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REGISTERED NUMBER: 02789189 (England and Wales)















Cool Stop Air Conditioning Limited

Financial Statements

for the Period 1 April 2023 to 30 September 2023






Cool Stop Air Conditioning Limited (Registered number: 02789189)






Contents of the Financial Statements
for the Period 1 April 2023 to 30 September 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


Cool Stop Air Conditioning Limited

Company Information
for the Period 1 April 2023 to 30 September 2023







DIRECTORS: R A F Lloyd
Mrs R M Lloyd



REGISTERED OFFICE: Unit 1D
Polden Business Centre
Bristol Road
BRIDGWATER
Somerset
TA6 4AW



REGISTERED NUMBER: 02789189 (England and Wales)



AUDITORS: Maxwells
Chartered Accountants
and Statutory Auditor
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Lloyds Bank plc
25 Cornhill
Bridgwater
Somerset
TA6 3AY

Cool Stop Air Conditioning Limited (Registered number: 02789189)

Abridged Statement of Financial Position
30 September 2023

30.9.23 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 1 1
Tangible assets 6 25,353 92,936
25,354 92,937

CURRENT ASSETS
Stocks 783,484 818,338
Debtors 699,320 521,011
Cash at bank 8,052 8,904
1,490,856 1,348,253
CREDITORS
Amounts falling due within one year 1,189,051 1,124,439
NET CURRENT ASSETS 301,805 223,814
TOTAL ASSETS LESS CURRENT
LIABILITIES

327,159

316,751

CREDITORS
Amounts falling due after more than one
year

7

166,352

252,138
NET ASSETS 160,807 64,613

CAPITAL AND RESERVES
Called up share capital 362,000 362,000
Retained earnings (201,193 ) (297,387 )
SHAREHOLDERS' FUNDS 160,807 64,613

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the period ended 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by:





R A F Lloyd - Director


Cool Stop Air Conditioning Limited (Registered number: 02789189)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 September 2023

1. STATUTORY INFORMATION

Cool Stop Air Conditioning Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

The financial statements have been prepared in accordance with applicable accounting standards and estimation techniques.

At the time of approving the financial statements the director has a reasonable expectation that the Company has adequate resources to continue in operation existence for the foreseeable future.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - over life of lease
Plant and machinery etc - 25% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Cool Stop Air Conditioning Limited (Registered number: 02789189)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 September 2023

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2023 - 17 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 30 September 2023 1
NET BOOK VALUE

At 30 September 2023 1
At 31 March 2023 1

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 308,479
Additions 8,881
Disposals (198,374 )
At 30 September 2023 118,986
DEPRECIATION
At 1 April 2023 215,543
Charge for period 14,874
Eliminated on disposal (136,784 )
At 30 September 2023 93,633
NET BOOK VALUE
At 30 September 2023 25,353
At 31 March 2023 92,936

Cool Stop Air Conditioning Limited (Registered number: 02789189)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 September 2023

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 95,935
Transfer to ownership (81,135 )
At 30 September 2023 14,800
DEPRECIATION
At 1 April 2023 52,307
Charge for period 7,310
Transfer to ownership (50,367 )
At 30 September 2023 9,250
NET BOOK VALUE
At 30 September 2023 5,550
At 31 March 2023 43,628

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30.9.23 31.3.23
£    £   
Repayable by instalments
Other loans 78,240 95,092

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.23 31.3.23
£    £   
Net obligations repayable:
Within one year - 23,148
Between one and five years - 31,237
- 54,385

Non-cancellable operating leases
30.9.23 31.3.23
£    £   
Within one year 2,819 23,392
Between one and five years - 575,000
In more than five years 452,500 -
455,319 598,392

Cool Stop Air Conditioning Limited (Registered number: 02789189)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 September 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 31.3.23
£    £   
Bank overdrafts 384,651 304,367
Other loans 165,740 182,592
Hire purchase contracts - 54,385
550,391 541,344

Bank overdrafts are secured by a fixed and floating charge over the assets of the company.

Amounts due under an invoice discounting agreement with Lloyds Commercial Finance Limited, included within bank overdrafts, are secured over specifically secured trade debtors.

Amounts due on hire purchase contracts are secured over the relevant specific assets held.

Other loans are secured over the stock held by the company.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Blannin (Senior Statutory Auditor)
for and on behalf of Maxwells

11. RELATED PARTY DISCLOSURES

During the year the company had balances with companies in which RAF Lloyd, the director has an interest.


Company name

Balance at
30.9.23
Balance at
31.3.23
£    £   


The Enviroshop Limited 85,304 (11,144 )

Vidoflex UK Limited 46,957 56,991


Transactions were at arms length and at current market value, and consist of recharges, sales of goods and working capital.

The company also owes £165,740 at the year-end as a loan to the SWM Distribution Limited EPS pension fund in which the directors are beneficiaries. Terms were agreed with the independent pension administrator and are noted as at arms length.

12. ULTIMATE CONTROLLING PARTY

The company was controlled during the current and previous periods by its sole director, Mr R A F Lloyd, by virtue of the fact that he owns the majority of the company's issued share capital.