REGISTERED NUMBER: 06216327 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

ABOUT COOLING LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

DIRECTOR:

M Knight

SECRETARY:

A Freer

REGISTERED OFFICE:

266-268 High Street

Waltham Cross

Hertfordshire

EN8 7EA

REGISTERED NUMBER:

06216327 (England and Wales)

ACCOUNTANTS:

UCS Accountants

Certified Public Accountants

266-268 High Street

Waltham Cross

Hertfordshire

EN8 7EA

FIXED ASSETS

Tangible assets

4

15,818

13,967

CURRENT ASSETS

Stocks

40,025

82,330

Debtors

5

121,664

43,231

Cash at bank and in hand

146,451

150,797

308,140

276,358

CREDITORS

Amounts falling due within one year

6

145,295

135,758

NET CURRENT ASSETS

162,845

140,600

TOTAL ASSETS LESS CURRENT LIABILITIES

178,663

154,567

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

178,661

154,565

SHAREHOLDERS' FUNDS

178,663

154,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 19 January 2018 and were signed by:

M Knight - Director

1.	STATUTORY INFORMATION

About Cooling 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.

The financial statements have been prepared on the historical cost basis except for the modification to a fair

value basis for certain financial instruments as specified in the accounting policies below.

The financial statements are presented in pounds sterling, which is the functional currency of the company.

FIRST YEAR ADOPTION OF FINANCIAL REPORTING STANDARD 102 ( FRS 102) SECTION 1A

These financial statements for the year ended 31 May 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date

of transition to FRS 102 Section 1A is 1 June 2015.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

Preparation of the financial statements requires management to make significant judgements and estimates. The

items in the financial statements where these judgement and estimates have been made include:

a - Critical judgements in applying accounting policies

There are no critical judgements (apart from those involving estimates) that have had a significant effect on

amounts recognised in the financial statements.

b - Key accounting estimates and assumptions

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will,

by definition, seldom equal the related actual results. There are no key estimates and assumptions that have

significant potential impact upon the carrying values of assets and liabilities.

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.

Tools

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

STOCKS

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and

loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other

debtors and creditors, are initially measured at present value of the future cash flows and subsequently at

amortised cost using the effective interest method. Debt instruments that are payable or receivable within one

year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount

of the cash and other consideration, expected to be paid or received.

However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a

trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in

case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the

present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and

subsequently at amortised cost.

Financial assets that are measured at cost and amortised 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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents include cash in hand and at bank. Bank overdrafts are shown within borrowings in

current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

Tools

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2016

4,033

21,729

6,573

32,335

Additions

224

5,295

287

5,806

At 31 May 2017

4,257

27,024

6,860

38,141

DEPRECIATION

At 1 June 2016

2,759

10,668

4,941

18,368

Charge for year

300

3,271

384

3,955

At 31 May 2017

3,059

13,939

5,325

22,323

NET BOOK VALUE

At 31 May 2017

1,198

13,085

1,535

15,818

At 31 May 2016

1,274

11,061

1,632

13,967

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

95,721

30,979

Other debtors.

25,943

12,252

121,664

43,231

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade creditors

42,033

63,458

Company credit card

2,804

2,774

Tax

21,985

13,170

Social security and other taxes

3,190

7,815

VAT

37,423

25,791

Directors' current accounts

35,000

20,000

Accrued expenses

2,860

2,750

145,295

135,758

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

2

Ordinary Shares

1

2

2

8.

RESERVES

Retained

earnings

£

At 1 June 2016

154,565

Profit for the year

84,856

Dividends

(60,760

)

At 31 May 2017

178,661

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Knight and Mrs L Knight.