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Registered number: 12990496
Concept Cooling Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mr James McClennon
Mrs Paula McClennon
Company Number 12990496
Registered Office Unit 14/15 Duchy Business Centre
Wilson Way
Redruth
Cornwall
TR15 3RT
Accountants Concept Cooling Ltd
Unit 14-15 Duchy Business Centre
Wilson Way
Redruth
Cornwall
TR15 3RT
Page 1
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Balance Sheet
Registered number: 12990496
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 173,902 168,944
173,902 168,944
CURRENT ASSETS
Stocks 5 85,348 59,351
Debtors 6 165,878 155,506
Cash at bank and in hand 159,578 17,739
410,804 232,596
Creditors: Amounts Falling Due Within One Year 7 (310,794 ) (219,673 )
NET CURRENT ASSETS (LIABILITIES) 100,010 12,923
TOTAL ASSETS LESS CURRENT LIABILITIES 273,912 181,867
Creditors: Amounts Falling Due After More Than One Year 8 (3,604 ) (21,796 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (36,547 ) (41,457 )
NET ASSETS 233,761 118,614
CAPITAL AND RESERVES
Called up share capital 11 10 2
Profit and Loss Account 233,751 118,612
SHAREHOLDERS' FUNDS 233,761 118,614
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Paula McClennon
Director
17/06/2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Concept Cooling Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12990496 . The registered office is Unit 14/15 Duchy Business Centre, Wilson Way, Redruth, Cornwall, TR15 3RT. The financial statements cover a single entity.
The presentation curency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements have been rounded to the nearest Pound.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 25% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 8)
11 8
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2023 46,064 168,614 - 2,460 217,138
Additions 7,278 - 33,795 526 41,599
As at 30 November 2024 53,342 168,614 33,795 2,986 258,737
Depreciation
As at 1 December 2023 4,995 42,182 - 1,017 48,194
Provided during the period 10,149 25,286 563 643 36,641
As at 30 November 2024 15,144 67,468 563 1,660 84,835
Net Book Value
As at 30 November 2024 38,198 101,146 33,232 1,326 173,902
As at 1 December 2023 41,069 126,432 - 1,443 168,944
5. Stocks
2024 2023
£ £
Stock 53,487 36,548
Work in progress 31,861 22,803
85,348 59,351
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 157,795 133,944
Other debtors 8,083 21,562
165,878 155,506
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 19,609 32,914
Trade creditors 46,716 119,151
Other creditors 116,685 13,294
Taxation and social security 127,784 54,314
310,794 219,673
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,604 21,796
9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
Obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 23,213 54,710
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 19,609 32,914
Later than one year and not later than five years 3,604 21,796
23,213 54,710
23,213 54,710
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 2
12. Related Party Transactions
Included in other creditors is £nil (2023 £5,161) due to the director J McClennon who owns 50% of the shareholding.
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