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REGISTERED NUMBER: 03949040 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| CLEARWATER PRODUCTS LIMITED |

CLEARWATER PRODUCTS LIMITED (REGISTERED NUMBER: 03949040) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2024

Page |

| Company information | 1 |

| Balance sheet | 2 |

| Notes to the financial statements | 3 |

| Chartered accountants' report | 6 |

| CLEARWATER PRODUCTS LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 December 2024

| DIRECTORS: | D Stringfellow

| J J Casswell

| SECRETARY: | D Stringfellow

| REGISTERED OFFICE: | Shannon Place

| Tewkesbury Business Park

| Tewkesbury

| Gloucestershire

| GL20 8SL

| REGISTERED NUMBER: | 03949040 (England and Wales)

| ACCOUNTANTS: | Mitchell Glanville Limited

| 41 Rodney Road

| Cheltenham

| Gloucestershire

| GL50 1HX

CLEARWATER PRODUCTS LIMITED (REGISTERED NUMBER: 03949040) |

BALANCE SHEET

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 407,767 |  | 382,391 |  |

407,767 |  | 382,391 |  |

CURRENT ASSETS

Stocks | 3,714,633 |  | 3,828,896 |  |

Debtors | 6 | 1,584,870 |  | 1,579,670 |  |

Cash at bank | 427,328 |  | 624,970 |  |

5,726,831 |  | 6,033,536 |  |

CREDITORS

Amounts falling due within one year | 7 | 1,280,166 |  | 1,270,124 |  |

NET CURRENT ASSETS | 4,446,665 |  | 4,763,412 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,854,432 |  | 5,145,803 |  |

PROVISIONS FOR LIABILITIES | 77,392 |  | 48,988 |  |

NET ASSETS | 4,777,040 |  | 5,096,815 |  |

CAPITAL AND RESERVES

Called up share capital | 90 |  | 100 |  |

Retained earnings | 9 | 4,776,950 |  | 5,096,715 |  |

SHAREHOLDERS' FUNDS | 4,777,040 |  | 5,096,815 |  |

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:

D Stringfellow - Director

CLEARWATER PRODUCTS LIMITED (REGISTERED NUMBER: 03949040) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2024

1. | STATUTORY INFORMATION

| Clearwater Products 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 five 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.

| Plant and machinery etc | - | 25% on reducing balance and 15% 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.

| HIRE PURCHASE AND LEASING COMMITMENTS

| 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.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 34 (2023 - 32 ) .

CLEARWATER PRODUCTS LIMITED (REGISTERED NUMBER: 03949040) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 December 2024

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 1,750,000 |  |

| AMORTISATION

| At 1 January 2024

| and 31 December 2024 | 1,750,000 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  |

| At 31 December 2023 | - |  |

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2024 | 673,809 |  |

| Additions | 125,521 |  |

| Disposals | (46,178 | ) |

| At 31 December 2024 | 753,152 |  |

| DEPRECIATION

| At 1 January 2024 | 291,418 |  |

| Charge for year | 87,471 |  |

| Eliminated on disposal | (33,504 | ) |

| At 31 December 2024 | 345,385 |  |

| NET BOOK VALUE

| At 31 December 2024 | 407,767 |  |

| At 31 December 2023 | 382,391 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 972,614 |  | 1,067,881 |  |

| Other debtors | 612,256 |  | 511,789 |  |

1,584,870 |  | 1,579,670 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade creditors | 358,485 |  | 404,056 |  |

| Taxation and social security | 221,880 |  | 311,298 |  |

| Other creditors | 699,801 |  | 554,770 |  |

1,280,166 |  | 1,270,124 |  |

CLEARWATER PRODUCTS LIMITED (REGISTERED NUMBER: 03949040) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 December 2024

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 | 2023 |

£ | £ |

| Within one year | 13,809 |  | - |  |

| Between one and five years | 26,275 |  | 20,997 |  |

40,084 |  | 20,997 |  |

9. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2024 | 5,096,715 |  |

| Profit for the year | 325,200 |  |

| Purchase of own shares | (644,965 | ) |

| At 31 December 2024 | 4,776,950 |  |

10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 | 2023 |

£ | £ |

| D Stringfellow

| Balance outstanding at start of year | (267,425 | ) | (425,327 | ) |

| Amounts advanced | 170,000 |  | 207,902 |  |

| Amounts repaid | (250,000 | ) | (50,000 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (347,425 | ) | (267,425 | ) |

| J J Casswell

| Balance outstanding at start of year | (267,425 | ) | (425,327 | ) |

| Amounts advanced | 120,000 |  | 157,902 |  |

| Amounts repaid | (200,000 | ) | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (347,425 | ) | (267,425 | ) |

| T P Cavanagh

| Balance outstanding at start of year | (949 | ) | (28,372 | ) |

| Amounts advanced | 949 |  | 27,423 |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | (949 | ) |

11. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling parties are Mr D Stringfellow and Mr J Casswell by virtue of their directorships and shareholdings.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS

ON THE UNAUDITED FINANCIAL STATEMENTS OF

CLEARWATER PRODUCTS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Clearwater Products Limited for the year ended 31 December 2024 which comprise the Income statement, Balance sheet, Statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Clearwater Products Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Clearwater Products Limited and state those matters that we have agreed to state to the Board of Directors of Clearwater Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Clearwater Products Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Clearwater Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Clearwater Products Limited. You consider that Clearwater Products Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Clearwater Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Mitchell Glanville Limited

41 Rodney Road

Cheltenham

Gloucestershire

GL50 1HX

17 September 2025