REGISTERED NUMBER: 02952913 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2024

FOR

AQUA CARS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R R Leng

B M Leng

SECRETARY:

B M Leng

REGISTERED OFFICE:

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

REGISTERED NUMBER:

02952913 (England and Wales)

ACCOUNTANTS:

Compass Accountants Limited

Chartered Accountants

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

BANKERS:

Natwest Bank PLC

130 Commercial Road

Portsmouth

Hampshire

PO1 1EJ

FIXED ASSETS

Intangible assets

4

-

408,005

Tangible assets

5

366,563

447,324

Investments

6

940,000

880,000

1,306,563

1,735,329

CURRENT ASSETS

Debtors

7

6,938,902

2,161,888

Cash at bank and in hand

7,679,284

864,022

14,618,186

3,025,910

CREDITORS

Amounts falling due within one year

8

1,837,108

854,841

NET CURRENT ASSETS

12,781,078

2,171,069

TOTAL ASSETS LESS CURRENT LIABILITIES

14,087,641

3,906,398

CREDITORS

Amounts falling due after more than one year

9

1,064,722

1,799,902

NET ASSETS

13,022,919

2,106,496

CAPITAL AND RESERVES

Called up share capital

10

450

450

Retained earnings

13,022,469

2,106,046

SHAREHOLDERS' FUNDS

13,022,919

2,106,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th October 2025 and were signed on its behalf by:

R R Leng - Director

1.	STATUTORY INFORMATION

Aqua Cars Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliable measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

1% on cost

Long leasehold

-

over period of lease

Plant and office equipment

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Basic financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 1A to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where 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.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 42 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st August 2023

927,733

Additions

660,502

Disposals

(1,588,235

)

At 31st July 2024

-

AMORTISATION

At 1st August 2023

519,728

Charge for year

60,945

Eliminated on disposal

(580,673

)

At 31st July 2024

-

NET BOOK VALUE

At 31st July 2024

-

At 31st July 2023

408,005

5.	TANGIBLE FIXED ASSETS

Improvements

Plant and

Freehold

Long

to

office

property

leasehold

property

equipment

£

£

£

£

COST

At 1st August 2023

297,635

6,686

143,855

801,230

Additions

-

-

-

-

Disposals

-

-

-

(801,230

)

At 31st July 2024

297,635

6,686

143,855

-

DEPRECIATION

At 1st August 2023

65,480

6,686

5,567

764,178

Charge for year

2,976

-

1,439

9,264

Eliminated on disposal

-

-

-

(773,442

)

At 31st July 2024

68,456

6,686

7,006

-

NET BOOK VALUE

At 31st July 2024

229,179

-

136,849

-

At 31st July 2023

232,155

-

138,288

37,052

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st August 2023

164,029

78,523

468,301

1,960,259

Additions

-

-

3,028

3,028

Disposals

(164,029

)

-

(471,329

)

(1,436,588

)

At 31st July 2024

-

78,523

-

526,699

DEPRECIATION

At 1st August 2023

138,520

77,809

454,695

1,512,935

Charge for year

3,826

179

8,125

25,809

Eliminated on disposal

(142,346

)

-

(462,820

)

(1,378,608

)

At 31st July 2024

-

77,988

-

160,136

NET BOOK VALUE

At 31st July 2024

-

535

-

366,563

At 31st July 2023

25,509

714

13,606

447,324

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st August 2023

880,000

Additions

60,000

At 31st July 2024

940,000

NET BOOK VALUE

At 31st July 2024

940,000

At 31st July 2023

880,000

7.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

1,331,999

940,611

Other debtors

5,380,371

75,268

6,712,370

1,015,879

Amounts falling due after more than one year:

Amounts owed by associates

226,532

1,146,009

Aggregate amounts

6,938,902

2,161,888

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,442

50,422

Taxation and social security

1,270,780

306,204

Other creditors

564,886

498,215

1,837,108

854,841

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to associates

1,064,722

1,799,902

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10

Ordinary B

£1

10

10

400

Ordinary A

£1

400

400

20

Ordinary C

£1

20

20

20

Ordinary D

£1

20

20

450

450