2022-06-012023-05-312023-05-31false06048659Aircon 4 You 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Aircon 4 You Ltd

Registered Number
06048659
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

Aircon 4 You Ltd
Company Information
for the year from 1 June 2022 to 31 May 2023

Director

Militaru, Razvan Constantin

Company Secretary

Militaru, Alina Teodora

Registered Address

Unit 9 25 Greenhill Crescent
Watford Enterprise Centre
Watford
WD18 8XU

Registered Number

06048659 (England and Wales)
Aircon 4 You Ltd
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets311,93028,140
11,93028,140
Current assets
Stocks424,935-
Debtors5,814-
Cash at bank and on hand1,73019,752
32,47919,752
Creditors amounts falling due within one year5(77,102)(56,100)
Net current assets (liabilities)(44,623)(36,348)
Total assets less current liabilities(32,693)(8,208)
Creditors amounts falling due after one year6(76,636)(103,501)
Net assets(109,329)(111,709)
Capital and reserves
Called up share capital1,0001,000
Profit and loss account(110,329)(112,709)
Shareholders' funds(109,329)(111,709)
The financial statements were approved and authorised for issue by the Director on 22 February 2024, and are signed on its behalf by:
Militaru, Razvan Constantin
Director
Registered Company No. 06048659
Aircon 4 You Ltd
Notes to the Financial Statements
for the year ended 31 May 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year20
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 22-60,54017,29277,832
At 31 May 23-60,54017,29277,832
Depreciation and impairment
At 01 June 22-32,40017,29249,692
Charge for year16,210--16,210
At 31 May 2316,21032,40017,29265,902
Net book value
At 31 May 23(16,210)28,140-11,930
At 31 May 22-28,140-28,140
4.Stocks

2023

2022

££
Work in progress24,935-
Total24,935-
5.Creditors: amounts due within one year

2023

2022

££
Taxation and social security34,74214,472
Other creditors42,36014,953
Accrued liabilities and deferred income-26,675
Total77,10256,100
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.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts76,636103,501
Total76,636103,501