Company No:
Contents
DIRECTORS | Mrs K M Sanderson |
Mr N T Sanderson |
REGISTERED OFFICE | Bexley Garage |
2 Bexley Lane | |
Torquay | |
TQ2 5BB | |
United Kingdom |
COMPANY NUMBER | 10213151 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Sigma House | |
Oak View Close | |
Edginswell Park | |
Torquay | |
Devon TQ2 7FF |
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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162,880 | 164,033 | |||
Current assets | ||||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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299,248 | 272,479 | |||
Creditors | ||||
Amounts falling due within one year | 7 | (
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Net current assets | 224,329 | 139,898 | ||
Total assets less current liabilities | 387,209 | 303,931 | ||
Creditors | ||||
Amounts falling due after more than one year | 8 | (
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Provisions for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 9 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of 123 Pools Limited (registered number:
Mrs K M Sanderson
Director |
Mr N T Sanderson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
123 Pools Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bexley Garage, 2 Bexley Lane, Torquay, Devon, TQ2 5BB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:
Trademarks, patents and licences |
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Land and buildings |
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Fixtures and fittings |
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Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Trademarks, patents and licences |
Total | ||
£ | £ | ||
Cost | |||
At 01 December 2020 |
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At 30 November 2021 |
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Accumulated amortisation | |||
At 01 December 2020 |
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Charge for the financial year |
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At 30 November 2021 |
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Net book value | |||
At 30 November 2021 |
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At 30 November 2020 |
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Land and buildings | Fixtures and fittings | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 December 2020 |
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Additions |
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At 30 November 2021 |
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Accumulated depreciation | |||||
At 01 December 2020 |
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Charge for the financial year |
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At 30 November 2021 |
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Net book value | |||||
At 30 November 2021 |
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At 30 November 2020 |
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2021 | 2020 | ||
£ | £ | ||
Stocks |
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2021 | 2020 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2021 | 2020 | ||
£ | £ | ||
Bank loans |
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Other creditors |
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Corporation tax |
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Other taxation and social security |
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2021 | 2020 | ||
£ | £ | ||
Bank loans (secured) |
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2021 | 2020 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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