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REGISTERED NUMBER: 05212658







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: D L Urch
D W Urch
Mrs T S Urch
Mrs V Urch





SECRETARY: Mrs V Urch





REGISTERED OFFICE: Carscliffe
Uppert Draycott Road
Cheddar
Somerset
BS27 3YL





REGISTERED NUMBER: 05212658





ACCOUNTANTS: Stanley Joseph Limited
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 4 614,066 690,335

CURRENT ASSETS
Inventories 5 290,000 298,000
Debtors 6 142,811 76,286
Cash at bank and in hand 14,758 1,508
447,569 375,794
CREDITORS
Amounts falling due within one year 7 418,744 450,533
NET CURRENT ASSETS/(LIABILITIES) 28,825 (74,739 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

642,891

615,596

CREDITORS
Amounts falling due after more than one
year

8

(488,132

)

(563,313

)

PROVISIONS FOR LIABILITIES (59,766 ) -
NET ASSETS 94,993 52,283

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 80,100 80,100
Retained earnings 12 14,893 (27,817 )
SHAREHOLDERS' FUNDS 94,993 52,283

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

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

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 24 October 2024 and were signed on its behalf by:





D L Urch - Director


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 private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

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 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
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 - Straight line over 20 years
Motor vehicles - 25% on reducing balance

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 6 (2023 - 5 ) .

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 1,496,545 3,725 23,631 1,523,901
DEPRECIATION
At 1 September 2023 811,977 2,655 18,934 833,566
Charge for year 74,827 268 1,174 76,269
At 31 August 2024 886,804 2,923 20,108 909,835
NET BOOK VALUE
At 31 August 2024 609,741 802 3,523 614,066
At 31 August 2023 684,568 1,070 4,697 690,335

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 7,798
DEPRECIATION
At 1 September 2023 4,509
Charge for year 822
At 31 August 2024 5,331
NET BOOK VALUE
At 31 August 2024 2,467
At 31 August 2023 3,289

5. INVENTORIES
31.8.24 31.8.23
£    £   
Stocks 290,000 298,000

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 136,932 70,266
Prepayments and accrued income 5,879 6,020
142,811 76,286

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (see note 9) 76,403 158,465
Hire purchase contracts 1,450 1,450
Trade creditors 89,763 70,848
Social security and other taxes 19 43
VAT 36,354 5,713
Pension creditor 56 39
Directors' current accounts 213,319 212,715
Accrued expenses 1,380 1,260
418,744 450,533

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans (see note 9) 217,518 291,249
Hire purchase contracts 614 2,064
Directors' loan accounts 270,000 270,000
488,132 563,313

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 - 80,632
Bank loans 76,403 77,833
76,403 158,465

Amounts falling due between two and five years:
Bank loans - 2-5 years 217,518 289,215

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 - 80,632
Bank loans 293,921 369,082
293,921 449,714

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: £    £   
80,100 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 (27,817 )
Profit for the year 42,710
At 31 August 2024 14,893

13. OTHER FINANCIAL COMMITMENTS

20242023
Operating lease payments due:

in less than one year:18,56418,564

between 2 - 5 years33,25051,814

over 5 years--
51,81470,378

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
20242023

Capital Introduced28,00036,369

Water rates paid for premises9,9009,900

Capital withdrawn28,46017,950

At the year end the amount due to the director was £236,188 (2023- £236,648).


Ms T S Urch
Director
20242023

Capital introduced7024,247

Capital withdrawn2,637873

At the year end the amount due to the director was £14,897 (2023 - £16,832).


Mrs V Urch
Director
20242023

Capital introduced4,00058,200

Water rates paid for premises9,9009,900

Haulage costs6,0006,000

At the year end the amount due to the director was £232,233 (2023 - £228,233).

Mr D W Urch
Director
20242023

Capital introduced--

Haulage costs5,5003,000

Cheddar Water Limited (Registered number: 05212658)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

Capital withdrawn1,002177

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.