H2O FlowTech Ltd
for the
Year Ended 31 August 2024
Registration number:
H2O FlowTech Ltd
Contents
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Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
H2O FlowTech Ltd
Company Information
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Directors |
Mr M A Brindle Mr M A Fielding |
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Registered office |
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Accountants |
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H2O FlowTech Ltd
(Registration number: 8491199)
Abridged Balance Sheet as at 31 August 2024
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2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Accruals and deferred income |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Profit and loss account |
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Shareholders' funds |
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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:
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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.
Approved and authorised by the
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H2O FlowTech Ltd
Notes to the Unaudited Abridged Financial Statements
for the Year Ended 31 August 2024
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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.
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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:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
25% Straight line method |
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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:
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Asset class |
Amortisation method and rate |
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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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Intangible assets |
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Total |
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Cost or valuation |
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At 1 September 2023 |
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At 31 August 2024 |
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Amortisation |
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At 1 September 2023 |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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Tangible assets |
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Total |
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Cost or valuation |
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At 1 September 2023 |
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Additions |
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At 31 August 2024 |
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Depreciation |
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At 1 September 2023 |
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Charge for the year |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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At 31 August 2023 |
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H2O FlowTech Ltd
Notes to the Unaudited Abridged Financial Statements
for the Year Ended 31 August 2024
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Stocks |
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2024 |
2023 |
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Work in progress |
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Stock |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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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 £
Amounts disclosed in the balance sheet
Included in the balance sheet are employer pension contributions paid after date of £1,267 (2023 - £1,109).
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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.