| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2024 |
| for |
| Simple Water Solutions Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2024 |
| for |
| Simple Water Solutions Limited |
| Simple Water Solutions Limited (Registered number: 03324411) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Simple Water Solutions Limited |
| Company Information |
| for the Year Ended 31 March 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Simple Water Solutions Limited (Registered number: 03324411) |
| Balance Sheet |
| 31 March 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| Simple Water Solutions Limited (Registered number: 03324411) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2024 |
| 1. | STATUTORY INFORMATION |
| Simple Water Solutions Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade |
| discounts. The policies adopted for the recognition of turnover are as follows: |
| Sale of goods |
| Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. |
| Rendering of services |
| Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. |
| IP recharges |
| Group IP recharges are recognised within cost of sales and are charged based on product sales, where the product incorporates the parent company's IP. These are reviewed and calculated annually by management. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
| Short leasehold - 10% on cost |
| Plant and machinery etc - 10 - 25% on cost |
| Stocks |
| Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first in, first out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| Simple Water Solutions Limited (Registered number: 03324411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
| current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
| statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
| exceptions. Timing differences are differences between taxable profits and total comprehensive income as |
| stated in the financial statements that arise from the inclusion of income and expense in tax assessments in |
| periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. |
| Research and development |
| Research expenditure is written off against profits in the year in which it is incurred. Identifiable development |
| expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be |
| demonstrated. Provision is made for any impairment. |
| Group recharge costs relating to R & D projects are recognised in administrative expenses once the cost of the good or service has been consumed. |
| Leases |
| Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
| Financial instruments |
| Financial instruments are recognised initially at transaction price excluding transaction costs and |
| subsequently at amortised cost. These include cash at bank, trade and other debtors, trade and other creditors. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Intercompany loans |
| Intercompany loans are repayable on demand. No interest is charged on amounts outstanding. |
| Finance costs |
| Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that 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. |
| Going concern |
| At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Simple Water Solutions Limited (Registered number: 03324411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2023 |
| Additions |
| At 31 March 2024 |
| DEPRECIATION |
| At 1 April 2023 |
| Charge for year |
| At 31 March 2024 |
| NET BOOK VALUE |
| At 31 March 2024 |
| At 31 March 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 8. | RELATED PARTY DISCLOSURES |
| Included within other creditors is a balance of £11,168 (2023: £11,740) owed to the company's director. No interest was charged on the loan. |