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Company No: 03307133 (England and Wales)

AMBASSADOR POOLS AND LEISURE LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

AMBASSADOR POOLS AND LEISURE LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

AMBASSADOR POOLS AND LEISURE LIMITED

BALANCE SHEET

As at 31 December 2024
AMBASSADOR POOLS AND LEISURE LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 11,035 14,713
Tangible assets 4 157,243 166,374
168,278 181,087
Current assets
Stocks 5 1,954,250 1,924,250
Debtors 6 583,896 403,007
Cash at bank and in hand 4,202,720 3,754,539
6,740,866 6,081,796
Creditors: amounts falling due within one year 7 ( 1,085,749) ( 1,430,749)
Net current assets 5,655,117 4,651,047
Total assets less current liabilities 5,823,395 4,832,134
Net assets 5,823,395 4,832,134
Capital and reserves
Called-up share capital 100 100
Profit and loss account 5,823,295 4,832,034
Total shareholders' funds 5,823,395 4,832,134

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Ambassador Pools and Leisure Limited (registered number: 03307133) were approved and authorised for issue by the Board of Directors on 04 April 2025. They were signed on its behalf by:

Christine Bailey
Director
Verdun Bailey
Director
AMBASSADOR POOLS AND LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
AMBASSADOR POOLS AND LEISURE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ambassador Pools and Leisure Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3-5 Wessex Road, Ringwood, Hampshire, BH24 1XB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Website costs 25 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 20 years straight line
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 30 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 21

3. Intangible assets

Goodwill Website costs Total
£ £ £
Cost
At 01 January 2024 50,765 140,630 191,395
At 31 December 2024 50,765 140,630 191,395
Accumulated amortisation
At 01 January 2024 50,765 125,917 176,682
Charge for the financial year 0 3,678 3,678
At 31 December 2024 50,765 129,595 180,360
Net book value
At 31 December 2024 0 11,035 11,035
At 31 December 2023 0 14,713 14,713

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 January 2024 41,180 216,825 309,517 102,857 97,805 768,184
Additions 0 0 6,875 32,132 0 39,007
Disposals 0 0 ( 33,009) 0 0 ( 33,009)
At 31 December 2024 41,180 216,825 283,383 134,989 97,805 774,182
Accumulated depreciation
At 01 January 2024 13,241 181,283 225,571 88,859 92,856 601,810
Charge for the financial year 2,059 7,109 20,965 8,855 1,484 40,472
Disposals 0 0 ( 25,343) 0 0 ( 25,343)
At 31 December 2024 15,300 188,392 221,193 97,714 94,340 616,939
Net book value
At 31 December 2024 25,880 28,433 62,190 37,275 3,465 157,243
At 31 December 2023 27,939 35,542 83,946 13,998 4,949 166,374

5. Stocks

2024 2023
£ £
Stocks 1,954,250 1,924,250

6. Debtors

2024 2023
£ £
Trade debtors 67,629 79,913
Other debtors 516,267 323,094
583,896 403,007

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 558,491 785,214
Taxation and social security 368,087 290,680
Other creditors 159,171 354,855
1,085,749 1,430,749