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Registered number: 01340832
Clearwater Swimming Pools Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 01340832
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 148,417 104,671
148,417 104,671
CURRENT ASSETS
Stocks 5 47,617 27,920
Debtors 6 210,950 341,183
Cash at bank and in hand 1,092,423 1,427,520
1,350,990 1,796,623
Creditors: Amounts Falling Due Within One Year 7 (183,517 ) (500,870 )
NET CURRENT ASSETS (LIABILITIES) 1,167,473 1,295,753
TOTAL ASSETS LESS CURRENT LIABILITIES 1,315,890 1,400,424
Creditors: Amounts Falling Due After More Than One Year 8 (43,035 ) (28,106 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (11,113 ) (11,113 )
NET ASSETS 1,261,742 1,361,205
CAPITAL AND RESERVES
Called up share capital 10 3 2
Income Statement 1,261,739 1,361,203
SHAREHOLDERS' FUNDS 1,261,742 1,361,205
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Page 2
For the year ending 31 March 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mrs Rosalind Thomas
Director
10/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Clearwater Swimming Pools Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01340832 . The registered office is The Studio 81 Langley Close, Headington, Oxford, Oxfordshire, OX3 7DB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% and 4% on cost
Plant & Machinery 15% on reducing balance
Motor Vehicles 20% on reducing balance
Computer Equipment 33% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under fiinance 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 23,025 19,771 136,704 27,405 206,905
Additions 31,438 - 62,031 - 93,469
Disposals - - (27,900 ) - (27,900 )
As at 31 March 2024 54,463 19,771 170,835 27,405 272,474
Depreciation
As at 1 April 2023 4,305 17,712 55,395 24,822 102,234
Provided during the period 2,038 309 24,204 852 27,403
Disposals - - (5,580 ) - (5,580 )
As at 31 March 2024 6,343 18,021 74,019 25,674 124,057
Net Book Value
As at 31 March 2024 48,120 1,750 96,816 1,731 148,417
As at 1 April 2023 18,720 2,059 81,309 2,583 104,671
5. Stocks
2024 2023
£ £
Stocks 22,617 23,189
Work in progress 25,000 4,731
47,617 27,920
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 99,677 212,063
Prepayments and accrued income 2,273 2,312
Other debtors 109,000 125,000
VAT - 1,808
210,950 341,183
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 17,550 7,498
Trade creditors 104,481 158,985
Corporation tax 1,454 33,191
Other taxes and social security 15,020 8,489
VAT 4,828 -
Other creditors 845 3,063
Customers' deposits received 21,391 15,632
Accrued expenses 4,110 254,060
Directors' loan accounts 13,838 19,952
183,517 500,870
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 43,035 28,106
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 17,550 7,498
Later than one year and not later than five years 43,035 28,106
60,585 35,604
60,585 35,604
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 2
11. Ultimate Controlling Party
The company was controlled throughout the current and previous year by Mrs R Thomas and Mr H H Thomas.
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