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Registration number: 06758453

4 Seasons Air Conditioning Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Company Information

Directors

Mr G I Williamson

Mr G Whalley

Mr D Hurter

Registered office

80 Langstone Drive
Exmouth
Devon
EX8 4JD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

45,589

31,996

Current assets

 

Stocks

5

5,000

5,000

Debtors

6

230,154

247,339

Cash at bank and in hand

 

215,040

241,916

 

450,194

494,255

Creditors: Amounts falling due within one year

7

(266,090)

(309,546)

Net current assets

 

184,104

184,709

Total assets less current liabilities

 

229,693

216,705

Creditors: Amounts falling due after more than one year

7

(30,384)

(46,773)

Provisions for liabilities

(10,230)

(6,757)

Net assets

 

189,079

163,175

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

188,979

163,075

Total equity

 

189,079

163,175

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Balance Sheet as at 31 December 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:
 

.........................................
Mr G I Williamson
Director

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
80 Langstone Drive
Exmouth
Devon
EX8 4JD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line basis

Motor vehicles

20% straight line basis

Fixtures and fittings

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2022 - 10).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

17,963

37,390

12,770

68,123

Additions

5,336

24,713

-

30,049

At 31 December 2023

23,299

62,103

12,770

98,172

Depreciation

At 1 January 2023

14,147

12,477

9,503

36,127

Charge for the year

2,375

13,113

968

16,456

At 31 December 2023

16,522

25,590

10,471

52,583

Carrying amount

At 31 December 2023

6,777

36,513

2,299

45,589

At 31 December 2022

3,816

24,913

3,267

31,996

5

Stocks

2023
£

2022
£

Other stocks

5,000

5,000

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

2023
£

2022
£

Trade debtors

15,063

73,130

Other debtors

212,394

171,123

Prepayments and accrued income

2,697

3,086

Total current trade and other debtors

230,154

247,339

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

16,389

16,470

Trade creditors

 

20,590

61,801

Taxation and social security

 

53,729

62,490

Other creditors

 

167,237

162,097

Accrued expenses

 

8,145

6,688

 

266,090

309,546

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

30,384

46,773

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

6,000

6,000

Bank overdrafts

-

82

Other borrowings

10,389

10,388

16,389

16,470

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

29,204

35,204

Other borrowings

1,180

11,569

30,384

46,773

9

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr G Whalley

Interest free loan repayable on demand

-

8,706

(1,388)

7,318

         
       

Mr G I Williamson

Interest free loan repayable on demand

72,269

127,747

(48,200)

151,816

         
       

Mr D Hurter

Interest free loan repayable on demand

2,900

12,412

(15,312)

-

         
       

 

 

4 Seasons Air Conditioning Limited
(Registration number: 06758453)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Mr G I Williamson

Interest free loan repayable on demand

58,732

92,576

(79,039)

72,269

         
       

Mr D Hurter

Interest free loan repayable on demand

-

6,900

(4,000)

2,900