In Water Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10626012 (England and Wales)

Unaudited Financial Statements For The Year Ended 30 June 2019

for

In Water Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs N Shore

Mr P Patel

Mr R J Hornsby

REGISTERED OFFICE:

70a Silverthorne Road

London

SW8 3HE

REGISTERED NUMBER:

10626012 (England and Wales)

ACCOUNTANTS:

B B Babber & Co

Chartered Certified Accountants

First Floor Transputec House

19 Heather Park Drive

Wembley

Middlesex

HA0 1SS

FIXED ASSETS

Intangible assets

4

450,958

500,804

Tangible assets

5

65,832

61,416

Investments

6

1,000

1,000

517,790

563,220

CURRENT ASSETS

Stocks

44,900

43,000

Debtors

7

378,847

248,878

Cash at bank and in hand

41,745

21,010

465,492

312,888

CREDITORS

Amounts falling due within one year

8

1,188,213

1,086,840

NET CURRENT LIABILITIES

(722,721

)

(773,952

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(204,931

)

(210,732

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(204,934

)

(210,735

)

SHAREHOLDERS' FUNDS

(204,931

)

(210,732

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 19 March 2020 and were signed on its behalf by:

Mr P Patel - Director

1.	STATUTORY INFORMATION

In Water 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.

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.

The company's financial statements have been prepared on a going concern basis on the assumption of continued

financial support from the company's directors and bank.

Preparation of consolidated financial statements

The financial statements contain information about In Water Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of eight 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.

Improvements to property

-

15% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2018 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2018

584,272

Additions

26,500

At 30 June 2019

610,772

AMORTISATION

At 1 July 2018

83,468

Charge for year

76,346

At 30 June 2019

159,814

NET BOOK VALUE

At 30 June 2019

450,958

At 30 June 2018

500,804

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 July 2018

27,368

-

41,965

Additions

10,155

7,136

4,927

At 30 June 2019

37,523

7,136

46,892

DEPRECIATION

At 1 July 2018

4,105

-

10,072

Charge for year

5,629

1,784

9,378

At 30 June 2019

9,734

1,784

19,450

NET BOOK VALUE

At 30 June 2019

27,789

5,352

27,442

At 30 June 2018

23,263

-

31,893

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2018

5,174

3,173

77,680

Additions

-

1,432

23,650

At 30 June 2019

5,174

4,605

101,330

DEPRECIATION

At 1 July 2018

1,294

793

16,264

Charge for year

1,294

1,149

19,234

At 30 June 2019

2,588

1,942

35,498

NET BOOK VALUE

At 30 June 2019

2,586

2,663

65,832

At 30 June 2018

3,880

2,380

61,416

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 July 2018

and 30 June 2019

1,000

NET BOOK VALUE

At 30 June 2019

1,000

At 30 June 2018

1,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

347,497

191,615

Other debtors

31,350

57,263

378,847

248,878

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade creditors

208,914

128,226

Amounts owed to group undertakings

277,801

670,881

Taxation and social security

87,779

33,462

Other creditors

613,719

254,271

1,188,213

1,086,840

9.	RELATED PARTY DISCLOSURES

The directors of In Water Limited are also the directors of Neeva Jay Limited which company is a wholly owned

subsidiary undertaking of In Water Limited. Included in creditors amounts falling due within one year is an

amount due to Neeva Jay Limited of £277,801 (2018 - £670,881).

10.	BANK SECURITY

The bank has a fixed and floating charge over the company's assets or undertakings to secure the bank loans and

overdraft of its wholly owned subsidiary undertaking, Neeva Jay Limited. The total amount due by Neeva Jay

Limited to the bank at 30 June 2019 was £326,158 (2018 - £448,886).