City Air Conditioning Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

City Air Conditioning Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10723695 . The registered office is 4 Gamma House , Culpeper Close , Medway City Estate, Rochester, Kent , ME2 4HU.

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. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract and includes retentions. 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are cryptocurrencies and are recorded under the revaluation model and reviewed for impairment on an annual basis.

2.5. 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:

Leasehold	15% Straight line
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	25% Reducing balance
Computer Equipment	25% Reducing balance

2.6. 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 the profit and loss account as incurred.

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City Air Conditioning Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. 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.

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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. 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: 10 (2024: 12)

4. Intangible Assets

	Other
	£
Cost or Valuation
As at 1 April 2024	24,783
Revaluations	(1,894 )

As at 31 March 2025	22,889

Net Book Value
As at 31 March 2025	22,889

As at 1 April 2024	24,783

5. Tangible Assets

	Land & Property
	Leasehold	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	4,780	70,697	32,640	10,285	118,402
Additions	-	39,475	530	9,168	49,173

As at 31 March 2025	4,780	110,172	33,170	19,453	167,575

...CONTINUED

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City Air Conditioning Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	1,333	26,858	13,185	4,506	45,882
Provided during the period	717	17,539	4,985	2,524	25,765

As at 31 March 2025	2,050	44,397	18,170	7,030	71,647

Net Book Value
As at 31 March 2025	2,730	65,775	15,000	12,423	95,928

As at 1 April 2024	3,447	43,839	19,455	5,779	72,520

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	52,333	25,917

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,180,761	558,612
Prepayments and accrued income	21,537	22,900
Other debtors	79,170	56,519
VAT	120,262	25,807
Amounts owed by group undertakings	232,347	-
Amounts owed by participating interests	-	122,652

	1,634,077	786,490

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	10,807	5,422
Trade creditors	893,658	374,622
Bank loans and overdrafts	10,000	9,660
Corporation tax	88,445	30,585
Other taxes and social security	29,242	38,723
Other creditors	104,455	61,311
Directors' loan accounts	15,423	5,588

	1,152,030	525,911

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	40,616	16,639
Bank loans	2,030	12,572

	42,646	29,211

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City Air Conditioning Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	13,609	5,422
Later than one year and not later than five years	42,256	16,639

	55,865	22,061
Less: Finance charges allocated to future periods	4,442	-

	51,423	22,061

10. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	23,574	17,570

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200	200

12. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	25,248	25,248
Later than one year and not later than five years	56,808	82,056

	82,056	107,304

13. Directors Advances, Credits and Guarantees

Included within creditors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Thomas Egan	5,361	601	5,219	-	9,979
Mr James Kitchen	227	1	5,218	-	5,444

The above loan is unsecured, interest free, repayable on demand and ranks equally with other unsecured creditors of the company.

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City Air Conditioning Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

14. Related Party Transactions

City Contractors Limited