1 November 2022 false Taxfiler 2024.5 10453926business:PrivateLimitedCompanyLtd2022-11-012023-10-31 104539262022-10-31 104539262022-11-012023-10-31 10453926business:AuditExemptWithAccountantsReport2022-11-012023-10-31 10453926business:FilletedAccounts2022-11-012023-10-31 104539262023-10-31 10453926business:Director12022-11-012023-10-31 10453926business:RegisteredOffice2022-11-012023-10-31 104539262022-10-31 10453926core:WithinOneYear2023-10-31 10453926core:WithinOneYear2022-10-31 10453926core:AfterOneYear2023-10-31 10453926core:AfterOneYear2022-10-31 10453926core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 10453926core:ShareCapitalcore:PreviouslyStatedAmount2022-10-31 10453926core:RevaluationReservecore:PreviouslyStatedAmount2023-10-31 10453926core:RevaluationReservecore:PreviouslyStatedAmount2022-10-31 10453926core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 10453926core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 10453926core:PreviouslyStatedAmount2023-10-31 10453926core:PreviouslyStatedAmount2022-10-31 10453926business:SmallEntities2022-11-012023-10-31 10453926countries:EnglandWales2022-11-012023-10-31 10453926core:PlantMachinery2022-11-012023-10-31 10453926core:MotorVehicles2022-11-012023-10-31 10453926core:FurnitureFittings2022-11-012023-10-31 10453926core:PlantMachinery2022-10-31 10453926core:MotorVehicles2022-10-31 10453926core:FurnitureFittings2022-10-31 10453926core:PlantMachinery2023-10-31 10453926core:MotorVehicles2023-10-31 10453926core:FurnitureFittings2023-10-31 10453926core:RevaluationsIncreaseDecreaseInInvestments2023-10-31 104539262021-11-012022-10-31 iso4217:GBP xbrli:pure
Company Registration No. 10453926 (England and Wales)
Arctic Cooling Services Limited Unaudited accounts for the year ended 31 October 2023
Arctic Cooling Services Limited Unaudited accounts Contents
Page
- 2 -
Arctic Cooling Services Limited Company Information for the year ended 31 October 2023
Director
James Gray
Company Number
10453926 (England and Wales)
Registered Office
77a Richmond Road Twickenham Middlesex TW1 3AW England
Accountants
P10 Accountancy Ltd 77A Richmond Road Twickenham TW1 3AW
- 3 -
Arctic Cooling Services Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
245,426 
197,605 
Investments
12,750 
9,459 
258,176 
207,064 
Current assets
Debtors
715,543 
252,042 
Cash at bank and in hand
500,394 
266,115 
1,215,937 
518,157 
Creditors: amounts falling due within one year
(310,304)
(130,455)
Net current assets
905,633 
387,702 
Total assets less current liabilities
1,163,809 
594,766 
Creditors: amounts falling due after more than one year
(207,004)
(206,794)
Provisions for liabilities
Deferred tax
(43,374)
(1,886)
Net assets
913,431 
386,086 
Capital and reserves
Called up share capital
300 
300 
Revaluation reserve
3,291 
- 
Profit and loss account
909,840 
385,786 
Shareholders' funds
913,431 
386,086 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 October 2024 and were signed on its behalf by
James Gray Director Company Registration No. 10453926
- 4 -
Arctic Cooling Services Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Arctic Cooling Services Limited is a private company, limited by shares, registered in England and Wales, registration number 10453926. The registered office is 77a Richmond Road, Twickenham, Middlesex, TW1 3AW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
- 5 -
Arctic Cooling Services Limited Notes to the Accounts for the year ended 31 October 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 November 2022
1,528 
272,943 
17,669 
292,140 
Additions
- 
124,414 
12,323 
136,737 
Disposals
- 
(17,300)
- 
(17,300)
At 31 October 2023
1,528 
380,057 
29,992 
411,577 
Depreciation
At 1 November 2022
335 
89,200 
5,000 
94,535 
Charge for the year
179 
74,389 
3,749 
78,317 
On disposals
- 
(6,701)
- 
(6,701)
At 31 October 2023
514 
156,888 
8,749 
166,151 
Net book value
At 31 October 2023
1,014 
223,169 
21,243 
245,426 
At 31 October 2022
1,193 
183,743 
12,669 
197,605 
5
Investments
Other investments 
£ 
Valuation at 1 November 2022
9,459 
Fair value adjustments
3,291 
Valuation at 31 October 2023
12,750 
- 6 -
Arctic Cooling Services Limited Notes to the Accounts for the year ended 31 October 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
6,828 
Trade debtors
377,421 
209,695 
Amounts due from group undertakings etc.
10,000 
- 
Accrued income and prepayments
15,573 
2,093 
Other debtors
312,549 
33,426 
715,543 
252,042 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
14,010 
- 
Obligations under finance leases and hire purchase contracts
50,974 
33,515 
Trade creditors
44,525 
38,479 
Taxes and social security
188,164 
8,113 
Other creditors
2,631 
36,031 
Loans from directors
- 
1,817 
Accruals
- 
2,500 
310,304 
130,455 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
16,667 
26,667 
Obligations under finance leases and hire purchase contracts
190,337 
180,127 
207,004 
206,794 
9
Average number of employees
During the year the average number of employees was 13 (2022: 11).
- 7 -