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REGISTERED NUMBER: 05073155 (England and Wales)
















Air Conditioning and Electrical Limited

Unaudited Financial Statements

for the Year Ended

31 March 2024






Air Conditioning and Electrical Limited (Registered number: 05073155)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Air Conditioning and Electrical Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D Dean
Mrs T E Dean





SECRETARY: D Dean





REGISTERED OFFICE: 5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL





REGISTERED NUMBER: 05073155 (England and Wales)





ACCOUNTANTS: Moffat Gilbert
5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL

Air Conditioning and Electrical Limited (Registered number: 05073155)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 169,564 160,221

CURRENT ASSETS
Stocks 39,898 59,636
Debtors 5 195,677 168,363
Cash at bank 107,353 158,114
342,928 386,113
CREDITORS
Amounts falling due within one year 6 279,638 323,744
NET CURRENT ASSETS 63,290 62,369
TOTAL ASSETS LESS CURRENT
LIABILITIES

232,854

222,590

CREDITORS
Amounts falling due after more than one
year

7

(8,624

)

(35,975

)

PROVISIONS FOR LIABILITIES (28,461 ) (33,808 )
NET ASSETS 195,769 152,807

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 195,669 152,707
SHAREHOLDERS' FUNDS 195,769 152,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Air Conditioning and Electrical Limited (Registered number: 05073155)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:




D Dean - Director



Mrs T E Dean - Director


Air Conditioning and Electrical Limited (Registered number: 05073155)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Air Conditioning and Electrical Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The turnover is adjusted by the change in values at the accounts reporting date of work in progress which is valued at sale price.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 20% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

Work in progress is valued based on the fair valuations of the stage reached of contracts at the accounts reporting date. The adjustment being made via turnover.

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.

Air Conditioning and Electrical Limited (Registered number: 05073155)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2023 3,977 68,913 2,202
Additions - 1,798 5,959
Disposals - - -
At 31 March 2024 3,977 70,711 8,161
DEPRECIATION
At 1 April 2023 3,977 17,470 1,173
Charge for year - 7,844 428
Eliminated on disposal - - -
At 31 March 2024 3,977 25,314 1,601
NET BOOK VALUE
At 31 March 2024 - 45,397 6,560
At 31 March 2023 - 51,443 1,029

Air Conditioning and Electrical Limited (Registered number: 05073155)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 181,831 23,154 280,077
Additions 58,531 4,319 70,607
Disposals (38,570 ) - (38,570 )
At 31 March 2024 201,792 27,473 312,114
DEPRECIATION
At 1 April 2023 80,006 17,230 119,856
Charge for year 26,677 2,533 37,482
Eliminated on disposal (14,788 ) - (14,788 )
At 31 March 2024 91,895 19,763 142,550
NET BOOK VALUE
At 31 March 2024 109,897 7,710 169,564
At 31 March 2023 101,825 5,924 160,221

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 96,178
Disposals (35,125 )
At 31 March 2024 61,053
DEPRECIATION
At 1 April 2023 11,469
Charge for year 21,178
Eliminated on disposal (12,075 )
At 31 March 2024 20,572
NET BOOK VALUE
At 31 March 2024 40,481
At 31 March 2023 84,709

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 170,935 148,339
Other debtors 300 859
Prepayments 24,442 19,165
195,677 168,363

Air Conditioning and Electrical Limited (Registered number: 05073155)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 8) 13,600 21,115
Trade creditors 107,901 125,757
Tax 31,818 24,982
Social security and other taxes 42,774 37,508
Other creditors 28,711 33,507
Directors' current accounts 1,414 30,683
Deferred income - 4,083
Accrued expenses 53,420 46,109
279,638 323,744

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 8) 8,624 35,975

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.24 31.3.23
£    £   
Gross obligations repayable:
Within one year 14,191 23,336
Between one and five years 8,729 37,400
22,920 60,736

Finance charges repayable:
Within one year 591 2,221
Between one and five years 105 1,425
696 3,646

Net obligations repayable:
Within one year 13,600 21,115
Between one and five years 8,624 35,975
22,224 57,090

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

Air Conditioning and Electrical Limited (Registered number: 05073155)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

In the year dividends in aggregate at £43,500 (2023 £60,000) was paid to the directors. At 31 March 2024, the company owed the directors £1,414 (2023 £30,683) in undrawn sums owed to them.

11. ULTIMATE CONTROLLING PARTY

The two directors are also the only shareholders and thus are considered to be joint controlling parties of the company.