Silverfin false false 30/11/2024 01/12/2023 30/11/2024 Mrs K Sanderson 03/06/2016 Mr N Sanderson 03/06/2016 28 August 2025 The principal activity of the Company during the financial year was selling pool accessories. 10213151 2024-11-30 10213151 bus:Director1 2024-11-30 10213151 bus:Director2 2024-11-30 10213151 2023-11-30 10213151 core:CurrentFinancialInstruments 2024-11-30 10213151 core:CurrentFinancialInstruments 2023-11-30 10213151 core:Non-currentFinancialInstruments 2024-11-30 10213151 core:Non-currentFinancialInstruments 2023-11-30 10213151 core:ShareCapital 2024-11-30 10213151 core:ShareCapital 2023-11-30 10213151 core:RetainedEarningsAccumulatedLosses 2024-11-30 10213151 core:RetainedEarningsAccumulatedLosses 2023-11-30 10213151 core:PatentsTrademarksLicencesConcessionsSimilar 2023-11-30 10213151 core:PatentsTrademarksLicencesConcessionsSimilar 2024-11-30 10213151 core:LandBuildings 2023-11-30 10213151 core:FurnitureFittings 2023-11-30 10213151 core:LandBuildings 2024-11-30 10213151 core:FurnitureFittings 2024-11-30 10213151 bus:OrdinaryShareClass1 2024-11-30 10213151 2023-12-01 2024-11-30 10213151 bus:FilletedAccounts 2023-12-01 2024-11-30 10213151 bus:SmallEntities 2023-12-01 2024-11-30 10213151 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 10213151 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 10213151 bus:Director1 2023-12-01 2024-11-30 10213151 bus:Director2 2023-12-01 2024-11-30 10213151 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2023-12-01 2024-11-30 10213151 core:Goodwill 2023-12-01 2024-11-30 10213151 core:LandBuildings core:TopRangeValue 2023-12-01 2024-11-30 10213151 core:FurnitureFittings 2023-12-01 2024-11-30 10213151 2022-12-01 2023-11-30 10213151 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-01 2024-11-30 10213151 core:LandBuildings 2023-12-01 2024-11-30 10213151 core:Non-currentFinancialInstruments 2023-12-01 2024-11-30 10213151 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 10213151 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10213151 (England and Wales)

123 POOLS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

123 POOLS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

123 POOLS LIMITED

BALANCE SHEET

As at 30 November 2024
123 POOLS LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 44 61
Tangible assets 4 156,611 158,165
156,655 158,226
Current assets
Stocks 5 246,931 202,886
Debtors 6 13,997 12,405
Cash at bank and in hand 37,491 3,378
298,419 218,669
Creditors: amounts falling due within one year 7 ( 41,469) ( 35,619)
Net current assets 256,950 183,050
Total assets less current liabilities 413,605 341,276
Creditors: amounts falling due after more than one year 8 ( 81,500) ( 87,500)
Provision for liabilities ( 967) ( 939)
Net assets 331,138 252,837
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 331,038 252,737
Total shareholders' funds 331,138 252,837

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of 123 Pools Limited (registered number: 10213151) were approved and authorised for issue by the Board of Directors on 28 August 2025. They were signed on its behalf by:

Mr N Sanderson
Director
123 POOLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
123 POOLS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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

123 Pools 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 Bexley Garage, 2 Bexley Lane, Torquay, Devon, TQ2 5BB, 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.

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

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

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:

Trademarks, patents and licences 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

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 or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Fixtures and fittings 25 % 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.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 4

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 December 2023 170 170
At 30 November 2024 170 170
Accumulated amortisation
At 01 December 2023 109 109
Charge for the financial year 17 17
At 30 November 2024 126 126
Net book value
At 30 November 2024 44 44
At 30 November 2023 61 61

4. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 December 2023 163,431 12,789 176,220
Additions 0 1,416 1,416
At 30 November 2024 163,431 14,205 177,636
Accumulated depreciation
At 01 December 2023 9,020 9,035 18,055
Charge for the financial year 1,668 1,302 2,970
At 30 November 2024 10,688 10,337 21,025
Net book value
At 30 November 2024 152,743 3,868 156,611
At 30 November 2023 154,411 3,754 158,165

Included within the net book value of Land and buildings above is £152,743 (2023: £154,411) in respect of freehold land and buildings.

5. Stocks

2024 2023
£ £
Stocks 246,931 202,886

6. Debtors

2024 2023
£ £
Trade debtors 13,997 12,405

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 6,000 6,000
Corporation tax 18,768 0
Other taxation and social security 8,594 1,692
Other creditors 8,107 27,927
41,469 35,619

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 81,500 87,500

Bank borrowings are secured on property owned by the company.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100