Silverfin false false 31/05/2024 11/05/2023 31/05/2024 Iain Washer 11/05/2023 Sally-Anne Woodall 11/05/2023 23 April 2025 The principal activity of the Company during the financial period was water asset consultancy. SC768988 2024-05-31 SC768988 bus:Director1 2024-05-31 SC768988 bus:Director2 2024-05-31 SC768988 core:CurrentFinancialInstruments 2024-05-31 SC768988 core:ShareCapital 2024-05-31 SC768988 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC768988 core:OtherPropertyPlantEquipment 2023-05-10 SC768988 2023-05-10 SC768988 core:OtherPropertyPlantEquipment 2024-05-31 SC768988 bus:OrdinaryShareClass1 2024-05-31 SC768988 bus:OrdinaryShareClass2 2024-05-31 SC768988 core:KeyManagementPersonnel 2024-05-31 SC768988 2023-05-11 2024-05-31 SC768988 bus:FilletedAccounts 2023-05-11 2024-05-31 SC768988 bus:SmallEntities 2023-05-11 2024-05-31 SC768988 bus:AuditExemptWithAccountantsReport 2023-05-11 2024-05-31 SC768988 bus:PrivateLimitedCompanyLtd 2023-05-11 2024-05-31 SC768988 bus:Director1 2023-05-11 2024-05-31 SC768988 bus:Director2 2023-05-11 2024-05-31 SC768988 core:OtherPropertyPlantEquipment 2023-05-11 2024-05-31 SC768988 bus:OrdinaryShareClass1 2023-05-11 2024-05-31 SC768988 bus:OrdinaryShareClass2 2023-05-11 2024-05-31 SC768988 core:KeyManagementPersonnel 2023-05-11 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC768988 (Scotland)

IIWAS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 11 MAY 2023 TO 31 MAY 2024
PAGES FOR FILING WITH THE REGISTRAR

IIWAS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 11 MAY 2023 TO 31 MAY 2024

Contents

IIWAS LTD

BALANCE SHEET

AS AT 31 MAY 2024
IIWAS LTD

BALANCE SHEET (continued)

AS AT 31 MAY 2024
Note 31.05.2024
£
Fixed assets
Tangible assets 3 1,363
1,363
Current assets
Cash at bank and in hand 4 40,200
40,200
Creditors: amounts falling due within one year 5 ( 29,427)
Net current assets 10,773
Total assets less current liabilities 12,136
Provision for liabilities 6 ( 341)
Net assets 11,795
Capital and reserves
Called-up share capital 7 100
Profit and loss account 11,695
Total shareholders' funds 11,795

For the financial period ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of iiWaS Ltd (registered number: SC768988) were approved and authorised for issue by the Board of Directors on 23 April 2025. They were signed on its behalf by:

Iain Washer
Director
IIWAS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 11 MAY 2023 TO 31 MAY 2024
IIWAS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 11 MAY 2023 TO 31 MAY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

iiWaS Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Rowan Tree Barn South Burnside, Saline, Dunfermline, KY12 9LN, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

The company became VAT registered on 1 November 2023 and after this date turnover is recognised net of VAT.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews 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).

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

Period from
11.05.2023 to
31.05.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 11 May 2023 0 0
Additions 1,574 1,574
At 31 May 2024 1,574 1,574
Accumulated depreciation
At 11 May 2023 0 0
Charge for the financial period 211 211
At 31 May 2024 211 211
Net book value
At 31 May 2024 1,363 1,363

4. Cash and cash equivalents

31.05.2024
£
Cash at bank and in hand 40,200

5. Creditors: amounts falling due within one year

31.05.2024
£
Taxation and social security 26,477
Other creditors 2,950
29,427

6. Deferred tax

31.05.2024
£
At the beginning of financial period 0
Charged to the Profit and Loss Account ( 341)
At the end of financial period ( 341)

7. Called-up share capital

31.05.2024
£
Allotted, called-up and fully-paid
70 A ordinary shares of £ 1.00 each 70
30 B ordinary shares of £ 1.00 each 30
100

8. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

31.05.2024
£
Directors' Loan Account 201

Advances were made to the directors in the year totalling £82,004 and Repayments of £82,235. Interest was charged totalling £30. The balance due to the directors is unsecured and have no fixed terms of repayment.