REGISTERED NUMBER: 12220360 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SHEARWATER MORTGAGES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms L J Poole

Ms M J Brown

REGISTERED OFFICE:

8 Myrtle Avenue

Fareham

Hampshire

PO16 9JT

REGISTERED NUMBER:

12220360 (England and Wales)

ACCOUNTANTS:

Gibson Whitter

Chartered Accountants

and Chartered Tax Advisers

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Intangible assets

4

11,700

14,040

Tangible assets

5

631

-

12,331

14,040

CURRENT ASSETS

Debtors

6

1,701

2,659

Cash at bank

32,340

24,090

34,041

26,749

CREDITORS

Amounts falling due within one year

7

43,846

36,240

NET CURRENT LIABILITIES

(9,805

)

(9,491

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,526

4,549

CREDITORS

Amounts falling due after more than one year

8

2,182

4,167

NET ASSETS

344

382

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

340

378

344

382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 and authorised for issue by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

Ms M J Brown - Director

Ms L J Poole - Director

1.	STATUTORY INFORMATION

Shearwater Mortgages 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 10, is being amortised evenly over its estimated useful life of nil 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2023

and 30 September 2024

23,400

AMORTISATION

At 1 October 2023

9,360

Charge for year

2,340

At 30 September 2024

11,700

NET BOOK VALUE

At 30 September 2024

11,700

At 30 September 2023

14,040

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

947

At 30 September 2024

947

DEPRECIATION

Charge for year

316

At 30 September 2024

316

NET BOOK VALUE

At 30 September 2024

631

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Other debtors

1,701

2,659

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans and overdrafts

1,985

2,006

Taxation and social security

28,847

28,482

Other creditors

13,014

5,752

43,846

36,240

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans

2,182

4,167

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the directors £7,447 (30.9.23: £94).

10.	ULTIMATE CONTROLLING PARTY

The controlling parties are Ms L J Poole and Mrs M J Brown.