Company Registration No. 07459778 (England and Wales)
SPRINGS AQUATIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SPRINGS AQUATIC LIMITED
COMPANY INFORMATION
Director
Mr Daniel Brain
Company number
07459778
Registered office
49 Monks Way
Eastleigh
Hampshire
SO50 5BE
Accountants
Knight Goodhead Limited
7 Bournemouth Road
Chandler's Ford
Eastleigh
Hampshire
SO53 3DA
SPRINGS AQUATIC LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
3,844
Current assets
Stocks
600
4,540
Debtors
4
2,221
908
Cash at bank and in hand
-
0
8,777
2,821
14,225
Creditors: amounts falling due within one year
5
(2,820)
(16,087)
Net current assets/(liabilities)
1
(1,862)
Total assets less current liabilities
1
1,982
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
-
0
1,981
Total equity
1
1,982

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

SPRINGS AQUATIC LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
2
The financial statements were approved and signed by the director and authorised for issue on 11 March 2024
Mr Daniel Brain
Director
Company Registration No. 07459778
SPRINGS AQUATIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
3
1
Accounting policies
Company information

Springs Aquatic Limited is a private company limited by shares incorporated in England and Wales. The registered office is 49 Monks Way, Eastleigh, Hampshire, SO50 5BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The director intends to close the business within 12 months of the date of approval of these accounts. The accounts have, however, been prepared on a going concern basis as the impact of applying an alternative basis is not material.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
20% straight line
Computer equipment
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

SPRINGS AQUATIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies (Continued)
4
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
3
SPRINGS AQUATIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
5
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
11,548
Disposals
(11,548)
At 31 December 2023
-
0
Depreciation and impairment
At 1 January 2023
7,704
Depreciation charged in the year
182
Eliminated in respect of disposals
(7,886)
At 31 December 2023
-
0
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
3,844
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2,221
908
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
950
3,032
Other creditors
1,870
13,055
2,820
16,087

 

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