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ve2023-12-31
REGISTERED NUMBER: 05956913 (England and Wales)









STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COMPLETE POOL CONTROLS LIMITED

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Profit and Loss Account 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


COMPLETE POOL CONTROLS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: M C Ramsden
A D M Page
C Mayer-Klenk





REGISTERED OFFICE: 7 Rockfield Business Park
Old Station Drive
Leckhampton
Cheltenham
GL53 0AN





REGISTERED NUMBER: 05956913 (England and Wales)





AUDITORS: Kingscott Dix (Cheltenham) Limited
Statutory Auditor
Chartered Accountants
7 Rockfield Business Park
Old Station Drive
Leckhampton
Cheltenham
GL53 0AN

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

STRATEGIC REPORT
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
The company sells water treatment, dosing and testing solutions across the UK.

The company achieved a pre-tax profit of £856,726 compared with £1,277,835 in the previous year. At 31 December 2023 shareholders funds were £7.0m compared with £6.6m last year.

PRINCIPAL RISKS AND UNCERTAINTIES
Principal risks and uncertainties facing the company include: the general difficult trading conditions the economy presents; cost of living increases; and uncertainty as to exchange rate variations which affects the acquisition price of some of the company's purchases.

The company has a robust system of policies and procedures to ensure risks are recognised and mitigated. The directors monitor key risks on a regular basis and consider the company has limited exposure to price risk, credit risk, liquidity risk and cash flow risk.

DEVELOPMENT OF THE BUSINESS
Business revenues came in at and or around expectations (Budget).

The company set out a goal to clear overvalued stock bought at the end of the pandemic when container costs peaked and to convert this excess stock to cash reserves.

This objective was achieved but at the expense of margins, however it enabled the business to repurchase at more realistic prevailing costs in 2024.

The wet leisure industry shows sign of pick-up, although improved weather will enhance these dynamics.

We thank our business partners and employees for their continued support and loyalty and look forward to the challenges of 2024 with growing optimism.

KEY PERFORMANCE INDICATORS
Key performance indicators that are focused on by management include turnover and growth rate, direct costs and gross profit margin, overheads costs, and stock holding levels. Each of these are reviewed regularly by management against the budget and prior periods. The directors are pleased with the performance of the company during the year with regard to these indicators.

ON BEHALF OF THE BOARD:





M C Ramsden - Director


30 April 2024

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

REPORT OF THE DIRECTORS
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity in the year under review remains unchanged, namely the wholesale of recreational water chemicals and related dosing equipment.

DIVIDENDS
The total distribution of dividends for the year ended 31 December 2023 will be £ 186,108 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

M C Ramsden
A D M Page
C Mayer-Klenk

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Kingscott Dix (Cheltenham) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M C Ramsden - Director


30 April 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COMPLETE POOL CONTROLS LIMITED

Opinion
We have audited the financial statements of Complete Pool Controls Limited (the 'company') for the year ended 31 December 2023 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COMPLETE POOL CONTROLS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from: our commercial and sector experience; our accountancy and tax knowledge; inspection of the Company's relevant correspondence; a review of Companies House filings; and discussions with the Directors. We discussed laws and regulations throughout our team and remained alert to any indication of non-compliance throughout the audit. The potential effect of the law and regulations on the financial statements varies considerably.

Firstly, the Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation, distributable profits legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the Company is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts disclosed in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: chemical storage and handling, health and safety, and employment laws and regulations, recognising the nature of the Company's activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiries of management, and inspection of regulatory and legal correspondence, if any. These limited procedures did not identify actual or suspected non-compliance.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. As with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
COMPLETE POOL CONTROLS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Gwyneth Milner (Senior Statutory Auditor)
for and on behalf of Kingscott Dix (Cheltenham) Limited
Statutory Auditor
Chartered Accountants
7 Rockfield Business Park
Old Station Drive
Leckhampton
Cheltenham
GL53 0AN

30 April 2024

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

PROFIT AND LOSS ACCOUNT
for the Year Ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 3 10,734,055 10,871,829

Cost of sales (8,521,395 ) (8,142,238 )
GROSS PROFIT 2,212,660 2,729,591

Administrative expenses (1,398,149 ) (1,452,282 )
OPERATING PROFIT 6 814,511 1,277,309

Interest receivable and similar income 42,215 2,526
856,726 1,279,835

Interest payable and similar expenses 7 - (2,000 )
PROFIT BEFORE TAXATION 856,726 1,277,835

Tax on profit 8 (213,092 ) (244,656 )
PROFIT FOR THE FINANCIAL YEAR 643,634 1,033,179

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

OTHER COMPREHENSIVE INCOME
for the Year Ended 31 December 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 643,634 1,033,179


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

643,634

1,033,179

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 10 3,422 5,136
Tangible assets 11 198,756 205,125
Investments 12 20,992 20,992
223,170 231,253

CURRENT ASSETS
Stocks 13 2,957,680 4,484,616
Debtors 14 1,361,082 1,555,657
Cash at bank 3,673,858 1,789,732
7,992,620 7,830,005
CREDITORS
Amounts falling due within one year 15 (1,202,601 ) (1,422,401 )
NET CURRENT ASSETS 6,790,019 6,407,604
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,013,189

6,638,857

PROVISIONS FOR LIABILITIES 18 (17,810 ) (20,100 )
NET ASSETS 6,995,379 6,618,757

CAPITAL AND RESERVES
Called up share capital 19 189,906 191,006
Capital redemption reserve 20 68,294 67,194
Retained earnings 20 6,737,179 6,360,557
SHAREHOLDERS' FUNDS 6,995,379 6,618,757

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2024 and were signed on its behalf by:





M C Ramsden - Director


COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 31 December 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 January 2022 191,556 5,613,494 66,644 5,871,694

Changes in equity
Share buy back (550 ) (34,779 ) 550 (34,779 )
Dividends - (251,337 ) - (251,337 )
Total comprehensive income - 1,033,179 - 1,033,179
Balance at 31 December 2022 191,006 6,360,557 67,194 6,618,757

Changes in equity
Share buy back (1,100 ) (80,904 ) 1,100 (80,904 )
Dividends - (186,108 ) - (186,108 )
Total comprehensive income - 643,634 - 643,634
Balance at 31 December 2023 189,906 6,737,179 68,294 6,995,379

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

CASH FLOW STATEMENT
for the Year Ended 31 December 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,508,255 100,569
Interest paid - (2,000 )
Tax paid (240,795 ) (385,094 )
Net cash from operating activities 2,267,460 (286,525 )

Cash flows from investing activities
Purchase of intangible fixed assets - (4,241 )
Purchase of tangible fixed assets (94,283 ) (40,136 )
Sale of tangible fixed assets 7,500 1
Interest received 42,215 2,526
Net cash from investing activities (44,568 ) (41,850 )

Cash flows from financing activities
Amount introduced by directors 23,749 95,503
Amount withdrawn by directors (95,503 ) (126,427 )
Share buy back (80,904 ) (34,779 )
Equity dividends paid (186,108 ) (251,337 )
Net cash from financing activities (338,766 ) (317,040 )

Increase/(decrease) in cash and cash equivalents 1,884,126 (645,415 )
Cash and cash equivalents at beginning of
year

2

1,789,732

2,435,147

Cash and cash equivalents at end of year 2 3,673,858 1,789,732

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

NOTES TO THE CASH FLOW STATEMENT
for the Year Ended 31 December 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 856,726 1,277,835
Depreciation charges 101,851 87,126
Profit on disposal of fixed assets (6,985 ) -
Finance costs - 2,000
Finance income (42,215 ) (2,526 )
909,377 1,364,435
Decrease/(increase) in stocks 1,526,936 (1,103,621 )
Decrease/(increase) in trade and other debtors 194,575 (34,590 )
Decrease in trade and other creditors (122,633 ) (125,655 )
Cash generated from operations 2,508,255 100,569

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 3,673,858 1,789,732
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 1,789,732 2,435,147


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank 1,789,732 1,884,126 3,673,858
1,789,732 1,884,126 3,673,858
Total 1,789,732 1,884,126 3,673,858

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Complete Pool Controls Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The following significant judgements and estimations have been used in the preparation of the the financial statements: provision against slow moving and obsolete stock; provision against potentially unrecoverable trade debtor balances; and estimation of the useful life of fixed assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised on the sale of goods when they are delivered to customers.

Intangible assets
Intangible assets are initially measured at cost. Amortisation is provided at the following annual rate in order to write off the asset over its estimated useful life.

Trade Marks - 25% on cost

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making allowance for obsolete and slow moving stock. Cost is recognised as direct purchase cost plus absorption of a fair proportion of direct labour and overhead cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are reported as part of the profit and loss account for the year.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2023 2022
£    £   
Chemicals 10,242,344 10,250,136
Equipment 236,201 256,713
Spares and other sales 255,510 364,980
10,734,055 10,871,829

An analysis of turnover by geographical market is given below:

2023 2022
£    £   
United Kingdom 10,601,924 10,693,236
Europe 132,131 178,593
10,734,055 10,871,829

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 1,452,256 1,512,548
Social security costs 120,625 136,533
Other pension costs 31,291 33,233
1,604,172 1,682,314

The average number of employees during the year was as follows:
2023 2022

Directors 2 2
Distribution and administration 7 5
Production and warehouse 33 43
42 50

5. DIRECTORS' EMOLUMENTS
2023 2022
£    £   
Directors' remuneration 150,285 159,176

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

The directors are considered to be the key management personnel of the business.

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 100,137 85,621
Profit on disposal of fixed assets (6,985 ) -
Trade marks amortisation 1,714 1,505
Auditor's remuneration - audit 10,000 10,000
Auditor's remuneration - other services 2,750 2,500

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest - 2,000

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 212,742 250,806
Over provision in prior years 2,640 -
Total current tax 215,382 250,806

Deferred tax (2,290 ) (6,150 )
Tax on profit 213,092 244,656

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 856,726 1,277,835
Profit multiplied by the standard rate of corporation tax in the UK of
23.520% (2022 - 19%)

201,502

242,789

Effects of:
Expenses not deductible for tax purposes 2,587 2,352
Adjustments to tax charge in respect of previous periods 2,640 -
Other items 6,363 (485 )
Total tax charge 213,092 244,656

The company incurred UK corporation tax at 25% from 1 April 2023.

9. DIVIDENDS
2023 2022
£    £   
Ordinary Shares shares of £1 each
Final 186,108 251,337

Dividends were paid to the directors of £131,814 (2022 - £203,790). Dividends were paid to a company controlled by a director of £54,147 (2022 - £46,412).

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

10. INTANGIBLE FIXED ASSETS
Trade
marks
£   
COST
At 1 January 2023
and 31 December 2023 28,390
AMORTISATION
At 1 January 2023 23,254
Amortisation for year 1,714
At 31 December 2023 24,968
NET BOOK VALUE
At 31 December 2023 3,422
At 31 December 2022 5,136

11. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2023 168,226 108,265 78,597
Additions - 10,914 2,102
Disposals - - -
At 31 December 2023 168,226 119,179 80,699
DEPRECIATION
At 1 January 2023 138,884 58,938 54,568
Charge for year 4,192 15,577 10,174
Eliminated on disposal - - -
At 31 December 2023 143,076 74,515 64,742
NET BOOK VALUE
At 31 December 2023 25,150 44,664 15,957
At 31 December 2022 29,342 49,327 24,029

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

11. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 248,824 56,074 659,986
Additions 56,354 24,913 94,283
Disposals (54,869 ) - (54,869 )
At 31 December 2023 250,309 80,987 699,400
DEPRECIATION
At 1 January 2023 161,860 40,611 454,861
Charge for year 53,133 17,061 100,137
Eliminated on disposal (54,354 ) - (54,354 )
At 31 December 2023 160,639 57,672 500,644
NET BOOK VALUE
At 31 December 2023 89,670 23,315 198,756
At 31 December 2022 86,964 15,463 205,125

12. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 20,992
NET BOOK VALUE
At 31 December 2023 20,992
At 31 December 2022 20,992

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Complete Pool Chemicals Limited
Registered office: Malvern View Business Park, Stella Way, Bishops Cleeve, Cheltenham, Gloucestershire.
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 1 1

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

12. FIXED ASSET INVESTMENTS - continued

CPC Germany GmbH
Registered office: Bahnhofstr 68, 73240 Wendlingen, Germany
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 20,991 20,991

13. STOCKS
2023 2022
£    £   
Raw materials 1,565,441 2,626,699
Packaging 464,002 499,499
Finished goods 928,237 1,358,418
2,957,680 4,484,616

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,270,165 1,422,744
Prepayments 90,917 132,913
1,361,082 1,555,657

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 683,369 870,930
Corporation tax 85,382 110,795
Social security and other taxes 43,293 44,056
VAT 249,502 189,850
Directors' current accounts 23,749 95,503
Accruals 117,306 111,267
1,202,601 1,422,401

16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 191,328 192,338
Between one and five years 722,762 745,486
In more than five years 168,604 337,208
1,082,694 1,275,032

During the year the company incurred costs under operating leases of £182,172 (2022 - £181,734).

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

17. SECURED DEBTS

Security has been given by way of a fixed and floating charge over the assets of the company.

18. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 17,810 20,100

Deferred
tax
£   
Balance at 1 January 2023 20,100
Credit to Profit and Loss Account during year (2,290 )
Balance at 31 December 2023 17,810

The deferred tax provision will unwind in future years, as the difference between the net book value of fixed assets for accounting purposes, aligns with the written down value of fixed assets for tax purposes.

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
131,604 Ordinary Shares £1 131,604 131,604
55,252 A Ordinary Shares £1 55,252 55,252
3,050 B Ordinary Shares £1 3,050 4,150
(2022 - 4,150 )
189,906 191,006

During the year, the company bought back 1,100 B Ordinary shares.

The Ordinary shares and A Ordinary shares have full voting, dividend and capital rights. The B Ordinary shares have full capital rights.

COMPLETE POOL CONTROLS LIMITED (REGISTERED NUMBER: 05956913)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

20. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2023 6,360,557 67,194 6,427,751
Profit for the year 643,634 - 643,634
Dividends (186,108 ) - (186,108 )
Share buy back (80,904 ) 1,100 (79,804 )
At 31 December 2023 6,737,179 68,294 6,805,473

The company has recognised the following reserves:

Capital redemption reserve - comprises the nominal value of own shares repurchased.

Retained earnings - comprises accumulated profits and losses plus other comprehensive income less dividends.

21. RELATED PARTY DISCLOSURES

During the year the company purchased stock from companies controlled by a director of £1,114,903 (2022 - £2,859,041). At the year end the company owed £nil (2022 - £29,805).

At the year end, the company owed the directors £23,749 (2022 - £95,503) as a short-term, interest-free loan.

22. ULTIMATE CONTROLLING PARTY

No individual or entity has overall control of the company.