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Registered number: 04043276
Aqua Construction Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Company Information 1
Balance Sheet 3—4
Notes to the Financial Statements 5—9
Page 1
Company Information
Directors J E Wasley
D A Gibbs
Secretary S L Wasley
Company Number 04043276
Registered Office Severn Farm Elmore Lane West
Quedgeley
Gloucester
Glos
GL2 3NW
Accountants AP&Co.
Chartered Accountants
1 Court Mews
London Road
Cheltenham
Glos
GL52 6HS
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Review of the Business 
The company continues to undertake new build housing contracts mainly for partnered housing associations delivering land lead or tendered developments throughout Gloucestershire.  
2024
Investment in replacing old vans, plant and machinery continued into 2024 not only on site but updating ageing computers, telephone systems and upgrading software programmes was also a significant part of further investment. 
As the tallest building project we have ever built to date was completed and successfully handed over in March, we also had one of the largest contract value developments in full swing which became a key anchor project throughout the year. 
The construction Industry was a very daunting place in 2024, the increase in insolvencies and seeing long established companies disappear, painted a very dark picture and showed just how turbulent a period we had weaved our way through as a business. 
Strong leadership from the management teams and shear hard work from key employees has kept the company on an upward path increasing sales growth year on year by a further 14%.
The company stayed financially cash positive throughout the year, increasing company reserves. With a steady stream of land and tender opportunities we are encouraged that further business growth will be achievable into 2025/26 creating internal promotions and further strengthening the management team.
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Page 3
Balance Sheet
Registered number: 04043276
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 597,223 600,531
597,223 600,531
CURRENT ASSETS
Stocks 282,650 291,102
Debtors 5 838,934 1,196,281
Cash at bank and in hand 796,185 543,931
1,917,769 2,031,314
Creditors: Amounts Falling Due Within One Year 6 (878,259 ) (1,107,839 )
NET CURRENT ASSETS (LIABILITIES) 1,039,510 923,475
TOTAL ASSETS LESS CURRENT LIABILITIES 1,636,733 1,524,006
Creditors: Amounts Falling Due After More Than One Year 7 (148,134 ) (193,417 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (66,412 ) -
Deferred Taxation (134,948 ) (134,859 )
NET ASSETS 1,287,239 1,195,730
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,287,139 1,195,630
SHAREHOLDERS' FUNDS 1,287,239 1,195,730
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
J E Wasley
Director
01/05/2025
The notes on pages 5 to 9 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
Aqua Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04043276 . The registered office is Severn Farm Elmore Lane West, Quedgeley, Gloucester, Glos, GL2 3NW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 1% Straight Line
Plant & Machinery 10% Reducing Balance
Motor Vehicles Variable rates on Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 33% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 24)
25 24
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 619,998 240,276 90,056 34,377 984,707
Additions 87,704 80,545 314 6,142 174,705
Disposals (71,775 ) (17,651 ) (5,439 ) (22,810 ) (117,675 )
As at 31 December 2024 635,927 303,170 84,931 17,709 1,041,737
Depreciation
As at 1 January 2024 202,835 87,868 69,295 24,178 384,176
Provided during the period 82,504 37,289 3,825 4,958 128,576
Disposals (29,067 ) (15,197 ) (3,650 ) (20,324 ) (68,238 )
As at 31 December 2024 256,272 109,960 69,470 8,812 444,514
Net Book Value
As at 31 December 2024 379,655 193,210 15,461 8,897 597,223
As at 1 January 2024 417,163 152,408 20,761 10,199 600,531
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 213,172 216,176
Motor Vehicles 121,697 116,633
334,869 332,809
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 492,208 831,345
Prepayments and accrued income 3,570 8,357
Other debtors 27,275 22,298
VAT 28,164 30,977
551,217 892,977
Due after more than one year
Other debtors 287,717 303,304
838,934 1,196,281
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 66,867 50,820
Trade creditors 551,630 910,944
Bank loans and overdrafts 33,333 33,334
Corporation tax 152,260 49,082
Other taxes and social security 48,209 42,214
Other creditors 19,799 16,008
Accruals and deferred income 5,924 5,200
Directors' loan accounts 237 237
878,259 1,107,839
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 111,467 116,751
Bank loans - 1-2 years 33,333 33,333
Bank loans - 2-5 years 3,334 43,333
148,134 193,417
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 66,867 50,820
Later than one year and not later than five years 111,467 116,751
178,334 167,571
178,334 167,571
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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10. Related Party Transactions
As at 31 December 2024, the company had a loan balance of £631 (2023 - £5,984) due to Severn Farm Limited, a company which owns 100% of the company's share capital.
During the year, the company made a loan of £791 (2023 - £673) to Parkend Developments Limited, a company of which Mr J Wasley, a director of the company, is a majority shareholder. As at 31 December 2024, the company had a debtor balance of £1,464 (2023 - £50,673) due from Parkend Developments Limited.
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr J E Wasley .
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