10
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2020-07-01
Sage Accounts Production Advanced 2021 - FRS102_2021
27,384
2,143
29,527
22,272
2,085
24,357
5,170
5,112
xbrli:pure
xbrli:shares
iso4217:GBP
06495634
2020-07-01
2021-06-30
06495634
2021-06-30
06495634
2020-06-30
06495634
2019-07-01
2020-06-30
06495634
2020-06-30
06495634
core:PlantMachinery
2020-07-01
2021-06-30
06495634
bus:Director2
2020-07-01
2021-06-30
06495634
core:PlantMachinery
2020-06-30
06495634
core:PlantMachinery
2021-06-30
06495634
core:WithinOneYear
2021-06-30
06495634
core:WithinOneYear
2020-06-30
06495634
core:AfterOneYear
2021-06-30
06495634
core:AfterOneYear
2020-06-30
06495634
core:ShareCapital
2021-06-30
06495634
core:ShareCapital
2020-06-30
06495634
core:SharePremium
2021-06-30
06495634
core:SharePremium
2020-06-30
06495634
core:RetainedEarningsAccumulatedLosses
2021-06-30
06495634
core:RetainedEarningsAccumulatedLosses
2020-06-30
06495634
1
core:AfterOneYear
2021-06-30
06495634
1
core:AfterOneYear
2020-06-30
06495634
core:BetweenOneFiveYears
2021-06-30
06495634
core:BetweenOneFiveYears
2020-06-30
06495634
core:PlantMachinery
2020-06-30
06495634
bus:SmallEntities
2020-07-01
2021-06-30
06495634
bus:AuditExemptWithAccountantsReport
2020-07-01
2021-06-30
06495634
bus:FullAccounts
2020-07-01
2021-06-30
06495634
bus:SmallCompaniesRegimeForAccounts
2020-07-01
2021-06-30
06495634
bus:PrivateLimitedCompanyLtd
2020-07-01
2021-06-30
COMPANY REGISTRATION NUMBER:
06495634
CLEAR WATER REVIVAL LIMITED
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
CLEAR WATER REVIVAL LIMITED
|
|
Year ended 30 June 2021
Notes to the financial statements
|
3
|
|
|
CLEAR WATER REVIVAL LIMITED
|
|
30 June 2021
FIXED ASSETS
Tangible assets
|
5
|
5,170
|
5,112
|
|
|
|
|
CURRENT ASSETS
Stocks
|
8,823
|
8,823
|
Debtors
|
6
|
245,713
|
203,735
|
Cash at bank and in hand
|
402
|
35,479
|
|
---------
|
---------
|
|
254,938
|
248,037
|
|
|
|
|
CREDITORS: amounts falling due within one year
|
7
|
(
348,921)
|
(
363,821)
|
|
---------
|
---------
|
NET CURRENT LIABILITIES
|
(
93,983)
|
(
115,784)
|
|
--------
|
---------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
(
88,813)
|
(
110,672)
|
|
|
|
|
CREDITORS: amounts falling due after more than one year
|
8
|
(
166,100)
|
(
193,133)
|
|
---------
|
---------
|
NET LIABILITIES
|
(
254,913)
|
(
303,805)
|
|
---------
|
---------
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital
|
233
|
233
|
Share premium account
|
167,227
|
167,227
|
Profit and loss account
|
(
422,373)
|
(
471,265)
|
|
---------
|
---------
|
SHAREHOLDERS FUNDS
|
(
254,913)
|
(
303,805)
|
|
---------
|
---------
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
CLEAR WATER REVIVAL LIMITED
|
|
BALANCE SHEET (continued)
|
|
30 June 2021
These financial statements were approved by the
board of directors
and authorised for issue on
16 December 2021
, and are signed on behalf of the board by:
Company registration number:
06495634
CLEAR WATER REVIVAL LIMITED
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
Year ended 30 June 2021
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Studio 1, The Carriage Works, London Road, Warmley, Bristol, BS30 5NA.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts show that the company had net liabilities of £254,913 (2020 - £303,805) at the balance sheet date. The directors have therefore had to consider the appropriateness of the going concern basis. The company has continued to sell strongly and deliver projects safely during the Covid-19 crisis and the period of UK Government restrictions. Since October 2019 the company's strategy has been to reduce overheads and focus on excellence in the delivery of its core competency and has continued to be profitable since that date. The directors remain committed to financial support of the company as required and are confident that it is now well financed. The company has an excellent pipeline of products to deliver to customers. The directors are confident that the company will be able to meet its obligations for at least the next twelve months with the continuing support of creditors. They therefore consider it appropriate to prepare the accounts on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery
|
-
|
25% reducing balance
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
10
(2020:
10
).
5.
TANGIBLE ASSETS
|
Plant and machinery
|
|
£
|
Cost
|
|
At 1 July 2020
|
27,384
|
Additions
|
2,143
|
|
--------
|
At 30 June 2021
|
29,527
|
|
--------
|
Depreciation
|
|
At 1 July 2020
|
22,272
|
Charge for the year
|
2,085
|
|
--------
|
At 30 June 2021
|
24,357
|
|
--------
|
Carrying amount
|
|
At 30 June 2021
|
5,170
|
|
--------
|
At 30 June 2020
|
5,112
|
|
--------
|
|
|
6.
DEBTORS
|
2021
|
2020
|
|
£
|
£
|
Trade debtors
|
52,263
|
6,106
|
Other debtors
|
193,450
|
197,629
|
|
---------
|
---------
|
|
245,713
|
203,735
|
|
---------
|
---------
|
|
|
|
7.
CREDITORS:
amounts falling due within one year
|
2021
|
2020
|
|
£
|
£
|
Bank loans and overdrafts
|
29,889
|
1,400
|
Trade creditors
|
61,362
|
140,604
|
Social security and other taxes
|
43,618
|
77,386
|
Other creditors
|
214,052
|
144,431
|
|
---------
|
---------
|
|
348,921
|
363,821
|
|
---------
|
---------
|
|
|
|
The above includes secured creditors of £16,800 (2020 - £25,722).
8.
CREDITORS:
amounts falling due after more than one year
|
2021
|
2020
|
|
£
|
£
|
Bank loans and overdrafts
|
39,167
|
48,600
|
Shares classed as financial liabilities
|
100,000
|
100,000
|
Other creditors
|
26,933
|
44,533
|
|
---------
|
---------
|
|
166,100
|
193,133
|
|
---------
|
---------
|
|
|
|
The above includes secured creditors of £26,933 (2020 - £44,533).
9.
OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2021
|
2020
|
|
£
|
£
|
Not later than 1 year
|
10,988
|
12,454
|
Later than 1 year and not later than 5 years
|
9,060
|
20,049
|
|
--------
|
--------
|
|
20,048
|
32,503
|
|
--------
|
--------
|
|
|
|
10.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Included within debtors are balances amounting to £25 (2020 - £25) due from the directors. These balances are interest free and repayable on demand.