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COOL & HEAT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






COOL & HEAT LTD (REGISTERED NUMBER: 04665531)

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


COOL & HEAT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M E J Peacock
Mrs D Peacock
R A Coar





REGISTERED OFFICE: Unit 4, Dale Industrial Estate
Radcliffe
Manchester
West Yorkshire
M26 1AD





REGISTERED NUMBER: 04665531 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

COOL & HEAT LTD (REGISTERED NUMBER: 04665531)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 308,111 153,457

CURRENT ASSETS
Stocks 5 574,578 438,735
Debtors 6 1,034,509 1,921,474
Cash at bank and in hand 31,031 9,171
1,640,118 2,369,380
CREDITORS
Amounts falling due within one year 7 1,546,451 1,393,544
NET CURRENT ASSETS 93,667 975,836
TOTAL ASSETS LESS CURRENT LIABILITIES 401,778 1,129,293

CREDITORS
Amounts falling due after more than one
year

8

(129,534

)

(79,189

)

PROVISIONS FOR LIABILITIES 9 - (2,595 )
NET ASSETS 272,244 1,047,509

CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Retained earnings 270,244 1,045,509
SHAREHOLDERS' FUNDS 272,244 1,047,509

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.

COOL & HEAT LTD (REGISTERED NUMBER: 04665531)

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 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 14 December 2024 and were signed on its behalf by:





M E J Peacock - Director


COOL & HEAT LTD (REGISTERED NUMBER: 04665531)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Cool & Heat Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

COOL & HEAT LTD (REGISTERED NUMBER: 04665531)

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.

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 36 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 - 17,994 23,172 253,239 294,405
Additions 44,279 105,000 3,120 144,309 296,708
Disposals - - - (175,219 ) (175,219 )
At 31 March 2024 44,279 122,994 26,292 222,329 415,894
DEPRECIATION
At 1 April 2023 - 15,682 16,190 109,076 140,948
Charge for year 369 8,222 2,020 44,249 54,860
Eliminated on disposal - - - (88,025 ) (88,025 )
At 31 March 2024 369 23,904 18,210 65,300 107,783
NET BOOK VALUE
At 31 March 2024 43,910 99,090 8,082 157,029 308,111
At 31 March 2023 - 2,312 6,982 144,163 153,457

The net book value of tangible fixed assets includes £ 157,029 (2023 - £ 135,488 ) in respect of assets held under hire purchase contracts.

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 214,216 210,006
Work-in-progress 360,362 228,729
574,578 438,735

COOL & HEAT LTD (REGISTERED NUMBER: 04665531)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 947,358 1,317,640
Other debtors - 590,977
Deferred tax asset 75,476 -
Prepayments 11,675 12,857
1,034,509 1,921,474

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 451,572 279,334
Hire purchase contracts 69,288 56,366
Trade creditors 742,894 677,904
Social security and other taxes 35,751 33,481
VAT 86,369 189,486
Directors' current accounts 109,622 91,122
Accrued expenses 50,955 65,851
1,546,451 1,393,544

The loan from the directors is interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 129,534 79,189

9. PROVISIONS FOR LIABILITIES
31.3.23
£   
Deferred tax 2,595

Deferred
tax
£   
Balance at 1 April 2023 2,595
Accelerated Capital Allowances (78,071 )
Balance at 31 March 2024 (75,476 )

The entire provision for deferred tax relates to accelerated capital allowances.

COOL & HEAT LTD (REGISTERED NUMBER: 04665531)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2,000 Ordinary £1.00 2,000 2,000

11. ULTIMATE CONTROLLING PARTY

The controlling party is Cool & Heat (Holdings) Limited.