27 26 Aquacut Limited 03492068 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is to serve the tiling, landscape and building sectors. These activities are; Digita Accounts Production Advanced 6.30.9574.0 true true 03492068 2023-09-01 2024-08-31 03492068 2024-08-31 03492068 core:FinanceLeases core:CurrentFinancialInstruments 2024-08-31 03492068 core:FinanceLeases core:Non-currentFinancialInstruments 2024-08-31 03492068 core:CurrentFinancialInstruments 2024-08-31 03492068 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 03492068 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 03492068 core:LandBuildings 2024-08-31 03492068 core:OtherPropertyPlantEquipment 2024-08-31 03492068 bus:SmallEntities 2023-09-01 2024-08-31 03492068 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 03492068 bus:FilletedAccounts 2023-09-01 2024-08-31 03492068 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 03492068 bus:RegisteredOffice 2023-09-01 2024-08-31 03492068 bus:Director3 2023-09-01 2024-08-31 03492068 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03492068 core:Buildings 2023-09-01 2024-08-31 03492068 core:LandBuildings 2023-09-01 2024-08-31 03492068 core:MotorVehicles 2023-09-01 2024-08-31 03492068 core:OfficeEquipment 2023-09-01 2024-08-31 03492068 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 03492068 core:PlantMachinery 2023-09-01 2024-08-31 03492068 countries:EnglandWales 2023-09-01 2024-08-31 03492068 2023-08-31 03492068 core:LandBuildings 2023-08-31 03492068 core:OtherPropertyPlantEquipment 2023-08-31 03492068 2022-09-01 2023-08-31 03492068 2023-08-31 03492068 core:FinanceLeases core:CurrentFinancialInstruments 2023-08-31 03492068 core:FinanceLeases core:Non-currentFinancialInstruments 2023-08-31 03492068 core:CurrentFinancialInstruments 2023-08-31 03492068 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 03492068 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 03492068 core:LandBuildings 2023-08-31 03492068 core:OtherPropertyPlantEquipment 2023-08-31 xbrli:pure iso4217:GBP

Registration number: 03492068

Aquacut Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Aquacut Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Aquacut Limited

(Registration number: 03492068)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

611,797

646,133

Current assets

 

Stocks

6

394,107

477,099

Debtors

7

218,460

246,684

Cash at bank and in hand

 

164,944

268,875

 

777,511

992,658

Creditors: Amounts falling due within one year

8

(446,434)

(460,532)

Net current assets

 

331,077

532,126

Total assets less current liabilities

 

942,874

1,178,259

Creditors: Amounts falling due after more than one year

8

(378,723)

(426,030)

Net assets

 

564,151

752,229

Capital and reserves

 

Called up share capital

158,000

158,000

Retained earnings

406,151

594,229

Shareholders' funds

 

564,151

752,229

 

Aquacut Limited

(Registration number: 03492068)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 April 2025 and signed on its behalf by:

.........................................

S C Middleton
Director

 

Aquacut Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4a Stretton Distribution Centre
Off Grappenhall Lane,
Appleton
Warrington
Cheshire
WA4 4QT
England

These financial statements were authorised for issue by the Board on 23 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Aquacut Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% Straight line

Plant and machinery

15% Reducing balance

Motor vehicles

25% Reducing balance

Office equipment

25% Reducing balance

Borrowings

 

Aquacut Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 26).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

52,052

49,791

 

Aquacut Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Land and buildings
£

Plant and Machinery
£

Total
£

Cost or valuation

At 1 September 2023

477,072

465,309

942,381

Additions

6,050

40,740

46,790

Disposals

-

(44,019)

(44,019)

At 31 August 2024

483,122

462,030

945,152

Depreciation

At 1 September 2023

62,126

234,122

296,248

Charge for the year

10,934

41,118

52,052

Eliminated on disposal

-

(14,945)

(14,945)

At 31 August 2024

73,060

260,295

333,355

Carrying amount

At 31 August 2024

410,062

201,735

611,797

At 31 August 2023

414,946

231,187

646,133

Included in creditors is a loan of £440,863 (2023: £468,522) from P Middleton which is secured against the company's premises.

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

394,107

477,099

7

Debtors

Current

2024
£

2023
£

Trade debtors

158,185

210,905

Prepayments

60,112

10,071

Other debtors

163

25,708

 

218,460

246,684

 

Aquacut Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

3,224

3,224

Trade creditors

 

161,877

203,554

Taxation and social security

 

82,742

123,340

Accruals and deferred income

 

111,087

42,221

Other creditors

 

87,504

88,193

 

446,434

460,532

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

9,284

12,508

Other non-current financial liabilities

 

369,439

413,522

 

378,723

426,030

 

Aquacut Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Finance lease liabilities

9,284

12,508

Current loans and borrowings

2024
£

2023
£

Finance lease liabilities

3,224

3,224