Nuwater Limited - Period Ending 2016-07-31

REGISTRATION NUMBER: 02788251

Nuwater Limited

Unaudited Abbreviated Accounts for the Year Ended 31 July 2016

Blu Sky Chartered Accountants
17 Northumberland Square
North Shields
NE30 1PX

Nuwater Limited
 

Contents of the Abbreviated Accounts
for the Year Ended 31 July 2016

Company Information	1
Abbreviated Balance Sheet	2
Notes to the Abbreviated Accounts	3

Nuwater Limited
 

Company Information
for the Year Ended 31 July 2016

Directors

Paul Younger Patrick Enda O'Connell

Registered office

17 Northumberland Square North Shields NE30 1PX

Registered Number

02788251

Accountants

Blu Sky Chartered Accountants 17 Northumberland Square North Shields NE30 1PX

Page 1

Nuwater Limited
 

(Registration number: 02788251 )
Abbreviated Balance Sheet
as at 31 July 2016

	Note	2016  £	2015  £
CURRENT ASSETS
Debtors		3,767	4,487
Cash at bank and in hand		10,753	14,057
		14,520	18,544
CREDITORS Amounts falling due within one year		(1,469)	(1,333)
Net assets		13,051	17,211
CAPITAL AND RESERVES
Called up share capital	3	95	95
Profit and loss account		12,956	17,116
Shareholders funds		13,051	17,211

For the year ending 31 July 2016 the company was entitled to exemption 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:
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 the 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.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 3 April 2017 and signed on its behalf by:

.........................................
Patrick Enda O'Connell
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Nuwater Limited
 

Notes to the Abbreviated Accounts
for the Year Ended 31 July 2016

1

Accounting policies

Going concern

The directors believe that the trade in the current year is sustainable into the foreseeable future and agree that the initial funding provided by the directors, will not be withdrawn in the near future.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
 

Asset class	Depreciation method and rate
Office equipment	33.33% straight line

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Compound instruments

Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability.

The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument.

The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.

Page 3

Nuwater Limited
 

Notes to the Abbreviated Accounts
for the Year Ended 31 July 2016

2

Fixed assets

	Tangible assets £	Total £
Cost
At 1 August 2015	605	605
At 31 July 2016	605	605
Depreciation
At 1 August 2015	605	605
At 31 July 2016	605	605
Net book value
At 31 July 2016	-	-
At 31 July 2015	-	-

3

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary Shares of £1 each	70.00	70.00	70.00	70.00
Ordinary A Shares of £1 each	25.00	25.00	25.00	25.00
	95.00	95.00	95.00	95.00

4

Related party transactions

Transactions with directors

2016	At 1 August 2015 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 July 2016 £
Paul Younger
Directors Loan Account	104	-	-	-	104
Patrick Enda O'Connell
Directors Loan Account	(4,591)	-	720	-	(3,871)

2015	At 1 August 2014 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 July 2015 £
Paul Younger
Directors Loan Account	104	-	-	-	104
Patrick Enda O'Connell
Directors Loan Account	4,594	(10,000)	814	-	(4,591)

Page 4

Nuwater Limited
 

Notes to the Abbreviated Accounts
for the Year Ended 31 July 2016

5

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 5