Britcold Ltd - Accounts

Britcold Ltd - Accounts

BRITCOLD LTD - Company Information

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Registered Number: 12001583


 

 

 

BRITCOLD LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

Britcold Ltd
Contents Page
For the year ended 31 May 2023
Directors Amin MIRSHEKARAN
Esmail MIRSHEKARAN
Registered Number 12001583
Registered Office Little Yews
105 London Road
GU19 5DS
Accountants Navab and Co. Accountants Ltd
GROUND FLOOR, 143-145 THE BROADWAY
WEST EALING
LONDON
W13 9BE
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 May 2023.
Principal activities
Principal activity of the company during the financial year was of retail sale of electrical household appliances in specialised stores
Directors
The directors who served the company throughout the year were as follows:
Amin MIRSHEKARAN
Esmail MIRSHEKARAN
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Amin MIRSHEKARAN
Director

Date approved: 31 May 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 May 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Navab and Co. Accountants Ltd
31 May 2023



....................................................
Navab and Co. Accountants Ltd
GROUND FLOOR, 143-145 THE BROADWAY
WEST EALING
LONDON
W13 9BE
31 May 2024
3
 
 		 Notes
 		 2023
£		   2022
£
Turnover 606,948    663,058 
Cost of sales (617,226)   (565,702)
Gross profit/loss (10,278)   97,356 
Selling and distribution costs (5,116)   (679)
Administrative expenses (86,789)   (86,634)
Operating profit/(loss) (102,183)   10,043 
Interest payable and similar charges (1,250)   0 
Profit/(Loss) on ordinary activities before taxation (103,433)   10,043 
Tax on profit on ordinary activities 0    (1,908)
Profit/(Loss) for the financial year (103,433)   8,135 
 
4
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 26,434    14,586 
26,434    14,586 
Current assets      
Stocks 4 225,000    166,975 
Cash at bank and in hand 86,337    124,527 
311,337    291,502 
Creditors: amount falling due within one year 5 (77,006)   (33,596)
Net current assets 234,331    257,906 
 
Total assets less current liabilities 260,765    272,492 
Creditors: amount falling due after more than one year 6 (350,543)   (258,837)
Net assets (89,778)   13,655 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account (89,878)   13,555 
Shareholder's funds (89,778)   13,655 
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 May 2024 and were signed on its behalf by:


-------------------------------
Amin MIRSHEKARAN
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 June 2021 100  5,420  5,520 
Profit for the year 8,135  8,135 
Total comprehensive income for the year -  8,135  8,135 
Total investments by and distributions to owners -  -  - 
At 31 May 2022 100  13,555  13,655 
At 01 June 2022 100  13,555  13,655 
Profit for the year (103,433) (103,433)
Total comprehensive income for the year -  (103,433) (103,433)
Total investments by and distributions to owners -  -  - 
At 31 May 2023 100  (89,878) (89,778)
6
General Information
Britcold Ltd is a private company, limited by shares, registered in , registration number 12001583, registration address Little Yews, 105 London Road, GU19 5DS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 18 Reducing Balance
Plant and Machinery 18 Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 June 2022 2,350    20,708    23,058 
Additions -    17,650    17,650 
Disposals -    -    - 
At 31 May 2023 2,350    38,358    40,708 
Depreciation
At 01 June 2022 770    7,702    8,472 
Charge for year 284    5,518    5,802 
On disposals -    -    - 
At 31 May 2023 1,054    13,220    14,274 
Net book values
Closing balance as at 31 May 2023 1,296    25,138    26,434 
Opening balance as at 01 June 2022 1,580    13,006    14,586 

The net book value of Motor Vehicles includes £ 17,650 in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2023
£		   2022
£
Raw Materials 225,000    166,975 
225,000    166,975 

5.

Creditors: amount falling due within one year

2023
£		   2022
£
Corporation Tax 0    1,908 
Other Creditors 34,940    16,667 
Directors' Current Accounts 30,887    0 
VAT 11,179    15,021 
77,006    33,596 

6.

Creditors: amount falling due after more than one year

2023
£		   2022
£
Trade Creditors 241,200    150,098 
Bank Loans & Overdrafts (secured) 30,843    40,239 
Other Creditors 78,500    68,500 
350,543    258,837 

7