Coglan Airconditioning Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04624778 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Coglan Airconditioning Services Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

C Coughlan

Mrs A A Coughlan

SECRETARY:

C Coughlan

REGISTERED OFFICE:

South Building

Upper Farm

Wootton St Lawrence

Basingstoke

Hampshire

RG23 8PE

REGISTERED NUMBER:

04624778 (England and Wales)

ACCOUNTANTS:

Sherringtons

Chartered Certified Accountants

South Building

Upper Farm

Wootton St Lawrence

Basingstoke

Hampshire

RG23 8PE

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coglan Airconditioning Services Limited for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Coglan Airconditioning Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Coglan Airconditioning Services Limited and state those matters that we have agreed to state to the Board of Directors of Coglan Airconditioning Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Coglan Airconditioning Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Coglan Airconditioning Services Limited. You consider that Coglan Airconditioning Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Coglan Airconditioning Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sherringtons

Chartered Certified Accountants

South Building

Upper Farm

Wootton St Lawrence

Basingstoke

Hampshire

RG23 8PE

25 September 2025

CURRENT ASSETS

Debtors

5

327,478

283,651

Cash at bank

17,356

-

344,834

283,651

CREDITORS

Amounts falling due within one year

6

(221,098

)

(153,887

)

NET CURRENT ASSETS

123,736

129,764

TOTAL ASSETS LESS CURRENT
LIABILITIES

123,736

129,764

CREDITORS

Amounts falling due after more than one
year

7

(3,799

)

(13,067

)

PENSION ASSET/(LIABILITY)

21,000

(98,000

)

NET ASSETS

140,937

18,697

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

140,837

18,597

SHAREHOLDERS' FUNDS

140,937

18,697

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 25 September 2025 and were signed on its behalf by:

C Coughlan - Director

1.	STATUTORY INFORMATION

Coglan Airconditioning Services 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.

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.

Included in the financial statements is an actuarial loss of £76,000 in respect of the present value of defined benefit pension obligations. Given the future uncertainties and estimates used the in calculation of the actuarial loss, the directors consider that the going concern basis is still appropriate.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

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.

Pension costs and other post-retirement benefits

The company has created a defined benefit pension scheme to award key employees for their performance. The company decided to make provision for such an award during the financial period to 31 December 2017. The provision represented the directors' best estimate of the present value of the cost to the company due to the obligation in the financial period.

For a defined benefit scheme, the liability recorded in the balance sheet is the present value of the defined obligation at that date. The defined benefit obligation is calculated at least every three years by independent actuaries.

Actuarial gains and losses are recognised in full in the period in which they occur and are shown in Other Comprehensive Income.

Current and past service costs, along with settlements or curtailments, are charged to the Income Statement. Interest on pension plan liabilities are recognised within financial expense.

Employer financed retirement benefit scheme

The company has established an employer financed retirement benefit scheme for the benefit of its officers, employers and their wider families, The Coglan Airconditioning Services Limited Employer Financed Retirement Benefit Scheme ("The Scheme").

In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment arrangements" the company does not include the assets and liabilities for The Scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or other access to those present economic benefits.

Employee benefit trust

The company has established an employee benefit trust for the benefit of its employees, The Coglan Airconditioning Services Limited 2014 Employee Benefit Trust ("The Scheme").

In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment arrangements" the company does not include the assets and liabilities for The Scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or other access to those present economic benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

2,913

21,191

48,549

4,687

77,340

Disposals

(2,913

)

(21,191

)

(30,599

)

(4,687

)

(59,390

)

At 31 December 2024

-

17,950

-

17,950

DEPRECIATION

At 1 January 2024

2,913

21,191

48,549

4,687

77,340

Eliminated on disposal

(2,913

)

(21,191

)

(30,599

)

(4,687

)

(59,390

)

At 31 December 2024

-

17,950

-

17,950

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

34,118

20,367

Other debtors

293,360

263,284

327,478

283,651

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

10,368

30,187

Trade creditors

37,127

39,622

Taxation and social security

161,480

67,035

Other creditors

12,123

17,043

221,098

153,887

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

3,799

13,067

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank overdraft

-

19,087

The company has a £20,000 overdraft facility which is secured against the directors' residential property.

9.	EMPLOYER PENSION OBLIGATIONS

The company has agreed to fund a defined benefit pension scheme in respect of key employees. The most recent actuarial valuation of the obligations of £199,000 (2021 - £318,000) was on 31 December 2024, the next valuation being due on 31 December 2027. The director considers that there have been no material changes to the valuation in subsequent years.

The principal assumptions used were:

Discount rate - 5.5%

Inflation RPI - 3.4%

Inflation CPI - 2.4%

Pre and post retirement mortality - S4PMA tables with improvements in the CMI 2023 model and a long term rate of improvement of 1%.

Present value of defined benefit obligations £199,000

Fair value of scheme assets £220,000

Asset recognised in the balance sheet £21,000

Movements in the present value of the defined benefit obligations were as follows:

At the beginning of the year £318,000

Current Service Cost £0

Interest cost £6,000

Actuarial (gains) (£125,000)

At the end of the year £199,000

10.

RESERVES

Included within the retained profits of £140,837 are non-distributable profits arising from changes in the actuarial valuation of the company's pension scheme totalling £46,000 (2023 - losses £79,000). The total distributable reserves are therefore £94,837.