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COMPANY REGISTRATION NUMBER: 11237513
City & County Refrigeration and Air Conditioning Limited
Filleted Unaudited Financial Statements
31 March 2023
City & County Refrigeration and Air Conditioning Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
37,837
4,214
Current assets
Debtors
6
42,869
61,291
Cash at bank and in hand
196,719
113,184
---------
---------
239,588
174,475
Creditors: amounts falling due within one year
7
76,983
67,671
---------
---------
Net current assets
162,605
106,804
---------
---------
Total assets less current liabilities
200,442
111,018
Creditors: amounts falling due after more than one year
8
23,799
---------
---------
Net assets
176,643
111,018
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
176,642
111,017
---------
---------
Shareholders funds
176,643
111,018
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
City & County Refrigeration and Air Conditioning Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 13 February 2024 , and are signed on behalf of the board by:
Mr D Adams
Director
Company registration number: 11237513
City & County Refrigeration and Air Conditioning Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 36 Fairhaven Road, Bicester, Oxfordshire, OX27 8TX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the amount of current tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2022
3,099
3,260
6,359
Additions
35,528
35,528
-------
--------
-------
--------
At 31 March 2023
3,099
35,528
3,260
41,887
-------
--------
-------
--------
Depreciation
At 1 April 2022
1,729
416
2,145
Charge for the year
343
851
711
1,905
-------
--------
-------
--------
At 31 March 2023
2,072
851
1,127
4,050
-------
--------
-------
--------
Carrying amount
At 31 March 2023
1,027
34,677
2,133
37,837
-------
--------
-------
--------
At 31 March 2022
1,370
2,844
4,214
-------
--------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
39,286
34,249
Other debtors
3,583
27,042
--------
--------
42,869
61,291
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
8,379
13,940
Corporation tax
14,162
21,664
Social security and other taxes
8,980
Other creditors
54,442
23,087
--------
--------
76,983
67,671
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
23,799
--------
----