REGISTERED NUMBER: 03996325 (England and Wales)

CORNISH NATURAL SPRING WATER COMPANY

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M G Ham

Mr J A Ham

Mrs E J Ham

REGISTERED OFFICE:

Prospect House

11 Western Road

Launceston

Cornwall

PL15 7AS

REGISTERED NUMBER:

03996325 (England and Wales)

ACCOUNTANTS:

Jane Maynard Limited

T/A Maynard Johns

37 Mill Street

Bideford

DEVON

EX39 2JJ

FIXED ASSETS

Intangible assets

4

43,750

50,000

Tangible assets

5

98,096

111,105

141,846

161,105

CURRENT ASSETS

Stocks

95,890

108,456

Debtors

6

195,840

153,676

291,730

262,132

CREDITORS

Amounts falling due within one year

7

(386,586

)

(337,730

)

NET CURRENT LIABILITIES

(94,856

)

(75,598

)

TOTAL ASSETS LESS CURRENT LIABILITIES

46,990

85,507

CREDITORS

Amounts falling due after more than one year

8

(170,837

)

(190,405

)

PROVISIONS FOR LIABILITIES

(16,458

)

(20,580

)

NET LIABILITIES

(140,305

)

(125,478

)

CAPITAL AND RESERVES

Called up share capital

182

182

Share premium

14,918

14,918

Retained earnings

(155,405

)

(140,578

)

SHAREHOLDERS' FUNDS

(140,305

)

(125,478

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 17 September 2025 and were signed on its behalf by:

Mr M G Ham - Director

1.	STATUTORY INFORMATION

Cornish Natural Spring Water Company 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks 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 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.

Going concern

These financial statements have been prepared on a going concern basis as the directors have agreed to provide ongoing financial support via their directors' loan accounts.

The directors have assessed the company's financial position as well as considered the future sales expectation. They have concluded that the company will still be able to trade for at least the next eighteen months. They therefore, consider it correct to continue to adopt the going concern basis of accounting.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

125,000

AMORTISATION

At 1 January 2024

75,000

Charge for year

6,250

At 31 December 2024

81,250

NET BOOK VALUE

At 31 December 2024

43,750

At 31 December 2023

50,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

166,812

630,268

797,080

Additions

8,921

25,034

33,955

Disposals

-

(271,554

)

(271,554

)

At 31 December 2024

175,733

383,748

559,481

DEPRECIATION

At 1 January 2024

163,322

522,653

685,975

Charge for year

934

28,517

29,451

Eliminated on disposal

-

(254,041

)

(254,041

)

At 31 December 2024

164,256

297,129

461,385

NET BOOK VALUE

At 31 December 2024

11,477

86,619

98,096

At 31 December 2023

3,490

107,615

111,105

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

94,067

65,036

Other debtors

35

24

Corporation tax recoverable

16,011

4,736

Directors' current accounts

47,441

36,844

Prepayments

38,286

47,036

195,840

153,676

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

144,103

119,204

Other loans

20,000

-

Hire purchase contracts

11,322

10,741

Trade creditors

96,260

137,616

Tax

11,446

3,947

Social security and other taxes

8,574

2,025

VAT

16,544

5,568

Other creditors

48,772

27,772

Directors' current accounts

24,400

24,400

Accrued expenses

2,092

1,756

Deferred government grants

3,073

4,701

386,586

337,730

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

132,381

149,570

Hire purchase contracts

20,818

16,339

Deferred government grants

17,638

24,496

170,837

190,405

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr M G Ham

Balance outstanding at start of year

36,843

42,483

Amounts advanced

22,251

-

Amounts repaid

(11,653

)

(5,640

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

47,441

36,843

The company charged interest on the loan to the director at a rate of 2.25% per annum. The interest unpaid at the year end is £897.

10.	GOING CONCERN

These financial statements have been prepared on a going concern basis as the directors have agreed to provide ongoing financial support via their directors' loan accounts.

The directors have assessed the company's financial position as well as considered the future sales expectation. They have concluded that the company will still be able to trade for at least the next eighteen months. They therefore, consider it correct to continue to adopt the going concern basis of accounting.