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REGISTERED NUMBER: 02452107 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BUCKINGHAM SWIMMING POOLS LIMITED

BUCKINGHAM SWIMMING POOLS LIMITED (REGISTERED NUMBER: 02452107) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 December 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| BUCKINGHAM SWIMMING POOLS LIMITED |

COMPANY INFORMATION

for the year ended 31 December 2024

| DIRECTORS: | P A Walton-Collett

| R S Hefford

| REGISTERED OFFICE: | Dalehouse Lane

| Kenilworth

| Warwickshire

| CV8 2EB

| REGISTERED NUMBER: | 02452107 (England and Wales)

| AUDITORS: | Dafferns Audit Limited

| Chartered Accountants

| Statutory Auditor

| One Eastwood

| Harry Weston Road

| Binley Business Park

| Coventry

| CV3 2UB

BUCKINGHAM SWIMMING POOLS LIMITED (REGISTERED NUMBER: 02452107) |

BALANCE SHEET

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 254,893 |  | 291,982 |  |

CURRENT ASSETS

Stocks | 6 | 167,075 |  | 78,308 |  |

Debtors | 7 | 1,562,181 |  | 1,323,203 |  |

Cash at bank and in hand | 1,644,915 |  | 1,499,242 |  |

3,374,171 |  | 2,900,753 |  |

CREDITORS

Amounts falling due within one year | 8 | 2,468,335 |  | 1,862,656 |  |

NET CURRENT ASSETS | 905,836 |  | 1,038,097 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,160,729 |  | 1,330,079 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (55,826 | ) | (148,620 | ) |

PROVISIONS FOR LIABILITIES | (46,000 | ) | (68,000 | ) |

NET ASSETS | 1,058,903 |  | 1,113,459 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 50,000 |  | 50,000 |  |

Retained earnings | 12 | 1,008,903 |  | 1,063,459 |  |

SHAREHOLDERS' FUNDS | 1,058,903 |  | 1,113,459 |  |

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2025 and were signed on its behalf by:

P A Walton-Collett - Director

BUCKINGHAM SWIMMING POOLS LIMITED (REGISTERED NUMBER: 02452107) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2024

1. | STATUTORY INFORMATION

| Buckingham Swimming Pools Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

| Turnover represents net invoiced value of work certified, excluding value added tax.

| Tangible fixed assets

| Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

| Repairs and maintenance costs are charged to the statement of comprehensive income in the period in which they are incurred.

| Depreciation is calculated so as to write off the cost of tangible fixed assets by equal installments over their estimated useful lives as follows:-

| Improvements to property |  | - |  | 10% on cost |  |

| Plant and machinery |  | - |  | 25% on cost |  |

| Fixtures and fittings |  | - |  | 10% to 25% on cost |  |

| Motor vehicles |  | - |  | 25% on cost |  |

| Any gains and losses on the disposal of tangible fixed assets are recognised in the statement of comprehensive income in the year that the disposal takes place..

BUCKINGHAM SWIMMING POOLS LIMITED (REGISTERED NUMBER: 02452107) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

3. | ACCOUNTING POLICIES - continued

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Work in progress

| The value attributed to construction contracts, after provision for foreseeable losses and net of payments on account, is included in debtors as amounts recoverable on contracts. Where payments on account exceed turnover the difference is included in creditors as excess payments on account.

| Financial instruments

| Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset in measured at the present value of the future receipts discounted at a market rate of interest.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BUCKINGHAM SWIMMING POOLS LIMITED (REGISTERED NUMBER: 02452107) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

3. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Warranty work

| Provision is made in the accounts for material claims at the year end. As expenditure on warranty work is generally immaterial other warranty costs are charged to the profit and loss account as they are incurred.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 30 (2023 - 27 ) .

5. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

| to |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST OR VALUATION

| At 1 January 2024 | 80,782 |  | 21,232 |  | 228,585 |  | 419,655 |  | 750,254 |  |

| Additions | - |  | 462 |  | 17,976 |  | 59,307 |  | 77,745 |  |

| Disposals | - |  | - |  | - |  | (24,017 | ) | (24,017 | ) |

| At 31 December 2024 | 80,782 |  | 21,694 |  | 246,561 |  | 454,945 |  | 803,982 |  |

| DEPRECIATION

| At 1 January 2024 | 72,575 |  | 18,735 |  | 208,013 |  | 158,949 |  | 458,272 |  |

| Charge for year | 936 |  | 972 |  | 10,571 |  | 102,355 |  | 114,834 |  |

| Eliminated on disposal | - |  | - |  | - |  | (24,017 | ) | (24,017 | ) |

| At 31 December 2024 | 73,511 |  | 19,707 |  | 218,584 |  | 237,287 |  | 549,089 |  |

| NET BOOK VALUE

| At 31 December 2024 | 7,271 |  | 1,987 |  | 27,977 |  | 217,658 |  | 254,893 |  |

| At 31 December 2023 | 8,207 |  | 2,497 |  | 20,572 |  | 260,706 |  | 291,982 |  |

| At 31st December 2024 assets with a net book value of £219,138 (2023 - £267,297) were subject to hire purchase agreements.

6. | STOCKS

2024 | 2023 |

£ | £ |

| Work-in-progress | 94,301 |  | 6,942 |  |

| Finished goods | 72,774 |  | 71,366 |  |

167,075 |  | 78,308 |  |

BUCKINGHAM SWIMMING POOLS LIMITED (REGISTERED NUMBER: 02452107) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

7. | DEBTORS

2024 | 2023 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 420,445 |  | 414,335 |  |

| Amounts recoverable on contracts | 675,109 |  | 462,255 |  |

| Prepayments | 53,737 |  | 33,723 |  |

1,149,291 |  | 910,313 |  |

| Amounts falling due after more than one year:

| Amounts owed by group undertakings | 412,890 |  | 412,890 |  |

| Aggregate amounts | 1,562,181 |  | 1,323,203 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 30,000 |  | 30,000 |  |

| Hire purchase contracts | 97,249 |  | 103,470 |  |

| Trade creditors | 2,133,173 |  | 1,538,145 |  |

| Taxation | 86,091 |  | 14,000 |  |

| Social security and other taxes | 74,902 |  | 84,568 |  |

| Other creditors | 5,085 |  | 4,965 |  |

| Accrued expenses | 41,835 |  | 87,508 |  |

2,468,335 |  | 1,862,656 |  |

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans - 1-2 years | 15,000 |  | 30,000 |  |

| Bank loans - 2-5 years | - |  | 15,000 |  |

| Hire purchase contracts | 40,826 |  | 103,620 |  |

55,826 |  | 148,620 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Hire purchase contracts | 138,075 |  | 207,090 |  |

| The hire purchase creditors are secured against the relevant fixed assets.

BUCKINGHAM SWIMMING POOLS LIMITED (REGISTERED NUMBER: 02452107) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 50,000 | Ordinary | £1 | 50,000 |  | 50,000 |  |

12. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2024 | 1,063,459 |  |

| Profit for the year | 180,875 |  |

| Dividends | (235,431 | ) |

| At 31 December 2024 | 1,008,903 |  |

13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| David Halkett FCCA (Senior Statutory Auditor)

| for and on behalf of Dafferns Audit Limited

14. | CAPITAL COMMITMENTS

2024 | 2023 |

£ | £ |

| Contracted but not provided for in the

| financial statements | - |  | 58,608 |  |

15. | FINANCIAL COMMITMENTS

| Funding an intercompany loan to the parent company

| The company was acquired by Buckingham Swimming Pools Group Limited (BSPG) in June 2019 in a management buyout, partly funded by the Vendors with a loan to BSPG repayable over a six year period. The Vendor loan is secured by fixed and floating charges over the assets of the both BSPG and the company.

| BSPG funds repayments with an intercompany loan from the company, depending on future profitability, the consideration and Vendor loan may increase. The fair value total Vendor loan at 31/12/24 is measured as £238k (2023: £377k), repayable over 6 months, with repayments funded by the company in 2025 expected to be at the rate of circa £238k per annum, which is not included in the balance sheet.

| Other operating leases

| Other financial commitments and guarantees in respect of operating leases for property and office equipment, which are not included in the balance sheet, amount to £278,160 (2023: £31,916) in total.

16. | RELATED PARTY DISCLOSURES

| Debtors due after more than one year includes £412,890 (2023: £412,890) in respect of an intercompany loan to the new holding company, Buckingham Swimming Pools Group Limited. This represents amounts advanced to BSPG to fund Vendor its loan commitments following the June 2019 management buyout. This loan will ultimately be repaid to the company from the proceeds of intercompany dividends.

BUCKINGHAM SWIMMING POOLS LIMITED (REGISTERED NUMBER: 02452107) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

17. | ULTIMATE CONTROLLING PARTY

| The company is 100% owned by BSPH (2008) Limited (formerly Buckingham Swimming Pools Holdings Limited), a company registered in England whose registered office is Dalehouse Lane, Kenilworth, Warwickshire, CV8 2EB.

| The company's ultimate parent company is Buckingham Swimming Pools Group Limited, a company registered in England whose registered office is Dalehouse Lane, Kenilworth, Warwickshire, CV8 2EB.