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REGISTERED NUMBER: 06216327 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

ABOUT COOLING LIMITED

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


ABOUT COOLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: M Knight





SECRETARY: A Freer





REGISTERED OFFICE: 266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA





REGISTERED NUMBER: 06216327 (England and Wales)





ACCOUNTANTS: UCS Accountants
266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,298 70,371

CURRENT ASSETS
Stocks 8,323 9,760
Debtors 5 268,920 445,669
Cash at bank and in hand 373,060 395,736
650,303 851,165
CREDITORS
Amounts falling due within one year 6 101,836 302,339
NET CURRENT ASSETS 548,467 548,826
TOTAL ASSETS LESS CURRENT
LIABILITIES

604,765

619,197

CREDITORS
Amounts falling due after more than one
year

7

-

1,477
NET ASSETS 604,765 617,720

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 604,763 617,718
SHAREHOLDERS' FUNDS 604,765 617,720

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

BALANCE SHEET - continued
31 MAY 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 6 February 2025 and were signed by:





M Knight - Director


ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

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


1. STATUTORY INFORMATION

About Cooling Limited 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.

The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

The financial statements are presented in pounds sterling, which is the functional currency of the company.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgement and estimates have been made include:

a - Critical judgements in applying accounting policies
There are no critical judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

b - Key accounting estimates and assumptions
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are no key estimates and assumptions that have significant potential impact upon the carrying values of assets and liabilities.

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.
Tools - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

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.

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

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


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only 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 and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received.

However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

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

CASH AND CASH EQUIVALENTS
Cash and cash equivalents include cash in hand and at bank. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

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


4. TANGIBLE FIXED ASSETS
Motor Computer
Tools vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 9,827 123,097 9,169 142,093
DEPRECIATION
At 1 June 2023 6,679 57,310 7,733 71,722
Charge for year 629 13,157 287 14,073
At 31 May 2024 7,308 70,467 8,020 85,795
NET BOOK VALUE
At 31 May 2024 2,519 52,630 1,149 56,298
At 31 May 2023 3,148 65,787 1,436 70,371

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 116,838 270,879
Tai Nui Properties loan 146,000 143,000
Other debtors 3,971 -
VAT - 31,259
Prepayments 2,111 531
268,920 445,669

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 1,477 5,138
Trade creditors 36,692 180,848
Company credit card 13,022 2,379
Tax 25,028 22,454
Social security and other taxes 3,949 5,020
VAT 10,892 -
Directors' current accounts 6,116 83,000
Accrued expenses 4,660 3,500
101,836 302,339

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts - 1,477

ABOUT COOLING LIMITED (REGISTERED NUMBER: 06216327)

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


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary Shares 1 2 2

9. RESERVES
Retained
earnings
£   

At 1 June 2023 617,718
Profit for the year 51,045
Dividends (64,000 )
At 31 May 2024 604,763

10. RELATED PARTY DISCLOSURES

Included in other debtors £143,000 represents loans made to Tai Nui Properties Limited in which Mr M Knight and Mrs L Knight are Directors directors and 100% shareholders.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Knight and Mrs L Knight.