Land and Water Group Limited Filleted accounts for Companies House (small and micro)

LAND AND WATER GROUP LIMITED - Company Information

26 28 September 2023 false false false false false false false false false true false false false false true false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 500 500 500 xbrli:pure xbrli:shares iso4217:GBP 04437231 2022-01-01 2022-12-31 04437231 2022-12-31 04437231 2021-12-31 04437231 2021-01-01 2021-12-31 04437231 2021-12-31 04437231 core:LandBuildings 2021-12-31 04437231 core:MotorVehicles 2021-12-31 04437231 core:LandBuildings 2022-12-31 04437231 core:MotorVehicles 2022-12-31 04437231 core:LandBuildings 2022-01-01 2022-12-31 04437231 core:MotorVehicles 2022-01-01 2022-12-31 04437231 core:WithinOneYear 2022-12-31 04437231 core:WithinOneYear 2021-12-31 04437231 core:AfterOneYear 2022-12-31 04437231 core:ShareCapital 2022-12-31 04437231 core:ShareCapital 2021-12-31 04437231 core:RetainedEarningsAccumulatedLosses 2022-12-31 04437231 core:RetainedEarningsAccumulatedLosses 2021-12-31 04437231 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 04437231 core:Non-currentFinancialInstruments 2022-12-31 04437231 core:Non-currentFinancialInstruments 2021-12-31 04437231 core:LandBuildings 2021-12-31 04437231 core:MotorVehicles 2021-12-31 04437231 bus:Director2 2022-01-01 2022-12-31 04437231 bus:Director3 2022-01-01 2022-12-31 04437231 bus:SmallEntities 2022-01-01 2022-12-31 04437231 bus:Audited 2022-01-01 2022-12-31 04437231 bus:FullAccounts 2022-01-01 2022-12-31 04437231 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 04437231 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 04437231 core:LandBuildings core:ShortLeaseholdAssets 2022-01-01 2022-12-31 04437231 core:ComputerEquipment 2021-12-31 04437231 core:ComputerEquipment 2022-01-01 2022-12-31 04437231 core:ComputerEquipment 2022-12-31

COMPANY REGISTRATION NUMBER: 04437231

LAND AND WATER GROUP LIMITED

FILLETED FINANCIAL STATEMENTS

31 December 2022

LAND AND WATER GROUP LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

Contents	Pages

Statement of financial position	1

Notes to the financial statements	2 to 6

LAND AND WATER GROUP LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5	281,300	266,192
Investments	6	500	500
		---------	---------
		281,800	266,692

Current assets

Debtors	7	732,653		625,609

Creditors: amounts falling due within one year	8	958,786		871,896
		---------		---------
Net current liabilities			226,133	246,287
			---------	---------
Total assets less current liabilities			55,667	20,405

Creditors: amounts falling due after more than one year	9		34,139	–

Provisions

Taxation including deferred tax	12,428	10,619
	--------	--------
Net assets	9,100	9,786
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	9,000	9,686
	-------	-------
Shareholders funds	9,100	9,786
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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

These financial statements were approved by the board of directors and authorised for issue on 28 September 2023 , and are signed on behalf of the board by:

Mr R E Melhuish Mr J A Maclean

Director Director

Company registration number: 04437231

LAND AND WATER GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Numeric House, 98 Station Road, Sidcup, Kent, DA15 7BY, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through the statement of comprehensive income. The financial statements are prepared in sterling, which is the functional currency of the entity.

Debtors

Debtors are initially recorded at fair value and are assessed for impairment at each year end date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.

Creditors

Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.

Statement of cash flows

The company has taken advantage of the small companies exemptions and not prepared a statement of cash flows.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue recognition

Revenue refers to amounts earned from the Company's principal activity; the provision of Management and Administration services to all of its group members. The revenue shown in the statement of comprehensive income represents amounts invoiced during the year, exclusive of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Tangible assets with a cost value in excess of £500 are capitalised, all items below this limit are expensed through the statement of comprehensive income.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property Improvements	-	10 Years & 5 Years Straight Line
Motor Vehicles	-	4 Years Straight Line
Equipment	-	5 Years Straight Line

The residual value of all tangible assets is deemed to be £Nil.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in the statement of comprehensive income.

Investments in subsidiaries

Investments in subsidiaries accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in subsidiaries accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in the statement of comprehensive income. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in the statement of comprehensive income in the period in which it arises.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 26 (2021: 27 ).

5. Tangible assets

	Land and buildings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2022	97,843	44,530	267,809	410,182
Additions	–	52,500	40,380	92,880
	--------	--------	---------	---------
At 31 December 2022	97,843	97,030	308,189	503,062
	--------	--------	---------	---------
Depreciation
At 1 January 2022	41,041	1,533	101,416	143,990
Charge for the year	9,833	8,425	59,514	77,772
	--------	--------	---------	---------
At 31 December 2022	50,874	9,958	160,930	221,762
	--------	--------	---------	---------
Carrying amount
At 31 December 2022	46,969	87,072	147,259	281,300
	--------	--------	---------	---------
At 31 December 2021	56,802	42,997	166,393	266,192
	--------	--------	---------	---------

6. Investments

	Shares in participating interests
	£
Cost
At 1 January 2022 and 31 December 2022	500
	----
Impairment
At 1 January 2022 and 31 December 2022	–
	----

Carrying amount
At 31 December 2022	500
	----
At 31 December 2021	500
	----

The company has a participating interest and exercises significant influence in Sudstainability Limited and holds 50% of the Ordinary Shares.

7. Debtors

	2022	2021
	£	£
Trade debtors	1,175	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	377,022	305,981
Other debtors	354,456	319,628
	---------	---------
	732,653	625,609
	---------	---------

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	791,890	697,239
Trade creditors	80,391	99,866
Amounts owed to group undertakings and undertakings in which the company has a participating interest	5,503	16,640
Social security and other taxes	51,556	45,470
Other creditors	29,446	12,681
	---------	---------
	958,786	871,896
	---------	---------

The company has entered into a composite accounting agreement with Natwest Bank Plc between Land & Water Services Limited, Land & Water Plant Limited, Land & Water Remediation Limited, Land & Water Estates Limited, M.H.J. Limited & Land and Water Group Limited. Under the terms of this agreement the bank is authorised in certain circumstances to seize bank account balances and apply them in reduction of liabilities including overdrawn bank accounts of the other group companies in the agreement. The total potential liability under the composite agreement at the year end is £1,389,139. During the year the company entered into a debenture with Natwest Bank Plc, all assets of the company are held as security as part of the agreement.

9. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Other creditors	34,139	–
	--------	----

10. Summary audit opinion

The auditor's report for the year dated 28 September 2023 was unqualified .

The senior statutory auditor was Philip Benson Woodman FCCA , for and on behalf of Opass Billings Wilson & Honey LLP .

11. Ultimate parent company

The company's ultimate parent undertaking is M.H.J. Limited. It has included the company in its consolidated financial statements, copies of which are available from its registered office: Numeric House, 98 Station Road, Sidcup, Kent, DA15 7BY.