Company registration number 04302760 (England and Wales)
POOLBASE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
POOLBASE LIMITED
COMPANY INFORMATION
Directors
Mr S M Hill
Mr D Mounsey
Mr K Wardrope
Secretary
Mr R G Mottram
Company number
04302760
Registered office
Scottfield Road
and business address
Oldham
Lancashire
OL8 1LA
Accountants
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
Bankers
Handelsbanken
1st Floor Sunlight House
Quay Street
Manchester
M3 3JZ
Solicitors
Farleys Solicitors LLP
Unit C1 - Hurstwood Court
Duttons Way
Shadsworth
Blackburn
Lancashire
BB1 2PT
POOLBASE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
POOLBASE LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
6,856
6,856
Cash at bank and in hand
22
22
6,878
6,878
Creditors: amounts falling due within one year
4
(20)
(20)
Net current assets
6,858
6,858
Capital and reserves
Called up share capital
5
800
800
Capital redemption reserve
200
200
Profit and loss reserves
5,858
5,858
Total equity
6,858
6,858
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 November 2024 and are signed on its behalf by:
Mr S M Hill
Director
Company registration number 04302760 (England and Wales)
POOLBASE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information
Poolbase Limited is a private company limited by shares incorporated in England and Wales. The registered office is Scottfield Road, Oldham, Lancashire, OL8 1LA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Poolbase Limited is a subsidiary undertaking of Redbeam Limited, which is wholly owned subsidiary of Scotfield Limited and the results of Poolbase Limited are included in the consolidated financial statements of Scotfield Limited which are available from the registered office.
1.2
Going concern
The directors are not aware of any material uncertainties affecting the company and consider that the company will have sufficient resources to continue trading for the foreseeable future. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.true
POOLBASE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
1
Accounting policies
(Continued)
- 3 -
1.3
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
There were no employees during the year apart from the directors.
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
6,856
6,856
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
20
20
5
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
800 Ordinary shares of £1 each
800
800
POOLBASE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 4 -
6
Financial commitments, guarantees and contingent liabilities
The company has given a debenture over its assets, together with Hill's Panel Products Limited, HPP Pinnacle Limited and Alexlake Limited, by way of a guarantee to the holders of the 8% secured loan note instruments issued in Redbeam Limited, a wholly-owned subsidiary of Scotfield Limited. At 28 February 2024 an amount of £11,135,038 (2023: £11,135.038) was outstanding in respect of these loan note instruments.
The company has given a debenture over its assets, together with Hill's Panel Products Limited, HPP Pinnacle Limited, Alexlake Limited and Redbeam Limited, by way of a composite guarantee granted in respect of an asset based facilities agreement provided to Hill's Panel Products Limited. At 28 February 2024 an amount of £4,411,460 (2023: £3,555,276) was outstanding in respect of this agreement.
7
Parent company
The company is a wholly-owned subsidiary of Redbeam Limited, a company registered in England and Wales.
Redbeam Limited is an indirect wholly-owned subsidiary of Scotfield Limited, a company registered in England and Wales. Scotfield Limited is under the control of M S Hill (a former director) and S M Hill by virtue of their shareholdings in that company.