REGISTERED NUMBER: 01792032 (England and Wales)

Financial Statements

for the Year Ended 31st December 2024

for

WATERSIDE LABORATORIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Salmon

C P Smith

REGISTERED OFFICE:

Unit 39 South Hampshire Industrial Park

Totton

Southampton

Hampshire

SO40 3SA

REGISTERED NUMBER:

01792032 (England and Wales)

ACCOUNTANTS:

Attenboroughs (Accountants) Limited

Chartered Certified Accountants

1 Tower House

Tower Centre

Hoddesdon

Hertfordshire

EN11 8UR

FIXED ASSETS

Intangible assets

4

1,243

1,073

Tangible assets

5

881,632

947,965

882,875

949,038

CURRENT ASSETS

Stocks

6

452,941

453,677

Debtors

7

741,096

748,875

Cash at bank

34

34

1,194,071

1,202,586

CREDITORS

Amounts falling due within one year

8

312,148

331,978

NET CURRENT ASSETS

881,923

870,608

TOTAL ASSETS LESS CURRENT LIABILITIES

1,764,798

1,819,646

CREDITORS

Amounts falling due after more than one year

9

(25,000

)

(85,000

)

PROVISIONS FOR LIABILITIES

(121,117

)

(135,077

)

NET ASSETS

1,618,681

1,599,569

CAPITAL AND RESERVES

Called up share capital

11

10,000

10,000

Revaluation reserve

12

215,795

215,795

Retained earnings

12

1,392,886

1,373,774

SHAREHOLDERS' FUNDS

1,618,681

1,599,569

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 31st March 2025 and were signed on its behalf by:

P A Salmon - Director

1.	STATUTORY INFORMATION

Waterside Laboratories 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.

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.

Intangible assets

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.

Trademarks are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

Over the period of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks and 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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 26 ) .

4.	INTANGIBLE FIXED ASSETS

Trademarks

£

COST

At 1st January 2024

1,225

Additions

325

At 31st December 2024

1,550

AMORTISATION

At 1st January 2024

152

Amortisation for year

155

At 31st December 2024

307

NET BOOK VALUE

At 31st December 2024

1,243

At 31st December 2023

1,073

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1st January 2024

475,000

1,935,977

23,846

42,113

2,476,936

Additions

-

2,265

595

3,745

6,605

Disposals

-

-

(795

)

-

(795

)

At 31st December 2024

475,000

1,938,242

23,646

45,858

2,482,746

DEPRECIATION

At 1st January 2024

1,965

1,473,015

16,571

37,420

1,528,971

Charge for year

491

69,784

1,143

1,265

72,683

Eliminated on disposal

-

-

(540

)

-

(540

)

At 31st December 2024

2,456

1,542,799

17,174

38,685

1,601,114

NET BOOK VALUE

At 31st December 2024

472,544

395,443

6,472

7,173

881,632

At 31st December 2023

473,035

462,962

7,275

4,693

947,965

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1st January 2024

143,007

Transfer to ownership

(143,007

)

At 31st December 2024

-

DEPRECIATION

At 1st January 2024

39,685

Charge for year

2,213

Transfer to ownership

(41,898

)

At 31st December 2024

-

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

103,322

6.

STOCKS

31/12/24

31/12/23

£

£

Stocks

442,973

447,377

Work-in-progress

9,968

6,300

452,941

453,677

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

195,099

218,298

Amounts owed by group undertakings

520,109

506,917

Other debtors

3,992

4,967

Prepayments

21,896

18,693

741,096

748,875

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts (see note 10)

123,101

145,215

Hire purchase contracts

-

49,067

Trade creditors

76,407

53,449

Tax

20,337

3,440

Social security and other taxes

20,893

19,267

VAT

54,123

45,807

Accrued expenses

17,287

15,733

312,148

331,978

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans (see note 10)

25,000

85,000

10.

LOANS

An analysis of the maturity of loans is given below:

31/12/24

31/12/23

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

63,101

85,215

Bank loans

60,000

60,000

123,101

145,215

Amounts falling due between one and two years:

Bank loans - 1-2 years

25,000

60,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

25,000

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

10,000

Ordinary

£1

10,000

10,000

12.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1st January 2024

1,373,774

215,795

1,589,569

Profit for the year

19,112

19,112

At 31st December 2024

1,392,886

215,795

1,608,681

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are the directors by virtue of their shareholding.