2023-01-012024-06-302024-06-30false09468255LIGHTHOUSE POOLS 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LIGHTHOUSE POOLS LIMITED

Registered Number
09468255
(England and Wales)

Unaudited Financial Statements for the Period ended
30 June 2024

LIGHTHOUSE POOLS LIMITED
Company Information
for the period from 1 January 2023 to 30 June 2024

Director

PHILLIPS, Daniel James

Registered Address

Unit 7 Meadow Close
Langage Business Park
Plymouth
PL7 5EX

Registered Number

09468255 (England and Wales)
LIGHTHOUSE POOLS LIMITED
Balance Sheet as at
30 June 2024

Notes

30 Jun 2024

31 Dec 2022

£

£

£

£

Fixed assets
Intangible assets38,0163,326
Tangible assets4262,531257,285
270,547260,611
Current assets
Stocks51,016,343640,961
Debtors1,183,335572,518
Cash at bank and on hand3,0991,716
2,202,7771,215,195
Creditors amounts falling due within one year6(2,000,486)(997,569)
Net current assets (liabilities)202,291217,626
Total assets less current liabilities472,838478,237
Creditors amounts falling due after one year7(406,514)(431,363)
Net assets66,32446,874
Capital and reserves
Called up share capital1,0301,030
Profit and loss account65,29445,844
Shareholders' funds66,32446,874
The financial statements were approved and authorised for issue by the Director on 11 October 2024, and are signed on its behalf by:
PHILLIPS, Daniel James
Director
Registered Company No. 09468255
LIGHTHOUSE POOLS LIMITED
Notes to the Financial Statements
for the period ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Tangible fixed assets are stated at cost or valuation less amortisation
Research and development
Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Plant and machinery-5
Vehicles15-
Office Equipment-5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242022
Average number of employees during the year1520
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 237,1707,170
Additions8,2508,250
At 30 June 2415,42015,420
Amortisation and impairment
At 01 January 233,8443,844
Charge for year3,5603,560
At 30 June 247,4047,404
Net book value
At 30 June 248,0168,016
At 31 December 223,3263,326
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 January 2339,228254,85728,59731,975354,657
Additions1,1057,12866,9444,44079,617
Disposals--(18,747)-(18,747)
At 30 June 2440,333261,98576,79436,415415,527
Depreciation and impairment
At 01 January 2312,21552,20815,61717,33297,372
Charge for year6,00761,24610,3137,01484,580
On disposals--(9,385)-(9,385)
Other adjustments(5,508)(10,589)(3,474)-(19,571)
At 30 June 2412,714102,86513,07124,346152,996
Net book value
At 30 June 2427,619159,12063,72312,069262,531
At 31 December 2227,013202,64912,98014,643257,285
The Other adjustments noted above reflect the restatement of depreciation in prior years as a result of the change in the company depreciation policies.
5.Stocks

2024

2022

££
Finished goods1,016,343640,961
Total1,016,343640,961
6.Creditors: amounts due within one year

2024

2022

££
Trade creditors / trade payables806,906436,434
Bank borrowings and overdrafts992,075518,612
Taxation and social security197,27236,984
Finance lease and HP contracts1,838-
Other creditors2,3955,539
Total2,000,486997,569
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2022

££
Bank borrowings and overdrafts386,902431,363
Other creditors19,612-
Total406,514431,363
8.Obligations under finance leases

2024

2022

££
Finance lease and HP contracts19,612-
9.Prior period policy changes
During the year, the company changes its depreciation method for motor vehicles from 25% to 15% on a reducing balance, leasehold improvement from 4 years to 10 years on a straight-line basis and show pool cost (plant & machinery) from 25% to 15% on a reducing balance. This change is made because the new method better reflects the company's consumption of the vehicles over their useful lives.