Goodwater Construction Limited

Registered number

03276605

Filleted Accounts

30 November 2025

Goodwater Construction Limited
Registered number:		03276605
Balance Sheet
as at 30 November 2025

Notes			2025			2024
£				£
Current assets
Debtors	3	1,600,276			1,600,276
Cash at bank and in hand		64,433			97,133
		1,664,709			1,697,409

Creditors: amounts falling due within one year	4	(30,268)			(30,268)

Net current assets			1,634,441			1,667,141

Net assets			1,634,441			1,667,141

Capital and reserves
Called up share capital			2			2
Profit and loss account			1,634,439			1,667,139

Shareholders' funds			1,634,441			1,667,141



The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Paddy Halligan
Director
Approved by the board on 8 April 2026

Goodwater Construction Limited
Notes to the Accounts
for the year ended 30 November 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The company adopted FRS 102 Section 1A in the current year.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Land & buildings	1% straight line (on revalued amount)
	Plant and machinery	25% straight line
	Motor Vehicles	25% straight line

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		2		2


3	Debtors		2025		2024
£				£

	Other debtors		1,600,276		1,600,276


4	Creditors: amounts falling due within one year		2025		2024
£				£

	Directors loan account		29,068		29,068
	Other creditors		1,200		1,200
			30,268		30,268


5	Events after the reporting date

	There have been no significant events affecting the company since the year end.


6	Capital Commitments

	There were no capital commitments at the year end not included in the above accounts.


7	Contingent liabilities

	As far as the directors are aware there were no contingent liabilities at the year end.


8	Related party transactions

	Galtimore Properties Limited (a company incorporated in Northern Ireland) and Halldev Limited (a company incorporated in the Republic of Ireland) are related parties of Goodwater Construction Limited, by virtue of shared directorship and common influence. The outstanding balances at the year end are as follows:
			2025		2024
£				£

	Loan due from Galtimore Properties Limited		785,660		785,660

	Loan due from Halldev Limited		814,616		814,616

	Transactions between these related parties were undertaken in the normal course of business and the outstanding balances are repayable on demand.


9	Controlling party

	The ultimate controlling parties have been identified as R Turner and P Halligan, the company's directors who hold one share each in the company.


10	Other information

	Goodwater Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
	32d Northdown Street
	London
	N1 9BP