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Registered number: 04740958
Kool-it Services Limited
Unaudited Financial Statements
For The Year Ended 30 April 2025
Bennett Verby Limited
7 St Petersgate
Stockport
Cheshire
SK1 1EB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04740958
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 144,151 227,925
144,151 227,925
CURRENT ASSETS
Stocks 6 3,132 2,875
Debtors 7 480,957 165,238
Cash at bank and in hand 402,269 348,005
886,358 516,118
Creditors: Amounts Falling Due Within One Year 8 (572,196 ) (321,209 )
NET CURRENT ASSETS (LIABILITIES) 314,162 194,909
TOTAL ASSETS LESS CURRENT LIABILITIES 458,313 422,834
Creditors: Amounts Falling Due After More Than One Year 9 (29,251 ) (99,364 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (35,894 ) (43,306 )
NET ASSETS 393,168 280,164
CAPITAL AND RESERVES
Called up share capital 12 10,858 10,858
Share premium account 14,142 14,142
Profit and Loss Account 368,168 255,164
SHAREHOLDERS' FUNDS 393,168 280,164
Page 1
Page 2
For the year ending 30 April 2025 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Dearden
Director
6 October 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kool-it Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04740958 . The registered office is Unit 4 Albert Street, Droylsden, Manchester, M43 7BA.
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. 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. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. Goodwill has been fully amortised.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are IT Software. It is amortised to profit and loss account over its estimated economic life of 5 years. The IT software has been fully amortised.
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:
Plant & Machinery 25% Straight line
Motor Vehicles 20% Straight line
Fixtures & Fittings 25% Straight line
Computer Equipment 25% Straight line
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.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2024: 18)
19 18
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 May 2024 125,500 10,958 136,458
As at 30 April 2025 125,500 10,958 136,458
Amortisation
As at 1 May 2024 125,500 10,958 136,458
As at 30 April 2025 125,500 10,958 136,458
Net Book Value
As at 30 April 2025 - - -
As at 1 May 2024 - - -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2024 7,029 436,517 8,910 38,052 490,508
Additions - - 4,300 7,589 11,889
Disposals - (77,440 ) - - (77,440 )
As at 30 April 2025 7,029 359,077 13,210 45,641 424,957
...CONTINUED
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Page 5
Depreciation
As at 1 May 2024 7,029 221,695 8,563 25,296 262,583
Provided during the period - 64,915 1,007 6,286 72,208
Disposals - (53,985 ) - - (53,985 )
As at 30 April 2025 7,029 232,625 9,570 31,582 280,806
Net Book Value
As at 30 April 2025 - 126,452 3,640 14,059 144,151
As at 1 May 2024 - 214,822 347 12,756 227,925
6. Stocks
2025 2024
£ £
Stock 3,132 2,875
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 437,707 165,238
Other debtors 43,250 -
480,957 165,238
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 22,197 27,742
Trade creditors 318,702 160,209
Bank loans and overdrafts 10,000 12,671
Other creditors 22,943 3,790
Taxation and social security 198,354 116,797
572,196 321,209
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 28,418 88,531
Bank loans 833 10,833
29,251 99,364
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10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 22,197 27,742
Later than one year and not later than five years 28,418 88,531
50,615 116,273
50,615 116,273
11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 May 2024 43,306 43,306
Utilised (7,412 ) (7,412)
Balance at 30 April 2025 35,894 35,894
12. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 10,858 10,858
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