Aquaphor UK Ltd Company accounts

COMPANY REGISTRATION NUMBER: 12158751

Aquaphor UK Ltd

Unaudited Financial Statements

For the year ended

31 December 2024

Aquaphor UK Ltd

Financial Statements

Year ended 31 December 2024

Contents	Page

Directors' report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	4

The following pages do not form part of the financial statements

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	9

Aquaphor UK Ltd

Directors' Report

Year ended 31 December 2024

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

Directors

The directors who served the company during the year were as follows:

Mr A Gromovs
Mr N Wheeler

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 27 March 2025 and signed on behalf of the board by:

Mr N Wheeler

Director

Registered office:

Unit 3

Paddock Road Industrial Estate

Reading

Berkshire

RG45BY

Aquaphor UK Ltd

Statement of Income and Retained Earnings

Year ended 31 December 2024

	2024	2023
Note	£	£
Turnover	2,956,564	1,969,072

Cost of sales	2,475,042	1,607,646
	-------------	-------------
Gross profit	481,522	361,426

Administrative expenses	1,534,438	871,485
	-------------	----------
Operating loss	( 1,052,916)	( 510,059)

Other interest receivable and similar income		–	1,737
Interest payable and similar expenses		4,120	4,670
		-------------	----------
Loss before taxation	5	( 1,057,036)	( 512,992)

Tax on loss	–	–
	-------------	----------
Loss for the financial year and total comprehensive income	( 1,057,036)	( 512,992)
	-------------	----------

Retained losses at the start of the year	( 1,376,911)	( 863,919)
	-------------	-------------
Retained losses at the end of the year	( 2,433,947)	( 1,376,911)
	-------------	-------------

All the activities of the company are from continuing operations.

Aquaphor UK Ltd

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	6	7,548	4,227

Current assets

Stocks		1,129,396	454,531
Debtors	7	422,066	302,129
Cash at bank and in hand		55,706	48,754
		-------------	----------
		1,607,168	805,414

Creditors: amounts falling due within one year	8	3,938,663	2,046,552
		-------------	-------------
Net current liabilities		2,331,495	1,241,138
		-------------	-------------
Total assets less current liabilities		( 2,323,947)	( 1,236,911)

Creditors: amounts falling due after more than one year	9	90,000	120,000
		-------------	-------------
Net liabilities		( 2,413,947)	( 1,356,911)
		-------------	-------------

Capital and reserves

Called up share capital	20,000	20,000
Profit and loss account	( 2,433,947)	( 1,376,911)
	-------------	-------------
Shareholders deficit	( 2,413,947)	( 1,356,911)
	-------------	-------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:

Mr N Wheeler

Director

Company registration number: 12158751

Aquaphor UK Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3, Paddock Road Industrial Estate, Reading, Berkshire, RG45BY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company has net current liabilities, which necessitates the directors to consider whether the financial statements should be prepared on a going concern basis. However, confirmation has been received from the parent company that financial support will continue to be provided by the group as and when required, consistent with previous years. In addition £3,802,937 of the creditor balance relates to intercompany balances which are not on strict commercial terms. The directors therefore do not consider there to be any material uncertainty regarding the company's ability to continue as a going concern. Accordingly, the directors have adopted the going concern basis for the preparation of these financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% reducing balance
Equipment	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2023: 5 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2024	2023
	£	£
Depreciation of tangible assets	1,325	917
	-------	----

6. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2024	3,779	3,538	7,317
Additions	–	4,646	4,646
	-------	-------	---------
At 31 December 2024	3,779	8,184	11,963
	-------	-------	---------
Depreciation
At 1 January 2024	1,609	1,481	3,090
Charge for the year	314	1,011	1,325
	-------	-------	---------
At 31 December 2024	1,923	2,492	4,415
	-------	-------	---------
Carrying amount
At 31 December 2024	1,856	5,692	7,548
	-------	-------	---------
At 31 December 2023	2,170	2,057	4,227
	-------	-------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	416,774	297,555
Other debtors	5,292	4,574
	----------	----------
	422,066	302,129
	----------	----------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	3,858,266	1,961,894
Social security and other taxes	57,606	57,716
Other creditors	22,791	26,942
	-------------	-------------
	3,938,663	2,046,552
	-------------	-------------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	90,000	120,000
	---------	----------

Aquaphor UK Ltd

Management Information

Year ended 31 December 2024

The following pages do not form part of the financial statements.

Aquaphor UK Ltd

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Aquaphor UK Ltd

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aquaphor UK Ltd for the year ended 31 December 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Aquaphor UK Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Aquaphor UK Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aquaphor UK Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Aquaphor UK Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Aquaphor UK Ltd. You consider that Aquaphor UK Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Aquaphor UK Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

STREETS LLP Chartered accountants

Tower House Lucy Tower Street Lincoln Lincolnshire LN1 1XW

27 March 2025