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REGISTERED NUMBER: 08228615 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Priority Cooling Limited

Priority Cooling Limited (Registered number: 08228615)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Priority Cooling Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: M Prior





REGISTERED OFFICE: 9 Newtown Road
Southampton
Hampshire
SO18 1NJ





REGISTERED NUMBER: 08228615 (England and Wales)





ACCOUNTANTS: P D Accountancy Services Ltd
77 Whites Road
Bitterne
Southampton
Hampshire
SO19 7NR

Priority Cooling Limited (Registered number: 08228615)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,489 15,869

CURRENT ASSETS
Stocks 5 1,500 1,500
Debtors 6 60,319 87,245
Cash at bank 3,544 7,369
65,363 96,114
CREDITORS
Amounts falling due within one year 7 41,970 51,147
NET CURRENT ASSETS 23,393 44,967
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,882

60,836

CREDITORS
Amounts falling due after more than one
year

8

(31,223

)

(40,124

)

PROVISIONS FOR LIABILITIES (2,564 ) (3,016 )
NET ASSETS 3,095 17,696

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,995 17,596
SHAREHOLDERS' FUNDS 3,095 17,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Priority Cooling Limited (Registered number: 08228615)

Balance Sheet - continued
30 September 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 17 June 2025 and were signed by:





M Prior - Director


Priority Cooling Limited (Registered number: 08228615)

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

1. STATUTORY INFORMATION

Priority 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.

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.
Motor vehicles - 15% on reducing balance
Computer equipment - 15% 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 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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Priority Cooling Limited (Registered number: 08228615)

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

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 21,240 1,152 22,392
DEPRECIATION
At 1 October 2023 5,894 629 6,523
Charge for year 2,302 78 2,380
At 30 September 2024 8,196 707 8,903
NET BOOK VALUE
At 30 September 2024 13,044 445 13,489
At 30 September 2023 15,346 523 15,869

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023
and 30 September 2024 21,240
DEPRECIATION
At 1 October 2023 5,894
Charge for year 2,302
At 30 September 2024 8,196
NET BOOK VALUE
At 30 September 2024 13,044
At 30 September 2023 15,346

5. STOCKS
30.9.24 30.9.23
£    £   
Stocks 1,500 1,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors - 14,050
Amounts recoverable on contract - 1,100
Other debtors 31,064 40,894
Directors' current accounts 24,755 28,715
VAT 3,854 1,288
Prepayments 646 1,198
60,319 87,245

Priority Cooling Limited (Registered number: 08228615)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 6,371 6,508
Hire purchase contracts 4,927 4,927
Trade creditors 5,815 8,734
Tax 8,037 17,575
Social security and other taxes 1,425 426
Other creditors 15,020 12,602
Accrued expenses 375 375
41,970 51,147

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans - 2-5 years 24,529 30,252
Hire purchase contracts 6,694 9,872
31,223 40,124

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
M Prior
Balance outstanding at start of year 28,715 (49 )
Amounts advanced 52,919 77,430
Amounts repaid (56,879 ) (48,666 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,755 28,715

10. RELATED PARTY DISCLOSURES

During the year the directors received dividends amounting to £47,125 (2023 £47,125).

11. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by M Prior, the sole director and shareholder of the company.