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COOLERR LIMITED

Registered Number
SC690269
(Scotland)

Unaudited Financial Statements for the Period ended
29 February 2024

COOLERR LIMITED
Company Information
for the period from 28 February 2023 to 29 February 2024

Directors

Alasdair David Heath
David John Heath

Registered Address

Elmwood
Dunlop
Kilmarnock
KA3 4EF

Registered Number

SC690269 (Scotland)
COOLERR LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks168,523184,758
Debtors32,1403,484
Cash at bank and on hand27,65658,402
198,319246,644
Creditors amounts falling due within one year4(21,979)(22,640)
Net current assets (liabilities)176,340224,004
Total assets less current liabilities176,340224,004
Creditors amounts falling due after one year5(425,427)(400,427)
Net assets(249,087)(176,423)
Capital and reserves
Called up share capital44
Profit and loss account(249,091)(176,427)
Shareholders' funds(249,087)(176,423)
The financial statements were approved and authorised for issue by the Board of Directors on 12 November 2024, and are signed on its behalf by:
Alasdair David Heath
Director
Registered Company No. SC690269
COOLERR LIMITED
Notes to the Financial Statements
for the period ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The financial statements have been prepared on the going concern basis. The directors find it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the directors who have confirmed they will not withdraw their directors loan account to the detriment of other creditors and will continue to support the company as required.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. At the balance sheet date a deferred tax asset of £46,195 (2023 £32,657) exists in relation to trading losses. This has not been provided for in these financial statements on the basis that future accounting profits are uncertain.
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20242023
Average number of employees during the year22
3.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8210
Other debtors2,0583,474
Total2,1403,484
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-929
Taxation and social security10,59710,203
Other creditors9,7829,300
Accrued liabilities and deferred income1,6002,208
Total21,97922,640
5.Creditors: amounts due after one year

2024

2023

££
Other creditors425,427400,427
Total425,427400,427