Company registration number 03491718 (England and Wales)
FOWLER SWIMMING POOLS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
FOWLER SWIMMING POOLS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
FOWLER SWIMMING POOLS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr K W Dack
Mrs M S Wegg
Mr T R Holman
Mr G Nunn
(Appointed 1 April 2024)
Mr M Wilson
(Appointed 1 January 2025)
Secretary
M S Wegg
Company number
03491718
Registered office
Henfield Road
Cowfold
Horsham
West Sussex
RH13 8BS
Accountants
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
FOWLER SWIMMING POOLS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
128,418
110,584
Current assets
Stocks
180,426
157,255
Debtors
4
462,614
705,305
Cash at bank and in hand
558,002
558,652
1,201,042
1,421,212
Creditors: amounts falling due within one year
5
(755,528)
(674,329)
Net current assets
445,514
746,883
Total assets less current liabilities
573,932
857,467
Creditors: amounts falling due after more than one year
6
(7,602)
(14,619)
Provisions for liabilities
(32,104)
(27,646)
Net assets
534,226
815,202
Capital and reserves
Called up share capital
7
835
835
Capital redemption reserve
165
165
Profit and loss reserves
533,226
814,202
Total equity
534,226
815,202
FOWLER SWIMMING POOLS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
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 profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 7 May 2025 and are signed on its behalf by:
Mrs M S Wegg
Director
Company registration number 03491718 (England and Wales)
FOWLER SWIMMING POOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information
Fowler Swimming Pools Limited is a private company limited by shares incorporated in England and Wales. The registered office is Henfield Road, Cowfold, Horsham, West Sussex, RH13 8BS.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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:
Plant and equipment
10% on reducing balance
Computers
25% on cost
Motor vehicles
25% on reducing balance
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 profit or loss.
1.4
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.
1.5
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.
FOWLER SWIMMING POOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
FOWLER SWIMMING POOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
35
33
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
8,087
13,650
310,643
332,380
Additions
52,095
52,095
Disposals
(41,762)
(41,762)
At 31 December 2024
8,087
13,650
320,976
342,713
Depreciation and impairment
At 1 January 2024
7,801
11,100
202,895
221,796
Depreciation charged in the year
64
1,275
28,980
30,319
Eliminated in respect of disposals
(37,820)
(37,820)
At 31 December 2024
7,865
12,375
194,055
214,295
Carrying amount
At 31 December 2024
222
1,275
126,921
128,418
At 31 December 2023
286
2,550
107,748
110,584
FOWLER SWIMMING POOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
327,805
503,771
Other debtors
134,809
201,534
462,614
705,305
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
292,443
143,344
Taxation and social security
136,929
342,218
Other creditors
326,156
188,767
755,528
674,329
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
7,602
14,619
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Ordinary of £1 each
426
510
426
510
A of £1 each
50
50
50
50
B of £1 each
50
50
50
50
C of £1 each
50
50
50
50
D of £1 each
116
99
116
99
E of £1 each
94
45
94
45
F of £1 each
42
25
42
25
G of £1 each
1
1
1
1
H of £1 each
5
5
5
5
I of £1 each
1
-
1
-
835
835
835
835
FOWLER SWIMMING POOLS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
8
Parent company
The company's parent company is Fowler Bros. Limited. The registered office and its principal place of business of Fowler Bros. Limited is Henfield Road, Cowfold, Horsham, West Sussex, RH13 8BS.