REGISTERED NUMBER: 01531211 (England and Wales)

Financial Statements for the Year Ended 31 October 2025

for

Charleswater Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Brake

C De La Isla

D D Allen

M Hempel

REGISTERED OFFICE:

2a Dunhams Lane

Letchworth

Hertfordshire

SG6 1BE

REGISTERED NUMBER:

01531211 (England and Wales)

AUDITORS:

GH Audit Limited

Unit 1b

Focus 4

Fourth Avenue

Letchworth

Hertfordshire

SG6 2TU

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

339,936

418,573

339,936

418,573

CURRENT ASSETS

Stocks

919,946

960,439

Debtors

7

799,181

808,192

Cash at bank

1,113,995

817,077

2,833,122

2,585,708

CREDITORS

Amounts falling due within one year

8

687,464

759,181

NET CURRENT ASSETS

2,145,658

1,826,527

TOTAL ASSETS LESS CURRENT LIABILITIES

2,485,594

2,245,100

PROVISIONS FOR LIABILITIES

49,404

56,889

NET ASSETS

2,436,190

2,188,211

CAPITAL AND RESERVES

Called up share capital

9

2,000

2,000

Contribution from parent

700,000

700,000

Retained earnings

1,734,190

1,486,211

SHAREHOLDERS' FUNDS

2,436,190

2,188,211

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 25 November 2025 and were signed on its behalf by:

D D Allen - Director

1.	STATUTORY INFORMATION

Charleswater 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 financial statements are presented in sterling (GBP) which is the functional currency of the company.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned members within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Goodwill

Goodwill is being amortised over its estimated useful life of 10 years on a straight line basis.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings - 4% on cost and over period of lease

Plant and machinery etc. - At varying rates on cost

Stocks

Stocks are stated 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 stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

Loans are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised costs using the effective interest rate method less impairment. if an arrangement constitutes a financing transaction it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

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.

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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2024 - 29 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2024

and 31 October 2025

1,174,000

AMORTISATION

At 1 November 2024

and 31 October 2025

1,174,000

NET BOOK VALUE

At 31 October 2025

-

At 31 October 2024

-

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 November 2024

569,470

483,317

1,052,787

Additions

-

1,155

1,155

At 31 October 2025

569,470

484,472

1,053,942

DEPRECIATION

At 1 November 2024

420,066

214,148

634,214

Charge for year

34,403

45,389

79,792

At 31 October 2025

454,469

259,537

714,006

NET BOOK VALUE

At 31 October 2025

115,001

224,935

339,936

At 31 October 2024

149,404

269,169

418,573

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/25

31/10/24

£

£

Trade debtors

738,329

751,657

Amounts owed by group undertakings

14,142

11,710

Other debtors

46,710

44,825

799,181

808,192

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/25

31/10/24

£

£

Trade creditors

81,861

50,956

Amounts owed to group undertakings

249,811

321,308

Taxation and social security

150,656

177,238

Other creditors

205,136

209,679

687,464

759,181

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/25

31/10/24

value:

£

£

2,000

Ordinary

£1

2,000

2,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Williams ACA (Senior Statutory Auditor)

for and on behalf of GH Audit Limited

11.	PARENT UNDERTAKING

The parent undertaking and ultimate parent of the group for which this company is included in consolidated financial statements is Desco Industries Inc. a company incorporated in the United States of America. The address of the parent company is 3651 Walnut Avenue, Chino CA 91710.