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

REGISTERED NUMBER: 05766170 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

SAS Water Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs E M Ward

REGISTERED OFFICE:

Unit 3 East Street

Leek

Staffordshire

ST13 6LF

REGISTERED NUMBER:

05766170 (England and Wales)

FIXED ASSETS

Intangible assets

4

33,750

40,500

Tangible assets

5

47,617

56,902

81,367

97,402

CURRENT ASSETS

Stocks

5,781

24,072

Debtors

6

470,146

456,126

Cash at bank

275,164

151,832

751,091

632,030

CREDITORS

Amounts falling due within one year

7

152,744

155,187

NET CURRENT ASSETS

598,347

476,843

TOTAL ASSETS LESS CURRENT LIABILITIES

679,714

574,245

PROVISIONS FOR LIABILITIES

9,100

10,800

NET ASSETS

670,614

563,445

CAPITAL AND RESERVES

Called up share capital

135

135

Retained earnings

670,479

563,310

SHAREHOLDERS' FUNDS

670,614

563,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 December 2021 and were signed by:

Mrs E M Ward - Director

1.	STATUTORY INFORMATION

SAS 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 financial statements have been prepared under the historical cost convention and are presented in Pounds Sterling (£) being the functional currency.

The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern, which the director considers appropriate having regard to the company's current and expected performance.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract and when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Usually, turnover from the sale of services is recognised over the period of instruction.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

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

-

33% on cost, 25% on reducing balance and 20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks

Stocks are stated at the lower of cost and net realisable value (estimated selling price less costs to complete and sell). Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

Basic financial assets and liabilities are initially measured at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

135,000

AMORTISATION

At 1 April 2020

94,500

Charge for year

6,750

At 31 March 2021

101,250

NET BOOK VALUE

At 31 March 2021

33,750

At 31 March 2020

40,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2020

27,620

3,443

106,530

5,135

142,728

Additions

6,773

-

-

3,370

10,143

At 31 March 2021

34,393

3,443

106,530

8,505

152,871

DEPRECIATION

At 1 April 2020

20,581

2,066

61,530

1,649

85,826

Charge for year

5,788

689

11,250

1,701

19,428

At 31 March 2021

26,369

2,755

72,780

3,350

105,254

NET BOOK VALUE

At 31 March 2021

8,024

688

33,750

5,155

47,617

At 31 March 2020

7,039

1,377

45,000

3,486

56,902

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

151,760

140,166

Other debtors

318,386

315,960

470,146

456,126

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

17,000

21,378

Taxation and social security

129,149

123,587

Other creditors

6,595

10,222

152,744

155,187

8.	LEASING AGREEMENTS

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

2021

2020

£

£

Within one year

13,791

13,791

Between one and five years

22,695

36,487

36,486

50,278

Total lease payments recognised as an expense during the period amounted to £13,876 (2020 - £12,943).

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

Mrs E M Ward

Balance outstanding at start of year

62,101

92,594

Amounts advanced

45,076

95,674

Amounts repaid

(62,101

)

(126,167

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

45,076

62,101

The advance is unsecured, repayable on demand and interest is charged at a rate of 2.25% per annum where the balance exceeds £10,000.

10.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions of £509 (2020 - £10) were payable to the fund at the balance sheet date and are included in other creditors.