2022-12-012023-11-302023-11-30false09892502INTERKOOL REFRIGERATION & AIR CONDITIONING 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INTERKOOL REFRIGERATION & AIR CONDITIONING LTD

Registered Number
09892502
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

INTERKOOL REFRIGERATION & AIR CONDITIONING LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

WALKER, Collin

Registered Address

28 Tynemouth Road
North Shields
NE30 4AA

Registered Number

09892502 (England and Wales)
INTERKOOL REFRIGERATION & AIR CONDITIONING LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets343,82852,738
43,82852,738
Current assets
Debtors18,14525,172
Cash at bank and on hand68,55154,525
86,69679,697
Creditors amounts falling due within one year4(73,305)(54,086)
Net current assets (liabilities)13,39125,611
Total assets less current liabilities57,21978,349
Creditors amounts falling due after one year5(32,328)(60,260)
Net assets24,89118,089
Capital and reserves
Called up share capital11
Profit and loss account24,89018,088
Shareholders' funds24,89118,089
The financial statements were approved and authorised for issue by the Director on 2 August 2024, and are signed on its behalf by:
WALKER, Collin
Director
Registered Company No. 09892502
INTERKOOL REFRIGERATION & AIR CONDITIONING LTD
Notes to the Financial Statements
for the year ended 30 November 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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:

Reducing balance (%)
Fixtures and fittings15
Vehicles20
Office Equipment25
2.Average number of employees

20232022
Average number of employees during the year55
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 December 2276,24035,7366,840118,816
Additions-1,583-1,583
At 30 November 2376,24037,3196,840120,399
Depreciation and impairment
At 01 December 2234,06827,5384,47266,078
Charge for year8,4341,46759210,493
At 30 November 2342,50229,0055,06476,571
Net book value
At 30 November 2333,7388,3141,77643,828
At 30 November 2242,1728,1982,36852,738
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables48,16337,019
Bank borrowings and overdrafts-7,748
Taxation and social security25,1428,916
Other creditors-403
Total73,30554,086
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.
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts30,68241,631
Other creditors1,64618,629
Total32,32860,260
6.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts1,64618,629