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REGISTERED NUMBER: 02156198 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

COOL TOOLS LTD

COOL TOOLS LTD (REGISTERED NUMBER: 02156198)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COOL TOOLS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: A du Thoit
Mrs V du Thoit





REGISTERED OFFICE: 144 St James's Road
Croydon
Surrey
CR0 2UY





REGISTERED NUMBER: 02156198 (England and Wales)





ACCOUNTANTS: Averillo & Associates
16 South End
Croydon
Surrey
CR0 1DN

COOL TOOLS LTD (REGISTERED NUMBER: 02156198)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 704

CURRENT ASSETS
Debtors 5 - 3,612

CREDITORS
Amounts falling due within one year 6 9,365 11,933
NET CURRENT LIABILITIES (9,365 ) (8,321 )
TOTAL ASSETS LESS CURRENT LIABILITIES (9,365 ) (7,617 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 8 (9,367 ) (7,619 )
SHAREHOLDERS' FUNDS (9,365 ) (7,617 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 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 Board of Directors and authorised for issue on 24 August 2022 and were signed on its behalf by:





Mrs V du Thoit - Director


COOL TOOLS LTD (REGISTERED NUMBER: 02156198)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Cool Tools 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Computer equipment - 15% on 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

COOL TOOLS LTD (REGISTERED NUMBER: 02156198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2021 4,289 12,731 17,020
Disposals (4,289 ) (12,731 ) (17,020 )
At 31 March 2022 - - -
DEPRECIATION
At 1 April 2021 4,289 12,027 16,316
Charge for year - 704 704
Eliminated on disposal (4,289 ) (12,731 ) (17,020 )
At 31 March 2022 - - -
NET BOOK VALUE
At 31 March 2022 - - -
At 31 March 2021 - 704 704

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Tax - 3,612

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Directors' current account 9,015 11,583
Accrued expenses 350 350
9,365 11,933

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2 Ordinary £1 2 2

8. RESERVES
Retained
earnings
£   

At 1 April 2021 (7,619 )
Deficit for the year (1,748 )
At 31 March 2022 (9,367 )

COOL TOOLS LTD (REGISTERED NUMBER: 02156198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


9. ULTIMATE CONTROLLING PARTY

The controlling party is Directors.