Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2022 | 2021 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Intangible assets | 4 | ||||||
Investments | 5 | ||||||
Current assets | |||||||
Debtors | 6 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 7 | ( |
( |
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Net current assets | |||||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Share premium | |||||||
Share option reserve | 334,762 | 163,835 | |||||
Profit and loss account | ( |
( |
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Shareholders' funds | |||||||
J D Pelczer | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Intangible fixed assets | ||||||||
Investments | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Foreign currency translation | ||||||||
Share-based payments | ||||||||
The value of share options granted to members of the company's share option scheme is recognised as an expense incurred over the applicable vesting period. The cost attributed is calculated by reference to the number of share options expected to actually vest, the fair value of each option when granted and the vesting period. The cost is recognised in the applicable financial year and credited to the share option reserve. |
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2 | Employees | 2022 | 2021 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Share-based payment arrangements | |||||||
On 29 December 2020 a Share Option scheme was created for the incentivization of an “Eligible Employee” defined as any person who is an employee or a director of the company (or its subsidiaries) or for an “Eligible Person” who provides services to the company (or its subsidiaries). The rules of the scheme provide for two types of share option, Type A and Type B. Type A Options are those that on the date they are granted qualify as an “EMI Option” for the purposes of Schedule 5 (Enterprise Management Incentives) of the Income Tax (Earnings and Pensions) Act 2003. Type B Options do not qualify as an “EMI Option”. Subject to the Option Holder ceasing to be an employee or officer of a member of the Group or ceasing to provide services to a member of the Group, in each case otherwise than as a Good Leaver as defined by the scheme rules, Options may be exercised on or after the third anniversary of the Options being granted or at an earlier date on receipt of written notice to allow an Option to be exercised at any time or during any period specified by the Board. All unexercised Options lapse on the tenth anniversary of the date on which they were granted. The exercise price for all Options is £100 per share. |
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Share options | 2022 | 2021 | ||||||
£ | £ | |||||||
At 1 January | 5,850 | 4,050 | ||||||
Granted in the year | - | 1,800 | ||||||
Lapsed during the year | - | - | ||||||
At 31 December | 5,850 | 5,850 | ||||||
Share-based payment expense | 170,927 | 163,835 | ||||||
4 | Intangible fixed assets | £ | ||||||
Research & Development expenditure | ||||||||
Cost | ||||||||
At 1 January 2022 | ||||||||
Additions | ||||||||
At 31 December 2022 | ||||||||
Amortisation | ||||||||
At 31 December 2022 | - | |||||||
Net book value | ||||||||
At 31 December 2022 | ||||||||
At 31 December 2021 | ||||||||
5 | Investments | |||||||
Investments in | ||||||||
subsidiary | ||||||||
undertakings | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 January 2022 | ||||||||
At 31 December 2022 | ||||||||
6 | Debtors | 2022 | 2021 | |||||
£ | £ | |||||||
Amounts owed by group undertakings and undertakings in which the company has a participating interest | ||||||||
Other debtors | ||||||||
7 | Creditors: amounts falling due within one year | 2022 | 2021 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Other creditors | ||||||||
8 | Contingent liabilities | |||||||
One Agua Via Ltd director has a deferred salary of £2,000 per month from December 2021 that is only payable upon the company obtaining investment funds of $500,000 at which time the balance due, £26,000 as at 31 December 2022, will become payable. | ||||||||
9 | Related party transactions | |||||||
Transactions with Subsidiaries | ||||||||
The loan is repayable in US Dollars. Following restatement at the exchange rate applicable on 31 December 2022 the balance owed by the subsidiary at 31 December 2022 was £226,007 equivalent to $273,468 (2021: £200,404 equivalent to $271,186) which is included in debtors (note 6) and is interest free. |
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During the year the company transferred funds to, and paid for services on behalf of, Agua Via ST Water Inc, a subsidiary of Agua Via (North America) Inc., amounting to US$17,572 which equated to advances of £13,559 (2021:£7,442). The loan is repayable in US Dollars. Following restatement at the exchange rate applicable on 31 December 2022 the balance owed by the subsidiary at 31 December 2022 was £417,663 equivalent to $505,311 (2021: £360,434 equivalent to $487,739) which is included in debtors (note 6) and is interest free. |
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Transactions with Directors & Shareholders | 2022 | 2021 | ||||||
£ | £ | |||||||
Loan from Director and shareholder |
66,104 | 32,974 | ||||||
(Included in Other creditors, Note 7) | ||||||||
The loan is interest free and repayable on demand. | ||||||||
The company incurred fees for accountancy and consulting services, on an arm's length basis, from a firm in which a director and shareholder of the company is a partner. Under an agreement between the company and the firm settlement of the fees was deferred on an interest free basis until such time as the company, in the opinion of the Board, has sufficient working capital. The total amount provided for in respect of services to date is £83,200 (2021: £79,450) included in Other creditors (Note 7). | ||||||||
The company has previously incurred fees for business development services, on an arm's length basis, from a company which is a shareholder and in which a director of Agua Via Limited has an interest. Under an agreement with the provider settlement of the fees was deferred on an interest free basis until such time as the company, in the opinion of the Board, has sufficient working capital. The amount provided for in respect of services provided to date is £40,000 (2021: £28,800) included in Other creditors (Note 7). | ||||||||
The company has advanced interest free loans to an entity to which four directors and shareholders of the company are related. The balance outstanding at 31 December 2022 was £60,341 equivalent of $73,000 (2021: £53,946 equivalent of $73,000) included in Other debtors (Note 6). | ||||||||
The company has agreed to reimburse Landara Ltd, a company in which a director of Agua Via Limited has an interest, for travel expenses incurred by Landara Ltd on behalf of Agua Via Limited. Under an agreement with Landara Ltd settlement of the fees was deferred on an interest free basis until such time as the company, in the opinion of the Board, has sufficient working capital. The amount provided for in respect of these expenses is £4,453 (2021: £ nil) included in Other creditors (Note 7). | ||||||||
10 | Controlling party | |||||||
11 | Other information | |||||||
Agua Via Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Paddock Cottage | ||||||||
Sandy Lane, Milford | ||||||||
Godalming | ||||||||
Surrey | ||||||||
GU8 5BL |