Company Registration No. 08926383 (England and Wales)
AIR2O COOLING LIMITED
Unaudited accounts
for the year ended 31 December 2024
AIR2O COOLING LIMITED
Unaudited accounts
Contents
AIR2O COOLING LIMITED
Company Information
for the year ended 31 December 2024
Directors
Karl James Sullivan
Michael Robert Sullivan
Company Number
08926383 (England and Wales)
Registered Office
Unit 9 Smethurst Lane
Farnworth
Bolton
Greater Manchester
BL4 0AN
England
Accountants
Eighty Twenty Business Limited
Bluebells
Grane Road
Haslingden
Lancashire
BB4 4AT
AIR2O COOLING LIMITED
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
5,769
2,449
Creditors: amounts falling due within one year
(2,654)
(775)
Net current assets
78,457
79,451
Total assets less current liabilities
78,457
79,451
Creditors: amounts falling due after more than one year
(527,227)
(507,360)
Net liabilities
(448,770)
(427,909)
Called up share capital
100
100
Profit and loss account
(448,870)
(428,009)
Shareholders' funds
(448,770)
(427,909)
For the 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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by
Michael Robert Sullivan
Director
Company Registration No. 08926383
AIR2O COOLING LIMITED
Notes to the Accounts
for the year ended 31 December 2024
AIR2O COOLING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08926383. The registered office is Unit 9 Smethurst Lane, Farnworth, Bolton, Greater Manchester, BL4 0AN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 Years
Expenditure on research and development is written off in the year in which it is incurred.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The accounts are presented in £ sterling.
AIR2O COOLING LIMITED
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Amounts falling due after more than one year
Amounts due from group undertakings etc.
71,285
71,285
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
(756)
(756)
7
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
527,227
384,543
Included in Amounts owed to group undertakings is a balance of £527,227 (31 December 2023: £382,844) owed to Innovative Climatic Technologies Corp (a US entity).
Included in Other Creditors is a balance of £0 (31 December 2023: £122,817) owed to Cosaf Environments Limited.
8
Transactions with related parties
Included in Note 5 | Debtors | Amounts due from group undertakings, is a balance of £71,285 (31 December 2023: £71,285) owed by Air2O Cooling LLC (a US entity).
AIR2O COOLING LIMITED
Notes to the Accounts
for the year ended 31 December 2024
The ultimate parent company is Innovative Climatic Technologies Corp, a company registered in the United States of America. Registered Office; 425 E Pinnacle Peak, Suite 100, Phoenix, Arizona 85024
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).