In Water Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10626012 (England and Wales)

Unaudited Financial Statements For The Year Ended 30 June 2023

for

In Water Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

145,572

221,919

Tangible assets

5

17,562

32,845

Investments

6

1,000

1,000

164,134

255,764

CURRENT ASSETS

Stocks

29,101

26,217

Debtors

7

273,036

235,064

Cash at bank and in hand

21,853

81,198

323,990

342,479

CREDITORS

Amounts falling due within one year

8

584,078

689,243

NET CURRENT LIABILITIES

(260,088

)

(346,764

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(95,954

)

(91,000

)

CREDITORS

Amounts falling due after more than one year

9

63,510

90,000

NET LIABILITIES

(159,464

)

(181,000

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(159,467

)

(181,003

)

SHAREHOLDERS' FUNDS

(159,464

)

(181,000

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 14 March 2024 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 16 (2022 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2022

and 30 June 2023

610,772

AMORTISATION

At 1 July 2022

388,853

Amortisation for year

76,347

At 30 June 2023

465,200

NET BOOK VALUE

At 30 June 2023

145,572

At 30 June 2022

221,919

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 July 2022

37,523

6,735

49,264

Additions

-

-

-

At 30 June 2023

37,523

6,735

49,264

DEPRECIATION

At 1 July 2022

26,619

6,727

46,681

Charge for year

5,629

3

1,455

At 30 June 2023

32,248

6,730

48,136

NET BOOK VALUE

At 30 June 2023

5,275

5

1,128

At 30 June 2022

10,904

8

2,583

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2022

34,845

9,090

137,457

Additions

-

2,174

2,174

At 30 June 2023

34,845

11,264

139,631

DEPRECIATION

At 1 July 2022

17,388

7,197

104,612

Charge for year

8,710

1,660

17,457

At 30 June 2023

26,098

8,857

122,069

NET BOOK VALUE

At 30 June 2023

8,747

2,407

17,562

At 30 June 2022

17,457

1,893

32,845

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

Motor

vehicles

£

COST

At 1 July 2022

and 30 June 2023

17,345

DEPRECIATION

At 1 July 2022

13,009

Charge for year

4,335

At 30 June 2023

17,344

NET BOOK VALUE

At 30 June 2023

1

At 30 June 2022

4,336

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 July 2022

and 30 June 2023

1,000

NET BOOK VALUE

At 30 June 2023

1,000

At 30 June 2022

1,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade debtors

216,777

206,644

Amounts owed by group undertakings

15,650

-

Other debtors

40,609

28,420

273,036

235,064

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Bank loans and overdrafts

30,000

30,000

Hire purchase contracts

1,667

8,347

Trade creditors

98,070

133,762

Amounts owed to group undertakings

-

108,898

Taxation and social security

185,875

112,124

Other creditors

268,466

296,112

584,078

689,243

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.23

30.6.22

£

£

Bank loans

60,000

90,000

Hire purchase contracts

3,510

-

63,510

90,000

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 debtors is an amount due from Neeva Jay Limited of £15,650 (2022 - £nil) and included in creditors amounts falling due within one year is an amount due to Neeva Jay Limited of £nil (2022 - £108,898).