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REGISTERED NUMBER: 03905566 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 December 2024

for

Aquadistri UK Limited

Aquadistri UK Limited (Registered number: 03905566)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Statement of Financial Position 8

Statement of Changes in Equity 9

Statement of Cash Flows 10

Notes to the Financial Statements 11


Aquadistri UK Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: M Van De Pol
J A J W Kleijssen





SECRETARY: M Van De Pol





REGISTERED OFFICE: Highbury Fields
Eltisley Road
Great Gransden
Sandy
Cambridgeshire
SG19 3AR





REGISTERED NUMBER: 03905566 (England and Wales)





AUDITORS: JTF
Chartered Certified Accountants and
Statutory Auditors
Electra House
1A Gilberd Road
Colchester
Essex
CO2 7LR

Aquadistri UK Limited (Registered number: 03905566)

Strategic Report
for the Year Ended 31 December 2024


The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
The year ended 31 December 2024 was a good year in respect of sales and result. Although that our sales slightly decreased the gross margin was better. The result after taxation was significantly better. In 2024 the whole aquarium and pond market increased slightly. The target for 2024 was to improve the gross Margin and we succeeded. The stock level was still too high to our opinion, we are working on that. The cost of staff will also rise in 2025. The consumer confidence in the whole economy is not at a much higher level. The war in the Ukraine, a new president in the USA, high inflation and high interest rates influence the customers to be careful with their money.

Although the trading conditions for the whole aquarium and pond industry are not at the level we want, the board is very positive for the year 2025. We still have to be careful but we are taking steps to increase sales and to improve margins and lower the operational costs. We expect no serious problems in respect of our financial position and more specific our cashflow. We are always in the position to lend money from our parent company.

PRINCIPAL RISKS AND UNCERTAINTIES
As with most trading companies, particularly when there are underlying difficult economic conditions, the company faces the risks of reduced demand for its products, either due to a decrease in the market as a whole, or increased competition.

As the company is heavily dependent on importing the goods it sells, there is also the risk that movements in exchange rates can result in the company's products becoming more expensive and therefore less competitive.

The company's directors assess and monitor the risks to the company and take appropriate steps to mitigate them, wherever possible.

FUTURE DEVELOPMENTS
Our expectations for 2025 are positive, our sales are now on a higher level, for 2025 we expect to grow in sales with approx. 7-8%. Furthermore we expect an increase of operational costs, mainly staff and transportation costs. We expect no problems in respect of our financial position and more specific our cashflow. In 2025 Aquadistri UK Ltd started well sales are up (with approx. 14%) in the first two months.

ON BEHALF OF THE BOARD:





M Van De Pol - Secretary


31 March 2025

Aquadistri UK Limited (Registered number: 03905566)

Report of the Directors
for the Year Ended 31 December 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the sale of aquarium and pond products.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS
M Van De Pol has held office during the whole of the period from 1 January 2024 to the date of this report.

Other changes in directors holding office are as follows:

J A J W Kleijssen was appointed as a director after 31 December 2024 but prior to the date of this report.

R J Van Den Enden ceased to be a director after 31 December 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:



M Van De Pol - Secretary


31 March 2025

Report of the Independent Auditors to the Members of
Aquadistri UK Limited


Opinion
We have audited the financial statements of Aquadistri UK Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Aquadistri UK Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Aquadistri UK Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul John True Frost (Senior Statutory Auditor)
for and on behalf of JTF
Chartered Certified Accountants and
Statutory Auditors
Electra House
1A Gilberd Road
Colchester
Essex
CO2 7LR

31 March 2025

Aquadistri UK Limited (Registered number: 03905566)

Statement of Comprehensive Income
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   

TURNOVER 5,244,852 5,413,702

Cost of sales 3,612,127 3,911,727
GROSS PROFIT 1,632,725 1,501,975

Distribution costs 270,272 324,417
Administrative expenses 1,306,685 1,223,300
1,576,957 1,547,717
55,768 (45,742 )

Other operating income 47,466 37,199
OPERATING PROFIT/(LOSS) 4 103,234 (8,543 )

Interest receivable and similar income 937 -
104,171 (8,543 )

Interest payable and similar expenses 5 10,232 12,567
PROFIT/(LOSS) BEFORE TAXATION 93,939 (21,110 )

Tax on profit/(loss) 6 21,146 (4,737 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

72,793

(16,373

)

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

72,793

(16,373

)

Aquadistri UK Limited (Registered number: 03905566)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 116,621 134,236

CURRENT ASSETS
Stocks 8 1,159,489 1,001,949
Debtors 9 852,878 1,317,793
Cash at bank 192,089 34,702
2,204,456 2,354,444
CREDITORS
Amounts falling due within one year 10 1,266,396 1,357,178
NET CURRENT ASSETS 938,060 997,266
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,054,681

1,131,502

CREDITORS
Amounts falling due after more than one
year

11

(224,622

)

(370,694

)

PROVISIONS FOR LIABILITIES 15 (23,756 ) (27,298 )
NET ASSETS 806,303 733,510

CAPITAL AND RESERVES
Called up share capital 16 100 100
Retained earnings 17 806,203 733,410
SHAREHOLDERS' FUNDS 806,303 733,510

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by:




M Van De Pol - Director



J A J W Kleijssen - Director


Aquadistri UK Limited (Registered number: 03905566)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 100 749,783 749,883

Changes in equity
Total comprehensive income - (16,373 ) (16,373 )
Balance at 31 December 2023 100 733,410 733,510

Changes in equity
Total comprehensive income - 72,793 72,793
Balance at 31 December 2024 100 806,203 806,303

Aquadistri UK Limited (Registered number: 03905566)

Statement of Cash Flows
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 21 460,472 280,746
Interest paid (7,986 ) (12,567 )
Tax paid (1,154 ) (7,886 )
Net cash from operating activities 451,332 260,293

Cash flows from investing activities
Purchase of tangible fixed assets (12,648 ) (5,217 )
Interest received 937 -
Net cash from investing activities (11,711 ) (5,217 )

Cash flows from financing activities
Amount introduced by group companies 141,007 -
Amount repaid to group companies (5,328 ) (336,641 )
Net cash from financing activities 135,679 (336,641 )

Increase/(decrease) in cash and cash equivalents 575,300 (81,565 )
Cash and cash equivalents at beginning of
year

22

(478,923

)

(397,358

)

Cash and cash equivalents at end of year 22 96,377 (478,923 )

Aquadistri UK Limited (Registered number: 03905566)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Aquadistri UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% - 20% on cost
Plant and machinery - 10% - 20% on cost
Fixtures and fittings - 10% - 20% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Aquadistri UK Limited (Registered number: 03905566)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 501,381 456,854
Social security costs 39,124 32,086
Other pension costs 9,461 9,139
549,966 498,079

The average number of employees during the year was as follows:
31.12.24 31.12.23

Directors 2 2
Sales 1 2
Administration 3 2
Distribution 12 11
18 17

31.12.24 31.12.23
£    £   
Directors' remuneration 61,228 60,015
Directors' pension contributions to money purchase schemes 1,321 1,321

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging/(crediting):

31.12.24 31.12.23
£    £   
Hire of plant and machinery 78,103 78,750
Other operating leases 119,202 136,071
Depreciation - owned assets 29,473 31,820
Loss on disposal of fixed assets 790 -
Auditors' remuneration 10,500 10,000
Taxation compliance services 3,575 1,840
Other non- audit services 3,470 2,076
Foreign exchange differences (47,466 ) (36,887 )

Aquadistri UK Limited (Registered number: 03905566)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
£    £   
Interest on loan from group company 5,797 10,882
Other interest payable 4,435 1,685
10,232 12,567

6. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 27,691 1,046
Prior year (3,003 ) -
Total current tax 24,688 1,046

Deferred tax (3,542 ) (5,783 )
Tax on profit/(loss) 21,146 (4,737 )

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24 31.12.23
£    £   
Profit/(loss) before tax 93,939 (21,110 )
Profit/(loss) multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

23,485

(4,011

)

Effects of:
Expenses not deductible for tax purposes 664 734
Adjustments to tax charge in respect of previous periods (3,003 ) -
Profits taxed at 25% - 251
Marginal relief - (154 )
deferred tax provision
Movement in deferred tax calculated at 25% - (1,557 )
Total tax charge/(credit) 21,146 (4,737 )

Aquadistri UK Limited (Registered number: 03905566)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


7. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 173,707 185,561 82,442 8,733 450,443
Additions 4,113 2,880 1,799 3,856 12,648
Disposals (8,214 ) (155,798 ) (8,535 ) (2,002 ) (174,549 )
At 31 December 2024 169,606 32,643 75,706 10,587 288,542
DEPRECIATION
At 1 January 2024 70,391 177,599 61,164 7,053 316,207
Charge for year 15,399 3,299 9,590 1,185 29,473
Eliminated on disposal (164,012 ) - (7,745 ) (2,002 ) (173,759 )
At 31 December 2024 (78,222 ) 180,898 63,009 6,236 171,921
NET BOOK VALUE
At 31 December 2024 247,828 (148,255 ) 12,697 4,351 116,621
At 31 December 2023 103,316 7,962 21,278 1,680 134,236

8. STOCKS
31.12.24 31.12.23
£    £   
Stocks 1,159,489 1,001,949

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 774,799 1,108,470
Amounts owed by group undertakings - 141,007
Other debtors 5,750 7,650
Prepayments and accrued income 72,329 60,666
852,878 1,317,793

Aquadistri UK Limited (Registered number: 03905566)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts (see note 12) 95,712 513,625
Trade creditors 723,635 569,520
Amounts owed to group undertakings 144,493 3,750
Tax 27,691 4,157
Social security and other taxes 8,879 8,592
VAT 216,681 226,770
Other creditors 1,707 1,794
Accruals and deferred income 47,598 28,970
1,266,396 1,357,178

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Other loans (see note 12) 224,622 224,622
Amounts owed to group undertakings - 146,072
224,622 370,694

12. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 95,712 513,625

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans 224,622 224,622

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 149,464 138,735
Between one and five years 189,467 272,469
338,931 411,204

Aquadistri UK Limited (Registered number: 03905566)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


14. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank overdrafts 95,712 513,625
Loan from group undertakings 139,450 146,072
235,162 659,697

The bank overdraft is secured on the trade debtors of the company.

The amount due to group undertakings in the sum of £139,450 (2023: £146,072) is secured on the fixed assets together with a second charge on the trade debtors of the company.

15. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 23,756 27,298

Deferred
tax
£   
Balance at 1 January 2024 27,298
Provided during year (3,542 )
Balance at 31 December 2024 23,756

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 Ordinary £1 100 100

17. RESERVES
Retained
earnings
£   

At 1 January 2024 733,410
Profit for the year 72,793
At 31 December 2024 806,203

18. ULTIMATE PARENT COMPANY

Aquatic Wholesale Group Holding B.V. (incorporated in The Netherlands ) is regarded by the directors as being the company's ultimate parent company.

Aquadistri UK Limited (Registered number: 03905566)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


19. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
31.12.24 31.12.23
£    £   
Management and accountancy services charged to Aquadistri UK Limited 64,080 63,600
Interest charged to Aquadistri UK Limited 5,797 8,132
Amount due to related party 144,493 146,072

Included within the above balance due to the related party is a loan in the sum of £139,450 (2023: £146,072). Interest is charged at the rate of 7.55% per annum and the loan is repayable by 31 December 2025. Partial or full repayment may be made in advance of this date but there are no set instalments. The above loan is secured on the company's fixed assets and trade debtors.

Key management personnel of the entity or its parent (in the aggregate)
31.12.24 31.12.23
£    £   
Interest charged by related party 2,246 -
Amount due to related party 224,622 224,622

The above balance due to the related party represents a loan from a company in which a director has a controlling interest. Interest is charged at the rate of 1.00% per annum and the loan is repayable by 31 December 2032. Partial or full repayment may be made in advance of this date but there are no set instalments. The above loan is secured on the company's stock.

Other related parties
31.12.24 31.12.23
£    £   
Purchases 1,903,685 2,061,489
Marketing services 112,140 111,300
Interest charged to Aquadistri UK Limited - 2,750
Amount due from related party - 201,913
Amount due to related party 268,999 527,610

20. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, there is no ultimate controlling party (2023: Mr R J Van Den Enden).

Aquadistri UK Limited (Registered number: 03905566)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


21. RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.12.24 31.12.23
£    £   
Profit/(loss) before taxation 93,939 (21,110 )
Depreciation charges 29,472 31,820
Loss on disposal of fixed assets 790 -
Finance costs 10,232 12,567
Finance income (937 ) -
133,496 23,277
(Increase)/decrease in stocks (157,540 ) 983,638
Decrease/(increase) in trade and other debtors 323,908 (294,758 )
Increase/(decrease) in trade and other creditors 160,608 (431,411 )
Cash generated from operations 460,472 280,746

22. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 192,089 34,702
Bank overdrafts (95,712 ) (513,625 )
96,377 (478,923 )
Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 34,702 45,679
Bank overdrafts (513,625 ) (443,037 )
(478,923 ) (397,358 )


Aquadistri UK Limited (Registered number: 03905566)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


23. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank and in hand 34,702 157,387 192,089
Bank overdrafts (513,625 ) 417,913 (95,712 )
(478,923 ) 575,300 96,377
Debt
Debts falling due after 1 year (224,622 ) - (224,622 )
(224,622 ) - (224,622 )
Total (703,545 ) 575,300 (128,245 )