Aquavision Distribution Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Aquavision Distribution Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	81,021	87,554
Current assets
Stocks	5	315,227	159,973
Debtors	6	88,472	175,744
Cash at bank and in hand		58,951	1,915
		462,650	337,632
Creditors: Amounts falling due within one year	7	(510,528)	(765,196)
Net current liabilities		(47,878)	(427,564)
Total assets less current liabilities		33,143	(340,010)
Provisions for liabilities		(12,663)	(12,629)
Net assets/(liabilities)		20,480	(352,639)
Capital and reserves
Called up share capital	9	90	90
Profit and loss account		20,390	(352,729)
Shareholders' funds/(deficit)		20,480	(352,639)

Aquavision Distribution Limited

Balance Sheet

31 December 2024

For the financial year 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

......................................... Mr M B Hornung Director

Company Registration Number: 07756677

Aquavision Distribution Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8-12 Alder Hills
Poole
Dorset
BH14 4AL
England

The principal place of business is:
The Inox Building
Caldwellside
Lanark
Lanarkshire
ML11 7SR

These financial statements were authorised for issue by the Board on 29 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Summary of disclosure exemptions

The company has taken advantage of the exemptions available under FRS102 Section 1A not to disclose transactions with related parties performed under normal market conditions..

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 company’s activities. Turnover is shown net of
value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Aquavision Distribution Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	Straight line over 5 - 8 years
Fixtures and fittings	Straight line over 3 - 4 years
Motor vehicles	Straight line over 5 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average cost (AVCO) 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 stocks 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.

Aquavision Distribution Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 8).

Aquavision Distribution Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	37,514	34,475	109,173	181,162
Additions	5,492	-	2,000	7,492
At 31 December 2024	43,006	34,475	111,173	188,654
Depreciation
At 1 January 2024	8,600	12,396	72,612	93,608
Charge for the year	7,418	5,295	1,312	14,025
At 31 December 2024	16,018	17,691	73,924	107,633
Carrying amount
At 31 December 2024	26,988	16,784	37,249	81,021
At 31 December 2023	28,914	22,079	36,561	87,554

5

Stocks

	2024 £	2023 £
Raw materials and consumables	17,327	117,469
Work in progress	225	8,255
Finished goods and goods for resale	293,317	32,622
Other inventories	4,358	1,627
	315,227	159,973

6

Debtors

	2024 £	2023 £
Trade debtors	58,081	68,521
Prepayments	21,388	40,970
Other debtors	9,003	66,253
	88,472	175,744

Aquavision Distribution Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	-	34,267
Trade creditors		34,779	52,146
Amounts owed to group undertakings		315,447	562,519
Taxation and social security		2,401	-
Accruals and deferred income		114,075	16,441
Other creditors		43,826	99,823
		510,528	765,196

8	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank overdrafts	-	34,267

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	90	90	90	90

10	Parent and ultimate parent undertaking

In April 2024 100% of the share capital of the company was acquired by Lumavox Limited. The ultimate controlling party is now Suflex Limited.

 The company's immediate parent is Lumavox Ltd, incorporated in England and Wales.

 The ultimate parent is Suflex Limited, incorporated in England and Wales.