REGISTERED NUMBER: 14027773 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

PPF -Variopool Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M B W Coesel

SECRETARY:

Mr H Aberson

REGISTERED OFFICE:

Lewis House

Great Chesterford Court

Great Chesterford

Essex

CB10 1PF

REGISTERED NUMBER:

14027773 (England and Wales)

FIXED ASSETS

Intangible assets

5

1,400

2,100

Tangible assets

6

88,663

91,933

90,063

94,033

CURRENT ASSETS

Stocks

42,978

9,682

Debtors

7

338,058

311,572

Cash at bank

62,226

42,199

443,262

363,453

CREDITORS

Amounts falling due within one year

8

453,341

489,055

NET CURRENT LIABILITIES

(10,079

)

(125,602

)

TOTAL ASSETS LESS CURRENT LIABILITIES

79,984

(31,569

)

PROVISIONS FOR LIABILITIES

29,091

11,915

NET ASSETS/(LIABILITIES)

50,893

(43,484

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

50,892

(43,485

)

50,893

(43,484

)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 July 2025 and were signed by:

Mr M B W Coesel - Director

1.	STATUTORY INFORMATION

PPF -Variopool Ltd 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.

Preparation of consolidated financial statements

The financial statements contain information about PPF -Variopool Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

20% on cost

Plant and machinery etc

-

25% on reducing balance

Stocks

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

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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

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

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

3,500

AMORTISATION

At 1 January 2024

1,400

Charge for year

700

At 31 December 2024

2,100

NET BOOK VALUE

At 31 December 2024

1,400

At 31 December 2023

2,100

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

38,852

109,246

148,098

Additions

1,413

27,340

28,753

At 31 December 2024

40,265

136,586

176,851

DEPRECIATION

At 1 January 2024

15,459

40,706

56,165

Charge for year

8,051

23,972

32,023

At 31 December 2024

23,510

64,678

88,188

NET BOOK VALUE

At 31 December 2024

16,755

71,908

88,663

At 31 December 2023

23,393

68,540

91,933

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

294,354

283,967

Other debtors

43,704

27,605

338,058

311,572

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

66,099

106,163

Amounts owed to group undertakings

283,547

300,045

Taxation and social security

87,760

55,736

Other creditors

15,935

27,111

453,341

489,055

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

10,750

26,604

Between one and five years

-

10,750

10,750

37,354

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

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

During the financial year the company adopted a policy of holding significantly more stock than in prior periods, this was to guard against supply chain issues causing delays in production. We were not informed of this change and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2024, which are included in the balance sheet at £42,978, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Matters required to report by exception

Arising solely from the limitation on the scope of our work relating to inventory, referred to above:

- we have not received all the information and explanations we require for our audit.

We have nothing to report in respect of:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of director's remuneration specified by law are not made; or

- the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Jonathan Ward ACA FCCA (Senior Statutory Auditor)

for and on behalf of R. M. Chancellor & Company Limited

11.	PROVISIONS

As at 31 December 2024, the Company has recognised a provision for dilapidation in relation to the property lease agreement entered into on 20 June 2022. The total amount of the dilapidation provision is £12,751 (2023 - £11,915) and is based on management's estimates of the costs required to fulfill the Company's obligations under the lease agreement. These estimates include assessments of the current condition of the leased properties, the nature of the required restoration works, and anticipated future costs. The discount rate used to determine the present value of the provision is 4.75% (2023 - 5.25%).

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M B W Coesel.

The company is a wholly owned subsidiary of Variopool Sales International BV, a company registered in the Netherlands whose registered office is, Haarspit 3, Oudkarspel, 1724BG.