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REGISTERED NUMBER: 02789189 (England and Wales)















Cool Stop Air Conditioning Limited

Financial Statements

for the Year Ended 30 September 2024






Cool Stop Air Conditioning Limited (Registered number: 02789189)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


Cool Stop Air Conditioning Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: R A F Lloyd
Mrs R M Lloyd



REGISTERED OFFICE: Unit 1D
Polden Business Centre
Bristol Road
BRIDGWATER
Somerset
TA6 4AW



REGISTERED NUMBER: 02789189 (England and Wales)



AUDITORS: Maxwells
Chartered Accountants
and Statutory Auditor
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Lloyds Bank plc
25 Cornhill
Bridgwater
Somerset
TA6 3AY

Cool Stop Air Conditioning Limited (Registered number: 02789189)

Abridged Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 6,401 1
Tangible assets 6 44,973 25,353
51,374 25,354

CURRENT ASSETS
Stocks 681,057 783,484
Debtors 696,780 699,320
Cash at bank 8,049 8,052
1,385,886 1,490,856
CREDITORS
Amounts falling due within one year 1,137,549 1,189,051
NET CURRENT ASSETS 248,337 301,805
TOTAL ASSETS LESS CURRENT
LIABILITIES

299,711

327,159

CREDITORS
Amounts falling due after more than one
year

7

(143,502

)

(166,352

)

PROVISIONS FOR LIABILITIES (5,000 ) -
NET ASSETS 151,209 160,807

CAPITAL AND RESERVES
Called up share capital 362,000 362,000
Retained earnings (210,791 ) (201,193 )
SHAREHOLDERS' FUNDS 151,209 160,807

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 26 November 2024 and were signed on its behalf by:



R A F Lloyd - Director


Cool Stop Air Conditioning Limited (Registered number: 02789189)

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

1. STATUTORY INFORMATION

Cool Stop Air Conditioning 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. 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.

The financial statements have been prepared in accordance with applicable accounting standards and estimation techniques.

At the time of approving the financial statements the director has a reasonable expectation that the Company has adequate resources to continue in operation existence for the foreseeable future.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - over life of lease
Plant and machinery etc - 25% on cost and 25% on reducing balance

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

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 tax
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.

Cool Stop Air Conditioning Limited (Registered number: 02789189)

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

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 1
Additions 8,000
At 30 September 2024 8,001
AMORTISATION
Amortisation for year 1,600
At 30 September 2024 1,600
NET BOOK VALUE

At 30 September 2024 6,401
At 30 September 2023 1

Cool Stop Air Conditioning Limited (Registered number: 02789189)

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

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 118,986
Additions 35,276
Disposals (4,713 )
At 30 September 2024 149,549
DEPRECIATION
At 1 October 2023 93,633
Charge for year 13,287
Eliminated on disposal (2,344 )
At 30 September 2024 104,576
NET BOOK VALUE
At 30 September 2024 44,973
At 30 September 2023 25,353

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

Totals
£   
COST
At 1 October 2023 14,800
Additions 34,304
At 30 September 2024 49,104
DEPRECIATION
At 1 October 2023 9,250
Charge for year 5,844
At 30 September 2024 15,094
NET BOOK VALUE
At 30 September 2024 34,010
At 30 September 2023 5,550

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
30.9.24 30.9.23
£    £   
Repayable by instalments
Other loans 54,463 78,240

Cool Stop Air Conditioning Limited (Registered number: 02789189)

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

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 7,765 -
Between one and five years 18,717 -
26,482 -

Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 3,920 2,819
In more than five years 383,500 452,500
387,420 455,319

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank overdrafts 351,827 384,651
Other loans 141,963 165,740
Hire purchase contracts 26,482 -
520,272 550,391

Bank overdrafts are secured by a fixed and floating charge over the assets of the company.

Amounts due under an invoice discounting agreement with Lloyds Commercial Finance Limited, included within bank overdrafts, are secured over specifically secured trade debtors.

Amounts due on hire purchase contracts are secured over the relevant specific assets held.

Other loans are secured over the stock held by the company.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Blannin (Senior Statutory Auditor)
for and on behalf of Maxwells

Cool Stop Air Conditioning Limited (Registered number: 02789189)

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

11. RELATED PARTY DISCLOSURES

During the year the company had balances with companies in which RAF Lloyd, the director has an interest.


Company name

Balance at
30.9.24
Balance at
30.9.23
£    £   


The Enviroshop Limited 74,822 85,304

Vidoflex UK Limited 60,547 46,957


Transactions were at arms length and at current market value, and consist of recharges, sales of goods and working capital.

The company also owes £141,963 at the year-end as a loan to the SWM Distribution Limited EPS pension fund in which the directors are beneficiaries. Terms were agreed with the independent pension administrator and are noted as at arms length.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R A F Lloyd.