Sidon Water Ltd 31/12/2024 iXBRL

Company registration number: SC634652

Sidon Water Ltd

Unaudited filleted financial statements

31 December 2024

Sidon Water Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Sidon Water Ltd

Directors and other information


	Directors	Mr Richard Muir
		Mr Christopher Rose


	Company number	SC634652


	Registered office	18 North Street
		Glenrothes
		Fife
		KY7 5NA


	Accountants	Paterson Boyd & Co
		Chartered Certified Accountants
		18 North Street
		Glenrothes
		Fife
		KY7 5NA




	Bankers	HSBC
		PO Box 1888
		CV3 9WN

Sidon Water Ltd

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Sidon Water Ltd

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sidon Water Ltd for the year ended 31 December 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the board of directors of Sidon Water Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sidon Water Ltd and state those matters that we have agreed to state to the board of directors of Sidon Water Ltd as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sidon Water Ltd and its board of directors as a body for our work or for this report.

It is your duty to ensure that Sidon Water Ltd 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 Sidon Water Ltd. You consider that Sidon Water Ltd 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 Sidon Water Ltd. 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.

Paterson Boyd & Co

Chartered Certified Accountants

18 North Street

Glenrothes

Fife

KY7 5NA

10 September 2025

Sidon Water Ltd

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	10,965		16,724
		_______		_______
			10,965		16,724

Current assets
Stocks		23,576		23,086
Debtors	6	25,976		19,215
Cash at bank and in hand		25,092		696
		_______		_______
		74,644		42,997
Creditors: amounts falling due
within one year	7	( 379,303)		( 190,484)
		_______		_______
Net current liabilities			( 304,659)		( 147,487)
			_______		_______
Total assets less current liabilities			( 293,694)		( 130,763)

Creditors: amounts falling due
after more than one year	8		( 399,034)		( 566,061)
			_______		_______
Net liabilities			( 692,728)		( 696,824)
			_______		_______

Capital and reserves
Called up share capital	9		200		200
Profit and loss account			( 692,928)		( 697,024)
			_______		_______
Shareholders deficit			( 692,728)		( 696,824)
			_______		_______

For the year ending 31 December 2024 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 financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 10 September 2025 , and are signed on behalf of the board by:

Mr Christopher Rose

Director

Company registration number: SC634652

Sidon Water Ltd

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 18 North Street, Glenrothes, Fife, KY7 5NA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	5 %	straight line
Fittings fixtures and equipment	-	20 %	reducing balance
Computer equipment	-	33 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2023: 3 ).

5. Tangible assets

	Fixtures, fittings and equipment	Computer equipment	Total
	£	£	£
Cost
At 1 January 2024	5,746	24,179	29,925
Additions	480	2,693	3,173
	_______	_______	_______
At 31 December 2024	6,226	26,872	33,098
	_______	_______	_______
Depreciation
At 1 January 2024	2,725	10,476	13,201
Charge for the year	701	8,231	8,932
	_______	_______	_______
At 31 December 2024	3,426	18,707	22,133
	_______	_______	_______
Carrying amount
At 31 December 2024	2,800	8,165	10,965
	_______	_______	_______
At 31 December 2023	3,021	13,703	16,724
	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	15,040	7,881
Other debtors	10,936	11,334
	_______	_______
	25,976	19,215
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	93,054	13,887
Trade creditors	121,094	154,445
Social security and other taxes	63,837	19,555
Other creditors	101,318	2,597
	_______	_______
	379,303	190,484
	_______	_______

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	399,034	566,061
	_______	_______

Included within creditors: amounts falling due after more than one year is an amount of £ 6,895 (2023 £ 12,344 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

This is a fixed term loan with an interest rate of 2.5%.

9. Called up share capital

Issued, called up and fully paid

	2024		2023
	No	£	No	£
Ordinary shares of £ 1.00 each	200	200	200	200
	_______	_______	_______	_______

10. Related party transactions

At the balance sheet date the company was due £12,752 (2023: £1,836) from Sidon LLC in the form of a trade debtor, and £95,565 (2023: £Nil) due to Sidon LLC in the form of a loan. Sidon LLC holds shares in Sidon Water Ltd .At the balance sheet date the company was due £12,759 (2023:£12,759) to Sephara LP, a company registered in the United States of America which is owned by a director of the company. At the balance sheet date the company was due £14,281 (2023: £14,281) to Sagan Life LLC, a company registered in the United States of America which is owned by a director of the company. Included in "Other creditors" is an amount of £137,059 (2023: £247,935) due to Chris Rose from the company, and an amount of £179,374 (2023: £148,374) due to Rick Muir from the company.