Merlin Pools & Spas LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: OC397713

Merlin Pools & Spas LLP

Filleted Unaudited Financial Statements

For the Year Ended

31 December 2024

Merlin Pools & Spas LLP

Financial Statements

Year Ended 31st December 2024

Contents	Page

Chartered Accountant's Report to the Members on the Preparation of the Unaudited Statutory Financial Statements	1

Statement of Financial Position	2

Notes to the Financial Statements	4

Merlin Pools & Spas LLP

Chartered Accountant's Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of Merlin Pools & Spas LLP

Year Ended 31st December 2024

As described on the statement of financial position, the members of the LLP are responsible for the preparation of the financial statements for the year ended 31st December 2024, which comprise the statement of financial position and the related notes. You consider that the LLP is exempt from an audit under the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

PEYTON TYLER MEARS Chartered accountants

Middleborough House 16 Middleborough Colchester Essex CO1 1QT

25 September 2025

Merlin Pools & Spas LLP

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed Assets

Tangible assets	6		177,679		194,189

Current Assets

Stocks		70,450	67,575
Debtors	7	75,218	104,310
Cash at bank and in hand		57,560	136,685
		-----------	-----------
		203,228	308,570

Creditors: amounts falling due within one year	8	232,546		295,963
		-----------		-----------
Net Current (Liabilities)/Assets			( 29,318)		12,607
			-----------		-----------
Total Assets Less Current Liabilities			148,361		206,796

Creditors: amounts falling due after more than one year	9	4,353	11,887
		-----------	-----------
Net Assets		144,008	194,909
		-----------	-----------

Represented by:

Loans and Other Debts due to Members

Other amounts	10	144,008	194,908
		-----------	-----------

Members' Other Interests

Other reserves	–	–
	-----------	-----------
	144,008	194,908
	-----------	-----------

Total Members' Interests

Loans and other debts due to members	10	144,008	194,908
Members' other interests		–	–
		-----------	-----------
		144,008	194,908
		-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of

Merlin Pools & Spas LLP

Statement of Financial Position (continued)

31 December 2024 comprehensive income has not been delivered.

For the year ending 31st December 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the members and authorised for issue on 25 September 2025 , and are signed on their behalf by:

S.J. Conway

Designated Member

Registered number: OC397713

Merlin Pools & Spas LLP

Notes to the Financial Statements

Year Ended 31st December 2024

1.	General Information

The LLP is registered in England and Wales. The address of the registered office is Middleborough House, 16 Middleborough, Colchester, Essex, CO11QT.

2.	Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).

3.	Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Members' Participation Rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Tenants improvements	-	10% straight line
Plant & machinery	-	25% straight line
Motor vehicles	-	25% straight line

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance Leases and Hire Purchase Contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes 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.

4.	Employee Numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 9 (2023: 11 ).

5.	Intangible Assets

	Goodwill
	£
Cost
At 1st January 2024 and 31st December 2024	10,000
	---------
Amortisation
At 1st January 2024 and 31st December 2024	10,000
	---------
Carrying amount
At 31st December 2024	–
	---------
At 31st December 2023	–
	---------

6.	Tangible Assets

	Freehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1st January 2024 and 31st December 2024	187,709	31,199	128,198	347,106
	-----------	---------	-----------	-----------
Depreciation
At 1st January 2024	13,955	23,676	115,286	152,917
Charge for the year	–	3,598	12,912	16,510
	-----------	---------	-----------	-----------
At 31st December 2024	13,955	27,274	128,198	169,427
	-----------	---------	-----------	-----------
Carrying amount
At 31st December 2024	173,754	3,925	–	177,679
	-----------	---------	-----------	-----------
At 31st December 2023	173,754	7,523	12,912	194,189
	-----------	---------	-----------	-----------

7.	Debtors

	2024	2023
	£	£
Trade debtors	55,120	84,120
Other debtors	20,098	20,190
	---------	-----------
	75,218	104,310
	---------	-----------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	33,192	48,354
Trade creditors	138,364	177,847
Social security and other taxes	15,298	22,106
Other creditors	45,692	47,656
	-----------	-----------
	232,546	295,963
	-----------	-----------

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

	2024	2023
	£	£
Other creditors	4,353	11,887
	--------	---------

10.	Loans and Other Debts due to Members

	2024	2023
	£	£
Amounts owed to members in respect of profits	144,008	194,908
	-----------	-----------