Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31882022-11-01falseThe principal activity of the Company throughout the year continued to be the supply, installation and maintenance of air conditioning equipment.truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05426810 2022-11-01 2023-10-31 05426810 2021-11-01 2022-10-31 05426810 2023-10-31 05426810 2022-10-31 05426810 2021-11-01 05426810 c:Director1 2022-11-01 2023-10-31 05426810 d:Buildings d:LongLeaseholdAssets 2022-11-01 2023-10-31 05426810 d:Buildings d:LongLeaseholdAssets 2023-10-31 05426810 d:Buildings d:LongLeaseholdAssets 2022-10-31 05426810 d:PlantMachinery 2022-11-01 2023-10-31 05426810 d:PlantMachinery 2023-10-31 05426810 d:PlantMachinery 2022-10-31 05426810 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 05426810 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 05426810 d:MotorVehicles 2022-11-01 2023-10-31 05426810 d:MotorVehicles 2023-10-31 05426810 d:MotorVehicles 2022-10-31 05426810 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 05426810 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 05426810 d:OfficeEquipment 2022-11-01 2023-10-31 05426810 d:OfficeEquipment 2023-10-31 05426810 d:OfficeEquipment 2022-10-31 05426810 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 05426810 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 05426810 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 05426810 d:LeasedAssetsHeldAsLessee 2022-11-01 2023-10-31 05426810 d:Goodwill 2023-10-31 05426810 d:Goodwill 2022-10-31 05426810 d:CurrentFinancialInstruments 2023-10-31 05426810 d:CurrentFinancialInstruments 2022-10-31 05426810 d:Non-currentFinancialInstruments 2023-10-31 05426810 d:Non-currentFinancialInstruments 2022-10-31 05426810 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 05426810 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 05426810 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 05426810 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 05426810 d:ShareCapital 2023-10-31 05426810 d:ShareCapital 2022-10-31 05426810 d:RetainedEarningsAccumulatedLosses 2023-10-31 05426810 d:RetainedEarningsAccumulatedLosses 2022-10-31 05426810 c:FRS102 2022-11-01 2023-10-31 05426810 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 05426810 c:FullAccounts 2022-11-01 2023-10-31 05426810 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 05426810 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 05426810 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 05426810 d:RetirementBenefitObligationsDeferredTax 2023-10-31 05426810 d:RetirementBenefitObligationsDeferredTax 2022-10-31 05426810 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-10-31 05426810 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-10-31 05426810 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-10-31 05426810 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-10-31 05426810 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-10-31 05426810 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-10-31 05426810 d:LeasedAssetsHeldAsLessee 2023-10-31 05426810 d:LeasedAssetsHeldAsLessee 2022-10-31 05426810 d:Goodwill d:OwnedIntangibleAssets 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 05426810










AIR CONDITIONING SERVICES (GB) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
AIR CONDITIONING SERVICES (GB) LIMITED
REGISTERED NUMBER: 05426810

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
7,917
12,917

Tangible assets
 5 
172,756
169,859

  
180,673
182,776

Current assets
  

Stocks
  
6,300
6,000

Debtors: amounts falling due within one year
 6 
151,364
134,410

Cash at bank and in hand
  
53
53

  
157,717
140,463

Creditors: amounts falling due within one year
 7 
(207,311)
(182,050)

Net current liabilities
  
 
 
(49,594)
 
 
(41,587)

Total assets less current liabilities
  
131,079
141,189

Creditors: amounts falling due after more than one year
 8 
(123,190)
(123,830)

Provisions for liabilities
  

Deferred tax
 9 
(10,722)
(8,326)

Net (liabilities)/assets
  
(2,833)
9,033


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(2,933)
8,933

  
(2,833)
9,033


Page 1

 
AIR CONDITIONING SERVICES (GB) LIMITED
REGISTERED NUMBER: 05426810
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 February 2024.




J Brown
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
AIR CONDITIONING SERVICES (GB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Air Conditioning Services (GB) Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 05426810). Its registered office is Cobnar Wood Close, Chesterfield Trading Estate, Chesterfield, Derbyshire, S41 9RQ. The principal activity of the Company throughout the year continued to be that of the supply, installation and maintenance of air conditioning equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
AIR CONDITIONING SERVICES (GB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of Income and Retained Earnings at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.4

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life, which is twenty years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.

Page 4

 
AIR CONDITIONING SERVICES (GB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).

Page 5

 
AIR CONDITIONING SERVICES (GB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 November 2022
100,000



At 31 October 2023

100,000



Amortisation


At 1 November 2022
87,083


Charge for the year on owned assets
5,000



At 31 October 2023

92,083



Net book value



At 31 October 2023
7,917



At 31 October 2022
12,917



Page 6

 
AIR CONDITIONING SERVICES (GB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Tangible fixed assets





L/Term Leasehold Property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost


At 1 November 2022
31,561
4,969
183,824
35,537
255,891


Additions
-
9,000
74,244
7,738
90,982


Disposals
-
-
(71,970)
(4,255)
(76,225)



At 31 October 2023

31,561
13,969
186,098
39,020
270,648



Depreciation


At 1 November 2022
-
4,606
60,145
21,281
86,032


Charge for the year on owned assets
-
91
2,025
1,973
4,089


Charge for the year on financed assets
-
750
27,133
317
28,200


Disposals
-
-
(19,117)
(1,312)
(20,429)



At 31 October 2023

-
5,447
70,186
22,259
97,892



Net book value



At 31 October 2023
31,561
8,522
115,912
16,761
172,756



At 31 October 2022
31,561
363
123,679
14,256
169,859

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
8,250
-

Motor vehicles
109,835
120,176

Furniture, fittings and equipment
3,141
-

121,226
120,176

Page 7

 
AIR CONDITIONING SERVICES (GB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
89,909
94,828

Other debtors
61,455
39,582

151,364
134,410



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
61,755
61,486

Bank loans
5,342
5,212

Trade creditors
62,267
45,136

Corporation tax
8,027
16,687

Other taxation and social security
34,885
30,219

Obligations under finance lease and hire purchase contracts
22,936
19,174

Other creditors
12,099
4,136

207,311
182,050


Amounts included within net obligations under finance leases and hire purchase contracts falling due within one year totalling £22,936 (2022: £19,174) are secured against the underlying assets.

Page 8

 
AIR CONDITIONING SERVICES (GB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
32,299
37,633

Net obligations under finance leases and hire purchase contracts
90,891
86,197

123,190
123,830


Amounts included within net obligations under finance leases and hire purchase contracts falling due after more than one year totalling £90,891 (2022: £86,197) are secured against the underlying assets.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable by instalments
9,539
15,434




9.


Deferred taxation




2023
2022


£

£






At beginning of year
8,326
7,168


Charged to profit or loss
2,396
1,158



At end of year
10,722
8,326

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
10,928
8,522

Pension surplus
(206)
(196)

10,722
8,326

Page 9

 
AIR CONDITIONING SERVICES (GB) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £12,723 (2022: £10,247). Contributions totalling £982 (2022: £934) were payable to the fund at the Balance Sheet date and are included in creditors.

 
Page 10