IRIS Accounts Production v24.3.2.46 03144279 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh031442792023-05-31031442792024-05-31031442792023-06-012024-05-31031442792022-06-30031442792022-07-012023-05-31031442792023-05-3103144279ns15:EnglandWales2023-06-012024-05-3103144279ns14:PoundSterling2023-06-012024-05-3103144279ns10:Director12023-06-012024-05-3103144279ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3103144279ns10:SmallEntities2023-06-012024-05-3103144279ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3103144279ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3103144279ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3103144279ns10:FullAccounts2023-06-012024-05-3103144279ns5:CurrentFinancialInstruments2024-05-3103144279ns5:CurrentFinancialInstruments2023-05-3103144279ns5:Non-currentFinancialInstruments2024-05-3103144279ns5:Non-currentFinancialInstruments2023-05-3103144279ns5:ShareCapital2024-05-3103144279ns5:ShareCapital2023-05-3103144279ns5:RetainedEarningsAccumulatedLosses2024-05-3103144279ns5:RetainedEarningsAccumulatedLosses2023-05-3103144279ns10:RegisteredOffice2023-06-012024-05-3103144279ns5:PlantMachinery2023-06-012024-05-3103144279ns5:PlantMachinery2023-05-3103144279ns5:PlantMachinery2024-05-3103144279ns5:PlantMachinery2023-05-3103144279ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-3103144279ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-012024-05-3103144279ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-05-3103144279ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-3103144279ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3103144279ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-31
REGISTERED NUMBER: 03144279 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

COMFORT SERVICE & MAINTENANCE LIMITED

COMFORT SERVICE & MAINTENANCE LIMITED (REGISTERED NUMBER: 03144279)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


COMFORT SERVICE & MAINTENANCE LIMITED (REGISTERED NUMBER: 03144279)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 41,047 41,111

CURRENT ASSETS
Stocks 136,908 142,234
Debtors 6 401,558 967,454
Cash at bank 32,663 56,888
571,129 1,166,576
CREDITORS
Amounts falling due within one year 7 890,046 1,606,540
NET CURRENT LIABILITIES (318,917 ) (439,964 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(277,870

)

(398,853

)

CREDITORS
Amounts falling due after more than one
year

8

186,405

166,935
NET LIABILITIES (464,275 ) (565,788 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (464,375 ) (565,888 )
SHAREHOLDERS' FUNDS (464,275 ) (565,788 )

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 directors acknowledge their 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.

COMFORT SERVICE & MAINTENANCE LIMITED (REGISTERED NUMBER: 03144279)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by:





H A Cole - Director


COMFORT SERVICE & MAINTENANCE LIMITED (REGISTERED NUMBER: 03144279)

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

1. STATUTORY INFORMATION

Comfort Service & Maintenance 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: 03144279

Registered office: Unit 20, Shawlands Newchapel Road
Lingfield
RH7 6BL

The presentation currency of the financial statements is the Pound Sterling (£).


All amounts in the financial statements have been rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements, the members have made the following judgements:

- Determine whether leases entered into by the entity either as a lessor or a lessee are operating lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine whether there are indicators of impairment of the entity's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover
Turnover represents revenue recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying services, and excludes value added tax. Where services are performed gradually over time revenue is recognised as activity progresses by reference to the value of work performed.

COMFORT SERVICE & MAINTENANCE LIMITED (REGISTERED NUMBER: 03144279)

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

3. ACCOUNTING POLICIES - continued

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.
Plant and machinery etc - 33.33% on cost, 15% on cost and 10% on cost

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

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

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.

Financial instruments
Basic financial assets, including trade debtors, other debtors, loans to directors, cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost.

Basic financial liabilities, including trade creditors, other creditors, loan from directors and trade finance, are initially recognised at transaction price and are subsequently recognised at amortised cost.

The company has no financial assets or financial liabilities measured at fair value, but the company does have external borrowings. The company is not exposed to risk arising from the interest rate benchmark reform as LIBOR is replaced with alternative benchmark interest rates.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 statement of financial position date.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

COMFORT SERVICE & MAINTENANCE LIMITED (REGISTERED NUMBER: 03144279)

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

3. ACCOUNTING POLICIES - continued

Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, which is 3 years.

The expected useful economic life of development costs are estimated based on business plans which set out the development plan and time to market for the associated project.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

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
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscovered salary costs of the future holiday entitlement so accrued at the balance sheet date.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at board meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 26 ) .

COMFORT SERVICE & MAINTENANCE LIMITED (REGISTERED NUMBER: 03144279)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 133,167
Additions 8,834
Disposals (13,565 )
At 31 May 2024 128,436
DEPRECIATION
At 1 June 2023 92,056
Charge for year 8,898
Eliminated on disposal (13,565 )
At 31 May 2024 87,389
NET BOOK VALUE
At 31 May 2024 41,047
At 31 May 2023 41,111

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 19,994
DEPRECIATION
At 1 June 2023 7,494
Charge for year 302
At 31 May 2024 7,796
NET BOOK VALUE
At 31 May 2024 12,198
At 31 May 2023 12,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 199,969 529,096
Other debtors 201,589 438,358
401,558 967,454

COMFORT SERVICE & MAINTENANCE LIMITED (REGISTERED NUMBER: 03144279)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 4,498 4,498
Trade creditors 168,719 171,269
Taxation and social security 172,828 181,288
Other creditors 534,001 1,239,485
890,046 1,606,540

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 94,529 27,845
Hire purchase contracts (see note 9) 1,499 5,998
Taxation and social security 53,393 96,108
Other creditors 36,984 36,984
186,405 166,935

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:
Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 4,498 4,498
Between one and five years 1,499 5,998
5,997 10,496

At the balance sheet date, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £204,936 (2023: £171,210).

10. SECURED DEBTS

Bank borrowings totalling £95,829 (2023: £132,430) are secured against trade debtors and a fixed and floating charge over the assets of the company.

11. RELATED PARTY DISCLOSURES

At the balance sheet date, amounts totalling £23,626 (2023: £Nil) were owed by the directors and an amount of £36,984 (2023: £37,420) was owed to the directors by the company. All amounts advanced are provided free of interest and are repayable on demand.

The directors have given personal guarantees over the total liabilities of the company to a sum of £570k.