H2O Associates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05694560 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

H2O ASSOCIATES LTD

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Tangible assets

4

1,341

1,099

Current assets

Debtors

5

5,416

8,008

Cash at bank

42,069

13,952

47,485

21,960

Creditors

Amounts falling due within one year

6

21,688

20,969

Net current assets

25,797

991

Total assets less current liabilities

27,138

2,090

Provisions for liabilities

7

255

220

Net assets

26,883

1,870

Capital and reserves

Called up share capital

8

2

2

Retained earnings

26,881

1,868

Shareholders' funds

26,883

1,870

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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors on 16 December 2018 and were signed on its behalf by:

Mr A Derbyshire - Director

1.	Statutory information

H2O Associates Limited is a private company, limited by shares, registered in England and Wales. The company's registered

number is 05694560. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 26

South Western Crescent, Whitecliff, Poole, Dorset, BH14 8RR.

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.

Turnover

Turnover represents amounts receivable, excluding value added tax, in respect of goods and services provided in the

ordinary course of business. Turnover is recognised when the goods or service has been provided to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or

past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of

current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing

differences are differences between taxable profits and total comprehensive income as stated in the financial statements

that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are

recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible

fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the

contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract

that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any

losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 2 (2017 - 4 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

Cost

At 1 April 2017

-

5,575

4,444

10,019

Additions

710

-

-

710

At 31 March 2018

710

5,575

4,444

10,729

Depreciation

At 1 April 2017

-

5,323

3,597

8,920

Charge for year

178

63

227

468

At 31 March 2018

178

5,386

3,824

9,388

Net book value

At 31 March 2018

532

189

620

1,341

At 31 March 2017

-

252

847

1,099

5.

Debtors: amounts falling due within one year

2018

2017

£

£

Trade debtors

5,416

7,100

Directors' current accounts

-

908

5,416

8,008

6.

Creditors: amounts falling due within one year

2018

2017

£

£

Tax

14,732

17,880

VAT

4,350

988

Directors' current accounts

385

-

Accruals and deferred income

2,221

2,101

21,688

20,969

7.	Provisions for liabilities

2018

2017

£

£

Deferred tax

255

220

Deferred

tax

£

Balance at 1 April 2017

220

Charge to Statement of comprehensive income during year

35

Balance at 31 March 2018

255

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1.00

2

2

9.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2018 and 31 March 2017:

2018

2017

£

£

Mrs J Derbyshire and Mr A Derbyshire

Balance outstanding at start of year

907

5,930

Amounts advanced

89,561

133,003

Amounts repaid

(90,853

)

(138,026

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(385

)

907

At the year end the company owed the directors, Mr A Derbyshire and Mrs J Derbyshire, £385 (2017: £907 owed to the

company by the directors). The £907 owed by the directors at the previous year end was fully repaid within 9 months.

10.	Ultimate controlling party

The directors Mr and Mrs Derbyshire control the company, jointly owning 100% of the issued share capital.