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Registration number: 11690986

Koolwaters Agency Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 22 May 2025

Koolwaters Agency Ltd

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 6

Koolwaters Agency Ltd

(Registration number: 11690986)
Balance Sheet as at 22 May 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 10,349 | 28,392
Current assets |  |  |
Debtors | 5 | 187,756 | 364,770
Cash at bank and in hand |  | 613,054 | 392,004
|  | 800,810 | 756,774
Creditors: Amounts falling due within one year | 6 | (854,225) | (777,679)
Net current liabilities |  | (53,415) | (20,905)
Total assets less current liabilities |  | (43,066) | 7,487
Provisions for liabilities |  | (1,213) | (5,636)
Net (liabilities)/assets |  | (44,279) | 1,851
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (44,379) | 1,751
Shareholders' (deficit)/funds |  | (44,279) | 1,851

For the financial year ending 22 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 November 2025 and signed on its behalf by:

M C Azevedo Director |  |

Koolwaters Agency Ltd

Notes to the Unaudited Financial Statements for the Year Ended 22 May 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Freshford House
Redcliffe Way
Bristol
England
BS1 6NL

These financial statements were authorised for issue by the Board on 14 November 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts within the financial statements are rounded to the nearest £.

Going concern

The company's balance sheet as at 22 May 2024 shows net liabilities of £44,279 (2024 - net assets of £1,851). At the time of approving the financial statements, the directors have a reasonable expectation that the company will have adequate resources to continue as a going concern. The directors are committed to ensure that the company is able to meet its liabilities on a day to day basis. Therefore, the financial statements have been prepared on a going concern basis.

Koolwaters Agency Ltd

Notes to the Unaudited Financial Statements for the Year Ended 22 May 2025

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the company;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.

Finance income and costs policy

Interest income and expenses are recognised using the effective interest rate method.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture, fittings and equipment | Straight line over 3 years

Koolwaters Agency Ltd

Notes to the Unaudited Financial Statements for the Year Ended 22 May 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Koolwaters Agency Ltd

Notes to the Unaudited Financial Statements for the Year Ended 22 May 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 4 (2024 - 3).

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 23 May 2024 | 42,974 | 42,974
Additions | 3,650 | 3,650
Disposals | (9,363) | (9,363)
At 22 May 2025 | 37,261 | 37,261
Depreciation
At 23 May 2024 | 14,582 | 14,582
Charge for the year | 21,693 | 21,693
Eliminated on disposal | (9,363) | (9,363)
At 22 May 2025 | 26,912 | 26,912
Carrying amount
At 22 May 2025 | 10,349 | 10,349
At 22 May 2024 | 28,392 | 28,392

Koolwaters Agency Ltd

Notes to the Unaudited Financial Statements for the Year Ended 22 May 2025

5 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 174,019 | 344,408
Amounts owed by related parties | 7 | 544 | 5,871
Other debtors |  | 13,193 | 14,491
|  | 187,756 | 364,770

6 | Creditors

Due within one year | Note | 2025 £ | 2024 £
Trade creditors |  | 757,616 | 676,884
Social security and other taxes |  | 1,289 | 738
Other creditors |  | 1,662 | 2,763
Accruals |  | 6,437 | 5,388
Corporation tax liability |  | 87,221 | 91,906
|  | 854,225 | 777,679

7 | Related party transactions

Loans to related parties

2025 | Key management £ | Total £
At start of period | 5,871 | 5,871
Advanced | 544 | 544
Repaid | (5,871) | (5,871)
At end of period | 544 | 544

2024 | Key management £ | Total £
At start of period | 5,871 | 5,871
At end of period | 5,871 | 5,871

Terms of loans to related parties

Loans to key management are interest free and repayable on demand.