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Financial Statements for the Year Ended 31 December 2021 |
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Riptide Pools Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 December 2021 |
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for |
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Riptide Pools Limited |
Riptide Pools Limited (Registered number: 06356472) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Riptide Pools Limited |
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Company Information |
for the Year Ended 31 December 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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12 Conqueror Court |
Sittingbourne |
Kent |
ME10 5BH |
Riptide Pools Limited (Registered number: 06356472) |
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Balance Sheet |
31 December 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Riptide Pools Limited (Registered number: 06356472) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Riptide Pools Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The company is part of a group. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
No significant judgements or estimations have been applied in the preparation of the financial statements. |
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Turnover |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. |
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Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life: |
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- Plant and machinery etc - 20% on reducing balance, 33% straight line and 20% straight line |
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Government grants |
Grants are accounted under the accruals model as permitted by FRS 102. |
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Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to and from related parties. |
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Riptide Pools Limited (Registered number: 06356472) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Creditors |
Short term creditors are measured at the transaction price. |
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Other financial liabilities are measured initially and subsequently at fair value net of transaction costs, which is not materially different to amortised cost using the effective interest rate method. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Riptide Pools Limited (Registered number: 06356472) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 January 2021 |
and 31 December 2021 |
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AMORTISATION |
At 1 January 2021 |
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Charge for year |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2021 |
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Additions |
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At 31 December 2021 |
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DEPRECIATION |
At 1 January 2021 |
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Charge for year |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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Riptide Pools Limited (Registered number: 06356472) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Amounts owed to related parties |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | ULTIMATE CONTROLLING PARTY |
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The company's immediate parent is Allseas Spas & Wellness Holding B.V. a company incorporated in the Netherlands, whose registered office is 51 Spectrumlaan, 2665nm, Bleiswijk, Netherlands. |
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The controlling party is Mr H E Zhikeng by virtue of his shareholding in the ultimate group. |