Company registration number 07020597 (England and Wales)
OZONE COOLING SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
OZONE COOLING SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
The following pages do not form part of the statutory financial statements
OZONE COOLING SOLUTIONS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
27
410
Current assets
Stocks
5,000
5,000
Debtors
5
111,191
193,007
Cash at bank and in hand
397,577
144,354
513,768
342,361
Creditors: amounts falling due within one year
6
(303,570)
(195,870)
Net current assets
210,198
146,491
Total assets less current liabilities
210,225
146,901
Creditors: amounts falling due after more than one year
7
(7,904)
(18,214)
Net assets
202,321
128,687
Capital and reserves
Called up share capital
8
102
102
Share premium account
498
498
Profit and loss reserves
201,721
128,087
Total equity
202,321
128,687
The notes on pages 3 to 6 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
OZONE COOLING SOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 June 2025 and are signed on its behalf by:
..............................................
Mr A Schofield
Director
Company registration number 07020597 (England and Wales)
OZONE COOLING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Ozone Cooling Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit D5, Gate 4, Meltham Mills Industrial Estate, Meltham, Holmfirth, HD9 4DS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and value added tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost, and subsequently stated at cost less accumulated depreciation and impairment losses.
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment
25% reducing balance
Office equipment
33.3% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
1.5
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
OZONE COOLING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit for the current or past reporting periods. If is measured at the amount expected to be paid or recovered 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 where transactions or events have occurred at the date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
9
8
OZONE COOLING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
4
Tangible fixed assets
Plant and equipment
Office equipment
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
2,000
5,399
7,399
Depreciation and impairment
At 1 October 2023
1,964
5,025
6,989
Depreciation charged in the year
9
374
383
At 30 September 2024
1,973
5,399
7,372
Carrying amount
At 30 September 2024
27
27
At 30 September 2023
36
374
410
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
97,262
187,623
Other debtors
13,804
4,759
Prepayments and accrued income
125
625
111,191
193,007
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,311
10,056
Trade creditors
182,124
153,168
Corporation tax
81,259
24,150
Other taxation and social security
3,929
5,910
Other creditors
399
676
Accruals and deferred income
25,548
1,910
303,570
195,870
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
7,904
18,214
OZONE COOLING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
A Ordinary shares of £1 each
2
2
2
2
102
102
102
102
9
Related party transactions
Transactions with directors
Included in other creditors at the period end, is a loan of £399 (2023: £676) due to the directors. The loan is unsecured, repayable on demand and currently interest free.
Control of the company
The company is controlled by the directors.