Company registration number 13027893 (England and Wales)
PODBACK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PODBACK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
PODBACK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
6,496
7,574
Current assets
Stocks
197,597
233,924
Debtors
5
1,788,002
637,690
Cash at bank and in hand
1,770,997
956,197
3,756,596
1,827,811
Creditors: amounts falling due within one year
6
(3,484,092)
(1,356,385)
Net current assets
272,504
471,426
Total assets less current liabilities
279,000
479,000
Provisions for liabilities
7
(279,000)
(479,000)
Net assets
-
0
-
0
Reserves
8
-
-

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 April 2025 and are signed on its behalf by:
R P Hindley
Director
Company registration number 13027893 (England and Wales)
PODBACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Podback Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Suite 4, Hilliard's Court, Chester Business Park, Chester, Cheshire, CH4 9QP.

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.

1.2
Income and expenditure

Income is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Income arises from the provision of services to its members, the payments for such services are calculated on the relative members market share of pod material type. The following criteria must also be met before revenue is recognised:

 

Rendering of services

Income from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to income and expenditure.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

PODBACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in income and expenditure, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in income or expenditure, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in income and expenditure

1.6
Cash and cash equivalents

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.

1.7
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.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 company after deducting all of its liabilities.

PODBACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.9
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in the period in which it arises.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

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

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

PODBACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 5 -
Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Useful lives of tangible fixed assets

The directors have reviewed the estimated useful lives and residual values of all tangible asset classes and have concluded that useful lives and residual values are appropriate.

 

The useful lives of the tangible assets are reviewed regularly and may vary depending on a number of factors. The review includes consideration of issues such as future market conditions, the remaining life of the asset and potential disposal values.

Provision for dilapadations

The company has recognised a sinking fund provision for dilapidations to cover the estimated costs of restoring premises and assets as part of winding down operations. The provision is subject to significant estimation uncertainty, including the scope of required remedial work, future cost inflation, and regulatory or contractual obligations. Estimates are based on historical data, professional assessments, and market conditions but may vary due to changes in operational requirements or legal interpretations. In a winding-up scenario, the provision would be reassessed for potential accelerated settlements, negotiated reductions, or alternative disposal strategies. Any variance between estimated and actual costs could materially impact the company’s final financial position.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
7
PODBACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Tangible fixed assets
Computer equipment
£
Cost
At 1 January 2024
10,307
Additions
1,998
At 31 December 2024
12,305
Depreciation and impairment
At 1 January 2024
2,733
Depreciation charged in the year
3,076
At 31 December 2024
5,809
Carrying amount
At 31 December 2024
6,496
At 31 December 2023
7,574
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charges due
1,650,224
243,357
Other debtors
1,284
267,473
Prepayments and accrued income
136,494
126,860
1,788,002
637,690
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
334,378
586,117
Taxation and social security
86,859
15,948
Deferred income
2,910,320
648,070
Other creditors
9,415
9,259
Accruals
143,120
96,991
3,484,092
1,356,385
PODBACK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
7
Provisions for liabilities
2024
2023
£
£
Sinking fund
279,000
279,000
Restricted fund
-
200,000
279,000
479,000
Movements on provisions:
Sinking fund
Restricted fund
Total
£
£
£
At 1 January 2024
279,000
200,000
479,000
Reversal of provision
-
(200,000)
(200,000)
At 31 December 2024
279,000
-
279,000
8
Members' liability

The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the Company in the event of liquidation.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Stephanie Baker BA(Hons) ACA
Statutory Auditor:
Xeinadin Audit Limited
Date of audit report:
1 April 2025
10
Controlling party

The directors do not consider there to be an ultimate controlling party.

2024-12-312024-01-01falsefalsefalse01 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityS DemoulinMr R D De FeliceO EllisR FreshwaterT Hoque-HarwoodMr R P HindleyMr R J HowatsonMr R J HowatsonA S R LundstromP A Dungate130278932024-01-012024-12-31130278932024-12-31130278932023-12-3113027893core:ComputerEquipment2024-12-3113027893core:ComputerEquipment2023-12-3113027893core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3113027893core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3113027893core:CurrentFinancialInstruments2024-12-3113027893core:CurrentFinancialInstruments2023-12-3113027893bus:Director62024-01-012024-12-3113027893core:ComputerEquipment2024-01-012024-12-31130278932023-01-012023-12-3113027893core:ComputerEquipment2023-12-31130278932023-12-3113027893bus:CompanyLimitedByGuarantee2024-01-012024-12-3113027893bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3113027893bus:FRS1022024-01-012024-12-3113027893bus:Audited2024-01-012024-12-3113027893bus:Director12024-01-012024-12-3113027893bus:Director22024-01-012024-12-3113027893bus:Director32024-01-012024-12-3113027893bus:Director42024-01-012024-12-3113027893bus:Director52024-01-012024-12-3113027893bus:Director72024-01-012024-12-3113027893bus:Director82024-01-012024-12-3113027893bus:Director92024-01-012024-12-3113027893bus:CompanySecretary12024-01-012024-12-3113027893bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP