1 February 2023 v2025.6.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBPSC3536622023-02-012024-01-31SC3536622024-01-31SC3536622023-01-31SC353662core:WithinOneYear2024-01-31SC353662core:WithinOneYear2023-01-31SC353662core:AfterOneYear2024-01-31SC353662core:AfterOneYear2023-01-31SC353662core:ShareCapital2024-01-31SC353662core:ShareCapital2023-01-31SC353662core:RevaluationReserve2024-01-31SC353662core:RevaluationReserve2023-01-31SC353662core:RetainedEarningsAccumulatedLosses2024-01-31SC353662core:RetainedEarningsAccumulatedLosses2023-01-31SC353662bus:Director12023-02-012024-01-31SC353662bus:RegisteredOffice2023-02-012024-01-31SC353662core:LandBuildings2023-02-012024-01-31SC353662core:PlantMachinery2023-02-012024-01-31SC353662core:LandBuildings2023-02-01SC353662core:PlantMachinery2023-02-01SC3536622023-02-01SC353662core:LandBuildings2024-01-31SC353662core:PlantMachinery2024-01-31SC353662core:LandBuildings2023-01-31SC353662core:CostValuation2023-02-01SC353662core:CostValuation2024-01-31SC35366212023-02-012024-01-31SC3536622022-02-012023-01-31SC353662countries:Scotland2023-02-012024-01-31SC353662bus:AuditExemptWithAccountantsReport2023-02-012024-01-31SC353662bus:PrivateLimitedCompanyLtd2023-02-012024-01-31SC353662bus:SmallEntities2023-02-012024-01-31SC353662bus:FullAccounts2023-02-012024-01-31
Company registration number:
SC353662
Clearwater Group Scotland Limited
Unaudited Filleted Financial Statements for the year ended
31 January 2024
Clearwater Group Scotland Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Clearwater Group Scotland Limited
Year ended
31 January 2024
As described on the statement of financial position, the Board of Directors of
Clearwater Group Scotland Limited
are responsible for the preparation of the
financial statements
for the year ended
31 January 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Horizon Chartered Accountants
20-23 Woodside Place
Glasgow
G3 7QL
United Kingdom
Date:
31 January 2025
Clearwater Group Scotland Limited
Statement of Financial Position
31 January 2024
20242023
Note££
Fixed assets    
Tangible assets 5
677,000
 
377,000
 
Investments 6
210
 
210
 
677,210
 
377,210
 
Current assets    
Debtors 7
56,209
 
35,074
 
Cash at bank and in hand
6,282
 
42,783
 
62,491
 
77,857
 
Creditors: amounts falling due within one year 8
(99,599
)
(64,699
)
Net current (liabilities)/assets
(37,108
)
13,158
 
Total assets less current liabilities 640,102   390,368  
Creditors: amounts falling due after more than one year 9
(421,690
)
(182,208
)
Net assets
218,412
 
208,160
 
Capital and reserves    
Called up share capital
106
 
106
 
Revaluation reserve
177,988
 
177,988
 
Profit and loss account
40,318
 
30,066
 
Shareholders funds
218,412
 
208,160
 
For the year ending
31 January 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
31 January 2025
, and are signed on behalf of the board by:
I Mcmillan
Director
Company registration number:
SC353662
Clearwater Group Scotland Limited
Notes to the Financial Statements
Year ended
31 January 2024

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
20 - 23 Woodside Place
,
Glasgow
,
G3 7QL
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
5% Straight line
Plant and machinery
25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 February 2023
475,000
 
9,000
 
484,000
 
Additions
300,000
  -  
300,000
 
At
31 January 2024
775,000
 
9,000
 
784,000
 
Depreciation      
At
1 February 2023
and
31 January 2024
98,000
 
9,000
 
107,000
 
Carrying amount      
At
31 January 2024
677,000
  -  
677,000
 
At 31 January 2023
377,000
  -  
377,000
 

6 Investments

Other investments other than loans
£
Cost  
At
1 February 2023
210
 
At
31 January 2024
210
 
Impairment  
At
1 February 2023
and
31 January 2024
-  
Carrying amount  
At
31 January 2024
210
 
At 31 January 2023
210
 

7 Debtors

20242023
££
Trade debtors
22,300
 
4,800
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
33,909
 
30,274
 
56,209
 
35,074
 

8 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
59,902
 
21,972
 
Taxation and social security
8,888
 
12,612
 
Other creditors
30,809
 
30,115
 
99,599
 
64,699
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
421,690
 
182,208