| REGISTERED NUMBER: |
| AQUABOND LIMITED |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| REGISTERED NUMBER: |
| AQUABOND LIMITED |
| Unaudited Financial Statements for the Year Ended 31 October 2024 |
| AQUABOND LIMITED (REGISTERED NUMBER: 04565587) |
| Contents of the Financial Statements |
| for the year ended 31 October 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 9 |
| AQUABOND LIMITED |
| Company Information |
| for the year ended 31 October 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| CUBO Birmingham |
| 4th Floor |
| Two Chamberlain Square |
| Birmingham |
| West Midlands |
| B3 3AX |
| AQUABOND LIMITED (REGISTERED NUMBER: 04565587) |
| Balance Sheet |
| 31 October 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Current assets |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 8 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 10 |
| Retained earnings |
| Shareholders' funds |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| AQUABOND LIMITED (REGISTERED NUMBER: 04565587) |
| Balance Sheet - continued |
| 31 October 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| AQUABOND LIMITED (REGISTERED NUMBER: 04565587) |
| Notes to the Financial Statements |
| for the year ended 31 October 2024 |
| 1. | Statutory information |
| Aquabond Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Property improvements | - | 10% Reducing balance |
| Plant and machinery | - | 25% Reducing balance |
| Fittings fixtures and equipment | - | 25% Reducing balance |
| Motor Vehicles | - | 25% Reducing balance |
| Office Equipment | - | 25% Reducing Balance |
| Stocks |
| 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 items. |
| Cost includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| 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 or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
| AQUABOND LIMITED (REGISTERED NUMBER: 04565587) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 2. | Accounting policies - continued |
| Research and development |
| Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is |
| capitalised as an intangible asset only when all of the following criteria are met: |
| - It is technically feasible to complete the intangible asset so that it will be available for use or sale; |
| - There is the intention to complete the intangible asset and use or sell it; |
| - There is the ability to use or sell the intangible asset; |
| - The use or sale of the intangible asset will generate probable future economic benefits; |
| - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; |
| - The expenditure attributable to the intangible asset during its development can be measured reliably. |
| Expenditure that does not meet the above criteria is expensed as incurred. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Financial instruments |
| A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. |
| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Intangible fixed assets |
| Premium |
| domain |
| £ |
| Cost |
| At 1 November 2023 |
| and 31 October 2024 |
| Amortisation |
| At 1 November 2023 |
| Amortisation for year |
| At 31 October 2024 |
| Net book value |
| At 31 October 2024 |
| At 31 October 2023 |
| AQUABOND LIMITED (REGISTERED NUMBER: 04565587) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 5. | Tangible fixed assets |
| Fixtures |
| Improvements | Plant and | and |
| to property | machinery | fittings |
| £ | £ | £ |
| Cost |
| At 1 November 2023 |
| Additions |
| Disposals |
| Reclassification/transfer | ( |
) |
| At 31 October 2024 |
| Depreciation |
| At 1 November 2023 |
| Charge for year |
| Eliminated on disposal |
| At 31 October 2024 |
| Net book value |
| At 31 October 2024 |
| At 31 October 2023 |
| Motor | Office |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 November 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Reclassification/transfer | ( |
) |
| At 31 October 2024 |
| Depreciation |
| At 1 November 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2024 |
| Net book value |
| At 31 October 2024 |
| At 31 October 2023 |
| AQUABOND LIMITED (REGISTERED NUMBER: 04565587) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 5. | Tangible fixed assets - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor | Office |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 November 2023 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 October 2024 |
| Depreciation |
| At 1 November 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 October 2024 |
| Net book value |
| At 31 October 2024 |
| At 31 October 2023 |
| 6. | Stocks |
| 2024 | 2023 |
| £ | £ |
| Raw materials |
| Work-in-progress |
| Finished goods | 213,107 | 133,939 |
| 7. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts owed by related companies | 1,192 | 5,968 |
| Other debtors |
| Called up share capital not paid |
| Prepayments |
| AQUABOND LIMITED (REGISTERED NUMBER: 04565587) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 8. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Other Loans |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 111,780 | 101,362 |
| Other creditors |
| Factoring and Invoice Discount | 818,374 | 742,873 |
| Factoring Euro Account | 57,882 | 28,986 |
| Accrued expenses |
| 9. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Hire purchase contracts |
| Accrued expenses |
| The bank loans and overdrafts provided by National Westminster Bank PLC are secured by way of a fixed and floating charge over the assets of the company together with a cross company guarantee from Waterford Chase Properties Limited and KSL Investments Limited. |
| The hire purchase contracts are secured over the assets to which they relate. |
| A fixed and floating charge over the assets of the company is held by RBS Invoice Finance Limited over the factoring account. |
| 10. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | - | 200 |
| Ordinary A | £1 | 200 | - |
| Ordinary B | £1 | 50 | - |
| 250 | 200 |
| On 15 November 2024, 200 £1 Ordinary shares were reclassified to 200 £1 Ordinary A shares, with a further 50 £1 Ordinary B shares being issued. |
| AQUABOND LIMITED (REGISTERED NUMBER: 04565587) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 11. | Related party disclosures |
| KSL Investments Limited is considered to be a related party by virtue of being the ultimate parent company. During the year, the company paid dividends to KSL Investments Limited in the sum of £230,000 (2023: £250,000). At the balance sheet date KSL Investments owed the company £170,923 (2023: £159,045). |
| Waterford Chase Properties Limited is considered to be a related party by virtue of being under common control. During the year, the company charged Waterford Chase Properties Limited management fees in the sum of £12,000 (2023: £12,000) and company rent in the sum of £60,000 (2023: £60,000). At the balance sheet date Waterford Chase Properties Limited owed the company £41,373 (2023: £24,700). |
| The White Closet Limited is considered to be a related party by virtue of having a common director. At the balance sheet date The White Closet Limited owed the company £968 (2023: £5,698). The loan is interest free, unsecured and has no specific repayment terms. |
| MFL-COM Limited is considered to be a related party by virtue of the relationship between directors in both companies. During the year, the company charged MFL-COM £323,680 (2023: £190,596) in services. At the balance sheet date MFL-COM Limited owed the company £9,509 (2023: £10,108). The loan is interest free, unsecured and has no specific repayment terms. |
| 12. | Ultimate controlling party |
| The company is ultimately controlled by KSL Investments Limited. |