| WATER PROJECTS LTD |
| Registered number: |
03851066 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
30,000 |
|
|
30,000 |
| Tangible assets |
4 |
|
|
21,664 |
|
|
18,665 |
|
|
|
|
51,664 |
|
|
48,665 |
|
| Current assets |
| Debtors |
5 |
|
38,755 |
|
|
25,070 |
| Cash at bank and in hand |
|
|
101,686 |
|
|
109,090 |
|
|
|
140,441 |
|
|
134,160 |
|
| Creditors: amounts falling due within one year |
6 |
|
(175,651) |
|
|
(166,314) |
|
| Net current liabilities |
|
|
|
(35,210) |
|
|
(32,154) |
|
| Total assets less current liabilities |
|
|
|
16,454 |
|
|
16,511 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(1,396) |
|
|
(4,512) |
|
|
| Net assets |
|
|
|
15,058 |
|
|
11,999 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
14,958 |
|
|
11,899 |
|
| Shareholder's funds |
|
|
|
15,058 |
|
|
11,999 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr R K Hammond |
| Director |
| Approved by the board on 18 September 2025 |
|
| WATER PROJECTS LTD |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration receivable, net of value added taxes. Turnover includes revenue earned from the rendering of services. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: |
|
|
|
Computer software and website costs |
25% per annum reducing balance basis |
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
|
|
|
Pensions |
|
The company did not operate a pension scheme during the year. |
|
|
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 January 2024 |
30,000 |
|
At 31 December 2024 |
30,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 31 December 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
30,000 |
|
At 31 December 2023 |
30,000 |
|
|
|
|
|
|
|
|
|
|
Due to it's value exceeding the cost, goodwill is not being amortised. |
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Computer software & website costs |
| £ |
|
Cost |
|
At 1 January 2024 |
89,957 |
|
Additions |
10,220 |
|
At 31 December 2024 |
100,177 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
71,292 |
|
Charge for the year |
7,221 |
|
At 31 December 2024 |
78,513 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
21,664 |
|
At 31 December 2023 |
18,665 |
|
|
|
| 5 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade debtors and prepayments |
38,755 |
|
25,070 |
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans and overdrafts |
3,041 |
|
2,967 |
|
Trade creditors and accruals |
128,133 |
|
108,794 |
|
Other taxes and social security costs |
12,851 |
|
15,577 |
|
Other creditors - director's loan account |
31,626 |
|
38,976 |
|
|
|
|
|
|
175,651 |
|
166,314 |
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Bank loans |
1,396 |
|
4,512 |
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Events after the reporting date |
|
There were no events after the reporting date which would affect the user's understanding of these accounts. |
|
|
|
| 9 |
Contingent liabilities |
|
There were no contingent liabilities in existence at the year end. |
|
|
|
| 10 |
Controlling party |
|
The director, Mr R K Hammond, owns 100% of the issue ordinary share capital of the company. |
|
|
|
| 11 |
Other information |
|
|
WATER PROJECTS LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
24 Oswald Road |
|
Chorlton Cum Hardy |
|
Manchester |
|
M21 9LP |