REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
Cheddar Water Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
Cheddar Water Limited |
Cheddar Water Limited (Registered number: 05212658) |
Contents of the Financial Statements |
for the Year Ended 31 August 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Cheddar Water Limited |
Company Information |
for the Year Ended 31 August 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Suite 1 |
Liberty House |
South Liberty Lane |
Bristol |
BS3 2ST |
Cheddar Water Limited (Registered number: 05212658) |
Statement of Financial Position |
31 August 2024 |
31.8.24 | 31.8.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Inventories | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
Cheddar Water Limited (Registered number: 05212658) |
Statement of Financial Position - continued |
31 August 2024 |
31.8.24 | 31.8.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 | ( |
) |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
Cheddar Water Limited (Registered number: 05212658) |
Notes to the Financial Statements |
for the Year Ended 31 August 2024 |
1. | STATUTORY INFORMATION |
Cheddar Water Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the amounts receivable, excluding VAT and trade discounts, by the company for goods and services provided during the year. All transactions arose in the United Kingdom. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Stocks |
Inventories are valued at the lower of cost and net realisable value, 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 statement of financial position date. |
Cheddar Water Limited (Registered number: 05212658) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
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. |
Government grants |
Government grants in respect of fixed assets are recorded as deferred income and released to the profit and loss account over ten years from the date of purchase of the asset. |
Going concern |
The accounts have been prepared on a going concern basis, despite the fact that liabilities exceed assets. The director has given an undertaking to support the company until it returns to a net assets position. He considers that it is appropriate to prepare the accounts on the going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Cheddar Water Limited (Registered number: 05212658) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2023 |
and 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 September 2023 |
and 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
5. | INVENTORIES |
31.8.24 | 31.8.23 |
£ | £ |
Stocks |
Cheddar Water Limited (Registered number: 05212658) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.24 | 31.8.23 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.24 | 31.8.23 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Hire purchase contracts |
Trade creditors |
Social security and other taxes |
VAT | 36,354 | 5,713 |
Pension creditor | 56 | 39 |
Directors' current accounts | 213,319 | 212,715 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.24 | 31.8.23 |
£ | £ |
Bank loans (see note 9) |
Hire purchase contracts |
Directors' loan accounts | 270,000 | 270,000 |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 2,034 |
Cheddar Water Limited (Registered number: 05212658) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.8.24 | 31.8.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 2,034 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.8.24 | 31.8.23 |
£ | £ |
Bank overdraft |
Bank loans |
The bank overdraft and loans are secured by a debenture over the assets of the company. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.8.24 | 31.8.23 |
value: | £ | £ |
Ordinary | £1 | 80,100 | 80,100 |
Cheddar Water Limited (Registered number: 05212658) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 September 2023 | ( |
) |
Profit for the year |
At 31 August 2024 |
13. | OTHER FINANCIAL COMMITMENTS |
2024 | 2023 |
Operating lease payments due: |
in less than one year: | 18,564 | 18,564 |
between 2 - 5 years | 33,250 | 51,814 |
over 5 years | - | - |
51,814 | 70,378 |
Cheddar Water Limited (Registered number: 05212658) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year the company entered into the following transactions with the directors: |
D L Urch |
Director |
2024 | 2023 |
Capital Introduced | 28,000 | 36,369 |
Water rates paid for premises | 9,900 | 9,900 |
Capital withdrawn | 28,460 | 17,950 |
At the year end the amount due to the director was £236,188 (2023- £236,648). |
Ms T S Urch |
Director |
2024 | 2023 |
Capital introduced | 702 | 4,247 |
Capital withdrawn | 2,637 | 873 |
At the year end the amount due to the director was £14,897 (2023 - £16,832). |
Mrs V Urch |
Director |
2024 | 2023 |
Capital introduced | 4,000 | 58,200 |
Water rates paid for premises | 9,900 | 9,900 |
Haulage costs | 6,000 | 6,000 |
At the year end the amount due to the director was £232,233 (2023 - £228,233). |
Mr D W Urch |
Director |
2024 | 2023 |
Capital introduced | - | - |
Haulage costs | 5,500 | 3,000 |
Cheddar Water Limited (Registered number: 05212658) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
Capital withdrawn | 1,002 | 177 |
At the year end the amount due to the director was £NIL (2023 - £1,002). |
15. | ULTIMATE CONTROLLING PARTY |
The controlling party is D L Urch. |