IRIS Accounts Production v24.3.0.553 05358678 Board of Directors Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053586782023-02-28053586782024-02-29053586782023-03-012024-02-29053586782022-02-28053586782022-03-012023-02-28053586782023-02-2805358678ns15:EnglandWales2023-03-012024-02-2905358678ns14:PoundSterling2023-03-012024-02-2905358678ns10:Director12023-03-012024-02-2905358678ns10:Director22023-03-012024-02-2905358678ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2905358678ns10:SmallEntities2023-03-012024-02-2905358678ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2905358678ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2905358678ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2905358678ns10:FullAccounts2023-03-012024-02-2905358678ns10:OrdinaryShareClass12023-03-012024-02-2905358678ns10:CompanySecretary12023-03-012024-02-2905358678ns10:RegisteredOffice2023-03-012024-02-2905358678ns5:CurrentFinancialInstruments2024-02-2905358678ns5:CurrentFinancialInstruments2023-02-2805358678ns5:ShareCapital2024-02-2905358678ns5:ShareCapital2023-02-2805358678ns5:RetainedEarningsAccumulatedLosses2024-02-2905358678ns5:RetainedEarningsAccumulatedLosses2023-02-2805358678ns5:LeaseholdImprovements2023-03-012024-02-2905358678ns5:PlantMachinery2023-03-012024-02-2905358678ns5:FurnitureFittings2023-03-012024-02-2905358678ns5:MotorVehicles2023-03-012024-02-2905358678ns5:ComputerEquipment2023-03-012024-02-2905358678ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-2805358678ns5:LeaseholdImprovements2023-02-2805358678ns5:PlantMachinery2023-02-2805358678ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-012024-02-2905358678ns5:ShortLeaseholdAssetsns5:LandBuildings2024-02-2905358678ns5:LeaseholdImprovements2024-02-2905358678ns5:PlantMachinery2024-02-2905358678ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-2805358678ns5:LeaseholdImprovements2023-02-2805358678ns5:PlantMachinery2023-02-2805358678ns5:FurnitureFittings2023-02-2805358678ns5:MotorVehicles2023-02-2805358678ns5:ComputerEquipment2023-02-2805358678ns5:FurnitureFittings2024-02-2905358678ns5:MotorVehicles2024-02-2905358678ns5:ComputerEquipment2024-02-2905358678ns5:FurnitureFittings2023-02-2805358678ns5:MotorVehicles2023-02-2805358678ns5:ComputerEquipment2023-02-2805358678ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2905358678ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2805358678ns5:AcceleratedTaxDepreciationDeferredTax2024-02-2905358678ns5:AcceleratedTaxDepreciationDeferredTax2023-02-2805358678ns5:DeferredTaxation2023-02-2805358678ns5:DeferredTaxation2023-03-012024-02-2905358678ns5:DeferredTaxation2024-02-2905358678ns10:OrdinaryShareClass12024-02-29
REGISTERED NUMBER: 05358678 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

LG COMFORT COOLING LIMITED

LG COMFORT COOLING LIMITED (REGISTERED NUMBER: 05358678)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29th February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LG COMFORT COOLING LIMITED

COMPANY INFORMATION
for the Year Ended 29th February 2024







DIRECTORS: Mr J A Smith
Mr G T Pearson





SECRETARY: Mr G T Pearson





REGISTERED OFFICE: Unit 3 Coleshill Trade Park
Station Road
Coleshill
West Midlands
B46 1AT





REGISTERED NUMBER: 05358678 (England and Wales)





ACCOUNTANTS: Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST

LG COMFORT COOLING LIMITED (REGISTERED NUMBER: 05358678)

BALANCE SHEET
29th February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 91,537 75,066

CURRENT ASSETS
Stocks 5 171,639 92,422
Debtors 6 375,743 391,604
Cash at bank - 71,787
547,382 555,813
CREDITORS
Amounts falling due within one year 7 232,418 233,818
NET CURRENT ASSETS 314,964 321,995
TOTAL ASSETS LESS CURRENT LIABILITIES 406,501 397,061

PROVISIONS FOR LIABILITIES 9 17,392 8,682
NET ASSETS 389,109 388,379

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 389,009 388,279
SHAREHOLDERS' FUNDS 389,109 388,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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.

LG COMFORT COOLING LIMITED (REGISTERED NUMBER: 05358678)

BALANCE SHEET - continued
29th February 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 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 30th November 2024 and were signed on its behalf by:




Mr G T Pearson - Director



Mr J A Smith - Director


LG COMFORT COOLING LIMITED (REGISTERED NUMBER: 05358678)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29th February 2024


1. STATUTORY INFORMATION

LG Comfort Cooling 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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.

LG COMFORT COOLING LIMITED (REGISTERED NUMBER: 05358678)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024


2. ACCOUNTING POLICIES - continued

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 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1st March 2023 3,152 54,618 105,783
Additions - - 35,995
At 29th February 2024 3,152 54,618 141,778
DEPRECIATION
At 1st March 2023 - 33,733 93,860
Charge for year - 4,269 4,481
At 29th February 2024 - 38,002 98,341
NET BOOK VALUE
At 29th February 2024 3,152 16,616 43,437
At 28th February 2023 3,152 20,885 11,923

LG COMFORT COOLING LIMITED (REGISTERED NUMBER: 05358678)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024


4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st March 2023 23,886 32,190 59,184 278,813
Additions - - 868 36,863
At 29th February 2024 23,886 32,190 60,052 315,676
DEPRECIATION
At 1st March 2023 19,946 2,012 54,196 203,747
Charge for year 985 7,544 3,113 20,392
At 29th February 2024 20,931 9,556 57,309 224,139
NET BOOK VALUE
At 29th February 2024 2,955 22,634 2,743 91,537
At 28th February 2023 3,940 30,178 4,988 75,066

5. STOCKS
29/2/24 28/2/23
£    £   
Stocks 171,639 92,422

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 352,673 369,990
Other debtors 14,586 14,583
Prepayments 8,484 7,031
375,743 391,604

LG COMFORT COOLING LIMITED (REGISTERED NUMBER: 05358678)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts (see note 8) 38,465 -
Trade creditors 185,121 213,242
Tax 246 811
Social security and other taxes - 3,907
VAT 7,179 13,770
Other creditors 477 400
Directors' loan accounts 680 1,438
Accrued expenses 250 250
232,418 233,818

8. LOANS

An analysis of the maturity of loans is given below:

29/2/24 28/2/23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 38,465 -

9. PROVISIONS FOR LIABILITIES
29/2/24 28/2/23
£    £   
Deferred tax
Accelerated capital allowances 17,392 8,682

Deferred
tax
£   
Balance at 1st March 2023 8,682
Provided during year 8,710
Balance at 29th February 2024 17,392

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
100 Ordinary £1 100 100

LG COMFORT COOLING LIMITED (REGISTERED NUMBER: 05358678)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024


11. RELATED PARTY DISCLOSURES

GT Pearson Refrigeration Services
A partnership in which Mr G T Pearson is a partner.

During the year the Company entered into transactions under normal commercial terms with GT Pearson Refrigeration Services (Partnership). The Company made purchases from the business of £85,200 (2023: £85,200).