Coolant Management Services Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 02450183 (England and Wales)

Financial Statements for the Year Ended 31 March 2023

for

Coolant Management Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S E Gamble

R Gamble

SECRETARY:

Mrs S E Gamble

REGISTERED OFFICE:

Snapethorpe House

Rugby Road

Lutterworth

Leicestershire

LE17 4HN

REGISTERED NUMBER:

02450183 (England and Wales)

ACCOUNTANTS:

Blythe Phillips & Co.

8/9 Earls Way

Halesowen

West Midlands

B63 3HR

BANKERS:

Barclays Bank PLC

Leicester Town Hall Square

Leicester

Leicestershire

LE87 2BB

FIXED ASSETS

Tangible assets

4

1,919

2,558

CURRENT ASSETS

Stocks

3,061

3,857

Debtors

5

43,057

54,609

Cash at bank

51,381

40,062

97,499

98,528

CREDITORS

Amounts falling due within one year

6

45,552

49,734

NET CURRENT ASSETS

51,947

48,794

TOTAL ASSETS LESS CURRENT LIABILITIES

53,866

51,352

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

7

6,900

6,900

Retained earnings

45,966

43,452

SHAREHOLDERS' FUNDS

53,866

51,352

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2023 and were signed on its behalf by:

R Gamble - Director

1.	STATUTORY INFORMATION

Coolant Management Services 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Plant and machinery etc

-

50% on cost, 25% on reducing balance and 20% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

11,724

DEPRECIATION

At 1 April 2022

9,166

Charge for year

639

At 31 March 2023

9,805

NET BOOK VALUE

At 31 March 2023

1,919

At 31 March 2022

2,558

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

41,447

52,044

Other debtors

1,610

2,565

43,057

54,609

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

27,307

33,002

Taxation and social security

8,285

7,772

Other creditors

9,960

8,960

45,552

49,734

7.

RESERVES

Revaluation

reserve

£

At 1 April 2022

and 31 March 2023

6,900

8.	RELATED PARTY DISCLOSURES

The company purchases goods and services at market value from Coolant Control Limited of whom the director R Gamble is also a director and controlling shareholder.