Aqua Leisure International Limited - Accounts to registrar (filleted) - small 18.2

Financial Statements

for the Year Ended 31 December 2018

for

Aqua Leisure International Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K A Palmer

R T G Currie

REGISTERED OFFICE:

Unit 8 & 9

Jayes Park Courtyard

Ockley

Dorking

Surrey

RH5 5RR

REGISTERED NUMBER:

03488636 (England and Wales)

ACCOUNTANTS:

Williams & Co

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

8,030

8,422

8,030

8,422

CURRENT ASSETS

Debtors

5

439,597

449,385

Cash at bank

64,035

11,896

503,632

461,281

CREDITORS

Amounts falling due within one year

6

33,877

26,932

NET CURRENT ASSETS

469,755

434,349

TOTAL ASSETS LESS CURRENT LIABILITIES

477,785

442,771

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

477,685

442,671

SHAREHOLDERS' FUNDS

477,785

442,771

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 26 September 2019 and were signed on its behalf by:

K A Palmer - Director

1.	STATUTORY INFORMATION

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

The accounts have been prepared on a going concern basis.

The Directors have prepared detailed forecasts and cashflow projections which they believe are based

upon reasonable assumptions. These forecasts show that the Company should be able to operate

within its current facilities for the foreseeable future and thus the Directors consider it appropriate to

prepare the financial on a statements going concern basis.

Turnover

Turnover reflects the contract activity during the year and reflects the fair value of the contract work

completed. The attributable profit on contracts is recognised as contracts progress. Full provision is

made for losses in the year in which the loss is first foreseen.

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

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 cost

Fixtures and fittings

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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.

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred.

Development expenditure is written off in the same year unless the directors are satisfied as to the

technical, commercial and financial viability of individual projects. In this situation, the expenditure is

deferred and amortised over the period from which the company is expected to benefit.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

3.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 January 2018

and 31 December 2018

40,879

AMORTISATION

At 1 January 2018

and 31 December 2018

40,879

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2018

and 31 December 2018

243,838

184,229

428,067

DEPRECIATION

At 1 January 2018

243,838

175,807

419,645

Charge for year

-

392

392

At 31 December 2018

243,838

176,199

420,037

NET BOOK VALUE

At 31 December 2018

-

8,030

8,030

At 31 December 2017

-

8,422

8,422

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

5,655

272

Trade debtors - retentions

96,382

96,382

Amounts owed by group undertakings

316,074

269,202

Directors' current accounts

10,421

73,338

Prepayments

11,065

10,191

439,597

449,385

The directors loan was repaid in in full March 2018

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

17,812

18,749

Social security and other taxes

332

-

VAT

8,233

683

Accrued expenses

7,500

7,500

33,877

26,932

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is OSH Development Services Limited, a company wholly owned by R

Currie and K Palmer.