Company Registration No. in England and Wales
12046269
E & D AIR CONDITIONING LTD
FILLETED ACCOUNTS
30 June 2024
E & D AIR CONDITIONING LTD
Registered number: 12046269
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,031 1,375
Investments 4 72,014 9,064
73,045 10,439
Current assets
Stocks 9,500 6,300
Debtors 5 85,441 30,369
Cash at bank and in hand 193,642 219,717
288,583 256,386
Creditors: amounts falling due within one year 6 (91,955) (50,253)
Net current assets 196,628 206,133
Net assets 269,673 216,572
Capital and reserves
Called up share capital 100 100
Profit and loss account 269,573 216,472
Shareholder's funds 269,673 216,572
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dimitar Spasov Delchev
Director
Approved by the board on 18 January 2025
E & D AIR CONDITIONING LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Nil
Leasehold land and buildings over the lease term
Van 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Where material, 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 1,833 11,935 13,768
At 30 June 2024 1,833 11,935 13,768
Depreciation
At 1 July 2023 458 11,935 12,393
Charge for the year 344 - 344
At 30 June 2024 802 11,935 12,737
Net book value
At 30 June 2024 1,031 - 1,031
At 30 June 2023 1,375 - 1,375
4 Investments
Other
investments
£
Cost
At 1 July 2023 9,064
Additions 62,950
At 30 June 2024 72,014
5 Debtors 2024 2023
£ £
Trade debtors 59,185 -
Other debtors 26,256 30,369
85,441 30,369
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 801 -
Taxation and social security costs 27,965 31,349
Other creditors 63,189 18,904
91,955 50,253
7 Controlling party
The ultimate controlling party is the director who owns 100% of the shares.
8 Other information
E & D AIR CONDITIONING LTD is a private company limited by shares and incorporated in England. Its registered office is:
KNIGHT CHADWICK
243 Elgin Avenue
London
W9 1NJ
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