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Cooling Solutions Ltd
Registered Number:08906323
For the year ended 28 February 2023
England and Wales
Unaudited Financial Statements
2
Registered Number :
08906323
As at 28 February 2023
Cooling Solutions Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
12,430
14,931
3
12,430
14,931
Current assets
Trade and other receivables
34,188
66,494
4
22,295
Cash and cash equivalents
-
66,494
56,483
Trade and other payables: amounts falling due within one
year
(37,476)
(44,239)
5
19,007
22,255
Net current assets
Total assets less current liabilities
34,685
33,938
Trade and other payables: amounts falling due after more
than one year
(22,679)
(12,127)
6
22,558
Net assets
11,259
Capital and reserves
Called up share capital
1,000
1,000
Retained earnings
21,558
10,259
22,558
11,259
Shareholders' funds
For the year ended 28 February 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Richard Court Director
These financial statements were approved and authorised for issue by the Board on 15 January 2023 and were signed by:
The notes form part of these financial statements
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3
For the year ended 28 February 2023
Cooling Solutions Ltd
Notes to the Financial Statements
Statutory Information
Cooling Solutions Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 08906323.
Registered address:
44 Lawn Lane
Chelmsford
Essex
CM1 6NR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 5 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20% Reducing balance
25% Reducing balance
Motor vehicles
20% Reducing balance
Office equipment
Hire purchase and leasing commitments
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
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4
For the year ended 28 February 2023
Cooling Solutions Ltd
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 March 2022
20,000
At 28 February 2023
20,000
Amortisation
At 01 March 2022
20,000
At 28 February 2023
20,000
Net book value
At 28 February 2023
-
At 28 February 2022
-
3. Property, plant and equipment
Total
Office
equipment
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 March 2022
77,606
5,272
69,333
3,001
748
748
-
-
Additions
At 28 February 2023
3,001
69,333
6,020
78,354
Provision for depreciation and impairment
At 01 March 2022
62,675
4,224
56,463
1,988
Charge for year
3,249
209
2,890
150
At 28 February 2023
65,924
4,433
59,353
2,138
At 28 February 2023
Net book value
863
9,980
1,587
12,430
At 28 February 2022
1,013
12,870
1,048
14,931
4. Trade and other receivables
2022
2023
£
£
Trade debtors
53,810
22,628
Amounts owed by directors
12,684
-
Taxation and social security
-
11,560
34,188
66,494
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5
For the year ended 28 February 2023
Cooling Solutions Ltd
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
3,631
-
Trade creditors
10,184
19,966
Taxation and social security
26,044
13,521
Accruals and deferred income
4,380
3,400
Directors' loan accounts
-
589
44,239
37,476
6. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
12,127
22,679
7. Related party transactions
The company is controlled by the Director Richard Court who has control over 100% of the voting rights of the
company together with his immediate associates.
During the year the Director Richard Court was paid interim ordinary dividends in the sum of £30,800 (2022:
£20,150).
8. Directors advances and guarantees
At 01/03/2022
Loaned
At 28/02/2023
£
£
£
Richard Court
Director Interest free loan
12,684
-
12,684
12,684
-
12,684
9. Average number of persons employed
During the year the average number of employees was 2 (2022 : 2)
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