Registered number
09847435
Advance Air Conditioning Ltd
Report and Accounts
31 October 2023
Advance Air Conditioning Ltd
Report to the directors on the preparation of the unaudited statutory accounts of Advance Air Conditioning Ltd for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Advance Air Conditioning Ltd for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
Nottinghamshire
NG8 2BE
9 November 2023
Advance Air Conditioning Ltd
Registered number: 09847435
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 61,140 39,607
Current assets
Debtors 4 46,090 122,342
Cash at bank and in hand 110,300 112,888
156,390 235,230
Creditors: amounts falling due within one year 5 (189,840) (238,327)
Net current liabilities (33,450) (3,097)
Net assets 27,690 36,510
Capital and reserves
Called up share capital 13 13
Profit and loss account 27,677 36,497
Shareholders' funds 27,690 36,510 -
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 E Lee
Director
Approved by the board on 9 November 2023
Advance Air Conditioning Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
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 8 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 23,113 84,135 107,248
Additions 1,456 30,991 32,447
At 31 October 2023 24,569 115,126 139,695
Depreciation
At 1 November 2022 8,365 59,276 67,641
Charge for the year 1,377 9,537 10,914
At 31 October 2023 9,742 68,813 78,555
Net book value 14,827 46,313 61,140
At 31 October 2023 14,827 46,313 61,140
At 31 October 2022 14,748 24,859 39,607
4 Debtors 2023 2022
£ £
Trade debtors 44,210 122,342
Other debtors 1,880 -
46,090 122,342
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 26,538 36,368
Obligations under finance lease and hire purchase contracts 26,303 9,049
Trade creditors 20,249 82,609
Corporation tax 19,749 27,239
Other taxes and social security costs (6,491) (20,049)
Other creditors 103,492 103,111
189,840 238,327
6 Secured Creditors 2023 2022
£ £
Creditors include:
Hire purchase contracts 26,303 9,049
The hire purchase contracts are secured on the assets to which they relate.
7 Other information
Advance Air Conditioning Ltd is a private company limited by shares and incorporated in England. Its registered office is:
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
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