AQUAFORCE GROUP LTD.

Company Registration Number:
03369627 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

AQUAFORCE GROUP LTD.

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

AQUAFORCE GROUP LTD.

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 1,042,010 1,067,633
Investments: 4 235,059 149,999
Total fixed assets: 1,277,069 1,217,632
Current assets
Stocks: 1,992,528 2,464,190
Debtors:   2,274,420 2,490,420
Cash at bank and in hand: 5,570 37,358
Total current assets: 4,272,518 4,991,968
Creditors: amounts falling due within one year: 5 (2,855,481) (3,785,647)
Net current assets (liabilities): 1,417,037 1,206,321
Total assets less current liabilities: 2,694,106 2,423,953
Total net assets (liabilities): 2,694,106 2,423,953
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 2,694,104 2,423,951
Shareholders funds: 2,694,106 2,423,953

The notes form part of these financial statements

AQUAFORCE GROUP LTD.

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 May 2025
and signed on behalf of the board by:

Name: R J NEWSON
Status: Director

The notes form part of these financial statements

AQUAFORCE GROUP LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, stated net of discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is calculated to write down the cost of all tangible fixed assets by equal annual instalments over their expected useful lives. The rates generally applicable are: Long leasehold property - 2% on cost Plant and equipment - 10% on cost

Other accounting policies

Stock Stock is valued at the lower of cost and net realisable value. Going concern After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. Debtors Short term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Creditors Short term trade creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current and deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that * The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and * Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the difference between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using the tax rates that have been enacted or substantively enacted by the reporting date. Financial instruments The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable or payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted are a market rate of interest for a similar debt instrument and subsequently at amortised cost.

AQUAFORCE GROUP LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 3 3

AQUAFORCE GROUP LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible Assets

Total
Cost £
At 01 June 2023 1,078,998
Additions 2,200
Disposals (16,563)
At 31 May 2024 1,064,635
Depreciation
At 01 June 2023 11,365
Charge for year 22,625
On disposals (11,365)
At 31 May 2024 22,625
Net book value
At 31 May 2024 1,042,010
At 31 May 2023 1,067,633

AQUAFORCE GROUP LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Fixed investments

Cost of shares in subsidiary companies : At 1 June 2023 and at 31 May 2024 - £149,999 At 31 May 2024 and 31 May 2023 the company owned 100% of the issued share capital of Domus Engineering Limited and Aquaforce International Limited. Each of the above companies is registered in England. In addition the company acquired an investment in Tecla Group S.R.L, for £85,060, a company registered in Italy.

AQUAFORCE GROUP LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due within one year note

Amounts due to group undertakings £1,228,888 £1,841,565 Corporation tax £4,911 £1,428 Other taxes and social security costs £84,783 £66,306 Sundry creditors £48,108 £48,108 Directors' current account £1,483,741 £1,824,640 Accruals £5,050 £3,600

AQUAFORCE GROUP LTD.

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Related party transactions

Balances with related parties at the year end are as follows: Amounts owed to the company Aquaforce International Limited £626,739 £598,739 Cedar Properties (Worcester) Limited £1,646,624 £1,890,624 Amounts due by the company Domus Engineering Limited £1,228,868 £1,841,565 Domus Engineering Limited and Aquaforce International Limited are wholly owned subsidiary companies and Cedar Properties (Worcester) Limited is related by way of common directorships with the company. During the year under review management charges totalling £280,000 (2023: £140,000) were charged to the subsidiary and related companies for management services. Balances with related parties arise from inter company funding and are unsecured with no fixed repayment date and no interest is charged.