AQUIFER LIMITED
AQUIFER LIMITED
AQUIFER LIMITED
Company Registration Number:
05039222 (England and Wales)
Unaudited statutory accounts for the year ended 29 December 2020
Period of accounts
Start date: 1 January 2020
End date: 29 December 2020
AQUIFER LIMITED
Contents of the Financial Statements
for the Period Ended 29 December 2020
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
AQUIFER LIMITED
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 29 December 2020
Principal activities of the company
Company policy on disabled employees
Directors
The director shown below has held office during the whole of the period from
1 January 2020 to 29 December 2020
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
AQUIFER LIMITED
Profit And Loss Account
for the Period Ended
2020 | 2019 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | | |
Gross profit(or loss): | | |
Administrative expenses: | ( | ( |
Operating profit(or loss): | ( | ( |
Profit(or loss) before tax: | ( | ( |
Profit(or loss) for the financial year: | ( | ( |
AQUIFER LIMITED
Balance sheet
As at
Notes | 2020 | 2019 | |
---|---|---|---|
| £ | £ | |
Fixed assets | |||
Investments: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Debtors: | 4 | | |
Cash at bank and in hand: | | ||
Total current assets: | | | |
Creditors: amounts falling due within one year: | 5 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Total net assets (liabilities): | | | |
Capital and reserves | |||
Called up share capital: | | | |
Profit and loss account: | ( | ( | |
Total Shareholders' funds: | | |
The notes form part of these financial statements
AQUIFER LIMITED
Balance sheet statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
AQUIFER LIMITED
Notes to the Financial Statements
for the Period Ended 29 December 2020
-
1. Accounting policies
Basis of measurement and preparation
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102 Turnover policy
Turnover comprises sales of goods and services after deduction of discounts and sales taxes. Turnover is recognised when the risks and rewards of the underlying products and services have been substantially transferred to the customer. Revenue from services is recognised as the services are performed. Interest revenue is recognised on a receivable basis Other accounting policies
Fixed Asset Investments Investments, all of which are unquoted investments in subsidiary undertakings, are stated at cost less provision for any impairment, if necessary.Cash and Cash EquivalentsCash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than twenty hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts and other loans that are repayable on demand and form an integral part of the Company’s cash management.Debtors Trade and other debtors are amounts due for services performed in the ordinary course of business. If collection is expected in one period or less, they are classified as current assets. If not, they are presented as noncurrent assets. Trade and other debtors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment.CreditorsCreditors are obligations to pay for goods or services that have been acquired in the ordinary course of the business from suppliers.Creditors are recognised initially at fair value and subsequently measured at amortised cost using the effective interest methodForeign CurrenciesFunctional and presentation currencyItems included in the financial statements are measured using the currency of the primary economic environment in which each entity operates, its functional currency. The financial statements are presented in UK Sterling. The functional currencies of the subsidiaries and the holding Company are Mozambique Meticais and UK Sterling, respectively.Transactions and balancesForeign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and nonmonetary items measured at fair value are measured using the exchange rate when fair value was determined.Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account.TranslationThe trading results of the Company’s undertakings are translated into sterling at the average exchange rates for the period. The assets and liabilities of overseas undertakings, including goodwill and fair value adjustments arising on acquisition, are translated at the exchange rates ruling at the period end. Exchange adjustments arising from the retranslation of opening net investments and from the translation of the profits or losses at average rates are recognised in Other comprehensive income.Exceptional ItemsThe Company classifies certain once off charges or credits that have a material impact on the Company’s financial results as exceptional items. These are disclosed separately to provide further understanding of the financial performance of the Company.Provisions and ContingenciesProvisions are recognised where an event has taken place that gives the Company a present legal or constructive obligation as a result of past events. They probably require settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Profit and Loss Account in the period that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance Sheet.Contingent liabilities are not recognised, except those acquired in a business combination. Contingent liabilities arise as a result of past events when it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or when the existence will be confirmed by the occurrence or non occurrence of uncertain future events not wholly within the Company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.Employee benefitsWhen employees have rendered services to the Company, short term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
AQUIFER LIMITED
Notes to the Financial Statements
for the Period Ended 29 December 2020
-
2. Employees
2020 2019 Average number of employees during the period 0 0
AQUIFER LIMITED
Notes to the Financial Statements
for the Period Ended 29 December 2020
3. Fixed assets investments note
The investment represent a one hundred percent shareholding in the issued share capital of Mozfoods SA which owned the following subsidiaries at the period endCompanhia do Vanduzi SA one hundred percent of the issued ordinary share capital. Vanduzi Fresh Import and Export (PTY) Limited (VFIE) one hundred percent owned by Vanduzi.Vanduzi is incorporated in Mozambique and VFIE is incorporated in South Africa. The principal activities of the subsidiaries entail agro industrial business activities. The Company also has the following subsidiaries incorporated in Mozambique- Mocfer Industrias Alimentares SA (MIA) and Jose Carvalho e Filhos Agro-Pecuaria Limitada. These subsidiary companies have not actively traded and their results are insignificant to the Company.
AQUIFER LIMITED
Notes to the Financial Statements
for the Period Ended 29 December 2020
4. Debtors
2020 | 2019 | |
---|---|---|
£ | £ | |
Other debtors | | |
Total | | |
AQUIFER LIMITED
Notes to the Financial Statements
for the Period Ended 29 December 2020
5. Creditors: amounts falling due within one year note
2020 | 2019 | |
---|---|---|
£ | £ | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |