Company No: 12597109 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.12.2024		30.06.2023
		£		£
Fixed assets
Intangible assets	3	779,877		980,506
Tangible assets	4	2,523		4,150
Investments	5	3,516,448		0
		4,298,848		984,656
Current assets
Stocks	6	27,962		108,527
Debtors	7	264,217		956,946
Cash at bank and in hand		49,787		115,098
		341,966		1,180,571
Creditors: amounts falling due within one year	8	( 5,306,777)		( 1,759,827)
Net current liabilities		(4,964,811)		(579,256)
Total assets less current liabilities		(665,963)		405,400
Net (liabilities)/assets		( 665,963)		405,400
Capital and reserves
Called-up share capital	9	2,684,531		2,684,530
Profit and loss account		( 3,350,494 )		( 2,279,130 )
Total shareholders' (deficit)/funds		( 665,963)		405,400

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of eWATERservices Limited (registered number: 12597109) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R W Hygate Director

15 September 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

eWATERservices Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is The Alliston Centre, Stroud Road, Cirencester, GL7 6JR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £665,963. The company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

Reporting period length is 18 months.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	10 years straight line
Trademarks, patents and licences	10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 10 years which is their estimated useful economic life. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment	3 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within the period.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within the period or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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. Employees

	Period from 01.07.2023 to 31.12.2024		Year ended 30.06.2023
	Number		Number
Monthly average number of persons employed by the company during the period, including directors	10		11

3. Intangible assets

	Goodwill		Trademarks, patents and licences		Total
	£		£		£
Cost
At 01 July 2023	1,220,632		5,000		1,225,632
At 31 December 2024	1,220,632		5,000		1,225,632
Accumulated amortisation
At 01 July 2023	244,126		1,000		245,126
Charge for the financial period	199,879		750		200,629
At 31 December 2024	444,005		1,750		445,755
Net book value
At 31 December 2024	776,627		3,250		779,877
At 30 June 2023	976,506		4,000		980,506

4. Tangible assets

	Office equipment		Computer equipment		Total
	£		£		£
Cost
At 01 July 2023	5,603		14,749		20,352
Additions	0		549		549
At 31 December 2024	5,603		15,298		20,901
Accumulated depreciation
At 01 July 2023	4,685		11,517		16,202
Charge for the financial period	455		1,721		2,176
At 31 December 2024	5,140		13,238		18,378
Net book value
At 31 December 2024	463		2,060		2,523
At 30 June 2023	918		3,232		4,150

5. Fixed asset investments

Investments in subsidiaries

	31.12.2024
	£
Cost
At 01 July 2023	0
Additions	3,516,448
At 31 December 2024	3,516,448
Carrying value at 31 December 2024	3,516,448
Carrying value at 30 June 2023	0

6. Stocks

	31.12.2024		30.06.2023
	£		£
Stocks	27,962		108,527

7. Debtors

	31.12.2024		30.06.2023
	£		£
Trade debtors	1,122		4,294
Amounts owed by group undertakings	233,638		769,357
Prepayments and accrued income	2,419		135,935
VAT recoverable	26,462		42,099
Other debtors	576		5,261
	264,217		956,946

8. Creditors: amounts falling due within one year

	31.12.2024		30.06.2023
	£		£
Trade creditors	8,827		5,211
Accruals	0		18,800
Other taxation and social security	14,630		14,031
Other creditors	5,283,320		1,721,785
	5,306,777		1,759,827

9. Called-up share capital

	31.12.2024		30.06.2023
	£		£
Allotted, called-up and fully-paid
156,630 A Ordinary shares of £ 0.001 each	156.63		156.63
97,160 4.00% B Preference cumulative non-redeemable shares of £ 1.00 each	97,160.00		97,160.00
2,587,214 4.00% A preference cumulative non-redeemable shares of £ 1.00 each	2,587,214.00		2,587,214.00
	2,684,374.00		2,684,374.00
	2,684,530.63		2,684,530.63

10. Financial commitments

Pensions

The company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

	31.12.2024		30.06.2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	2,011		1,811

11. Related party transactions

Transactions with the entity's directors

	31.12.2024		30.06.2023
	£		£
Include in other creditors is the balance owed to directors. This balance is unsecured and interest-free with no fixed repayment terms.	875,000		875,000
Include in other creditors is the balance owed to a director. This balance is unsecured and interest is being accrued with no fixed repayment terms.	2,103,000		715,000