Open Water Development Ltd.

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 06571756

		31 October 2025		30 April 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		151,293		146,356

			151,293		146,356
CURRENT ASSETS
Debtors	6	423,638		354,114
Cash at bank and in hand		4,509		28,631

		428,147		382,745
Creditors: Amounts Falling Due Within One Year	7	(560,585 )		(332,116 )

NET CURRENT ASSETS (LIABILITIES)			(132,438 )		50,629

TOTAL ASSETS LESS CURRENT LIABILITIES			18,855		196,985

Creditors: Amounts Falling Due After More Than One Year	8		-		(11,734 )

NET ASSETS			18,855		185,251

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			18,853		185,249

SHAREHOLDERS' FUNDS			18,855		185,251

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Open Water Development Ltd.

Balance Sheet (continued)

As At 31 October 2025

For the period ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

B Shoshan

Director

31/07/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Open Water Development Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 06571756 . The registered office is Icentre Mpa, Np-105, Icentre, Howard Way, Newport Pagnell, MK16 9PY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	25% Reducing Balance
Plant & Machinery	25% Reducing Balance

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Open Water Development Ltd.

Notes to the Financial Statements (continued)

For the Period 1 May 2024 to 31 October 2025

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 12 (2024: 9)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 May 2024	9,000

As at 31 October 2025	9,000

Amortisation
As at 1 May 2024	9,000

As at 31 October 2025	9,000

Net Book Value
As at 31 October 2025	-

As at 1 May 2024	-

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 May 2024	110,000	167,183	277,183
Additions	7,750	15,368	23,118
Disposals	-	(1,366 )	(1,366 )

As at 31 October 2025	117,750	181,185	298,935

Depreciation
As at 1 May 2024	-	130,827	130,827
Provided during the period	1,776	16,405	18,181
Disposals	-	(1,366 )	(1,366 )

As at 31 October 2025	1,776	145,866	147,642

Net Book Value
As at 31 October 2025	115,974	35,319	151,293

As at 1 May 2024	110,000	36,356	146,356

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Open Water Development Ltd.

Notes to the Financial Statements (continued)

For the Period 1 May 2024 to 31 October 2025

6. Debtors

	31 October 2025	30 April 2024
	£	£
Due within one year
Trade debtors	137,386	104,933
Prepayments and accrued income	18,709	240,751
Other debtors	12,618	-
Corporation tax recoverable assets	22,322	-
VAT	10,125	8,430
Directors' loan accounts	222,478	-

	423,638	354,114

7. Creditors: Amounts Falling Due Within One Year

	31 October 2025	30 April 2024
	£	£
Trade creditors	51,329	88,710
Bank loans and overdrafts	7,008	10,648
Corporation tax	-	54,535
Other taxes and social security	246,801	34,386
Other creditors	49,816	49,769
Accruals and deferred income	205,631	94,068

	560,585	332,116

8. Creditors: Amounts Falling Due After More Than One Year

	31 October 2025	30 April 2024
	£	£
Bank loans	-	11,734

9. Share Capital

	31 October 2025	30 April 2024
	£	£
Allotted, Called up and fully paid	2	2

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 May 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 October 2025
	£	£	£	£	£
Mr Benjamin Shoshan	-	222,478	-	-	222,478

The above loan is unsecured, interest charged at 3.75% and repayable on demand.

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