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Registration number: 07804381

Coolstays Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Coolstays Ltd

(Registration number: 07804381)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,627

2,963

Current assets

 

Debtors

5

356,084

215,170

Cash at bank and in hand

 

93,467

82,261

 

449,551

297,431

Creditors: Amounts falling due within one year

6

(248,349)

(232,590)

Net current assets

 

201,202

64,841

Total assets less current liabilities

 

206,829

67,804

Creditors: Amounts falling due after more than one year

6

(203,278)

(57,032)

Net assets

 

3,551

10,772

Capital and reserves

 

Called up share capital

1

1

Share premium reserve

251

251

Retained earnings

3,299

10,520

Shareholders' funds

 

3,551

10,772

 

Coolstays Ltd

(Registration number: 07804381)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

.........................................
T Wills
Director

 

Coolstays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
15-17 Middle Street
Brighton
BN1 1AL

These financial statements were authorised for issue by the Board on 20 January 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A
- 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when work undertaken on behalf of customers is completed.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises corpoation tax at the prevailing tax rates.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Coolstays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% on cost

Furniture and fittings

25% on cost

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 14).

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

7,038

1,498

8,536

Additions

6,264

-

6,264

At 31 July 2024

13,302

1,498

14,800

Depreciation

At 1 August 2023

4,825

748

5,573

Charge for the year

3,225

375

3,600

At 31 July 2024

8,050

1,123

9,173

Carrying amount

At 31 July 2024

5,252

375

5,627

At 31 July 2023

2,213

750

2,963

5

Debtors

Current

2024
£

2023
£

Trade debtors

12,726

2,370

Other debtors

343,358

212,800

 

356,084

215,170

 

Coolstays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

63,440

54,694

Trade creditors

 

33,121

22,583

Taxation and social security

 

151,788

143,276

Other creditors

 

-

12,037

 

248,349

232,590

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

203,278

57,032

 

Coolstays Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Related party transactions

The company provided the directors with current accounts where items of personal expenditure paid for by the company were charged. The amounts were repaid by the award of bonuses and dividends to the directors. At the end of the year the company was owed monies from the directors. All the advances were interest free, repayable on demand and were unsecured. All balances due by the directors to the company were repaid within 9 months of the balance sheet date.

Transactions with directors

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

T Wills

Loan account

35,457

22,191

(10,000)

47,648

         
       

N Wills

Loan Account

43,908

37,130

(10,000)

71,038

         
       

Mrs C Wills

Loan account

35,420

25,149

(10,000)

50,569

         
       

JA Stables

Loan account

43,619

36,940

(10,000)

70,559

         
       

 

2023

At 1 August 2022
£

Advances to director
£

At 31 July 2023
£

T Wills

Loan account

9,360

26,097

35,457

       
     

N Wills

Loan Account

9,528

34,380

43,908

       
     

Mrs C Wills

Loan account

9,335

26,085

35,420

       
     

JA Stables

Loan account

9,478

34,141

43,619