Wallingford Hydrosolutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05025973 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

FOR

WALLINGFORD HYDROSOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Jeans

P R Blackman

REGISTERED OFFICE:

Stables 4

Howbery Business Park

Wallingford

Oxfordshire

OX10 8BA

REGISTERED NUMBER:

05025973 (England and Wales)

FIXED ASSETS

Tangible assets

4

4,551

8,187

Investments

5

1

1

4,552

8,188

CURRENT ASSETS

Debtors

6

931,320

539,272

Cash at bank

408,572

192,392

1,339,892

731,664

CREDITORS

Amounts falling due within one year

7

352,510

168,515

NET CURRENT ASSETS

987,382

563,149

TOTAL ASSETS LESS CURRENT LIABILITIES

991,934

571,337

CREDITORS

Amounts falling due after more than one year

8

(250,000

)

-

PROVISIONS FOR LIABILITIES

(599

)

(1,273

)

NET ASSETS

741,335

570,064

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

741,235

569,964

SHAREHOLDERS' FUNDS

741,335

570,064

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2020 and were signed on its behalf by:

J A Jeans - Director

1.	STATUTORY INFORMATION

Wallingford Hydrosolutions 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 (described as turnover) is the value of goods and services provided (net of VAT) during the year.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services when the right to consideration is obtained through performance.

Amounts recoverable on contracts

Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of work done after provision for contingencies and anticipated future losses on contracts.

Tangible fixed assets

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation on tangible assets is charged to profit or loss so as to write off their value, over their estimated useful lives, as below. Assets held under finance leases are depreciated in the same manner as owned assets.

Computer equipment, plant and machinery etc - 33% on cost

At each balance sheet date, the company reviews the carrying amounts of its tangible assets to determine if any items have suffered an impairment loss. Any impairment loss is charged to profit or loss.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Short term debtors are measured at transaction price, less any impairment. Short term creditors are measured at transaction price

Taxation

Tax on profit represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from the profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the year.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities and the corresponding tax bases used to compute taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for temporary differences to the extent that it is probable that taxable profits will be available to utilise the timing difference.

Deferred tax liabilities and assets are measured at tax rates that are expected to apply in the period the liability is settled or the asset realised. The measurement of deferred tax liabilities and assets reflects the tax consequences in which the company expects to recover or settle the underlying amount of its assets and liabilities.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged to profit or loss on a straight-line basis over the lease term. The aggregate benefit of lease incentives are recognised as a reduction to the expense and credited to profit or loss on a straight line basis over the lease term.

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.

Going concern

The directors are not aware of any material uncertainties that may cast significant doubt over the ability of the company to continue trading. The preparation of the financial statements on the going concern basis is therefore deemed appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2019 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 July 2019

132,711

Additions

1,285

At 30 June 2020

133,996

DEPRECIATION

At 1 July 2019

124,524

Charge for year

4,921

At 30 June 2020

129,445

NET BOOK VALUE

At 30 June 2020

4,551

At 30 June 2019

8,187

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2019

and 30 June 2020

1

NET BOOK VALUE

At 30 June 2020

1

At 30 June 2019

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

153,795

111,039

Amounts owed by group undertakings

608,734

324,999

Amounts recoverable on contract

158,787

93,191

Other debtors

10,004

10,043

931,320

539,272

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade creditors

91,917

11,251

Taxation and social security

99,316

47,225

Other creditors

161,277

110,039

352,510

168,515

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.20

30.6.19

£

£

Bank loans

250,000

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.20

30.6.19

£

£

Within one year

5,670

5,670