The Pure H2O Company Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02461213 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

THE PURE H2O COMPANY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Wiltshire

REGISTERED OFFICE:

Unit B1F

Fairoaks Airport

Chobham

Surrey

GU24 8HU

REGISTERED NUMBER:

02461213 (England and Wales)

ACCOUNTANTS:

L E Marshall & Co

Chartered Accountants

Unit B1F

Fairoaks Airport

Chobham

Surrey

GU24 8HU

FIXED ASSETS

Tangible assets

4

81,901

88,145

CURRENT ASSETS

Stocks

117,996

524,996

Debtors

5

513,921

513,603

Cash at bank

-

379

631,917

1,038,978

CREDITORS

Amounts falling due within one year

6

392,786

685,171

NET CURRENT ASSETS

239,131

353,807

TOTAL ASSETS LESS CURRENT LIABILITIES

321,032

441,952

CREDITORS

Amounts falling due after more than one year

7

(87,828

)

(194,880

)

PROVISIONS FOR LIABILITIES

(13,298

)

(13,797

)

NET ASSETS

219,906

233,275

CAPITAL AND RESERVES

Called up share capital

119,000

19,000

Retained earnings

100,906

214,275

SHAREHOLDERS' FUNDS

219,906

233,275

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

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 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 June 2020 and were signed by:

R Wiltshire - Director

1.	STATUTORY INFORMATION

The Pure H2O Company Ltd 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.

Turnover

Turnover represents invoiced sales, net of value added tax. Sales are recognised when an installation or service

is completed or in the period to which rental equipment is made available.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Research and development

All development costs are written off to the profit and loss account in the year of expenditure.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2018

120,529

73,645

129,761

7,314

331,249

Additions

609

8,279

15,054

2,183

26,125

Disposals

-

-

(21,229

)

(1,453

)

(22,682

)

At 30 September 2019

121,138

81,924

123,586

8,044

334,692

DEPRECIATION

At 1 October 2018

105,956

61,997

71,246

3,905

243,104

Charge for year

2,277

2,989

16,383

2,682

24,331

Eliminated on disposal

-

-

(13,191

)

(1,453

)

(14,644

)

At 30 September 2019

108,233

64,986

74,438

5,134

252,791

NET BOOK VALUE

At 30 September 2019

12,905

16,938

49,148

2,910

81,901

At 30 September 2018

14,573

11,648

58,515

3,409

88,145

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

365,419

222,811

Amounts owed by associates

-

239,779

Other debtors

148,502

51,013

513,921

513,603

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans and overdrafts

34,165

113,259

Hire purchase contracts

24,159

28,178

Trade creditors

186,229

100,073

Taxation and social security

46,260

101,919

Other creditors

101,973

341,742

392,786

685,171

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Hire purchase contracts

25,328

35,899

Other creditors

62,500

158,981

87,828

194,880

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.19

30.9.18

£

£

Bank overdrafts

34,165

113,259

All bank overdrafts due to Barclays Bank Plc are secured by a fixed and floating charge over the assets of the

company.

The director, R Wiltshire, has given a personal guarantee to Barclays Bank Plc totalling £250,000.

9.	RELATED PARTY DISCLOSURES

The loan amounting to £239,778 at the 2018 balance sheet date made to Pure H2O GWT Ltd, a company in

which Mr R Wiltshire is a director and shareholder. This was a start up loan so that the company may undertake

research and development activities to develop related technology that will be marketed. It has been established

that the loan will not be able to be repaid. It has, therefore, been written off in these account.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is R Wiltshire.

11.	SALE OF INTELLECTUAL PROPERTY

During the year the company has been subject to acts of commercial sabotage including erroneous and

defamatory information being sent to the company's customers.

The majority shareholders and members of their family decided on the back of this disruption to provide finance

to purchase the intellectual property of the company thereby reducing the balance sheet liabilities by £526,250.

The new owners of the intellectual property agreed that the company would be the authorised UK distributor.