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SPRINGWATER DIRECT LTD.

Registered Number
SC169064
(Scotland)

Unaudited Financial Statements for the Year ended
31 October 2023

SPRINGWATER DIRECT LTD.
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

Gordon David Laing Ross

Registered Address

9 Wallace Street
Cowdenbeath
KY4 9JR

Registered Number

SC169064 (Scotland)
SPRINGWATER DIRECT LTD.
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets318,40813,678
18,40813,678
Current assets
Stocks26,94221,935
Debtors48,4858,373
Cash at bank and on hand7,6231,521
43,05031,829
Creditors amounts falling due within one year5(34,762)(31,550)
Net current assets (liabilities)8,288279
Total assets less current liabilities26,69613,957
Creditors amounts falling due after one year6(9,170)(9,000)
Provisions for liabilities(3,498)(2,599)
Net assets14,0282,358
Capital and reserves
Called up share capital22
Profit and loss account14,0262,356
Shareholders' funds14,0282,358
The financial statements were approved and authorised for issue by the Director on 4 April 2024, and are signed on its behalf by:
Gordon David Laing Ross
Director
Registered Company No. SC169064
SPRINGWATER DIRECT LTD.
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles20
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 November 22-21,0111,14496123,116
Additions7,950---7,950
At 31 October 237,95021,0111,14496131,066
Depreciation and impairment
At 01 November 22-8,0249934219,438
Charge for year4572,597311353,220
At 31 October 2345710,6211,02455612,658
Net book value
At 31 October 237,49310,39012040518,408
At 31 October 22-12,98715154013,678
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables8,4858,373
Total8,4858,373
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables6,8882,327
Taxation and social security1,6232,321
Finance lease and HP contracts3,9872,428
Other creditors22,26423,424
Accrued liabilities and deferred income-1,050
Total34,76231,550
6.Creditors: amounts due after one year

2023

2022

££
Other creditors9,1709,000
Total9,1709,000