CELTIC COOLING AND HEATING LIMITED

Company Registration Number:
04956373 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2023

Period of accounts

Start date: 01 February 2022

End date: 31 January 2023

CELTIC COOLING AND HEATING LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2023

Balance sheet
Notes

CELTIC COOLING AND HEATING LIMITED

Balance sheet

As at 31 January 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 8,141 10,682
Total fixed assets: 8,141 10,682
Current assets
Stocks: 58,156 38,013
Debtors: 4 23,652 16,841
Cash at bank and in hand: 14,642 15,160
Total current assets: 96,450 70,014
Creditors: amounts falling due within one year: 5 (110,150) (86,972)
Net current assets (liabilities): (13,700) (16,958)
Total assets less current liabilities: (5,559) (6,276)
Provision for liabilities: (1,547) (2,029)
Total net assets (liabilities): (7,106) (8,305)
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: (8,106) (9,305)
Shareholders funds: (7,106) (8,305)

The notes form part of these financial statements

CELTIC COOLING AND HEATING LIMITED

Balance sheet statements

For the year ending 31 January 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 15 May 2023
and signed on behalf of the board by:

Name: R O Roberts
Status: Director

The notes form part of these financial statements

CELTIC COOLING AND HEATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets and depreciation policy

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.Plant and machinery 20% straight line.Vehicles 25% reducing balance.

Valuation and information policy

Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.

Other accounting policies

1. Taxation. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. 2. Short term debtors and creditors. Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss. 3. Cash and cash equivalents. Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. 4. Employee benefits. The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund. 5. Leased assets. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.

CELTIC COOLING AND HEATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

2. Employees

2023 2022
Average number of employees during the period 3 3

CELTIC COOLING AND HEATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

3. Tangible Assets

Total
Cost £
At 01 February 2022 75,302
Additions 1,554
At 31 January 2023 76,856
Depreciation
At 01 February 2022 64,620
Charge for year 4,095
At 31 January 2023 68,715
Net book value
At 31 January 2023 8,141
At 31 January 2022 10,682

CELTIC COOLING AND HEATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

4. Debtors

2023 2022
££
Debtors due after more than one year: 0 0

CELTIC COOLING AND HEATING LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2023

5. Creditors: amounts falling due within one year note

Trade creditors £29,626.Corporation Tax £42,697.Other taxes and social security £21,215.Director's loan account £10,101.Other creditors £3,686.Accruals and deferred income £2,825.