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COOLING SERVICES 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G.C. COOLING SERVICES LIMITED

Registered Number
SC178441
(Scotland)

Unaudited Financial Statements for the Year ended
31 August 2024

G.C. COOLING SERVICES LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

K Collins
G D Collins

Company Secretary

G D Collins

Registered Address

0/1 66 Highburgh Road
Glasgow
G12 9EN

Registered Number

SC178441 (Scotland)
G.C. COOLING SERVICES LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,1541,477
1,1541,477
Current assets
Stocks750925
Debtors4167,024169,038
Cash at bank and on hand124,63643,779
292,410213,742
Creditors amounts falling due within one year5(171,552)(162,372)
Net current assets (liabilities)120,85851,370
Total assets less current liabilities122,01252,847
Creditors amounts falling due after one year6(9,167)(19,167)
Provisions for liabilities(289)(370)
Net assets112,55633,310
Capital and reserves
Called up share capital100100
Profit and loss account112,45633,210
Shareholders' funds112,55633,310
The financial statements were approved and authorised for issue by the Board of Directors on 28 July 2025, and are signed on its behalf by:
G D Collins
Director
K Collins
Director

Registered Company No. SC178441
G.C. COOLING SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered office is 0/1, 66 Highburgh Road, Glasgow, G12 9EN.
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), 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 FRS102 have been applied other than where additional disclosure is required to show a true and fair view.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents net invoiced sales of goods and services attributable to the one principal activity of the company being that of air conditioning specialists. Unbilled work is recognised as turnover in accordance with FRS 102 and is included within debtors as amounts recoverable on contracts.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss and represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment - 20% on reducing balance Fixtures and fittings - 20% on reducing balance Computers - 33.33% straight line Motor vehicles - 25% on reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately within current liabilities.
Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 September 233,5302,8002,1451,2659,740
At 31 August 243,5302,8002,1451,2659,740
Depreciation and impairment
At 01 September 232,8922,2331,8731,2658,263
Charge for year12814253-323
At 31 August 243,0202,3751,9261,2658,586
Net book value
At 31 August 24510425219-1,154
At 31 August 23638567272-1,477
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables49,19049,602
Other debtors115,161117,988
Prepayments and accrued income2,6731,448
Total167,024169,038
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables25,65650,117
Bank borrowings and overdrafts10,00010,000
Taxation and social security119,91587,664
Other creditors5,6314,882
Accrued liabilities and deferred income10,3509,709
Total171,552162,372
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts9,16719,167
Total9,16719,167
7.Directors advances, credits and guarantees
As at 31 August 2024 the directors owed the company £41,421 (2023 - £70,090).