Delta T Cooling Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Delta T Cooling Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10433408 . The registered office is Unit 9 Varity Park,, Vicarage Farm Park, Peterborough, PE1 5GU.

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.

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. 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% reducing balance
Motor vehicles	25% reducing balance
Office equipment	25% reducing balance

2.4. 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.

2.5. 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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Delta T Cooling Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” and Section 12 “Other Financial Instruments Issues” of FRS 102 in full.

Basic financial assets, including trade and other debtors, cash and bank balances, and investments in ordinary shares that are not publicly traded, are initially recognised at transaction price unless the arrangement constitutes a financing transaction Such assets are subsequently carried at amortised cost using the effective interest method, less impairment where applicable.

Basic financial liabilities, including trade and other creditors, bank loans, director loans, and amounts owed to group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Debt instruments are subsequently measured at amortised cost using the effective interest method.

Financial assets are derecognised when the contractual rights to the cash flows expire or are settled. Financial liabilities are derecognised when the obligation is discharged, cancelled, or expires.

Impairment losses are recognised where there is objective evidence that a financial asset is impaired.

2.7. 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Delta T Cooling Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

2.9. Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

2.7. Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method

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. Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.10. Interest income

Interest income is recognised in the profit and loss using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 2)

4. Tangible assets

	Plant & machinery	Motor vehicles	Office equipment	Total
	£	£	£	£
Cost
As at 1 November 2023	3,868	36,989	2,207	43,064
Additions	-	-	1,475	1,475

As at 31 October 2024	3,868	36,989	3,682	44,539

Depreciation
As at 1 November 2023	581	2,783	1,030	4,394
Provided during the period	821	8,551	493	9,865

As at 31 October 2024	1,402	11,334	1,523	14,259

Net Book Value
As at 31 October 2024	2,466	25,655	2,159	30,280

As at 1 November 2023	3,287	34,206	1,177	38,670

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Delta T Cooling Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	58,268	37,068
Other debtors	74,372	59,617

	132,640	96,685
Due after more than one year
Other debtors	22,444	18,401

	155,084	115,086

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	10,180	10,891
Trade creditors	12,871	25,972
Bank loans and overdrafts	25,556	6,144
Other creditors	3,262	5,281
Taxation and social security	93,631	49,870

	145,500	98,158

Obligations under finance lease and hire purchase contracts of £10,180 (2023: £10,891), due within one year, are secured by

the company.

The director has personally guaranteed the bank loans due within one year.

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	19,723	27,840
Bank loans	35,285	42,491

	55,008	70,331

Obligations under finance lease and hire purchase contracts of £19,723 (2023: £27,840), due after one year, are secured by

the company.

The director has pesonally guaranteed the bank loans due after more than one year.

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

9. Pension Commitments

The company operates a defined contribution pension scheme for its employees.The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £910 (2023: £nil) were due to the fund. They are included in other creditors.

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Delta T Cooling Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

10. Directors Advances, Credits and Guarantees

During the year loans made to the director totalled £91,104 (2023: £78,378) and repayments totalled £80,864 (2023: £73,962). The amount owed by the director to the company at the year end totalled £67,205 (2023: £55,225). Interest of £1,740 (2023: £1,141) has been charged on this loan. This amount is included within other debtors.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	4		30,280		38,670

			30,280		38,670
CURRENT ASSETS
Stocks		22,301		15,569
Debtors	5	155,084		115,086
Cash at bank and in hand		-		11,537

		177,385		142,192
Creditors: Amounts Falling Due Within One Year	6	(145,500 )		(98,158 )

NET CURRENT ASSETS (LIABILITIES)			31,885		44,034

TOTAL ASSETS LESS CURRENT LIABILITIES			62,165		82,704

Creditors: Amounts Falling Due After More Than One Year	7		(55,008 )		(70,331 )

PROVISIONS FOR LIABILITIES
Deferred taxation			(6,144 )		(7,664 )

NET ASSETS			1,013		4,709

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			913		4,609

SHAREHOLDERS' FUNDS			1,013		4,709