Aquatech Water Services Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Aquatech Water Services Ltd

(Registration number: 12483542)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	12,600	15,000
Tangible assets	5	134,719	125,317
		147,319	140,317
Current assets
Stocks	6	78,634	185,584
Debtors	7	111,848	109,482
Cash at bank and in hand		88,671	20,876
		279,153	315,942
Creditors: Amounts falling due within one year	8	(258,239)	(285,281)
Net current assets		20,914	30,661
Total assets less current liabilities		168,233	170,978
Creditors: Amounts falling due after more than one year	8	(33,313)	(56,948)
Provisions for liabilities		(29,724)	(31,329)
Net assets		105,196	82,701
Capital and reserves
Called up share capital		104	104
Profit and loss account		105,092	82,597
Shareholders' funds		105,196	82,701

For the financial year ending 31 March 2025 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 provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 12 December 2025 and signed on its behalf by:
 

Aquatech Water Services Ltd

(Registration number: 12483542)
Statement of Financial Position as at 31 March 2025 (continued)

Mr R M A Wood Director

Mrs J M Wood Director

Mr D A Halley Director

Miss J M Wood Director

Aquatech Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
Stanhope House
9-10 Fore Street
Holsworthy
Devon
EX22 6DT

Principal activity

The principal activity of the company is Construction of water projects

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Aquatech Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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.

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.

Tax

The tax expense for the period comprises current and deferred 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 income 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 in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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	25% reducing balance
Office equipment	25% reducing balance

Aquatech Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Motor vehicles

25% reducing balance

Impairment

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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

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 inventories 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.

Aquatech Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 11).

Aquatech Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	24,000	24,000
At 31 March 2025	24,000	24,000
Amortisation
At 1 April 2024	9,000	9,000
Amortisation charge	2,400	2,400
At 31 March 2025	11,400	11,400
Carrying amount
At 31 March 2025	12,600	12,600
At 31 March 2024	15,000	15,000

5	Tangible assets

	Land and buildings £	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	-	39,539	21,558	129,429	190,526
Additions	15,821	26,389	2,133	-	44,343
Disposals	-	-	-	(8,525)	(8,525)
At 31 March 2025	15,821	65,928	23,691	120,904	226,344
Depreciation
At 1 April 2024	-	15,629	9,947	39,633	65,209
Charge for the year	-	7,178	3,118	22,453	32,749
Eliminated on disposal	-	-	-	(6,333)	(6,333)
At 31 March 2025	-	22,807	13,065	55,753	91,625
Carrying amount
At 31 March 2025	15,821	43,121	10,626	65,151	134,719
At 31 March 2024	-	23,910	11,611	89,796	125,317

Included within the net book value of land and buildings above is £15,821 (2024 - £Nil) in respect of freehold land and buildings.
 

Aquatech Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Stocks

	2025 £	2024 £
Raw materials and consumables	37,877	37,135
Work in progress	40,757	148,449
	78,634	185,584

7

Debtors

	2025 £	2024 £
Trade debtors	96,055	96,085
Other debtors	6,490	890
Prepayments	9,303	12,507
	111,848	109,482

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	23,518	25,198
Trade creditors		81,910	94,898
Taxation and social security		50,608	27,854
Accruals and deferred income		3,350	3,680
Other creditors		98,853	133,651
		258,239	285,281

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	33,313	56,948

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Aquatech Water Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,174	15,779
Hire purchase contracts	28,139	41,169
	33,313	56,948

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,488	10,000
Hire purchase contracts	13,030	15,198
	23,518	25,198