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REGISTERED NUMBER: 05756082 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 April 2024

for

M-Cool Limited

M-Cool Limited (Registered number: 05756082)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


M-Cool Limited (Registered number: 05756082)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 13,258 21,306

CURRENT ASSETS
Stocks 10,319 9,827
Debtors 5 390,216 255,974
Cash at bank and in hand 115,809 180,299
516,344 446,100
CREDITORS
Amounts falling due within one year 6 (289,105 ) (191,844 )
NET CURRENT ASSETS 227,239 254,256
TOTAL ASSETS LESS CURRENT LIABILITIES 240,497 275,562

CREDITORS
Amounts falling due after more than one
year

7

(18,100

)

(33,156

)
NET ASSETS 222,397 242,406

CAPITAL AND RESERVES
Called up share capital 35 35
Retained earnings 222,362 242,371
SHAREHOLDERS' FUNDS 222,397 242,406

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

M-Cool Limited (Registered number: 05756082)

Balance Sheet - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 January 2025 and were signed by:





Mr B Myers - Director


M-Cool Limited (Registered number: 05756082)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

M-Cool Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05756082

Registered office: Westminster House
10 Westminster Road
Macclesfield
Cheshire
SK10 1BX

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, net of VAT and trade discounts.

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the delivery of the goods.


Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to finalisation of work completed.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable

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.
Improvements to property - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Office equipment - 25% on cost

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


M-Cool Limited (Registered number: 05756082)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 11 (2023 - 9 ) .

M-Cool Limited (Registered number: 05756082)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Office
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023
and 30 April 2024 5,559 519 67,279 9,339 82,696
DEPRECIATION
At 1 May 2023 5,559 519 47,305 8,007 61,390
Charge for year - - 7,549 499 8,048
At 30 April 2024 5,559 519 54,854 8,506 69,438
NET BOOK VALUE
At 30 April 2024 - - 12,425 833 13,258
At 30 April 2023 - - 19,974 1,332 21,306

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023
and 30 April 2024 17,750
DEPRECIATION
At 1 May 2023 1,775
Charge for year 3,550
At 30 April 2024 5,325
NET BOOK VALUE
At 30 April 2024 12,425
At 30 April 2023 15,975

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 356,643 232,273
Other debtors 33,573 23,701
390,216 255,974

M-Cool Limited (Registered number: 05756082)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,064 9,809
Hire purchase contracts (see note 8) 4,866 7,820
Trade creditors 271,969 161,878
Taxation and social security 201 7,199
Other creditors 2,005 5,138
289,105 191,844

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 18,100 28,290
Hire purchase contracts (see note 8) - 4,866
18,100 33,156

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Net obligations repayable:
Within one year 4,866 7,820
Between one and five years - 4,866
4,866 12,686

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year - 15,000

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Hire purchase contracts 4,866 12,686

Hire purchase creditors are secured on the assets to which they relate.

M-Cool Limited (Registered number: 05756082)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
Mr B Myers
Balance outstanding at start of year 13,624 16,915
Amounts advanced - 709
Amounts repaid (1,243 ) (4,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,381 13,624

Loans incur interest at 2.5% per annum and are repaid within 9 months of the year end.