IRIS Accounts Production v24.3.2.46 01531211 Board of Directors 1.11.23 31.10.24 31.10.24 22.11.24 false true false false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh015312112023-10-31015312112024-10-31015312112023-11-012024-10-31015312112022-10-31015312112022-11-012023-10-31015312112023-10-3101531211ns15:EnglandWales2023-11-012024-10-3101531211ns14:PoundSterling2023-11-012024-10-3101531211ns10:Director12023-11-012024-10-3101531211ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3101531211ns10:SmallEntities2023-11-012024-10-3101531211ns10:Audited2023-11-012024-10-3101531211ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3101531211ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3101531211ns10:AbridgedAccounts2023-11-012024-10-310153121112023-11-012024-10-3101531211ns10:OrdinaryShareClass12023-11-012024-10-3101531211ns10:Director22023-11-012024-10-3101531211ns10:Director32023-11-012024-10-3101531211ns10:Director42023-11-012024-10-3101531211ns10:Director52023-11-012024-10-3101531211ns10:CompanySecretary12023-11-012024-10-3101531211ns10:RegisteredOffice2023-11-012024-10-3101531211ns5:CurrentFinancialInstruments2024-10-3101531211ns5:CurrentFinancialInstruments2023-10-3101531211ns5:ShareCapital2024-10-3101531211ns5:ShareCapital2023-10-3101531211ns5:FurtherSpecificReserve1ComponentTotalEquity2024-10-3101531211ns5:FurtherSpecificReserve1ComponentTotalEquity2023-10-3101531211ns5:RetainedEarningsAccumulatedLosses2024-10-3101531211ns5:RetainedEarningsAccumulatedLosses2023-10-3101531211ns5:NetGoodwill2023-11-012024-10-3101531211ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3101531211ns10:OrdinaryShareClass12024-10-31
REGISTERED NUMBER: 01531211 (England and Wales)


















Financial Statements for the Year Ended 31 October 2024

for

Charleswater Limited

Charleswater Limited (Registered number: 01531211)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Charleswater Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: J Brake
C De La Isla
V A Callan
D D Allen
M Hempel





SECRETARY: V A Callan





REGISTERED OFFICE: 2a Dunhams Lane
Letchworth
Hertfordshire
SG6 1BE





REGISTERED NUMBER: 01531211 (England and Wales)





AUDITORS: George Hay Partnership LLP
Chartered Accountants
and Statutory Auditor
Unit 1B
Focus 4
Fourth Avenue
Letchworth
Hertfordshire
SG6 2TU

Charleswater Limited (Registered number: 01531211)

Abridged Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 117,400
Tangible assets 6 418,573 463,200
418,573 580,600

CURRENT ASSETS
Stocks 960,439 996,870
Debtors 808,192 924,944
Cash at bank 817,077 1,903,585
2,585,708 3,825,399
CREDITORS
Amounts falling due within one year 759,181 2,370,311
NET CURRENT ASSETS 1,826,527 1,455,088
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,245,100

2,035,688

PROVISIONS FOR LIABILITIES 56,889 64,399
NET ASSETS 2,188,211 1,971,289

CAPITAL AND RESERVES
Called up share capital 7 2,000 2,000
Contribution from parent 700,000 700,000
Retained earnings 1,486,211 1,269,289
SHAREHOLDERS' FUNDS 2,188,211 1,971,289

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 November 2024 and were signed on its behalf by:





D D Allen - Director


Charleswater Limited (Registered number: 01531211)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

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

The financial statements are presented in sterling (GBP) which is the functional currency of the company.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Goodwill
Goodwill is being amortised over its estimated useful life of 10 years on a straight line basis.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings - 4% on cost and over period of lease
Plant and machinery etc. - At varying rates on cost

Charleswater Limited (Registered number: 01531211)

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

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
Loans are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised costs using the effective interest rate method less impairment. if an arrangement constitutes a financing transaction it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

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.

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.

Investment properties
The investment element of the mixed use property included on the balance sheet is measured at cost less impairment as the directors believe that the investment element of the property could not be sold separately.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 30 ) .

Charleswater Limited (Registered number: 01531211)

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

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023
and 31 October 2024 1,174,000
AMORTISATION
At 1 November 2023 1,056,600
Amortisation for year 117,400
At 31 October 2024 1,174,000
NET BOOK VALUE

At 31 October 2024 -
At 31 October 2023 117,400

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 1,012,963
Additions 39,824
At 31 October 2024 1,052,787
DEPRECIATION
At 1 November 2023 549,763
Charge for year 84,451
At 31 October 2024 634,214
NET BOOK VALUE
At 31 October 2024 418,573
At 31 October 2023 463,200

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £1 2,000 2,000

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Williams ACA (Senior Statutory Auditor)
for and on behalf of George Hay Partnership LLP

Charleswater Limited (Registered number: 01531211)

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

9. PARENT UNDERTAKING

The parent undertaking of the group for which this company is included in consolidated financial statements is Desco industries Inc. a company incorporated in the United States of America. The address of the parent company is 3651 Walnut Avenue, Chino CA 91710.