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Registered number:
FOR THE YEAR ENDED 31 MARCH 2025
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BLACKWATER PARTNERS LIMITED
COMPANY INFORMATION
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BLACKWATER PARTNERS LIMITED
CONTENTS
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BLACKWATER PARTNERS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Blackwater Partners Limited is the non-trading parent company of four wholly owned trading subsidiaries, Seymour House Limited, L3 Property Limited, L3 Leisure Limited and Nursery Kitchen Limited. Seymour House Limited’s principal activity is the provision of childcare through a chain of nursery schools. The principal activity of L3 Property Limited is residential and commercial lettings. The principal activity of L3 Leisure Limited is that of a public house. The principal activity of Nursery Kitchen Limited is that of the preparation and delivery of meals to nursery schools.
The directors are pleased with the Group’s performance. Consistently high occupancy levels across both subsidiaries have ensured healthy levels of revenue and profit for the period. Early trading by L3 Leisure Ltd is also encouraging.
The Group is in a strong position as at the end of the financial period.
Financial Risk
Cash flow risk is managed internally by the Group’s finance function and the Group has been stress tested and it has been deemed that there is no significant exposure to interest rate risk. Business Risk The Group is committed to providing and maintaining safe and healthy environments. Health and Safety risk is primarily managed by the Group’s Health and Safety Officer. One of the Group’s subsidiaries is registered with and approved by the Office for Standards in Education under the Children’s Act 2004. That company regularly reviews and updates its policies and procedures to ensure compliance with the standards set by this body.
Occupancy rates are tracked as a key performance indicator as they give a clear indication of both the level of demand for the service provided by the Group and the degree to which the level of service is valued by the current customer base.
Ofsted inspection ratings provide a good indication of the performance of Seymour House Limited. Ofsted ratings have a direct impact on demand for the service provided.
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BLACKWATER PARTNERS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Under section 172 of the Companies Act 2006, the directors of the Group have a legal responsibility to act in the way we consider would be most likely to promote the Group’s success for the benefit of its members, and to have regard to the long-term effect of our decisions on the Group and its stakeholders. In doing so, the directors must have regard to the following:
- The likely consequences of any decision in the long term; - The interests of the Group’s employees; - The need to foster relationships with parents, children, nursery partners, suppliers, and the wider community; - The impact of the Group’s operations on the community and the environment; - The desirability of the Group maintaining a reputation for high standards of care, safety, and quality; and - The need to act fairly between members of the Group. Children, parents, and nursery partners The wellbeing, safety, and development of the children in our care, and in the care of our nursery partners, is at the heart of everything we do. We engage with stakeholders regularly through meetings, progress reports, and regular communications to ensure all needs and expectations are met. Feedback is actively sought and used to improve our services. Staff and employment policy Our staff are crucial to the success of the nursery. We provide fair and equal opportunities in recruitment, promotion, and professional development, without discrimination on the basis of age, gender, religion, disability, or background. We provide training and support to ensure all staff have the skills to deliver high quality childcare and early years education. Suppliers and partners We strive to maintain honest, transparent, and mutually beneficial relationships with suppliers of educational materials, food, and other nursery resources. Community and environment We are committed to minimising our environmental impact by managing energy use efficiently, reducing waste, and promoting sustainability where possible. We actively participate in local community initiatives and encourage children to learn about caring for their environment. Standards of business conduct The Group operates in full compliance with all relevant regulations and laws, including safeguarding and health and safety standards. Our policies and procedures ensure ethical and legal obligations are met at all times, and all staff are required to adhere to these standards.
This report was approved by the board on 9 December 2025 and signed on its behalf.
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BLACKWATER PARTNERS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £2,077,378 (2024 - £1,255,767).
During the year the directors declared a dividend of £692,600 (2024 - £234,817).
The directors who served during the year were:
The Group will continue to seek and explore new opportunities as they arise.
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BLACKWATER PARTNERS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Directors have actively engaged with those organisations to provide feedback on changes to working practices and have been proactive in contributing to continuous improvement of welfare to our staff.
The engagement with employees will continue on an ongoing basis, to review risks and changes that may be required.
The Company’s total energy consumption in the United Kingdom for the year ended 31 March 2025 was 1,705,717 kWh, including electricity, gas, and transport fuel. The associated greenhouse gas emissions (Scope 1 and Scope 2) were 364,177 kg CO2e (~364 tonnes CO2e).
The Company’s energy consumption figures were estimated using a cost-based methodology:
Energy costs collected: Total energy expenditure for electricity, gas, and transport fuel was obtained from supplier invoices. Average unit cost calculated: An average cost per kWh for each energy source was derived from invoices and tariffs. Energy consumption estimated: Total costs for each energy source were divided by the average cost per kWh. CO2e emissions calculated: The estimated kWh values were converted into greenhouse gas emissions using UK Government 2023/24 conversion factors: Electricity: 0.233 kg CO2e/kWh Gas: 0.184 kg CO2e/kWh Transport fuel: 0.231 kg CO2e/kWh
CO2e per employee equates to the following: 968 kg CO2e/employee
After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.
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BLACKWATER PARTNERS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
This report was approved by the board on
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BLACKWATER PARTNERS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BLACKWATER PARTNERS LIMITED
We have audited the financial statements of Blackwater Partners Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2025, which comprise the Group Statement of income and retained earnings, the Group and Company Balance sheets, the Group Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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BLACKWATER PARTNERS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BLACKWATER PARTNERS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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BLACKWATER PARTNERS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BLACKWATER PARTNERS LIMITED (CONTINUED)
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BLACKWATER PARTNERS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BLACKWATER PARTNERS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the relevant sector; We focused on specific laws and regulations, which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and ISO standards; We assessed the extent of compliance with laws and regulations identified above through making enquires of management and inspecting legal correspondence and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: Making enquires of management as to where they considered there was susceptibility to fraud, their knowledge of actual suspected and alleged fraud; and Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: Performed analytical procedures to identify and unusual or unexpected relationships; Tested journal entries to identify unusual transactions; Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and Investigated the rationale behind significant or unusual transactions.
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BLACKWATER PARTNERS LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BLACKWATER PARTNERS LIMITED (CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial statements, the less likely it is that we would become aware of non- compliance. Auditing standards also limit the audit procedures to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect that those that arise from errors as theymay involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
Leytonstone House
3 Hanbury Drive
London
E11 1GA
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BLACKWATER PARTNERS LIMITED
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025
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BLACKWATER PARTNERS LIMITED
REGISTERED NUMBER: 08487496
CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2025
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BLACKWATER PARTNERS LIMITED
REGISTERED NUMBER: 08487496
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 December 2025.
The notes on pages 18 to 36 form part of these financial statements.
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BLACKWATER PARTNERS LIMITED
REGISTERED NUMBER: 08487496
COMPANY BALANCE SHEET
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 18 to 36 form part of these financial statements.
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BLACKWATER PARTNERS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
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BLACKWATER PARTNERS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
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BLACKWATER PARTNERS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2025
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Blackwater Partners Limited (the "Company") is a company limited by shares, incorporated in England and Wales. Its registered office is Seymour House, 140 Broomfield Road, Chelmsford, Essex, CM1 1RN.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 April 2014.
FRS 102 section 1.12 allows a qualifying entity certain disclosure exemptions, subject to certain conditions, which have been complied with, including notification of, and there being no objection to, the use of exemptions by the Company’s shareholders.
The Company has taken advantage of the following exemption: (i) From preparing a statement of cash flows, on the basis that it is a qualifying entity and the consolidated statement of cash flows, included in these financial statements, includes the Company’s cash flows.
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The director has considered the ability of the Group to continue as a Going Concern. In making his assessment the director had prepared and critically reviewed the Group's cash flow forecast for the next 12 months and ensured that this forecast is modelled on a suitably cautious basis.
Based on these assessments the directors have concluded that the Group has adequate resources to continue in existence for the forseeable future as a Going Concern and accordingly these financial statements have been prepared on that basis. The main revenue stream of this company is from childcare through a chain of nursery schools. Revenue for this service is derived from two sources 1) directly charging the parents per child for attendance on an hourly basis and 2) Free Entitlement to Nursery Education (previously Nursery Education Grant) from the Council (where certain criteria are met) paid directly to the company. Parents are invoiced monthly in advance based on future anticipated attendance by the child. Income paid in advance of the service provided is deferred and released once the revenue recognition criteria are met. Certain children are entitled to a Free Entitlement to Nursery Education grant based on pre-determined Government criteria. This income is accounted for in the period to which it relates. Included in Group turnover is £3,488,025 (2024 - £1,571,977) representing Free Entitlement to Nursery Education. The company also receives bank interest, which is accounted for when received. L3 Property Limited This company receives rental income from assets leased under operating leases and this is charged to the statement of comprehensive income on a straight line basis over the lease term. Nursery Kitchen Limited This company receives income from the provision of nursery food and cleaning services. Revenue arising from these services is recognised in the period the services were provided. The company invoices their customers on a monthly basis therefore no accrued income or deferred income exist. L3 Leisure Limited This company receives income from the provision of public house services. Revenue arising from these services is recognised in the period the services were provided.
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
The Group and Company discloses transactions with related parties which are not wholly within the same group. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the director, separate disclosure is necessary to understand the effect of the transaction on the Group financial statements.
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed five years. Intangible assets that are not yet brought into use are not amortised. The Directors will assess the useful economic life of such intangibles when they are brought into use. Acquired goodwill is capitalised and amortised over its useful economic life, currently 10 years. The Directors would consider the useful economic life for any future additions based on their knowledge and experience of the sector and with due regard to prevailing accounting standards. All goodwill is reviewed for impairment at the end of its first full financial year following acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable
The Group adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Group. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
The freehold and long term leasehold properties are maintained to a high standard and are used in the principal activities of the Group. As such no depreciation is charged on the properties. This treatment is contrary to the Companies Act 2006 which states fixed assets should be depreciated but is, in the director’s opinion, necessary in order to give a true and fair view of the financial position of the group. Certain tangible fixed assets comprise investment properties and are included in the balance sheet at their open market value and are not depreciated as they are maintained to a high standard and are used in the principal activities of the Group. This treatment is contrary to the Companies Act 2006 which states fixed assets should be depreciated but is, in the director’s opinion, necessary in order to give a true and fair view of the financial position of the Group. Investment properties are assessed annually by the director for signs of impairment. Any impairment is recognised in the statement of comprehensive income.
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as mentioned below.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated statement of income and retained earnings. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Critical judgments in applying the entity's accounting policies No critical accounting judgments have had to be made by management in preparing these financial statements. Critical accounting estimates and assumptions (i) Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in estimated useful economic lives. The policy for depreciating assets is reviewed on an annual basis. Carrying values will be amended where necessary to reflect current estimates. See note 15 for the carrying value of property, plant and equipment and note 2.16 for the depreciation policy for each class of assets. It is the opinion of the director that freehold and leasehold properties should not be depreciated. The properties are instead held at their open market value at the balance sheet date. The properties are maintained at a high standard and used in the principal activites of the Group. Impairment reviews on the properties are carried out on an annual basis, with any impairments recognised in the proift or loss. (ii) Useful economic lives of intangible assets Goodwill recognised is the difference between the amounts paid on the acquisition of a business and the fair value of identifiable assets and liabilities. The annual amortisation charge is sensitive to the estimated useful economic life of the goodwill. Goodwill is reviewed by the director on an annual basis and any impairments recognised in the profit or loss. See note 14 for the carrying value of goodwill, and note 2.15 for the estimated economic life.
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 27
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 28
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 29
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11.Taxation (continued)
There were no factors that may affect future tax charges.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements. The profit after tax of the parent Company for the year was £
Page 30
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 31
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 32
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 33
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 34
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
23.Deferred taxation (continued)
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BLACKWATER PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Other reserves
Profit and loss account
The Company has entered into a cross guarantee debenture with its subsidiaries in respect of bank borrowings. The potential liability at the balance sheet date is £5,456,962 (2024 - £5,205,082).
The Group makes contributions to the personal pension plans of certain employees. The pension cost charge represents contributions payable by the Group and amounted to £154,284 (2024 - £134,271). Contributions totaling £31,531 (2024 - £28,596) were payable to the fund at the balance sheet date and are included in other creditors.
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