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Registered number: 03862496
Irrigation Control Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Haywards Chartered Accountants
4 Bridgeman Terrace
Wigan
Lancs
WN1 1SX
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 03862496
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 583,465 504,990
583,465 504,990
CURRENT ASSETS
Stocks 5 156,000 156,000
Debtors 6 429,133 505,233
Cash at bank and in hand 1,452,257 1,108,301
2,037,390 1,769,534
Creditors: Amounts Falling Due Within One Year 7 (386,981 ) (187,217 )
NET CURRENT ASSETS (LIABILITIES) 1,650,409 1,582,317
TOTAL ASSETS LESS CURRENT LIABILITIES 2,233,874 2,087,307
PROVISIONS FOR LIABILITIES
Deferred Taxation (96,714 ) (48,357 )
NET ASSETS 2,137,160 2,038,950
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 2,137,158 2,038,948
SHAREHOLDERS' FUNDS 2,137,160 2,038,950
For the year ending 28 February 2025 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
Mr Philip Breakey
Director
29 May 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Irrigation Control Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03862496 . The registered office is 8b Slutchers Lane, Centre Park, Warrington, Cheshire, WA1 1QL.
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 Fully depreciated
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% reducing balance
2.4. 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.
2.5. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2024: 13)
15 13
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 29 February 2024 31,675 974,275 543,732 35,979
Additions - 193,082 80,697 -
Disposals - - (164,582 ) -
As at 28 February 2025 31,675 1,167,357 459,847 35,979
Depreciation
As at 29 February 2024 31,675 677,170 340,008 35,420
Provided during the period - 122,547 70,786 140
Disposals - - (163,303 ) -
As at 28 February 2025 31,675 799,717 247,491 35,560
Net Book Value
As at 28 February 2025 - 367,640 212,356 419
As at 29 February 2024 - 297,105 203,724 559
Computer Equipment Total
£ £
Cost
As at 29 February 2024 36,633 1,622,294
Additions 950 274,729
Disposals - (164,582 )
As at 28 February 2025 37,583 1,732,441
Depreciation
As at 29 February 2024 33,031 1,117,304
Provided during the period 1,502 194,975
Disposals - (163,303 )
As at 28 February 2025 34,533 1,148,976
Net Book Value
As at 28 February 2025 3,050 583,465
As at 29 February 2024 3,602 504,990
5. Stocks
2025 2024
£ £
Materials 156,000 156,000
Page 3
Page 4
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 334,750 444,668
Prepayments and accrued income 21,023 30,900
Other debtors 73,360 29,665
429,133 505,233
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 20,508 80,070
Corporation tax 189,637 20,556
Other taxes and social security 14,572 16,386
VAT 68,972 66,390
Other creditors 145 145
Accruals and deferred income 93,147 3,670
386,981 187,217
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
Page 4