Fowler Swimming Pools Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03491718 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2017

FOR

FOWLER SWIMMING POOLS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T R Holman

K W Dack

P J Pamment

SECRETARY:

M S Wegg

REGISTERED OFFICE:

Henfield Road

Cowfold

Horsham

West Sussex

RH13 8BS

REGISTERED NUMBER:

03491718 (England and Wales)

ACCOUNTANTS:

Russell New Limited

The Courtyard

Shoreham Road

Upper Beeding

Steyning

West Sussex

BN44 3TN

FIXED ASSETS

Tangible assets

4

139,789

101,452

CURRENT ASSETS

Stocks

261,850

173,480

Debtors

404,467

489,837

Cash in hand

96,462

193,687

762,779

857,004

CREDITORS

Amounts falling due within one year

440,816

490,043

NET CURRENT ASSETS

321,963

366,961

TOTAL ASSETS LESS CURRENT LIABILITIES

461,752

468,413

CREDITORS

Amounts falling due after more than one year

(9,973

)

-

PROVISIONS FOR LIABILITIES

(25,828

)

(17,247

)

NET ASSETS

425,951

451,166

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

424,951

450,166

SHAREHOLDERS' FUNDS

425,951

451,166

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 8th June 2018 and were signed on its behalf by:

T R Holman - Director

1.	STATUTORY INFORMATION

Fowler 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is the total amount receivable by the company in the ordinary course of business for goods supplied as principal

and for services provided, excluding VAT and trade discounts after adjusting for the movement between opening and

closing valuations of contracts in progress.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and net realisable value.

Long term contract balances are stated at net cost less foreseeable losses less any applicable payments on account. The

amount recorded as turnover in respect of long-term contracts is ascertained by reference to the value of the work carried

out to date. Attributable profit is recognised as the difference between recorded turnover and related costs.

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.

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.

Pension costs and other post-retirement benefits

The company contributes to three defined contribution schemes, being The Peoples' Pension, a Scottish Life personal

pension plan and Aviva personal pension plan. The company also contributes towards the Plumbing and Mechanical

Services (UK) Industry Pension Scheme, a salary related scheme. The pension costs charged against profits represent the

contributions payable to the schemes for the accounting period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2016 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2017

241,858

Additions

71,596

Disposals

(4,560

)

At 31st December 2017

308,894

DEPRECIATION

At 1st January 2017

140,406

Charge for year

32,621

Eliminated on disposal

(3,922

)

At 31st December 2017

169,105

NET BOOK VALUE

At 31st December 2017

139,789

At 31st December 2016

101,452

Fixed assets, included in the above, which are held under finance leases are as follows:

Totals

£

COST

Additions

18,340

At 31st December 2017

18,340

DEPRECIATION

Charge for year

1,528

At 31st December 2017

1,528

NET BOOK VALUE

At 31st December 2017

16,812

5.	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.

6.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £10,656 (2016: £20,052).