Company Registration No. 05195610 (England and Wales)
UK Pool Lifts Ltd
Unaudited accounts
for the year ended 31 July 2023
UK Pool Lifts Ltd
Unaudited accounts
Contents
UK Pool Lifts Ltd
Company Information
for the year ended 31 July 2023
Company Number
05195610 (England and Wales)
Registered Office
5 Lawday Link
Farnham
Surrey
GU9 0BS
Accountants
Switchfoot Accounting Limited
147 Frimley Road
Camberley
Surrey
GU15 2PS
UK Pool Lifts Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
6,394
7,979
Cash at bank and in hand
73,086
113,146
Creditors: amounts falling due within one year
(55,281)
(62,924)
Net current assets
85,007
94,255
Total assets less current liabilities
91,401
102,234
Creditors: amounts falling due after more than one year
(14,485)
(22,005)
Provisions for liabilities
Deferred tax
(1,215)
(1,516)
Called up share capital
100
100
Profit and loss account
75,601
78,613
Shareholders' funds
75,701
78,713
For the year ending 31 July 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 March 2024 and were signed on its behalf by
C Dunnage
Director
Company Registration No. 05195610
UK Pool Lifts Ltd
Notes to the Accounts
for the year ended 31 July 2023
UK Pool Lifts Ltd is a private company, limited by shares, registered in England and Wales, registration number 05195610. The registered office is 5 Lawday Link, Farnham, Surrey, GU9 0BS.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Computer equipment
33.33% on cost
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
UK Pool Lifts Ltd
Notes to the Accounts
for the year ended 31 July 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2022
10,970
6,595
17,565
At 31 July 2023
12,812
6,694
19,506
At 1 August 2022
4,948
4,638
9,586
Charge for the year
2,278
1,248
3,526
At 31 July 2023
7,226
5,886
13,112
At 31 July 2023
5,586
808
6,394
At 31 July 2022
6,022
1,957
7,979
Amounts falling due within one year
Trade debtors
66,930
44,033
UK Pool Lifts Ltd
Notes to the Accounts
for the year ended 31 July 2023
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
7,340
7,160
Trade creditors
25,781
43,354
Taxes and social security
12,690
10,330
Loans from directors
256
239
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).