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REGISTERED NUMBER: 12358132 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SOUTH WALES POOL & SPA LIMITED

SOUTH WALES POOL & SPA LIMITED (REGISTERED NUMBER: 12358132)






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


SOUTH WALES POOL & SPA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr J D Marsh





SECRETARY:





REGISTERED OFFICE: 7-8 Raleigh Walk Brigantine Place
Waterfront 2000
Cardiff
United Kingdom
CF10 4LN





REGISTERED NUMBER: 12358132 (England and Wales)






SOUTH WALES POOL & SPA LIMITED (REGISTERED NUMBER: 12358132)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,800 7,600
Tangible assets 5 65,931 98,137
69,731 105,737

CURRENT ASSETS
Stocks 6 44,275 30,160
Debtors 7 6,841 12,194
Cash at bank 1,111 3,071
52,227 45,425
CREDITORS
Amounts falling due within one year 8 26,402 5,431
NET CURRENT ASSETS 25,825 39,994
TOTAL ASSETS LESS CURRENT LIABILITIES 95,556 145,731

CREDITORS
Amounts falling due after more than one
year

9

125,037

197,337
NET LIABILITIES (29,481 ) (51,606 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (29,581 ) (51,706 )
SHAREHOLDERS' FUNDS (29,481 ) (51,606 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SOUTH WALES POOL & SPA LIMITED (REGISTERED NUMBER: 12358132)

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 23 September 2024 and were signed by:





Mr J D Marsh - Director


SOUTH WALES POOL & SPA LIMITED (REGISTERED NUMBER: 12358132)

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

1. STATUTORY INFORMATION

South Wales Pool & Spa 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 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.

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.


SOUTH WALES POOL & SPA LIMITED (REGISTERED NUMBER: 12358132)

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 14,000 5,000 19,000
AMORTISATION
At 1 January 2023 8,400 3,000 11,400
Amortisation for year 2,800 1,000 3,800
At 31 December 2023 11,200 4,000 15,200
NET BOOK VALUE
At 31 December 2023 2,800 1,000 3,800
At 31 December 2022 5,600 2,000 7,600

SOUTH WALES POOL & SPA LIMITED (REGISTERED NUMBER: 12358132)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 18,958 116,671 135,629
Disposals - (30,709 ) (30,709 )
At 31 December 2023 18,958 85,962 104,920
DEPRECIATION
At 1 January 2023 9,252 28,240 37,492
Charge for year 1,941 14,542 16,483
Eliminated on disposal - (14,986 ) (14,986 )
At 31 December 2023 11,193 27,796 38,989
NET BOOK VALUE
At 31 December 2023 7,765 58,166 65,931
At 31 December 2022 9,706 88,431 98,137

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 116,671
Disposals (30,709 )
At 31 December 2023 85,962
DEPRECIATION
At 1 January 2023 18,215
Charge for year 14,542
Eliminated on disposal (14,986 )
At 31 December 2023 17,771
NET BOOK VALUE
At 31 December 2023 68,191
At 31 December 2022 98,456

6. STOCKS
31.12.23 31.12.22
£    £   
Stocks 44,275 30,160

SOUTH WALES POOL & SPA LIMITED (REGISTERED NUMBER: 12358132)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 4,790 2,578
Other debtors 2,051 2,622
VAT - 6,994
6,841 12,194

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 7,299 481
Social security and other taxes 251 418
VAT 7,184 -
Other creditors 11,668 4,233
Net wages control - 299
26,402 5,431

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans more 5 yr by instal 23,279 31,109
Hire purchase contracts 46,780 73,697
Directors Loans 54,978 92,531
125,037 197,337

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 23,279 31,109

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary 1 100 100

11. RELATED PARTY DISCLOSURES

The company is controlled by Mr James Marsh who is the sole director.