REGISTERED NUMBER: 01176011 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COOL-STAK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B W Lockwood

R A Lockwood

T Lockwood

SECRETARY:

B W Lockwood

REGISTERED OFFICE:

Lynn Road

West Winch

King's Lynn

Norfolk

PE33 0PD

REGISTERED NUMBER:

01176011 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Intangible assets

4

1,638

3,150

Tangible assets

5

4,389,178

4,434,038

Investment property

6

300,000

300,000

4,690,816

4,737,188

CURRENT ASSETS

Stocks

627

2,112

Debtors

7

269,556

268,354

Cash at bank

-

27,613

270,183

298,079

CREDITORS

Amounts falling due within one year

8

376,345

415,972

NET CURRENT LIABILITIES

(106,162

)

(117,893

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,584,654

4,619,295

CREDITORS

Amounts falling due after more than one year

9

(1,369,811

)

(1,449,902

)

PROVISIONS FOR LIABILITIES

(319,854

)

(344,635

)

NET ASSETS

2,894,989

2,824,758

CAPITAL AND RESERVES

Called up share capital

1,050

1,050

Revaluation reserve

12

1,905,480

1,928,195

Retained earnings

988,459

895,513

SHAREHOLDERS' FUNDS

2,894,989

2,824,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by:

R A Lockwood - Director

1.	STATUTORY INFORMATION

Cool-Stak 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

At the balance sheet date the company had a working capital deficit of £106,162 by virtue of its current liabilities exceeding its current assets. The directors are confident that the going concern basis for the preparation of the financial statements is appropriate, and have confirmed their continuing support for the company in writing.

Turnover

Turnover represents net invoiced sales of goods and provision of warehousing services, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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.

Freehold property

-

2% on cost

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Freehold property as a class of assets within property, plant and equipment has been measured under the revaluation model. As such it is carried at its fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is carried at fair value determined annually by external valuers or based on the opinion of the board of directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Valuation of investments

Investments in subsidiaries are measured at fair value.

Consolidation

The parent company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2006 not to prepare group accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

7,560

AMORTISATION

At 1 January 2024

4,410

Charge for year

1,512

At 31 December 2024

5,922

NET BOOK VALUE

At 31 December 2024

1,638

At 31 December 2023

3,150

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 January 2024

4,058,192

714,357

46,887

278,115

5,097,551

Additions

5,858

9,568

2,704

105,190

123,320

At 31 December 2024

4,064,050

723,925

49,591

383,305

5,220,871

DEPRECIATION

At 1 January 2024

-

504,994

31,400

127,119

663,513

Charge for year

67,481

51,792

2,392

46,515

168,180

At 31 December 2024

67,481

556,786

33,792

173,634

831,693

NET BOOK VALUE

At 31 December 2024

3,996,569

167,139

15,799

209,671

4,389,178

At 31 December 2023

4,058,192

209,363

15,487

150,996

4,434,038

Included in cost or valuation of land and buildings is freehold land of £ 690,000 (2023 - £ 690,000 ) which is not depreciated.

Cost or valuation at 31 December 2024 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2024

2,174,831

-

-

-

2,174,831

Cost

1,889,219

723,925

49,591

383,305

3,046,040

4,064,050

723,925

49,591

383,305

5,220,871

If freehold land and buildings had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

2,880,210

2,874,352

Aggregate depreciation

308,045

264,241

Value of land in freehold land and buildings

690,000

690,000

Freehold land and building were valued on an open market basis on 31 December 2024 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

155,300

238,930

394,230

Additions

-

105,190

105,190

Transfer to ownership

(35,714

)

(33,093

)

(68,807

)

At 31 December 2024

119,586

311,027

430,613

DEPRECIATION

At 1 January 2024

40,663

97,749

138,412

Charge for year

18,028

39,601

57,629

Transfer to ownership

(11,607

)

(15,254

)

(26,861

)

At 31 December 2024

47,084

122,096

169,180

NET BOOK VALUE

At 31 December 2024

72,502

188,931

261,433

At 31 December 2023

114,637

141,181

255,818

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

300,000

NET BOOK VALUE

At 31 December 2024

300,000

At 31 December 2023

300,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

300,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

333,109

333,109

Aggregate depreciation

(19,118

)

(16,387

)

Investment property was valued on an open market basis on 31 December 2024 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

222,073

227,707

Other debtors

47,483

40,647

269,556

268,354

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

94,010

74,093

Hire purchase contracts (see note 10)

70,334

91,804

Trade creditors

26,882

37,755

Amounts owed to group undertakings

26,329

67,365

Taxation and social security

118,626

108,761

Other creditors

40,164

36,194

376,345

415,972

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

1,283,291

1,366,320

Hire purchase contracts (see note 10)

86,520

83,582

1,369,811

1,449,902

Amounts falling due in more than five years:

Repayable by instalments

Bank loan repayable over 5 years

884,786

1,003,786

10.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

70,334

91,804

Between one and five years

86,520

83,582

156,854

175,386

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdraft

11,508

-

Bank loans

1,365,793

1,440,413

Hire purchase contracts

156,854

175,386

1,534,155

1,615,799

The bank loans are secured by way of legal charges in favour of Barclays Bank Plc over freehold property of the company and investment property of the company.

B W & T J Lockwood have also provided a personal guarantee of £350,000 in respect of group bank borrowings for the company and parent companies.

In addition there is an unlimited cross guarantee and debenture in favour of Barclays Bank PLC given by the company and its parent company Cool-Stak (2020) Limited in respect of the combined debt.

12.

RESERVES

Revaluation

reserve

£

At 1 January 2024

1,928,195

Reclassification

(22,715

)

At 31 December 2024

1,905,480

13.	RELATED PARTY DISCLOSURES

At the year end, an interest free loan amounting to £26,329 (2023 - £67,365) was owed to the parent company.