Aquarate Limited Accounts






Aquarate Limited

	Company No. 10746287
		Information for Filing with The Registrar
		30 April 2022

The Directors present their report and the accounts for the year ended 30 April 2022.

Principal activities
The principal activity of the company during the year under review was other business support service activities not elsewhere classified.




Directors

The Directors who served at any time during the year were as follows:

B. Carter
R. Taylor




































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

R. Taylor
Director
28 April 2023

at	30 April 2022
Company No.		10746287	Notes	2022	2021
				£	£
Fixed assets

	Tangible assets		4	52,109	3,570


				52,109	3,570
Current assets

	Debtors		5	560,061	695,570

	Cash at bank and in hand			170,671	445,393
				730,732	1,140,963
Creditors: Amount falling due within one year			6	(99,666)	115,389
Net current assets				631,066	1,256,352
Total assets less current liabilities				683,175	1,259,922
Creditors: Amounts falling due after more than one year			7	(1,430,618)	(1,450,000)



Net liabilities				(747,443)	(190,078)

Capital and reserves
	Called up share capital			23,962	23,790
	Share premium account		8	822,853	783,200


	Profit and loss account		8	(1,594,258)	(997,068)

Total equity				(747,443)	(190,078)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 28 April 2023
And signed on its behalf by:
R. Taylor
Director
28 April 2023

for the year ended 30 April 2022

General information

Its registered number is: 10746287

Its registered office is:

11 Endmoor

Kendal

LA8 0HB

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

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

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

25% Reducing balance

Furniture, fittings and equipment

33% Straight line

Taxation

Income tax expense 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 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 reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2022	2021
			Number	Number
		The average monthly number of employees (including directors) during the year was:	2	2

4	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 May 2021	-	4,757	4,757
		Additions	56,714	5,056	61,770



		At 30 April 2022	56,714	9,813	66,527
		Depreciation
		At 1 May 2021	-	1,187	1,187
		Charge for the year	11,049	2,182	13,231



		At 30 April 2022	11,049	3,369	14,418
		Net book values
		At 30 April 2022	45,665	6,444	52,109
		At 30 April 2021	-	3,570	3,570

5	Debtors
			2022	2021
			£	£
		Trade debtors	66,000	-



		VAT recoverable	165,263	-
		Loans to directors	5,328	734
		Other debtors	311,680	4,800
		Prepayments and accrued income	11,790	690,036
			560,061	695,570

6	Creditors:
		amounts falling due within one year
			2022	2021
			£	£

		Bank loans and overdrafts	10,215	-


		Trade creditors	15,727	23,587


		Other taxes and social security	-	(138,975)

		Other creditors	222	-
		Accruals and deferred income	73,502	(1)
			99,666	(115,389)

7	Creditors:
		amounts falling due after more than one year
			2022	2021
			£	£

		Bank loans and overdrafts	30,618	50,000
		Other loans	1,400,000	1,400,000





			1,430,618	1,450,000

Reserves

Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account - includes all current and prior period retained profits and losses.