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REGISTERED NUMBER: SC150410 (Scotland)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

CAMWATER LIMITED

CAMWATER LIMITED (REGISTERED NUMBER: SC150410)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


CAMWATER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr I Cowie
Mrs K Cowie





SECRETARY: Mrs K Cowie





REGISTERED OFFICE: Leithfield
Oldmeldrum
Inverurie
Aberdeenshire
AB51 0BN





REGISTERED NUMBER: SC150410 (Scotland)





ACCOUNTANTS: Bain Henry Reid
28 Broad Street
Peterhead
Aberdeenshire
AB42 1BY

CAMWATER LIMITED (REGISTERED NUMBER: SC150410)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 152,576 166,693

CURRENT ASSETS
Stocks 48,519 43,654
Debtors 5 144,828 142,240
Cash at bank and in hand 148,414 94,237
341,761 280,131
CREDITORS
Amounts falling due within one year 6 275,682 236,931
NET CURRENT ASSETS 66,079 43,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,655

209,893

CREDITORS
Amounts falling due after more than one year 7 (48,954 ) (60,727 )

PROVISIONS FOR LIABILITIES (39,600 ) (33,150 )
NET ASSETS 130,101 116,016

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9 130,099 116,014
SHAREHOLDERS' FUNDS 130,101 116,016

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

CAMWATER LIMITED (REGISTERED NUMBER: SC150410)

BALANCE SHEET - continued
31 MAY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





Mr I Cowie - Director


CAMWATER LIMITED (REGISTERED NUMBER: SC150410)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Camwater Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net invoiced sales of plumbing services and net amounts recoverable on contracts, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% straight line

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CAMWATER LIMITED (REGISTERED NUMBER: SC150410)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future, and therefore continue to adopt the going concern basis of accounting in preparing the financial statements

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 13,456 287,072 300,528
Additions - 58,455 58,455
Disposals - (83,922 ) (83,922 )
At 31 May 2024 13,456 261,605 275,061
DEPRECIATION
At 1 June 2023 11,386 122,449 133,835
Charge for year 870 39,045 39,915
Eliminated on disposal - (51,265 ) (51,265 )
At 31 May 2024 12,256 110,229 122,485
NET BOOK VALUE
At 31 May 2024 1,200 151,376 152,576
At 31 May 2023 2,070 164,623 166,693

CAMWATER LIMITED (REGISTERED NUMBER: SC150410)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 127,153
Additions 58,455
Transfer to ownership (22,797 )
At 31 May 2024 162,811
DEPRECIATION
At 1 June 2023 18,935
Charge for year 28,715
Transfer to ownership (13,677 )
At 31 May 2024 33,973
NET BOOK VALUE
At 31 May 2024 128,838
At 31 May 2023 108,218

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 135,912 118,545
Amounts recoverable on contract 8,266 23,481
Prepayments and accrued income 650 214
144,828 142,240

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 33,715 22,768
Trade creditors 170,277 190,473
Taxation 27,887 -
Social security and other taxes 7,290 6,578
VAT 16,005 11,272
Other creditors 2,208 2,540
Directors' loan accounts 15,000 -
Accruals 3,300 3,300
275,682 236,931

CAMWATER LIMITED (REGISTERED NUMBER: SC150410)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans - 1-2 years 3,099 13,333
Hire purchase contracts (see note 8) 45,855 47,394
48,954 60,727

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 33,715 22,768
Between one and five years 45,855 47,394
79,570 70,162

9. RESERVES
Retained
earnings
£   

At 1 June 2023 116,014
Profit for the year 77,085
Dividends (63,000 )
At 31 May 2024 130,099

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr I Cowie and Mrs K Cowie
Balance outstanding at start of year - -
Amounts advanced 15,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,000 -

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £63,000 were paid to the directors. (2023 £48,000)

12. ULTIMATE CONTROLLING PARTY

The directors consider Mr I Cowie to be the ultimate controlling party.