Registered number
07332413
Poolkoi & Aquatics Limited
Filleted Accounts
31 July 2024
Poolkoi & Aquatics Limited
Registered number: 07332413
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 216 270
Current assets
Stocks 16,400 22,000
Creditors: amounts falling due within one year 4 (29,675) (33,285)
Net current liabilities (13,275) (11,285)
Net liabilities (13,059) (11,015)
Capital and reserves
Called up share capital 100 100
Profit and loss account (13,159) (11,115)
Shareholders' funds (13,059) (11,015)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Hewitt
Director
Approved by the board on 14 April 2025
Poolkoi & Aquatics Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 3,320
At 31 July 2024 3,320
Depreciation
At 1 August 2023 3,050
Charge for the year 54
At 31 July 2024 3,104
Net book value
At 31 July 2024 216
At 31 July 2023 270
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 14,576 14,335
Trade creditors 747 576
Other creditors 14,352 18,374
29,675 33,285
5 Related party transactions 2024 2023
£ £
Directors' Loan Account
The directors are related parties to the company
At 31st July, the company owed the related parties the
following interest-free, unsecured loans:
Amount due to the related parties 12,851 16,924
6 Controlling party
The directors are the ultimate controlling parties of the company by virtue of their 100% ownership of the issued share capital of the company.
7 Other information
Poolkoi & Aquatics Limited is a private company limited by shares and incorporated in England. Its registered office is:
89 Chorley Road
Swinton
Manchester
M27 4AA
Poolkoi & Aquatics Limited 07332413 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 R Hewitt No description of principal activity 07332413 2022-08-01 2023-07-31 07332413 core:WithinOneYear 2023-07-31 07332413 core:ShareCapital 2023-07-31 07332413 core:RetainedEarningsAccumulatedLosses 2023-07-31 07332413 2023-08-01 2024-07-31 07332413 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 07332413 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 07332413 bus:Director40 2023-08-01 2024-07-31 07332413 1 2023-08-01 2024-07-31 07332413 2 2023-08-01 2024-07-31 07332413 core:PlantMachinery 2023-08-01 2024-07-31 07332413 countries:England 2023-08-01 2024-07-31 07332413 bus:FRS102 2023-08-01 2024-07-31 07332413 bus:FilletedAccounts 2023-08-01 2024-07-31 07332413 2024-07-31 07332413 core:WithinOneYear 2024-07-31 07332413 core:ShareCapital 2024-07-31 07332413 core:RetainedEarningsAccumulatedLosses 2024-07-31 07332413 core:PlantMachinery 2024-07-31 07332413 2023-07-31 07332413 core:PlantMachinery 2023-07-31 iso4217:GBP xbrli:pure