Registered number
07766557
CASTLEWAY COOLING LIMITED
Filleted Accounts
30 September 2024
CASTLEWAY COOLING LIMITED
Registered number: 07766557
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 67,338 21,400
Current assets
Debtors 4 99,242 99,228
Cash at bank and in hand 19,957 54,325
119,199 153,553
Creditors: amounts falling due within one year 5 (35,914) (75,780)
Net current assets 83,285 77,773
Total assets less current liabilities 150,623 99,173
Creditors: amounts falling due after more than one year 6 (68,636) (30,602)
Net assets 81,987 68,571
Capital and reserves
Called up share capital 2 2
Profit and loss account 81,985 68,569
Shareholders' funds 81,987 68,571
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Cordwell
Director
Approved by the board on 28 May 2025
CASTLEWAY COOLING LIMITED
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 4,119 47,188 51,307
Additions - 69,278 69,278
Disposals - (17,400) (17,400)
At 30 September 2024 4,119 99,066 103,185
Depreciation
At 1 October 2023 4,119 25,788 29,907
Charge for the year - 19,814 19,814
On disposals - (13,874) (13,874)
At 30 September 2024 4,119 31,728 35,847
Net book value
At 30 September 2024 - 67,338 67,338
At 30 September 2023 - 21,400 21,400
4 Debtors 2024 2023
£ £
Trade debtors 99,242 99,228
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 24,702 61,691
Taxation and social security costs 1,832 10,147
Other creditors 9,380 3,942
35,914 75,780
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 68,636 23,231
Obligations under finance lease and hire purchase contracts - 7,371
68,636 30,602
7 Controlling party
The person with significant control of Castleway Cooling Limited is Mr M Cordwell.
8 Other information
CASTLEWAY COOLING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 104
Solent Business Centre
Millbrook Road West
Southampton
SO15 0HW
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