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REGISTERED NUMBER: 02598183 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

TOTAL PROCESS COOLING LIMITED

TOTAL PROCESS COOLING LIMITED (REGISTERED NUMBER: 02598183)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TOTAL PROCESS COOLING LIMITED

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTORS: M C Jordan
I Lowe





REGISTERED OFFICE: Unit F Tame Park Vanguard
Wilnecote
Tamworth
Staffordshire
B77 5DY





REGISTERED NUMBER: 02598183 (England and Wales)





AUDITORS: Magma Audit LLP
Chartered Accountants
Statutory Auditor
Unit 2, Charnwood Edge Business Park
Syston Road
Leicestershire
LE7 4UZ

TOTAL PROCESS COOLING LIMITED (REGISTERED NUMBER: 02598183)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 655 -
Cash at bank 38,365 40,937
39,020 40,937
CREDITORS
Amounts falling due within one year 5 (24,035 ) (25,952 )
NET CURRENT ASSETS 14,985 14,985
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,985

14,985

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,885 14,885
14,985 14,985

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2024 and were signed on its behalf by:





M C Jordan - Director


TOTAL PROCESS COOLING LIMITED (REGISTERED NUMBER: 02598183)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Total Process Cooling Limited is a private limited company, limited by shares, registered in England and Wales. The company's registered number is 02598183 and the registered office address is Unit F, Tame Park Vanguard, Wilnecote, Tamworth, Staffordshire, B77 5DY.

2. ACCOUNTING POLICIES

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

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to meet any liabilities as they fall due. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured as as the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

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.

Rendering of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred in respect of the transaction can be measured reliably.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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.


TOTAL PROCESS COOLING LIMITED (REGISTERED NUMBER: 02598183)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 599 -
Other debtors 56 -
655 -

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 23,191 25,108
Social security and other taxes 844 844
24,035 25,952

TOTAL PROCESS COOLING LIMITED (REGISTERED NUMBER: 02598183)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


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

The Report of the Auditors was unqualified.

Paul Orton FCA FCCA (Senior Statutory Auditor)
for and on behalf of Magma Audit LLP