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Registered number: 15482359 AIRCOOL PROPERTIES LTD UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2025
AIRCOOL PROPERTIES LTD CONTENTS
| Page
Company information | 1
Balance sheet | 2 - 3
Notes to the financial statements | 4 - 8
AIRCOOL PROPERTIES LTD COMPANY INFORMATION
Directors | C G McCallin
| Y Y J Wong
Registered number | 15482359
Registered office | 16 Great Queen Street
| London
| England
| WC2B 5AH
Accountants | Blick Rothenberg Limited
| Chartered Accountants
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
|  | REGISTERED NUMBER:15482359
AIRCOOL PROPERTIES LTD BALANCE SHEET AS AT 30 JUNE 2025
|  | 2025
Note |  | £
Fixed assets |  |  |
Investment property | 4 |  | 595,000
Current assets |  |  |
Debtors: amounts falling due within one year | 5 | 585 |
Cash at bank and in hand |  | 1,507 |
Creditors: amounts falling due within one year | 6 | (91,988) |
Net current liabilities |  |  | (89,896)
Total assets less current liabilities |  |  | 505,104
Creditors: amounts falling due after more than one year | 7 |  | (510,000)
Net liabilities |  |  | (4,896)
Capital and reserves |  |  |
Called up share capital | 9 |  | 2
Profit and loss account |  |  | (4,898)
Net deficit |  |  | (4,896)
Page 2
|  | REGISTERED NUMBER:15482359
AIRCOOL PROPERTIES LTD BALANCE SHEET (CONTINUED) AS AT 30 JUNE 2025 The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Y Y J Wong
Director
Date: 3 March 2026
The notes on pages 4 to 8 form part of these financial statements. Page 3
AIRCOOL PROPERTIES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2025
1. | General information
Aircool Properties Ltd is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, London, WC2B 5AH. These financial statements have been prepared for a long period from 11 February 2024 to 30 June 2025 being the first period since incorporation. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The directors consider this basis to be appropriate as the company has sufficient facilities available from its shareholders to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.
| 2.3 | Revenue
Revenue comprises rental income from tenants of the company’s investment properties. Rental income is recognised on an accruals basis in the period in which it is earned.
| 2.4 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss. Page 4
AIRCOOL PROPERTIES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.5 | Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including cash and bank balances, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Financial liabilities Basic financial liabilities, including trade and other creditors and bank loans, 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 payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Page 5
AIRCOOL PROPERTIES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2025 2.Accounting policies (continued)
|  | Financial instruments (continued)
Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
| 2.6 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.7 | Share capital
Ordinary shares are classified as equity.
| 2.8 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.9 | Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
| 2.10 | Current tax
The tax expense for the year comprises current tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Page 6
AIRCOOL PROPERTIES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
3. | Employees
| The average monthly number of employees, including directors, during the period was 2.
4. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| Additions at cost | 595,000
| At 30 June 2025 | 595,000
The 2025 valuations were made by the directors, on an open market value basis.
5. | Debtors
|  |  |  |  | 2025
|  |  |  |  | £
| Prepayments and accrued income | 585
|  | 585
6. | Creditors: amounts falling due within one year
|  |  |  |  | 2025
|  |  |  |  | £
| Trade creditors | 1,548
| Other creditors | 86,420
| Accruals and deferred income | 4,020
|  | 91,988
Page 7
AIRCOOL PROPERTIES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2025
7. | Creditors: amounts falling due after more than one year
|  |  |  |  | 2025
|  |  |  |  | £
| Bank loans | 510,000
| The bank loans are secured by a fixed charge over the assets of the company. The carrying amount of assets pledged as securities is £595,000.
8. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025
|  |  |  |  | £
| Amounts falling due after more than 5 years |
| Bank loans | 510,000
|  | 510,000
9. | Share capital
|  |  |  |  | 2025
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 2 Ordinary shares of £1.00 each | 2
Upon incorporation 2 Ordinary £1 shares were allotted and fully paid up.
10. | Related party transactions
| Within other creditors there is an amount of £84,920 due to the directors of the company. The loan is interest free and repayable on demand.
Page 8