Aqualution Systems Ltd - Accounts to registrar (filleted) - small 23.2.5
Aqualution Systems Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2023 |
| for |
| Aqualution Systems Ltd |
| Aqualution Systems Ltd (Registered number: 04100816) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2023 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Aqualution Systems Ltd |
| Company Information |
| for the Year Ended 31 August 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 47-49 The Square |
| Kelso |
| Roxburghshire |
| TD5 7HW |
| Aqualution Systems Ltd (Registered number: 04100816) |
| Statement of Financial Position |
| 31 August 2023 |
| 31/8/23 | 31/8/22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Property, plant and equipment | 5 |
| CURRENT ASSETS |
| Inventories |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Revaluation reserve |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| Aqualution Systems Ltd (Registered number: 04100816) |
| Statement of Financial Position - continued |
| 31 August 2023 |
| 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 |
| Aqualution Systems Ltd (Registered number: 04100816) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2023 |
| 1. | STATUTORY INFORMATION |
| Aqualution Systems Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The Company meets its day to day working capital requirements by way of financing by the Directors. The Directors are confident the Company has sufficient funding facilities in place to be able to meet its liabilities as and when they fall due. The accounts have therefore been prepared on a going concern basis. |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year. |
| Intangible fixed assets |
| BPDRD |
| BPD Regulator Dossier is classified as an intangible asset on the balance sheet and is being amortised evenly over its estimated useful life of ten years. The value of the BPDRD is reviewed for impairment at the end of each financial year and will be written down as necessary should circumstances indicate the carrying value may not be recoverable. |
| Website and domain names |
| Website and domain names are being amortised evenly over their estimated useful life of ten years. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Aqualution Systems Ltd (Registered number: 04100816) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
| 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 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. |
| Hire purchase and leasing commitments |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Aqualution Systems Ltd (Registered number: 04100816) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 September 2022 |
| Additions |
| At 31 August 2023 |
| AMORTISATION |
| At 1 September 2022 |
| Charge for year |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| At 31 August 2022 |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2022 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 August 2023 |
| DEPRECIATION |
| At 1 September 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| At 31 August 2022 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/23 | 31/8/22 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts owed by associates |
| Other debtors |
| Aqualution Systems Ltd (Registered number: 04100816) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/8/23 | 31/8/22 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/8/23 | 31/8/22 |
| £ | £ |
| Other creditors |
| Included within Other Creditors due after more than one year of £890,166 (2022 - £905,346) represents amounts outstanding in respect of debt owed to Mr A Hill, Mr R W Joyce, and Mr N Meakin. |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31/8/23 | 31/8/22 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31/8/23 | 31/8/22 |
| £ | £ |
| Other loans |
| Scottish Enterprise holds a floating charge over all the property and undertakings of the company, dated 8 May 2019. |