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H2O FlowTech Ltd

Unaudited Abridged Financial Accounts

for the Year Ended 31 August 2024

Registration number: 8491199

 

H2O FlowTech Ltd

Contents

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

H2O FlowTech Ltd

Company Information

Directors

Mr M A Brindle

Mr M A Fielding

Registered office

Unit 5
Phoenix House
Brierley Street
Bury
Lancashire
BL9 9HN
 

Accountants

Gortons
Chartered Accountants
Stanmore House
64-68 Blackburn Street
Radcliffe
Manchester
M26 2JS

 

H2O FlowTech Ltd

(Registration number: 8491199)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

5

 

11,541

 

15,117

Current assets

   

 

Stocks

6

58,060

 

59,924

 

Debtors

583,609

 

515,134

 

Cash at bank and in hand

 

77,730

 

91,816

 

 

719,399

 

666,874

 

Prepayments and accrued income

 

45,558

 

48,131

 

Creditors: Amounts falling due within one year

(546,197)

 

(487,998)

 

Net current assets

   

218,760

 

227,007

Total assets less current liabilities

   

230,301

 

242,124

Creditors: Amounts falling due after more than one year

 

(19,023)

 

(29,539)

Accruals and deferred income

   

(76,358)

 

(47,159)

Net assets

   

134,920

 

165,426

Capital and reserves

   

 

Called up share capital

7

100

 

100

 

Share premium reserve

85,528

 

85,528

 

Profit and loss account

49,292

 

79,798

 

Shareholders' funds

   

134,920

 

165,426

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 May 2025, and confirmed on the Board's behalf by:
 


Mr M A Brindle
Director

 

H2O FlowTech Ltd

Notes to the Unaudited Abridged 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 and the company's registration number is 8491199. The business and registered office address is Unit 5, Phoenix House, Brierley Street, Bury, Lancashire, BL9 9HN.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

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

Turnover

Turnover represents the invoiced value of good and services supplied in the year, net of value added tax.

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

Plant and machinery

25% Straight line method

Office equipment

33.3% Straight line method

Goodwill

Positive goodwill is capitalised, classified as an asset on the Balance Sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line method

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

H2O FlowTech Ltd

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

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 18 (2023 - 17).

4

Intangible assets

Total
£

Cost or valuation

At 1 September 2023

137,833

At 31 August 2024

137,833

Amortisation

At 1 September 2023

137,833

At 31 August 2024

137,833

Carrying amount

At 31 August 2024

-

5

Tangible assets

Total
£

Cost or valuation

At 1 September 2023

83,815

Additions

6,120

At 31 August 2024

89,935

Depreciation

At 1 September 2023

68,698

Charge for the year

9,696

At 31 August 2024

78,394

Carrying amount

At 31 August 2024

11,541

At 31 August 2023

15,117

 

H2O FlowTech Ltd

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

6

Stocks

2024
£

2023
£

Work in progress

21,335

23,988

Stock

36,725

35,936

58,060

59,924

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £38,084 (2023 - £18,802).

Amounts disclosed in the balance sheet

Included in the balance sheet are employer pension contributions paid after date of £1,267 (2023 - £1,109).

9

Related party transactions

One of the directors had a loan with the company which was overdrawn by £38,251 at the year end (2023 - £34,977). Advances of £109,250 and repayments of £105,976 were made in the year. The maximum this loan was overdrawn in the year was £109,315 (2023 - £95,368).

Another director had a loan with the company which was overdrawn by £15,228 at the year end (2023 - £16,181). Advances of £103,173 and repayments of £104,126 were made in the year. The maximum this loan was overdrawn in the year was £85,093 (2023 - £77,079).

Interest is charged on these loans on a commercial basis and they are repayable on demand.