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Registered Number: 06080102
England and Wales

 

 

 


Unaudited Financial Statements


for the year ended 28 February 2025

for

AQUASAFE BUILDING SERVICES ENGINEERS LIMITED

 

 
Notes

 
2025
£

  2024
£
(as restated)
Fixed assets      
Tangible fixed assets 4 25,141    8,952 
25,141    8,952 
Current assets      
Stocks 5 75,000    40,000 
Debtors 6 220,493    192,341 
Cash at bank and in hand (3,230)   (11,917)
292,263    220,424 
Creditors: amount falling due within one year 7 (206,764)   (176,590)
Net current assets 85,499    43,834 
 
Total assets less current liabilities 110,640    52,786 
Creditors: amount falling due after more than one year 8 (83,782)   (111,887)
Provisions for liabilities 9 (6,158)   10,643 
Net assets 20,700    (48,458)
 

Capital and reserves
     
Called up share capital 10 3,076    3,076 
Profit and loss account 17,624    (51,534)
Shareholders' funds 20,700    (48,458)
 


For the year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 June 2025 and were signed on its behalf by:


-------------------------------
Thomas Williams
Director
1
General Information
Aquasafe Building Services Engineers Limited is a private company, limited by shares, registered in England and Wales, registration number 06080102, registration address Unit 3 Pyle Enterprise Centre, Village Farm Industrial Estate, Pyle, Bridgend, CF33 6BL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the companys activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
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.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 25% Straight LIne
Assets on finance lease and hire purchase
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 14 (2024 : 11).
3.

Financial Commitments, Guarantees and Contingencies

The total amount of financial commitments not included in the balance sheet is £99,351 (2024 - £118,642).

4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 March 2024 22,388    22,388 
Additions 25,842    25,842 
Disposals (2,213)   (2,213)
At 28 February 2025 46,017    46,017 
Depreciation
At 01 March 2024 13,436    13,436 
Charge for year 9,267    9,267 
On disposals (1,827)   (1,827)
At 28 February 2025 20,876    20,876 
Net book values
Closing balance as at 28 February 2025 25,141    25,141 
Opening balance as at 01 March 2024 8,952    8,952 

The net book value of assets purchased under HP agreement is £16,000 (2024 £7,125)

5.

Stocks

2025
£
  2024
£
Work in Progress 55,000    25,000 
Raw Materials 20,000    15,000 
75,000    40,000 

6.

Debtors: amounts falling due within one year

2025
£
  2024
£
Trade Debtors 128,087    65,240 
Other Debtors 92,406    127,101 
220,493    192,341 

7.

Creditors: amount falling due within one year

2025
£
  2024
£
Trade Creditors 12,527    35,360 
Bank Loans & Overdrafts 36,895    31,262 
Taxation and Social Security 142,672    98,123 
Other Creditors 14,670    11,845 
206,764    176,590 

8.

Creditors: amount falling due after more than one year

2025
£
  2024
£
Bank Loans & Overdrafts 83,782    111,887 
83,782    111,887 

9.

Provisions for liabilities

2025
£
  2024
£
Deferred Tax (10,643)   150 
Charged to Profit & Loss 16,801    (10,793)
6,158    (10,643)

10.

Share Capital

Allotted, called up and fully paid
2025
£
  2024
£
3,076 Ordinary shares of £1.00 each 3,076    3,076 
3,076    3,076 

11.

Advances and Credits



Keven Williams, Director
Interest payable at 2.25% per annum (2024 2.25%)

Thomas Williams, Director
Interest payable at 2.25% per annum (2024 2.25%)

Current year (2025)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Keven Williams, Director60,112 750 53,553 7,309 
Thomas Williams, Director32,453 10,692 850 43,995 
92565106921600535530051304
Previous year (2024)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
Written Off
£
Waived
£
Carry Forward
£
Keven Williams, Director13,865 45,424 823 60,112 
Thomas Williams, Director11,357 20,609 487 32,453 
2522266033131000092565
2