REGISTERED NUMBER: 03243025 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

Absolute Zero Air Conditioning Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J Hurst

SECRETARY:

REGISTERED OFFICE:

EMAIL ONLY

The Gatehouse

Gatehouse Way

Aylesbury

Buckinghamshire

HP19 8DB

REGISTERED NUMBER:

03243025 (England and Wales)

ACCOUNTANTS:

Smiths Chartered Accountants

Unit 114, Boston House

Grove Technology Park

Wantage

Oxon

OX12 9FF

FIXED ASSETS

Tangible assets

4

11,793

22,996

CURRENT ASSETS

Stocks

3,500

2,996

Debtors

5

81,962

77,954

Cash at bank and in hand

222

89

85,684

81,039

CREDITORS

Amounts falling due within one year

6

74,302

55,505

NET CURRENT ASSETS

11,382

25,534

TOTAL ASSETS LESS CURRENT LIABILITIES

23,175

48,530

CREDITORS

Amounts falling due after more than one year

7

8,017

19,083

NET ASSETS

15,158

29,447

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

15,156

29,445

SHAREHOLDERS' FUNDS

15,158

29,447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 23 March 2018 and were signed by:

S J Hurst - Director

1.	STATUTORY INFORMATION

Absolute Zero Air Conditioning 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

straight line

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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 operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2016

29,463

47,872

2,182

79,517

Additions

-

1,650

-

1,650

Disposals

-

(29,689

)

-

(29,689

)

At 30 June 2017

29,463

19,833

2,182

51,478

DEPRECIATION

At 1 July 2016

29,026

25,313

2,182

56,521

Charge for year

110

3,821

-

3,931

Eliminated on disposal

-

(20,767

)

-

(20,767

)

At 30 June 2017

29,136

8,367

2,182

39,685

NET BOOK VALUE

At 30 June 2017

327

11,466

-

11,793

At 30 June 2016

437

22,559

-

22,996

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

81,899

77,278

Other debtors

63

676

81,962

77,954

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Bank loans and overdrafts

19,863

8,695

Hire purchase contracts

3,096

6,343

Trade creditors

15,043

8,430

Taxation and social security

28,211

21,805

Other creditors

8,089

10,232

74,302

55,505

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Hire purchase contracts

8,017

19,083

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.17

30.6.16

value:

£

£

1

ORDINARY

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1 July 2016

29,445

Profit for the year

62,211

Dividends

(76,500

)

At 30 June 2017

15,156

10.	FIRST YEAR ADOPTION

The Company has transitioned to FRS 102 from previously being prepared under the historical cost

convention and in accordance with the Financial Reporting Standards for Smaller Entities (effective

January 2015) as at 1st July 2016.