Company registration number 15140933 (England and Wales)
COOL STONE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
COOL STONE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
COOL STONE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investment property
3
4,220,000
Current assets
Debtors
4
5,003
Cash at bank and in hand
313,976
318,979
Creditors: amounts falling due within one year
5
(13,664)
Net current assets
305,315
Total assets less current liabilities
4,525,315
Creditors: amounts falling due after more than one year
6
(4,582,974)
Net liabilities
(57,659)
Capital and reserves
Called up share capital
7
100
Profit and loss reserves
(57,759)
Total equity
(57,659)

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

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 September 2025 and are signed on its behalf by:
E Ahmet
Director
Company registration number 15140933 (England and Wales)
COOL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Cool Stone Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 6, Anderson House, 12 St Martin's Lane, Beckenham, Kent, BR3 3XS.

1.1
Reporting period

The directors have elected to prepare these financial statements, which represent the company’s first set of accounts, for a 15 month 16 day period beginning from the date of incorporation of the company on 15 September 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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 FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover includes rental income and other fees receivable for management of an investment property portfolio. Rent receivable from tenants are measured at fair value. Rental income is recognised in the period to which it arises on an accrual basis and in accordance with the terms of the lease.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ t o all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

COOL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

COOL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
2
3
Investment property
2024
£
Fair value
At 15 September 2023
-
0
Transfers
4,595,000
Disposals
(375,000)
At 31 December 2024
4,220,000

The fair value of investment properties at the reporting date was based on a valuation carried out by third party experts. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location, together with a review of property rental yields. No depreciation is provided in respect of these properties.

4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
5,003
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
330
Taxation and social security
6,861
Other creditors
6,473
13,664
6
Creditors: amounts falling due after more than one year
2024
£
Other creditors
4,582,974
COOL STONE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
6
Creditors: amounts falling due after more than one year
(Continued)
- 5 -

Other creditors includes £2,582,974 for redeemable preference shares which are entitled to a non-cumulative dividend at the Bank of England rate. The preference shares have no voting rights.

7
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary A of £1 each
96
96
Ordinary B of £1 each
4
4
100
100
2024
2024
Preference share capital
Number
£
Issued and fully paid
Preference of £1 each
2,582,974
2,582,974
Preference shares classified as liabilities
2,582,974

On 15 September 202 3, the day of incorporation, the company issued 1 Ordinary share of £1 each, which were issued and fully paid.

On 31 October 2023, the business assets (excluding cash) and liabilities of Cool Stone Estates LLP were transferred to Cool Stone Limited in exchange for 100 Ordinary A shares of £1 each and 2,582,974 redeemable preference shares of £1 each.

On 30 October 2024, 1 Ordinary share was re-designated to 1 ordinary A share of £1 each.

On 30 October 2024, 95 Ordinary A shares and 4 Ordinary B shares of £1 each were issued and fully paid.

8
Related party transactions

At the period end the company was owed £4,575 by the director s of the company, This was cleared after the period end.

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