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REGISTERED NUMBER: 05721474 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2024

FOR

THREE COUNTIES POOLS & SPAS LIMITED

THREE COUNTIES POOLS & SPAS LIMITED (REGISTERED NUMBER: 05721474)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


THREE COUNTIES POOLS & SPAS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







Director: W R Welch





Secretary: Ms E E Garrett





Registered office: Unit 2-4 Burcott Business Park
Burcott Road
Hereford
HR4 9JQ





Registered number: 05721474 (England and Wales)

THREE COUNTIES POOLS & SPAS LIMITED (REGISTERED NUMBER: 05721474)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £ £ £ £
Fixed assets
Tangible assets 4 118,443 146,933

Current assets
Stocks 5 320,515 360,134
Debtors 6 455,058 218,787
Cash at bank and in hand 65,413 241,781
840,986 820,702
Creditors
Amounts falling due within one year 7 206,827 196,604
Net current assets 634,159 624,098
Total assets less current liabilities 752,602 771,031

Creditors
Amounts falling due after more than one
year

8

(20,495

)

(48,679

)

Provisions for liabilities 10 (27,400 ) (34,000 )
Net assets 704,707 688,352

Capital and reserves
Called up share capital 11 100 100
Retained earnings 704,607 688,252
Shareholders' funds 704,707 688,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

THREE COUNTIES POOLS & SPAS LIMITED (REGISTERED NUMBER: 05721474)

BALANCE SHEET - continued
31ST MARCH 2024


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12th November 2024 and were signed by:





W R Welch - Director


THREE COUNTIES POOLS & SPAS LIMITED (REGISTERED NUMBER: 05721474)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. Statutory information

Three Counties Pools & Spas 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.

Tangible fixed assets
Tangible assets are stated in the Balance Sheet at cost less depreciation. Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.

Plant & machinery20% RB
Motor vehicles20% RB
Computer equipment20% RB

Stock & work in progress
Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Costs include all direct expenditure and an appropriate proportion of fixed and variable overheads.

THREE COUNTIES POOLS & SPAS LIMITED (REGISTERED NUMBER: 05721474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, 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.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.








THREE COUNTIES POOLS & SPAS LIMITED (REGISTERED NUMBER: 05721474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. Accounting policies - continued
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducing all of its liabilities. Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

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

THREE COUNTIES POOLS & SPAS LIMITED (REGISTERED NUMBER: 05721474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


2. Accounting policies - continued

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 and loss account on a straight line basis over the lease term.

Pension costs
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 (including officers)

The average number of employees during the year was 5 (2023 - 5 ) .

4. Tangible fixed assets
Plant & Motor Computer
machinery vehicles equipment Totals
£ £ £ £
Cost
At 1st April 2023 136,299 165,869 9,953 312,121
Additions - - 1,121 1,121
At 31st March 2024 136,299 165,869 11,074 313,242
Depreciation
At 1st April 2023 59,414 101,131 4,643 165,188
Charge for year 15,377 12,947 1,287 29,611
At 31st March 2024 74,791 114,078 5,930 194,799
Net book value
At 31st March 2024 61,508 51,791 5,144 118,443
At 31st March 2023 76,885 64,738 5,310 146,933

The net book value of tangible fixed assets includes £ 50,981 (2023 - £ 63,726 ) in respect of assets held under hire purchase contracts or finance leases.

THREE COUNTIES POOLS & SPAS LIMITED (REGISTERED NUMBER: 05721474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. Stocks
31.3.24 31.3.23
£ £
Stocks 320,515 360,134

6. Debtors: amounts falling due within one year
31.3.24 31.3.23
£ £
Trade debtors 12,314 80,198
S455 tax 93,048 32,276
Payments on account 52,483 -
Director's loan account 279,877 97,260
Prepayments 17,336 9,053
455,058 218,787

7. Creditors: amounts falling due within one year
31.3.24 31.3.23
£ £
Bank loans & overdrafts 10,000 10,000
Trade creditors 50,861 59,165
Corporation tax 9,500 3,500
Social security & other tax 13,917 15,243
Other creditors 41,437 87,366
S455 tax 60,772 -
Hire purchase 18,183 19,648
Accruals 2,157 1,682
206,827 196,604

8. Creditors: amounts falling due after more than one year
31.3.24 31.3.23
£ £
Bank loans one to two years 10,000 10,000
Bank loans two to five years 1,667 11,667
Hire purchase one to five years 8,828 27,012
20,495 48,679

THREE COUNTIES POOLS & SPAS LIMITED (REGISTERED NUMBER: 05721474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£ £
Within one year 27,271 27,271
Between one and five years 109,086 109,086
In more than five years 109,086 136,357
245,443 272,714

10. Provisions for liabilities
31.3.24 31.3.23
£ £
Deferred tax 27,400 34,000

Deferred tax
£
Balance at 1st April 2023 34,000
Provided during year (6,600 )
Balance at 31st March 2024 27,400

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £ £
100 Ordinary shares £1 100 100

12. Contingent liabilities

There were no contingent liabilities at 31st March 2024.

13. Pension commitments

The company operates a defined contribution 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 £3,984 (2023: £4,130).

THREE COUNTIES POOLS & SPAS LIMITED (REGISTERED NUMBER: 05721474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


14. Director's advances, credits and guarantees

During the year, the director of the company used a current account with the company to record amounts due to them and amounts drawn by them. Loans and advances totalling £231,425 and repayments of £48,808 were made during the year. The balance owed to the company at the end of the year was £279,877 (2023: £97,260).

The loans and advances were made interest free and were repayable on demand.