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Registered number: 05824859










POLLET POOL GROUP UK LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
POLLET POOL GROUP UK LIMITED
REGISTERED NUMBER: 05824859

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible fixed assets
 4 
-
233,219

Tangible fixed assets
 5 
44,857
76,359

  
44,857
309,578

Current liablites
  

Stocks
 6 
-
776,271

Debtors: amounts falling due within one year
 7 
1,702,320
1,089,674

Cash at bank and in hand
 8 
432,968
1,161,105

Current liablities
  
2,135,288
3,027,050

Creditors: amounts falling due within one year
 9 
(147,113)
(1,082,379)

Net current assets
  
 
 
1,988,175
 
 
1,944,671

Total assets less current liabilities
  
2,033,032
2,254,249

Provisions for liabilities
  

Deferred tax
 10 
(7,239)
(15,138)

Net assets
  
2,025,793
2,239,111


Capital and reserves
  

Called up share capital 
 11 
350,000
350,000

Profit and loss account
  
1,675,793
1,889,111

  
2,025,793
2,239,111


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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



J Van Wauwe
S Pollet
Director
Director


Date: 19 August 2024
Date:19 August 2024

The notes on pages 2 to 11 form part of these financial statements.
Page 1

 
POLLET POOL GROUP UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Pollet Pool Group UK Limited is a private company limited by share capital and incorporated in England and Wales. The registered office and principal place of business is Blissard House, Abex Road, Newbury, England, RG14 5EY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Going concern

During the year the company ceased to trade with external customers and provided support services to another group company. Post year end the employees of the business were transferred to this group company and the service agreement terminated. At this point the company ceased to trade and it is the intention of the directors to wind up the business in due course. For these reasons the financial statements are prepared on a basis other than that of a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 2

 
POLLET POOL GROUP UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

  
2.5

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life which is deemed to be 10 years.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
POLLET POOL GROUP UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either the straight-line or reducing balance method.

Depreciation is provided on the following basis:

Plant & machinery
-
25% straight line
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
10% straight line or 33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
POLLET POOL GROUP UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.15

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 5

 
POLLET POOL GROUP UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.16

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds

 
2.17

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.


 
2.18

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 17).

Page 6

 
POLLET POOL GROUP UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
665,312



At 31 December 2023

665,312



Amortisation


At 1 January 2023
432,093


Charge for the year
66,531


Impairment charge
166,688



At 31 December 2023

665,312



Net book value



At 31 December 2023
-



At 31 December 2022
233,219



Page 7

 
POLLET POOL GROUP UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost


At 1 January 2023
25,854
179,596
95,027
300,477


Disposals
-
(68,874)
-
(68,874)



At 31 December 2023

25,854
110,722
95,027
231,603



Depreciation


At 1 January 2023
12,056
129,355
82,707
224,118


Charge for the year
4,599
11,655
4,110
20,364


Disposals
-
(57,736)
-
(57,736)



At 31 December 2023

16,655
83,274
86,817
186,746



Net book value



At 31 December 2023
9,199
27,448
8,210
44,857



At 31 December 2022
13,798
50,241
12,320
76,359


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
-
776,271


Page 8

 
POLLET POOL GROUP UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
12,002
1,055,999

Amounts owed by group undertakings
1,689,059
2,598

Prepayments and accrued income
1,259
31,077

1,702,320
1,089,674


Amounts owed by group undertakings are repayable on demand and no interest is charged.


8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
432,968
1,161,105



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
21,659
231,607

Amounts owed to group undertakings
-
360,192

Corporation tax
3,225
34,703

Other taxation and social security
111,285
240,288

Accruals and deferred income
10,944
215,589

147,113
1,082,379


Amounts owed to group undertakings are repayable on demand and no interest is charged.

Page 9

 
POLLET POOL GROUP UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
(15,138)


Charged to profit or loss
7,899



At end of year
(7,239)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(7,239)
(11,992)

Short term timing differences
-
(3,146)

(7,239)
(15,138)


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



350,000 (2022 - 350,000) Ordinary shares of £1 each
350,000
350,000



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,768 (2022: £69,593). Contributions totalling £Nil (2022: £Nil) were payable to the fund at the balance sheet date and are included in creditors


13.


Related party transactions

The company is exempt from disclosing related party transactions with other companies that are wholly owned within the Group headed by under FRS 102 section 33.1A.


14.


Post balance sheet events

On 1 April 2024, all Pollet Pool Group UK Limited employees were transferred over to Golden Coast Limited and at that point Pollet Pool Group UK Limited ceased to trade.

Page 10

 
POLLET POOL GROUP UK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

15.


Controlling party

Pollet Pool Group UK Limited is controlled by its immediate and ultimate parent company Pollet Water Group NV, a company incorporated in Belgiumwith registered office is 14 Brouwerijstraat, 8680 Koekelare, Belgium.  


16.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:
We draw attention to note 2.2 to the financial statements which explains that all employees of the company have been transferred to another group company post year end, and therefore the company has ceased to trade post year end. The directors therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern, as described in note 2.2.

The audit report was signed on 20 August 2024 by Jonathan Baillie BA (Hons) ACA FCCA (Senior Statutory Auditor) on behalf of James Cowper Kreston Audit.


Page 11