Company No:
Contents
DIRECTOR | Shiv Malik |
REGISTERED OFFICE | C/O Praxis |
1 Poultry | |
London | |
EC2R 8EJ | |
United Kingdom |
COMPANY NUMBER | 13412797 (England and Wales) |
CHARTERED ACCOUNTANTS | Praxis |
1 Poultry | |
London | |
EC2R 8EJ | |
United Kingdom |
Note | 31.05.2022 | |
£ | ||
Fixed assets | ||
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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299,415 | ||
Current assets | ||
Debtors | 6 |
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Cash at bank and in hand |
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141,606 | ||
Creditors | ||
Amounts falling due within one year | 7 | (
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Net current liabilities | (1,073,529) | |
Total assets less current liabilities | (774,114) | |
Net liabilities | (
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Capital and reserves | ||
Called-up share capital | 8 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of Pool Data Ltd (registered number:
Shiv Malik
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Pool Data Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Praxis, 1 Poultry, London, EC2R 8EJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Other intangible assets |
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All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Period from 21.05.2021 to 31.05.2022 |
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Number | |
Monthly average number of persons employed by the Company during the period, including the director |
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Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 21 May 2021 |
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Additions |
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At 31 May 2022 |
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Accumulated amortisation | |||
At 21 May 2021 |
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Charge for the financial period |
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At 31 May 2022 |
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Net book value | |||
At 31 May 2022 |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 21 May 2021 |
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Additions |
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At 31 May 2022 |
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Accumulated depreciation | |||
At 21 May 2021 |
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Charge for the financial period |
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At 31 May 2022 |
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Net book value | |||
At 31 May 2022 |
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Investments in subsidiaries
31.05.2022 | |
£ | |
Cost | |
At 21 May 2021 | 0 |
Additions |
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At 31 May 2022 |
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Carrying value at 31 May 2022 |
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31.05.2022 | |
£ | |
Other debtors |
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31.05.2022 | |
£ | |
Trade creditors |
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Amounts owed to own subsidiaries |
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Other creditors |
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Amounts owed to Group undertakings are repayable on demand and do not bear interest.
31.05.2022 | |
£ | |
Allotted, called-up and fully-paid | |
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The Company had no material capital commitments at the period ended 31 May 2022.