2023-05-012024-04-302024-04-30false03981745KIRWIN AIR CONDITIONING 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KIRWIN AIR CONDITIONING LIMITED

Registered Number
03981745
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

KIRWIN AIR CONDITIONING LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

KIRWIN, Terence Patrick

Registered Address

Unit B Riffa Business Park
Harrogate Road, Leathley
Otley
LS21 2RZ

Registered Number

03981745 (England and Wales)
KIRWIN AIR CONDITIONING LIMITED
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,6342,642
2,6342,642
Current assets
Debtors573,51586,749
Cash at bank and on hand60,85043,727
134,365130,476
Creditors amounts falling due within one year6(78,632)(89,864)
Net current assets (liabilities)55,73340,612
Total assets less current liabilities58,36743,254
Provisions for liabilities7(636)(502)
Net assets57,73142,752
Capital and reserves
Called up share capital100100
Profit and loss account57,63142,652
Shareholders' funds57,73142,752
The financial statements were approved and authorised for issue by the Director on 12 December 2024, and are signed on its behalf by:
KIRWIN, Terence Patrick
Director
Registered Company No. 03981745
KIRWIN AIR CONDITIONING LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents revenue earned under contracts to provide air conditioning services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration excluding value added tax.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment25
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 May 235,2875,287
Additions686686
At 30 April 245,9735,973
Depreciation and impairment
At 01 May 232,6452,645
Charge for year694694
At 30 April 243,3393,339
Net book value
At 30 April 242,6342,634
At 30 April 232,6422,642
4.Impairment of tangible fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables73,25186,510
Other debtors264239
Total73,51586,749
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables40,47852,172
Taxation and social security20,71618,566
Other creditors17,43819,126
Total78,63289,864
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)636502
Total636502
8.Pension commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £90 (2023 - £73) were due to the fund. They are included in other creditors.
9.Related party transactions
Included within other creditors is an amount of £11,613 (2023 - £13,275) due to the directors. Interest was charged at the official rate set by HMRC and this amount is repayable on demand.