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REGISTERED NUMBER: 03907391 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

COOLPOINT LTD

COOLPOINT LTD (REGISTERED NUMBER: 03907391)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COOLPOINT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: T E Bharat
N Bharat
P A Mayhew
I A Shah
D M Shah



SECRETARY: I A Shah



REGISTERED OFFICE: Bridge Road North
Redwither Industrial Estate
Wrexham
LL13 9PS



REGISTERED NUMBER: 03907391 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
10 Nicholas Street
Chester
CH1 2NX



BANKERS: Lloyds Bank plc
28, Regent Street
Wrexham
LL11 1SE

COOLPOINT LTD (REGISTERED NUMBER: 03907391)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,089 6,269
Tangible assets 5 858,304 824,332
860,393 830,601

CURRENT ASSETS
Stocks 6 101,010 168,988
Debtors 7 165,137 78,306
Cash at bank and in hand 810,966 609,388
1,077,113 856,682
CREDITORS
Amounts falling due within one year 8 375,335 301,213
NET CURRENT ASSETS 701,778 555,469
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,562,171

1,386,070

PROVISIONS FOR LIABILITIES 9 7,410 11,320
NET ASSETS 1,554,761 1,374,750

CAPITAL AND RESERVES
Called up share capital 186,000 186,000
Share premium 10 130,000 130,000
Retained earnings 10 1,238,761 1,058,750
1,554,761 1,374,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

COOLPOINT LTD (REGISTERED NUMBER: 03907391)

BALANCE SHEET - continued
31ST DECEMBER 2023


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 11th September 2024 and were signed on its behalf by:





I A Shah - Director


COOLPOINT LTD (REGISTERED NUMBER: 03907391)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Coolpoint Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software are being amortised evenly over their estimated useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - at variable rates on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

COOLPOINT LTD (REGISTERED NUMBER: 03907391)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st January 2023
and 31st December 2023 8,359
AMORTISATION
At 1st January 2023 2,090
Charge for year 4,180
At 31st December 2023 6,270
NET BOOK VALUE
At 31st December 2023 2,089
At 31st December 2022 6,269

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1st January 2023 866,022 134,719 41,058 1,041,799
Additions - 27,107 61,980 89,087
Disposals - (3,383 ) (41,058 ) (44,441 )
At 31st December 2023 866,022 158,443 61,980 1,086,445
DEPRECIATION
At 1st January 2023 86,958 115,729 14,780 217,467
Charge for year 8,660 7,593 12,396 28,649
Eliminated on disposal - (3,195 ) (14,780 ) (17,975 )
At 31st December 2023 95,618 120,127 12,396 228,141
NET BOOK VALUE
At 31st December 2023 770,404 38,316 49,584 858,304
At 31st December 2022 779,064 18,990 26,278 824,332

COOLPOINT LTD (REGISTERED NUMBER: 03907391)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Included in cost of land and buildings is freehold land of £ 433,011 (2022 - £ 433,011 ) which is not depreciated.

6. STOCKS
31.12.23 31.12.22
£    £   
Stocks 101,010 168,988

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 152,937 61,582
Other debtors - 4,600
Prepayments and accrued income 12,200 12,124
165,137 78,306

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 32,409 28,665
Tax 61,967 20,799
Social security and other taxes 27,732 23,749
VAT 41,923 34,736
Other creditors 80,000 80,000
Directors' current accounts 28,797 14,558
Accrued expenses 102,507 98,706
375,335 301,213

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 7,410 11,320

Deferred
tax
£   
Balance at 1st January 2023 11,320
Changes in tax rates
Changes in tax allowances (3,910 )
Balance at 31st December 2023 7,410

COOLPOINT LTD (REGISTERED NUMBER: 03907391)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1st January 2023 1,058,750 130,000 1,188,750
Profit for the year 180,011 180,011
At 31st December 2023 1,238,761 130,000 1,368,761

11. RELATED PARTY DISCLOSURES

At 31 December, 2023 the company owed the following loans:

- £80,000 (2022: £80,000) to L Fat a shareholder. No interest has been charged in respect of this loan which is repayable on demand and included in creditors due within one year.




12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I A Shah.