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REGISTERED NUMBER: 03744696 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

COOLFIT CONVERSIONS LIMITED

COOLFIT CONVERSIONS LIMITED (REGISTERED NUMBER: 03744696)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COOLFIT CONVERSIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTOR: Mr T Hadrys





SECRETARY: Mr T Hadrys





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 03744696 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

COOLFIT CONVERSIONS LIMITED (REGISTERED NUMBER: 03744696)

BALANCE SHEET
28 FEBRUARY 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 506 56
Cash at bank 62,696 59,765
63,202 59,821
CREDITORS
Amounts falling due within one year 5 14,586 18,622
NET CURRENT ASSETS 48,616 41,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,616

41,199

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 48,612 41,195
SHAREHOLDERS' FUNDS 48,616 41,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 July 2024 and were signed by:





Mr T Hadrys - Director


COOLFIT CONVERSIONS LIMITED (REGISTERED NUMBER: 03744696)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1. 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.

Turnover
Turnover represents sales of building services net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer or at the point where the customer is entitled to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

COOLFIT CONVERSIONS LIMITED (REGISTERED NUMBER: 03744696)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024

3. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 2,200 772 2,972
Disposals (2,200 ) - (2,200 )
At 28 February 2024 - 772 772
DEPRECIATION
At 1 March 2023 2,200 772 2,972
Eliminated on disposal (2,200 ) - (2,200 )
At 28 February 2024 - 772 772
NET BOOK VALUE
At 28 February 2024 - - -
At 28 February 2023 - - -

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 506 56

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 9,064 10,878
Social security and other taxes 325 356
VAT 3,074 5,512
Directors' loan accounts 64 36
Accrued expenses 2,059 1,840
14,586 18,622

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 9,600 9,600

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, T Hadrys increased his loan to the company. As at 28 February 2024, the company owed him £64 (2023: £36). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

In addition the company paid T Hadrys rent amounting to £312 (2023: £312) as a result of utilising office space within their home.

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr T Hadrys.

This is by virtue of their 75% holding of the issued share capital.