REGISTERED NUMBER: 02285335 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

Goodwater Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M A King

C R P King

M Garcia

REGISTERED OFFICE:

24 Ivanhoe Road

Hogwood Lane Industrial Estate

Finchampstead

Wokingham

Berkshire

RG40 4QQ

REGISTERED NUMBER:

02285335 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Intangible assets

5

-

5,281

Property, plant and equipment

6

618,400

715,813

618,400

721,094

CURRENT ASSETS

Inventories

156,703

238,582

Debtors

7

1,217,134

1,190,411

Cash at bank

684,405

540,624

2,058,242

1,969,617

CREDITORS

Amounts falling due within one year

8

(1,600,117

)

(1,352,996

)

NET CURRENT ASSETS

458,125

616,621

TOTAL ASSETS LESS CURRENT LIABILITIES

1,076,525

1,337,715

CREDITORS

Amounts falling due after more than one year

9

(108,213

)

(119,762

)

NET ASSETS

968,312

1,217,953

CAPITAL AND RESERVES

Called up share capital

147

196

Capital redemption reserve

53

4

Retained earnings

968,112

1,217,753

SHAREHOLDERS' FUNDS

968,312

1,217,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 30 September 2025 and were signed on its behalf by:

M A King - Director

1.	STATUTORY INFORMATION

Goodwater 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue

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

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost or valuation of each asset to its estimated residual value on a straight line basis over its expected useful life, as follows:-

Long leasehold buildings - over 50 years

Improvements to property - over 5 years

Motor vehicles - over 3 to 4 years

Residual value is calculated on prices prevailing at the reporting date, after estimated costs of disposal, for the asset as if it were at the age and in the condition expected at the end of its useful life.

Impairment of fixed assets

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of net realisable value and value-in-use, are recognised as impairments. Impairment losses are recognised in the profit and loss account.

Inventories

Inventories 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2024 - 48 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

Cost

At 1 April 2024

and 31 March 2025

17,681

Amortisation

At 1 April 2024

12,400

Charge for year

5,281

At 31 March 2025

17,681

Net book value

At 31 March 2025

-

At 31 March 2024

5,281

6.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Long

to

Motor

Computer

leasehold

property

vehicles

equipment

Totals

£

£

£

£

£

Cost or valuation

At 1 April 2024

and 31 March 2025

696,021

410,629

2,500

7,941

1,117,091

Depreciation

At 1 April 2024

67,920

324,285

2,500

6,573

401,278

Charge for year

13,920

82,125

-

1,368

97,413

At 31 March 2025

81,840

406,410

2,500

7,941

498,691

Net book value

At 31 March 2025

614,181

4,219

-

-

618,400

At 31 March 2024

628,101

86,344

-

1,368

715,813

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

1,082,587

1,139,038

Other debtors

134,547

51,373

1,217,134

1,190,411

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts

15,000

15,000

Trade creditors

505,684

424,555

Taxation and social security

530,048

395,554

Other creditors

549,385

517,887

1,600,117

1,352,996

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans

108,213

119,762

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

48,213

59,762

10.	LEASING AGREEMENTS

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

31/3/25

31/3/24

£

£

Within one year

89,053

82,410

Between one and five years

96,190

61,603

185,243

144,013

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in debtors are amounts due from the directors' arising on short term advances made in the year. Interest has been charged on the advances. The total amounts due from the directors are as follows;

Mr M A King - £15,244

Mr C R P King - £23,881

Mr M Garcia - £19,068

The amounts were all settled in full after the year end on 30th May 2025.