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REGISTERED NUMBER: 14027773 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

PPF -Variopool Ltd

PPF -Variopool Ltd (Registered number: 14027773)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PPF -Variopool Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr M B W Coesel





SECRETARY: Mr H Aberson





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





BUSINESS ADDRESS: 34 Shire Hill
SAFFRON WALDEN
CB11 3AQ





REGISTERED NUMBER: 14027773 (England and Wales)

PPF -Variopool Ltd (Registered number: 14027773)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 2,100 2,800
Tangible assets 6 91,933 84,333
94,033 87,133

CURRENT ASSETS
Stocks 9,682 10,949
Debtors 7 311,572 132,569
Cash at bank 42,199 12,586
363,453 156,104
CREDITORS
Amounts falling due within one year 8 489,055 231,248
NET CURRENT LIABILITIES (125,602 ) (75,144 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(31,569

)

11,989

PROVISIONS FOR LIABILITIES 11,915 19,286
NET LIABILITIES (43,484 ) (7,297 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (43,485 ) (7,298 )
(43,484 ) (7,297 )

PPF -Variopool Ltd (Registered number: 14027773)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 August 2024 and were signed by:





Mr M B W Coesel - Director


PPF -Variopool Ltd (Registered number: 14027773)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

PPF -Variopool Ltd 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. STATEMENT OF COMPLIANCE

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about PPF -Variopool Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern
The Company incurred a loss for the year and as at the year end, has net liabilities as disclosed on the balance sheet. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive sufficient financial support from its parent company, to provide sufficient funds to enable it to meet its liabilities as they fall due. The intercompany loan balance will not be drawn upon until the company is in a position to repay it.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 20% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

PPF -Variopool Ltd (Registered number: 14027773)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Change of accounting period and comparability
The current financial reporting period of a year is not fully comparable with the prior period as it was prepared for a period of 10 months. The reason for the shorter prior period of reporting was to align with the parent company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

PPF -Variopool Ltd (Registered number: 14027773)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 3,500
AMORTISATION
At 1 January 2023 700
Charge for year 700
At 31 December 2023 1,400
NET BOOK VALUE
At 31 December 2023 2,100
At 31 December 2022 2,800

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 38,459 71,422 109,881
Additions 393 37,824 38,217
At 31 December 2023 38,852 109,246 148,098
DEPRECIATION
At 1 January 2023 7,690 17,858 25,548
Charge for year 7,769 22,848 30,617
At 31 December 2023 15,459 40,706 56,165
NET BOOK VALUE
At 31 December 2023 23,393 68,540 91,933
At 31 December 2022 30,769 53,564 84,333

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 283,967 116,329
Other debtors 27,605 16,240
311,572 132,569

PPF -Variopool Ltd (Registered number: 14027773)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 106,163 21,242
Amounts owed to group undertakings 300,045 158,876
Taxation and social security 55,736 34,739
Other creditors 27,111 16,391
489,055 231,248

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 26,604 31,707
Between one and five years 10,750 134,104
37,354 165,811

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jonathan Ward ACA FCCA (Senior Statutory Auditor)
for and on behalf of R. M. Chancellor & Company Limited

11. PROVISIONS

As at 31 December 2023, the Company has recognised a provision for dilapidation in relation to the property lease agreement entered into on 20 June 2022. The total amount of the dilapidation provision is £11,915 (2022 - £12,414) and is based on management's estimates of the costs required to fulfill the Company's obligations under the lease agreement. These estimates include assessments of the current condition of the leased properties, the nature of the required restoration works, and anticipated future costs. The discount rate used to determine the present value of the provision is 5.25% (2022 - 3.5%).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M B W Coesel.

The company is a wholly owned subsidiary of Variopool Sales International BV, a company registered in the Netherlands whose registered office is, Haarspit 3, Oudkarspel, 1724BG.