PH_WATER_TECHNOLOGIES_LIM - Accounts

PH WATER TECHNOLOGIES LIMITED - Company Information

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Company Registration No. 05042025 (England and Wales)

PH WATER TECHNOLOGIES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

PH WATER TECHNOLOGIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

PH WATER TECHNOLOGIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

91,854

112,383

Current assets

Stocks

238,708

280,374

Debtors

994,161

1,039,063

Cash at bank and in hand

92,614

175,921

1,325,483

1,495,358

Creditors: amounts falling due within one year

(775,779)

(969,277)

Net current assets

549,704

526,081

Total assets less current liabilities

641,558

638,464

Creditors: amounts falling due after more than one year

(29,737)

Provisions for liabilities

(8,177)

(9,985)

633,381

598,742

Capital and reserves

Called up share capital

10,000

Profit and loss account

623,381

588,742

Shareholders' funds

633,381

598,742

PH WATER TECHNOLOGIES LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2014

- 2 -

For the financial year ended 31 December 2014 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 24 September 2015

P Millham

Director

Company Registration No. 05042025

PH WATER TECHNOLOGIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% straight line

Computer equipment

33.33% straight line

Fixtures, fittings & equipment

25% straight line

Motor vehicles

20% straight line

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each year.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value. Stock includes an element of long term work in progress, where the net sales value has been applied for, but is pending certification.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

PH WATER TECHNOLOGIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 4 -

Fixed assets

Tangible assets

Cost

At 1 January 2014

225,822

Additions

22,916

Disposals

(18,875)

At 31 December 2014

229,863

Depreciation

At 1 January 2014

113,439

On disposals

(18,875)

Charge for the year

43,445

At 31 December 2014

138,009

Net book value

At 31 December 2014

91,854

At 31 December 2013

112,383

Debtors

Debtors include an amount of £95,041 (2013 - £94,697) which is due after more than one year.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £135,489 (2013 - £287,898). This includes the hire purchase amounts are secured on the assets concerned and the bank loans are secured on the trade debts of the company.

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £0 (2013 - £29,737).

The hire purchase amounts are secured on the assets concerned.

PH WATER TECHNOLOGIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 5 -

Share capital

2014

2013

Allotted, called up and fully paid

5,000 Ordinary shares of £1 each

5,000

5,000 Ordinary non voting shares of £1 each

5,000

10,000

Related party relationships and transactions

Loans to directors

The following transactions with directors took place during the year:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

I Hay - Loan account

41,543

P Millham - Loan account

38,974

80,517

The maximum overdrawn balances for I Hay and P Milllham were as at the respective year ends. No interest is charged on these loans.