Cool Breeze FM Limited
Unaudited Filleted Accounts
31 March 2023
Registered number
06288006
Cool Breeze FM Limited
Registered number: 06288006
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 18,296 10,283
Current assets
Stocks 9,085 4,980
Debtors 4 322,755 320,073
Cash at bank and in hand 618,270 358,395
950,110 683,448
Creditors: amounts falling due within one year 5 (480,380) (332,175)
Net current assets 469,730 351,273
Total assets less current liabilities 488,026 361,556
Creditors: amounts falling due after more than one year 6 (23,333) (35,196)
Provisions for liabilities (3,476) (1,954)
Net assets 461,217 324,406
Capital and reserves
Called up share capital 100 100
Profit and loss account 461,117 324,306
Shareholders' funds 461,217 324,406
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D A Baardman
Director
Approved by the board on 17 November 2023
Cool Breeze FM Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 including section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
1 Accounting policies continued
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 19
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 16,154 - 16,154
Additions 7,638 3,270 10,908
At 31 March 2023 23,792 3,270 27,062
Depreciation
At 1 April 2022 5,871 - 5,871
Charge for the year 2,691 204 2,895
At 31 March 2023 8,562 204 8,766
Net book value
At 31 March 2023 15,230 3,066 18,296
At 31 March 2022 10,283 - 10,283
4 Debtors 2023 2022
£ £
Trade debtors 247,663 253,897
Other debtors 75,092 66,176
322,755 320,073
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 9,314
Trade creditors 329,304 246,808
Corporation tax 37,603 31,636
Other taxes and social security costs 97,070 38,763
Other creditors 6,403 5,654
480,380 332,175
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,333 35,196
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D A Baardman
Loan - interest free, unsecured and repayable on demand 24,185 12,319 (10,000) 26,504
J Foster
Loan - interest free, unsecured and repayable on demand 23,621 12,320 (10,000) 25,941
47,806 24,639 (20,000) 52,445
8 Other information
Cool Breeze FM Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit A1 The Avenues
Eleventh Avenue North
Team Valley Trading Estate
Gateshead, Tyne & Wear
NE11 0NJ
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