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Booth Air Conditioning (Service) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Booth Air Conditioning (Service) Ltd

(Registration number: 06463340)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

278,172

318,474

Current assets

 

Debtors

5

341,569

323,216

Cash at bank and in hand

 

325,473

307,000

 

667,042

630,216

Creditors: Amounts falling due within one year

6

(380,360)

(353,515)

Net current assets

 

286,682

276,701

Total assets less current liabilities

 

564,854

595,175

Creditors: Amounts falling due after more than one year

6

(107,558)

(135,720)

Provisions for liabilities

(47,378)

(54,150)

Net assets

 

409,918

405,305

Capital and reserves

 

Called up share capital

7

125

125

Retained earnings

409,793

405,180

Shareholders' funds

 

409,918

405,305

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:
 

.........................................
Mr Nigel Jones
Director

 

Booth Air Conditioning (Service) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Universal House
Elizabethan Way
Milnrow
Rochdale
Lancashire
OL16 4BU

These financial statements were authorised for issue by the Board on 27 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Booth Air Conditioning (Service) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% Straight Line

Motor Vehicles

20% Straight Line

Fixtures and Fittings

33.33% Straight Line

Leasehold Improvements

10% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

 

Booth Air Conditioning (Service) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 20).

 

Booth Air Conditioning (Service) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Imp to Leasehold Premises
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

257,405

65,760

363,690

23,681

710,536

Additions

3,955

4,713

87,543

-

96,211

Disposals

-

-

(60,922)

-

(60,922)

At 31 December 2024

261,360

70,473

390,311

23,681

745,825

Depreciation

At 1 January 2024

156,040

57,139

156,618

22,265

392,062

Charge for the year

25,811

7,736

73,170

1,416

108,133

Eliminated on disposal

-

-

(32,542)

-

(32,542)

At 31 December 2024

181,851

64,875

197,246

23,681

467,653

Carrying amount

At 31 December 2024

79,509

5,598

193,065

-

278,172

At 31 December 2023

101,365

8,621

207,072

1,416

318,474

 

Booth Air Conditioning (Service) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

300,720

296,429

Amounts owed by related parties

9

26,264

19,787

Prepayments

 

14,585

7,000

   

341,569

323,216

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

52,032

46,413

Trade creditors

 

95,850

86,791

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

35

-

Taxation and social security

 

176,168

187,153

Accruals and deferred income

 

34,079

4,150

Other creditors

 

22,196

29,008

 

380,360

353,515

Creditors include bank loans and overdrafts, secured by a debenture, and net obligations under finance lease and hire purchase contracts, secured on the relevant assets, with an aggregate value of £46,446 (2023 - £40,826).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

107,558

135,720

Creditors include bank loans and overdrafts, secured by a debenture, and net obligations under finance lease and hire purchase contracts, secured on the relevant assets,with an aggregate value of £83,765 (2023 - £.105,459)

 

Booth Air Conditioning (Service) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

5

5

5

5

Ordinary C shares of £1 each

5

5

5

5

Ordinary D shares of £1 each

5

5

5

5

Ordinary E shares of £1 each

5

5

5

5

Ordinary F shares of £1 each

5

5

5

5

125

125

125

125

 

Booth Air Conditioning (Service) Ltd

Notes to the Financial Statements for the Year Ended 31 December 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

24,673

30,260

Hire purchase contracts

82,885

105,460

107,558

135,720

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,586

5,587

Hire purchase contracts

46,446

40,826

52,032

46,413

9

Related party transactions

An interest free loan was made to the directors during the year which were repaid prior to the year end.

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Mr Nigel Jones

Loan

-

10,076

(10,076)

-

-

-

-

-

-

10,076

(10,076)

-

Mr Thomas Jones

Loan

-

33,800

(33,800)

-

-

-

-

-

-

33,800

(33,800)

-

10

Parent and ultimate parent undertaking

The company's immediate parent is Buchan Holdings Limited, incorporated in England and Wales.