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 2020

for

In Water Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

374,612

450,958

Tangible assets

5

61,343

65,832

Investments

6

1,000

1,000

436,955

517,790

CURRENT ASSETS

Stocks

33,450

44,900

Debtors

7

120,233

378,847

Cash at bank and in hand

162,478

41,745

316,161

465,492

CREDITORS

Amounts falling due within one year

8

852,969

1,188,213

NET CURRENT LIABILITIES

(536,808

)

(722,721

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(99,853

)

(204,931

)

CREDITORS

Amounts falling due after more than one year

9

162,257

-

NET LIABILITIES

(262,110

)

(204,931

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(262,113

)

(204,934

)

SHAREHOLDERS' FUNDS

(262,110

)

(204,931

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2021 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 are as below:

Registered number:

10626012

Registered office:

70a Silverthorne Road

London

SW8 3HE

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 24 (2019 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2019

and 30 June 2020

610,772

AMORTISATION

At 1 July 2019

159,814

Amortisation for year

76,346

At 30 June 2020

236,160

NET BOOK VALUE

At 30 June 2020

374,612

At 30 June 2019

450,958

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 July 2019

37,523

7,136

46,892

Additions

-

-

-

At 30 June 2020

37,523

7,136

46,892

DEPRECIATION

At 1 July 2019

9,734

1,784

19,450

Charge for year

5,628

1,784

9,379

At 30 June 2020

15,362

3,568

28,829

NET BOOK VALUE

At 30 June 2020

22,161

3,568

18,063

At 30 June 2019

27,789

5,352

27,442

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2019

5,174

4,605

101,330

Additions

17,345

2,315

19,660

At 30 June 2020

22,519

6,920

120,990

DEPRECIATION

At 1 July 2019

2,588

1,942

35,498

Charge for year

5,629

1,729

24,149

At 30 June 2020

8,217

3,671

59,647

NET BOOK VALUE

At 30 June 2020

14,302

3,249

61,343

At 30 June 2019

2,586

2,663

65,832

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

17,345

At 30 June 2020

17,345

DEPRECIATION

Charge for year

4,336

At 30 June 2020

4,336

NET BOOK VALUE

At 30 June 2020

13,009

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 July 2019

and 30 June 2020

1,000

NET BOOK VALUE

At 30 June 2020

1,000

At 30 June 2019

1,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

109,017

347,497

Other debtors

11,216

31,350

120,233

378,847

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Hire purchase contracts

3,354

-

Trade creditors

89,637

208,914

Amounts owed to group undertakings

153,238

277,801

Taxation and social security

64,020

87,779

Other creditors

542,720

613,719

852,969

1,188,213

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.20

30.6.19

£

£

Bank loans

150,000

-

Hire purchase contracts

12,257

-

162,257

-

10.	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 £153,238 (2019 - £277,801).