Aquatrac (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02753302 (England and Wales)

AQUATRAC (UK) LIMITED

Unaudited Financial Statements

For The Year Ended 31 March 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J H G Witham

Miss A C Jackson

SECRETARY:

J H G Witham

REGISTERED OFFICE:

1 - 5 Nelson Street

Southend on Sea

Essex

SS1 1EG

REGISTERED NUMBER:

02753302 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

36,463

14,758

36,463

14,758

CURRENT ASSETS

Stocks

99,405

90,180

Debtors

6

43,148

53,045

Cash at bank and in hand

18,881

11,272

161,434

154,497

CREDITORS

Amounts falling due within one year

7

84,203

97,360

NET CURRENT ASSETS

77,231

57,137

TOTAL ASSETS LESS CURRENT LIABILITIES

113,694

71,895

CREDITORS

Amounts falling due after more than one year

8

13,226

-

NET ASSETS

100,468

71,895

CAPITAL AND RESERVES

Called up share capital

110

100

Retained earnings

100,358

71,795

SHAREHOLDERS' FUNDS

100,468

71,895

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22 November 2018 and were signed on its behalf by:

J H G Witham - Director

1.	STATUTORY INFORMATION

Aquatrac (UK) Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In the opinion of the directors, it remains appropriate to continue to adopt the going concern basis of accounting.

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 1994, is being amortised evenly over its estimated useful life of twenty 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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Patents

Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost on a

straight line basis over the estimated useful economic life (12 years).

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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 2 ).

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2017

and 31 March 2018

5,000

37,000

42,000

AMORTISATION

At 1 April 2017

and 31 March 2018

5,000

37,000

42,000

NET BOOK VALUE

At 31 March 2018

-

-

-

At 31 March 2017

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2017

20,067

59,013

79,080

Additions

-

30,200

30,200

At 31 March 2018

20,067

89,213

109,280

DEPRECIATION

At 1 April 2017

14,585

49,737

64,322

Charge for year

822

7,673

8,495

At 31 March 2018

15,407

57,410

72,817

NET BOOK VALUE

At 31 March 2018

4,660

31,803

36,463

At 31 March 2017

5,482

9,276

14,758

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

Motor

vehicles

£

COST

Additions

30,200

At 31 March 2018

30,200

NET BOOK VALUE

At 31 March 2018

30,200

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

27,227

38,390

Other debtors

15,921

14,655

43,148

53,045

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

8,891

-

Hire purchase contracts

9,763

-

Trade creditors

36,289

52,344

Taxation and social security

3,200

18,956

Other creditors

26,060

26,060

84,203

97,360

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

13,226

-

9.	ULTIMATE CONTROLLING PARTY

During the previous and current financial periods, the company's ultimate controlling party was sole

director/shareholder J. Witham.