTERED NUMBER: SC285661)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

WATERWISE UTILITIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D M Reddie
D N Reddie





REGISTERED OFFICE: 48 Cochno Street
Clydebank
Glasgow
G81 1RG





REGISTERED NUMBER: SC285661 (Scotland)





ACCOUNTANTS: JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD

WATERWISE UTILITIES LTD (REGISTERED NUMBER: SC285661)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,668 87,965

CURRENT ASSETS
Stocks 5 732,220 739,795
Debtors 6 591,334 689,089
Cash at bank and in hand 463,170 558,568
1,786,724 1,987,452
CREDITORS
Amounts falling due within one year 7 1,738,592 1,589,906
NET CURRENT ASSETS 48,132 397,546
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,800

485,511

CREDITORS
Amounts falling due after more than one
year

8

(6,300

)

(77,917

)

PROVISIONS FOR LIABILITIES 11 (12,629 ) (12,440 )
NET ASSETS 100,871 395,154

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 13 100,869 395,152
SHAREHOLDERS' FUNDS 100,871 395,154

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





D M Reddie - Director


WATERWISE UTILITIES LTD (REGISTERED NUMBER: SC285661)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Waterwise Utilities Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - straight line over 20 years
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stock and work in progress
Stocks and short term work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Long term contracts are reflected in the profit and loss account by including in turnover, the value of work undertaken to date and including in cost of sales, the costs incurred in connection with those valuations. Valuations include an appropriate proportion of the profit which can be foreseen with reasonable certainty at the balance sheet date. Full provision is made for any foreseeable losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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

Pension costs and other post-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.

WATERWISE UTILITIES LTD (REGISTERED NUMBER: SC285661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 29 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 35,566 52,920 97,393 49,312 235,191
Additions - 3,545 - 12,097 15,642
Disposals - (14,750 ) (15,000 ) (14,021 ) (43,771 )
At 30 June 2024 35,566 41,715 82,393 47,388 207,062
DEPRECIATION
At 1 July 2023 13,061 29,256 69,483 35,426 147,226
Charge for year 1,778 4,284 6,978 7,355 20,395
Eliminated on disposal - (5,867 ) (13,123 ) (13,237 ) (32,227 )
At 30 June 2024 14,839 27,673 63,338 29,544 135,394
NET BOOK VALUE
At 30 June 2024 20,727 14,042 19,055 17,844 71,668
At 30 June 2023 22,505 23,664 27,910 13,886 87,965

5. STOCKS
2024 2023
£    £   
Stocks 80,000 20,000
Work-in-progress 652,220 719,795
732,220 739,795

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 152,563 443,779
Retentions 190,324 158,011
Other debtors 75,289 4,131
Directors' current accounts 11,524 12,360
Corporation tax 30,433 -
VAT 68,168 64,066
Prepayments and accrued income 63,033 6,742
591,334 689,089

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 71,617 66,037
Hire purchase contracts (see note 9) - 2,208
Payments on account 625,475 424,710
Trade creditors 910,639 843,566
Corporation tax - 62,038
Social security and other taxes 43,557 27,174
Other creditors 68,185 146,701
Directors' current accounts - 4,551
Accrued charges 19,119 12,921
1,738,592 1,589,906

WATERWISE UTILITIES LTD (REGISTERED NUMBER: SC285661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 6,300 77,917

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 2,208

Non-cancellable operating leases
2024 2023
£    £   
Within one year 17,918 18,320
Between one and five years 1,212 3,630
19,130 21,950

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 1,272
Bank loans 77,917 142,682
Hire purchase contracts - 2,208
77,917 146,162

The bank overdraft and loan are secured by a floating charge over the assets of the company.

The director has granted a personal guarantee in respect of the bank borrowings.

Hire purchase contracts and finance leases are secured over the assets to which the contracts relate.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 12,629 12,440

Deferred
tax
£   
Balance at 1 July 2023 12,440
Charge to Income Statement during year 189
Balance at 30 June 2024 12,629

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

WATERWISE UTILITIES LTD (REGISTERED NUMBER: SC285661)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £.01 2 2

13. RESERVES
Retained
earnings
£   

At 1 July 2023 395,152
Deficit for the year (192,126 )
Dividends (102,157 )
At 30 June 2024 100,869

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
D M Reddie
Balance outstanding at start of year 12,360 2,200
Amounts advanced 4,833 91,713
Amounts repaid (12,360 ) (81,553 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,833 12,360

K I Sweeney
Balance outstanding at start of year - -
Amounts advanced 6,691 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,691 -

The loan is unsecured, interest free and is repayable on demand.

15. RELATED PARTY DISCLOSURES

The company was charged rent of £1,200 per month for the use of offices owned by Waterwise Consultancy Ltd a company wholly owned by the mutual director Mr D M Reddie. Future commitments relating to this lease have been disclosed.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WATERWISE UTILITIES LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Waterwise Utilities Ltd for the year ended 30 June 2024 which comprise the Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Waterwise Utilities Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Waterwise Utilities Ltd and state those matters that we have agreed to state to the Board of Directors of Waterwise Utilities Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Waterwise Utilities Ltd 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 loss of Waterwise Utilities Ltd. You consider that Waterwise Utilities Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Waterwise Utilities Ltd. 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.






JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD


20 March 2025