Silverfin false 30/11/2021 30/11/2021 01/12/2020 Mrs K M Sanderson 03/06/2016 Mr N T Sanderson 03/06/2016 16 August 2022 The principal activity of the company during the financial year was retail of swimming pools and accessories. 10213151 2021-11-30 10213151 bus:Director1 2021-11-30 10213151 bus:Director2 2021-11-30 10213151 2020-11-30 10213151 core:CurrentFinancialInstruments 2021-11-30 10213151 core:CurrentFinancialInstruments 2020-11-30 10213151 core:Non-currentFinancialInstruments 2021-11-30 10213151 core:Non-currentFinancialInstruments 2020-11-30 10213151 core:ShareCapital 2021-11-30 10213151 core:ShareCapital 2020-11-30 10213151 core:RetainedEarningsAccumulatedLosses 2021-11-30 10213151 core:RetainedEarningsAccumulatedLosses 2020-11-30 10213151 core:PatentsTrademarksLicencesConcessionsSimilar 2020-11-30 10213151 core:PatentsTrademarksLicencesConcessionsSimilar 2021-11-30 10213151 core:LandBuildings 2020-11-30 10213151 core:FurnitureFittings 2020-11-30 10213151 core:LandBuildings 2021-11-30 10213151 core:FurnitureFittings 2021-11-30 10213151 bus:OrdinaryShareClass1 2021-11-30 10213151 2020-12-01 2021-11-30 10213151 bus:FullAccounts 2020-12-01 2021-11-30 10213151 bus:SmallEntities 2020-12-01 2021-11-30 10213151 bus:AuditExemptWithAccountantsReport 2020-12-01 2021-11-30 10213151 bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 10213151 bus:Director1 2020-12-01 2021-11-30 10213151 bus:Director2 2020-12-01 2021-11-30 10213151 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2020-12-01 2021-11-30 10213151 core:LandBuildings core:TopRangeValue 2020-12-01 2021-11-30 10213151 core:FurnitureFittings core:TopRangeValue 2020-12-01 2021-11-30 10213151 2019-12-01 2020-11-30 10213151 core:PatentsTrademarksLicencesConcessionsSimilar 2020-12-01 2021-11-30 10213151 core:LandBuildings 2020-12-01 2021-11-30 10213151 core:FurnitureFittings 2020-12-01 2021-11-30 10213151 core:Non-currentFinancialInstruments 2020-12-01 2021-11-30 10213151 bus:OrdinaryShareClass1 2020-12-01 2021-11-30 10213151 bus:OrdinaryShareClass1 2019-12-01 2020-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10213151 (England and Wales)

123 POOLS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2021
Pages for filing with the registrar

123 POOLS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2021

Contents

123 POOLS LIMITED

COMPANY INFORMATION

For the financial year ended 30 November 2021
123 POOLS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2021
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
123 POOLS LIMITED

BALANCE SHEET

As at 30 November 2021
123 POOLS LIMITED

BALANCE SHEET (continued)

As at 30 November 2021
Note 2021 2020
£ £
Fixed assets
Intangible assets 3 95 112
Tangible assets 4 162,785 163,921
162,880 164,033
Current assets
Stocks 5 267,345 52,000
Debtors 6 24,643 2,362
Cash at bank and in hand 7,260 218,117
299,248 272,479
Creditors
Amounts falling due within one year 7 ( 74,919) ( 132,581)
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 ( 105,271) ( 105,889)
Provisions for liabilities ( 1,260) ( 856)
Net assets 280,678 197,186
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 280,578 197,086
Total shareholders' funds 280,678 197,186

For the financial year ending 30 November 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of 123 Pools Limited (registered number: 10213151) were approved and authorised for issue by the Board of Directors on 16 August 2022. They were signed on its behalf by:

Mrs K M Sanderson
Director
Mr N T Sanderson
Director
123 POOLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2021
123 POOLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2021
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
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.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

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 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line/reducing balance] basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Fixtures and fittings 3 years straight line

Included in Fixtures and fittings are some assets which are depreciated at 25% reducing balance basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

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.

Government grants

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.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 December 2020 170 170
At 30 November 2021 170 170
Accumulated amortisation
At 01 December 2020 58 58
Charge for the financial year 17 17
At 30 November 2021 75 75
Net book value
At 30 November 2021 95 95
At 30 November 2020 112 112

4. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 December 2020 163,431 9,140 172,571
Additions 0 2,008 2,008
At 30 November 2021 163,431 11,148 174,579
Accumulated depreciation
At 01 December 2020 4,015 4,635 8,650
Charge for the financial year 1,669 1,475 3,144
At 30 November 2021 5,684 6,110 11,794
Net book value
At 30 November 2021 157,747 5,038 162,785
At 30 November 2020 159,416 4,505 163,921

Included within the net book value of land and buildings above is £157,747 (2020 - £159,416) in respect of freehold land and buildings.

5. Stocks

2021 2020
£ £
Stocks 267,345 52,000

6. Debtors

2021 2020
£ £
Trade debtors 4,031 1,582
Other debtors 20,612 780
24,643 2,362

7. Creditors: amounts falling due within one year

2021 2020
£ £
Bank loans 4,491 8,552
Other creditors 49,316 77,563
Corporation tax 20,860 37,385
Other taxation and social security 252 9,081
74,919 132,581

8. Creditors: amounts falling due after more than one year

2021 2020
£ £
Bank loans (secured) 105,271 105,889

Bank borrowings are secured on property owned by the company.

9. Called-up share capital

2021 2020
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100