REGISTERED NUMBER: 04023517 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BUXTON WATER LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Pendleton

J C Maher

M B Killingley

M Hothersall

REGISTERED OFFICE:

327 Clifton Drive South

Lytham St Annes

Lancashire

FY8 1HN

REGISTERED NUMBER:

04023517 (England and Wales)

ACCOUNTANTS:

Whitehead & Howarth

327 Clifton Drive South

Lytham St Annes

Lancashire

FY8 1HN

BANKERS:

National Westminster Bank Plc

46 Market Street

Chorley

Lancashire

PR7 2RZ

FIXED ASSETS

Tangible assets

4

449,642

460,062

CURRENT ASSETS

Stocks

5

145,995

213,897

Debtors

6

1,757,686

2,391,723

Cash at bank and in hand

111,785

64,285

2,015,466

2,669,905

CREDITORS

Amounts falling due within one year

7

959,447

1,481,226

NET CURRENT ASSETS

1,056,019

1,188,679

TOTAL ASSETS LESS CURRENT LIABILITIES

1,505,661

1,648,741

CREDITORS

Amounts falling due after more than one year

8

(322,782

)

(603,372

)

PROVISIONS FOR LIABILITIES

12

(100,900

)

(76,258

)

NET ASSETS

1,081,979

969,111

CAPITAL AND RESERVES

Called up share capital

13

2,000

2,000

Share premium

14

7,439

7,439

Capital redemption reserve

14

358

358

Retained earnings

14

1,072,182

959,314

SHAREHOLDERS' FUNDS

1,081,979

969,111

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 26 September 2025 and were signed on its behalf by:

J C Maher - Director

1.	STATUTORY INFORMATION

Buxton Water Ltd 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

The turnover shown in the profit and loss account represents the value of all goods sold and services provided during the year, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product and service have been transfered to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Computer equipment - On a straight line basis between 1 and 5 years, down to residual value.

Motor vehicles - On a straight line basis over 2 to 5 years, down to residual value.

Plant and machinery - On a straight line basis between 1 and 5 years, down to residual value.

Fixtures and fittings - On a straight line basis over 3 years, down to residual value.

Tangible fixed assets are stated at cost less accumulated depreciation.

Stocks

Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments

Basic financial instruments are recognised at amortised cost.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 27 (2023 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

1,058,384

Additions

117,221

Disposals

(42,565

)

At 31 December 2024

1,133,040

DEPRECIATION

At 1 January 2024

598,322

Charge for year

126,706

Eliminated on disposal

(41,630

)

At 31 December 2024

683,398

NET BOOK VALUE

At 31 December 2024

449,642

At 31 December 2023

460,062

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

159,179

Additions

102,456

Reclassification/transfer

237,866

At 31 December 2024

499,501

DEPRECIATION

At 1 January 2024

69,922

Charge for year

64,569

Reclassification/transfer

64,181

At 31 December 2024

198,672

NET BOOK VALUE

At 31 December 2024

300,829

At 31 December 2023

89,257

5.

STOCKS

31.12.24

31.12.23

£

£

Stocks

68,172

88,780

Work-in-progress

77,823

125,117

145,995

213,897

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

375,218

424,650

Amounts owed by group undertakings

1,232,002

1,897,634

Other debtors

108,450

-

VAT

17,448

27,088

Prepayments and accrued income

24,568

42,351

1,757,686

2,391,723

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts (see note 9)

300,000

361,458

Hire purchase contracts (see note 10)

63,675

71,906

Trade creditors

124,422

234,260

Amounts owed to group undertakings

356,793

371,121

Tax

22,320

4,731

Social security and other taxes

35,950

115,890

Other creditors

17,788

37,600

Invoice discounting loan

-

274,704

Accrued expenses

38,499

9,556

959,447

1,481,226

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans (see note 9)

183,334

483,334

Hire purchase contracts (see note 10)

139,448

120,038

322,782

603,372

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

183,334

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due within one year or on demand:

Bank loans

300,000

361,458

Amounts falling due between one and two years:

Bank loans - 1-2 years

183,334

300,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

183,334

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

63,675

71,906

Between one and five years

139,448

120,038

203,123

191,944

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

11,589

-

Between one and five years

4,829

-

16,418

-

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

203,123

191,944

Hire purchase contracts are secured on the assets to which they relate.

Obligations to Aldermore Bank PLC are secured by way of a debenture dated 4 December 2020 consisting of a fixed and floating charge over assets of the business.

12.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

100,900

76,258

Deferred

tax

£

Balance at 1 January 2024

76,258

Accelerated capital allowances

24,642

Balance at 31 December 2024

100,900

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,800

A

£1

1,800

1,800

200

B

£1

200

200

2,000

2,000

All classes of shares carry the same rights.

14.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 January 2024

959,314

7,439

358

967,111

Profit for the year

112,868

112,868

At 31 December 2024

1,072,182

7,439

358

1,079,979

15.	RELATED PARTY DISCLOSURES

Buxton Water Limited rented equipment totalling £120,000 (2023: £121,011) from Carlmark Limited, paid rent and electric recharges of £3,240 (2023: £14,854), charged management charges of £12,000 (2023: £13,350) to Carlmark Limited, which is a Company controlled by the directors. At the year end £356,793 was owed to Carlmark Limited and £9,400 from Carlmark Limited, both amounts shown in other creditors and other debtors.

Buxton Water Holdings Limited, the holding company owed £1,232,002 at the year end.

16.	ULTIMATE CONTROLLING PARTY