Clearwater Hampers Limited 06167203 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is that of the production and supply throughout the world of premium gifts, including food and wine hampers and gift baskets. Digita Accounts Production Advanced 6.30.9574.0 true false true 06167203 2024-02-01 2025-01-31 06167203 2025-01-31 06167203 bus:OrdinaryShareClass1 2025-01-31 06167203 core:FurtherSpecificItem1DeferredTaxComponentTotalForDeferredTax 2025-01-31 06167203 core:OtherDeferredTax 2025-01-31 06167203 core:TaxLossesCarry-forwardsDeferredTax 2025-01-31 06167203 core:CurrentFinancialInstruments 2025-01-31 06167203 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 06167203 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 06167203 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-01-31 06167203 core:PatentsTrademarksLicencesConcessionsSimilar 2025-01-31 06167203 core:BetweenTwoFiveYears 2025-01-31 06167203 core:WithinOneYear 2025-01-31 06167203 core:FurnitureFittingsToolsEquipment 2025-01-31 06167203 core:MotorVehicles 2025-01-31 06167203 bus:SmallEntities 2024-02-01 2025-01-31 06167203 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 06167203 bus:FilletedAccounts 2024-02-01 2025-01-31 06167203 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 06167203 bus:RegisteredOffice 2024-02-01 2025-01-31 06167203 bus:CompanySecretaryDirector1 2024-02-01 2025-01-31 06167203 bus:Director4 2024-02-01 2025-01-31 06167203 bus:Director5 2024-02-01 2025-01-31 06167203 bus:Director6 2024-02-01 2025-01-31 06167203 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 06167203 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 06167203 bus:Agent1 2024-02-01 2025-01-31 06167203 core:AssetsNotYetAvailableForUseIntangibles 2024-02-01 2025-01-31 06167203 core:ComputerSoftware 2024-02-01 2025-01-31 06167203 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-01 2025-01-31 06167203 core:LicencesFranchises 2024-02-01 2025-01-31 06167203 core:PatentsTrademarksLicencesConcessionsSimilar 2024-02-01 2025-01-31 06167203 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 06167203 core:LandBuildings 2024-02-01 2025-01-31 06167203 core:MotorVehicles 2024-02-01 2025-01-31 06167203 core:PlantMachinery 2024-02-01 2025-01-31 06167203 core:Subsidiary1 2024-02-01 2025-01-31 06167203 core:Subsidiary1 countries:AllCountries 2024-02-01 2025-01-31 06167203 core:Subsidiary2 2024-02-01 2025-01-31 06167203 core:Subsidiary2 countries:AllCountries 2024-02-01 2025-01-31 06167203 core:Subsidiary3 2024-02-01 2025-01-31 06167203 core:Subsidiary3 countries:AllCountries 2024-02-01 2025-01-31 06167203 countries:EnglandWales 2024-02-01 2025-01-31 06167203 2024-01-31 06167203 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 06167203 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-31 06167203 core:FurnitureFittingsToolsEquipment 2024-01-31 06167203 core:MotorVehicles 2024-01-31 06167203 2023-05-01 2024-01-31 06167203 2024-01-31 06167203 bus:OrdinaryShareClass1 2024-01-31 06167203 core:FurtherSpecificItem1DeferredTaxComponentTotalForDeferredTax 2024-01-31 06167203 core:OtherDeferredTax 2024-01-31 06167203 core:TaxLossesCarry-forwardsDeferredTax 2024-01-31 06167203 core:CurrentFinancialInstruments 2024-01-31 06167203 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 06167203 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 06167203 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 06167203 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-31 06167203 core:BetweenTwoFiveYears 2024-01-31 06167203 core:WithinOneYear 2024-01-31 06167203 core:FurnitureFittingsToolsEquipment 2024-01-31 06167203 core:MotorVehicles 2024-01-31 06167203 core:Subsidiary1 2023-05-01 2024-01-31 06167203 core:Subsidiary2 2023-05-01 2024-01-31 06167203 core:Subsidiary3 2023-05-01 2024-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06167203

Clearwater Hampers Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2025

 

Clearwater Hampers Limited

Company Information

Directors

Mr Patrick Gore

Mr Adam Gethin

Mrs Hannah Lia

Mr Nicholas Bostock

Company secretary

Mr Patrick Gore

Registered office

36 Innovation Drive
Milton Park
Abingdon
OX14 4RT

Solicitors

Gardner Leader LLP
Hardwick House
Prospect Place
Swindon
SN1 3LJ

Bankers

NatWest Bank plc
11 Market Place
Abingdon
OX14 3HH

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Clearwater Hampers Limited

(Registration number: 06167203)
Balance Sheet as at 31 January 2025

Note

31 January
2025
£

31 January
2024
£

Fixed assets

 

Intangible assets

5

242,554

134,105

Tangible assets

6

27,067

97,774

Investments

7

102

102

 

269,723

231,981

Current assets

 

Stocks

8

468,912

563,264

Debtors

9

1,082,355

2,324,374

Cash at bank and in hand

 

1,777,898

1,192,510

 

3,329,165

4,080,148

Creditors: Amounts falling due within one year

10

(2,122,045)

(2,439,739)

Net current assets

 

1,207,120

1,640,409

Total assets less current liabilities

 

1,476,843

1,872,390

Creditors: Amounts falling due after more than one year

10

(666,667)

(1,119,561)

Deferred tax assets

4

71,504

86,682

Net assets

 

881,680

839,511

Capital and reserves

 

Called up share capital

90,000

90,000

Capital redemption reserve

633,996

633,996

Retained earnings

157,684

115,515

Shareholders' funds

 

881,680

839,511

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 August 2025 and signed on its behalf by:
 


Mr Patrick Gore
Company secretary and director

 

Clearwater Hampers Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
36 Innovation Drive
Milton Park
Abingdon
OX14 4RT

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small group.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operation existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

A dilapidations provision has been recognised in these accounts, as the directors' best estimate of the costs that will be incurred at the end of the premises lease period. No other significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

 

Clearwater Hampers Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

 

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold property

25%-33% of cost

Other tangibles

25%-33% of cost

Motor vehicles

25%-33% of cost

 

Clearwater Hampers Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

 

2

Accounting policies (continued)

Intangible assets

Website expenditure incurred on development related directly to trade can be carried forward when it is reasonable to assume that it is probable that future economic benefits will be generated.

The ERP system costs are initially recorded at cost and written off over the term of the lease.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life. Recognition starts at the point the asset becomes available for use. The useful lives considered for intangibles is as follows:

Asset class

Amortisation method and rate

ERP system

20% of cost

Website development

33% of cost

Assets under construction

33% of cost on completion of the asset

Investments held as fixed assets

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using a weighted average cost formula.

The cost of finished goods and work in progress comprises direct materials. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Clearwater Hampers Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

 

2

Accounting policies (continued)

Financial Instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when, there exists a legally enforceable right to set off the recognised amounts and the company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets:
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets:
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Clearwater Hampers Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

 

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2024 - 37).

 

4

Deferred tax

Deferred tax assets and liabilities

2025

Asset
£

Tax losses carried forward

89,739

Short term timing difference

530

Fixed asset timing difference

(18,765)

71,504

The deferred tax asset predominantly relates to losses carried forward. The directors believe that the asset will be realised in the short and medium term against future profits.
 

2024

Asset
£

Tax losses carried forward

119,391

Short term timing difference

602

Fixed asset timing difference

(33,311)

86,682

 

Clearwater Hampers Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

 

5

Intangible assets

ERP system and website development
£

Assets under construction
£

Total
£

Cost

At 1 February 2024

376,340

24,615

400,955

Additions

-

169,947

169,947

Disposals

(1,679)

-

(1,679)

At 31 January 2025

374,661

194,562

569,223

Amortisation

At 1 February 2024

266,850

-

266,850

Amortisation charge

60,659

-

60,659

Amortisation eliminated on disposals

(840)

-

(840)

At 31 January 2025

326,669

-

326,669

Carrying amount

At 31 January 2025

47,992

194,562

242,554

At 31 January 2024

109,490

24,615

134,105

 

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 February 2024

605,231

247,160

852,391

Additions

22,192

-

22,192

Disposals

-

(189,970)

(189,970)

At 31 January 2025

627,423

57,190

684,613

Depreciation

At 1 February 2024

574,125

180,492

754,617

Charge for the period

27,324

30,582

57,906

Eliminated on disposal

-

(154,977)

(154,977)

At 31 January 2025

601,449

56,097

657,546

Carrying amount

At 31 January 2025

25,974

1,093

27,067

At 31 January 2024

31,106

66,668

97,774

 

Clearwater Hampers Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

 

7

Investments held as fixed assets

31 January
2025
£

31 January
2024
£

Shares in group undertakings

102

102

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

     

31 January 2025

31 January
2024

Subsidiary undertakings

Clearwater Hampers Operations Limited

England and Wales

Ordinary

100%

100%

The Corporate Hamper Company Limited

England and Wales

Ordinary

100%

100%

Clearwater Gifts Limited

England and Wales

Ordinary

100%

100%

Clearwater Hampers Operations Limited is dormant. The profit for the financial period was £nil and the aggregate amount of capital and reserves at the end of the period was £100.

The Corporate Hamper Company Limited is dormant. The profit for the financial period of was £nil and the aggregate amount of capital and reserves at the end of the period was £1.

Clearwater Gifts Limited is dormant. The profit for the financial period of was £nil and the aggregate amount of capital and reserves at the end of the period was £1.

 

8

Stocks

31 January 2025
 £

31 January 2024
 £

Stocks

468,912

563,264

 

9

Debtors

31 January
2025
£

31 January
2024
£

Trade debtors

35,056

52,675

Receivables from related parties

860,859

764,518

Other debtors and prepayments

186,440

1,507,181

1,082,355

2,324,374

 

Clearwater Hampers Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

 

10

Creditors

Note

31 January
2025
£

31 January
2024
£

Due within one year

 

Finance lease liabilities

55,742

108,281

Trade creditors

 

1,284,927

1,565,753

Amounts due to related parties

 

2

2

Taxation and social security

 

32,928

339,937

Other creditors

 

415,113

425,766

Other loans

 

333,333

-

 

2,122,045

2,439,739

Due after one year

 

Finance lease liabilities

 

-

119,561

Other loans

 

666,667

1,000,000

 

666,667

1,119,561

Included in other creditors is a provision for dilapidations of £99,273 (2024 - £107,273), being the directors' best estimate of amounts which might be payable on the expiry of leases to reinstate the premises to an acceptable condition.

Other loans is a secured loan received during the previous period from Throne Limited (a company owned and controlled by director and shareholder Nick Bostock). The loan is secured by a cross guarantee debenture with the company and its immediate and ultimate parent, GOMP Limited. Interest is charged at the higher rate of 6% per annum or Bank of England base rate plus 1.75% per annum.

 

11

Share capital

Allotted, called up and fully paid shares

 

31 January 2025

31 January 2024

 

No.

£

No.

£

Ordinary shares of £1 each

90,000

90,000

90,000

90,000

         
 

Clearwater Hampers Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

 

12

Commitments

The company has committed to an intra-group cross guarantee arrangement with its parent company GOMP Limited to guarantee loans and borrowings.

Amounts not provided for in the balance sheet - Operating leases

The total of future minimum lease payments is as follows:

31 January 2025
 £

31 January
2024
 £

Not later than one year

204,902

241,396

Later than one year and not later than five years

-

85,282

204,902

326,678

The amount of non-cancellable operating lease payments recognised as an expense during the year was £331,170 (2024 - £241,260).

 

13

Related party transactions

As at 31 January 2025 the balance owed by GOMP Limited was £860,859 (2024 - £764,518).

 

14

Parent undertaking

The company's immediate parent company is GOMP Limited, a company under the control of P Gore and N Bostock, both Directors of the company. The financial statements of GOMP Limited are available from Companies House.