Cool-Stak Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01176011 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

COOL-STAK LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

B W Lockwood

Mrs T J Lockwood

SECRETARY:

B W Lockwood

REGISTERED OFFICE:

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

REGISTERED NUMBER:

01176011 (England and Wales)

ACCOUNTANTS:

Wheelers

Chartered Accountants & Tax Consultants

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

FIXED ASSETS

Tangible assets

2

2,809,514

2,761,851

Investments

3

-

2,809,514

2,761,851

CURRENT ASSETS

Stocks

1,624

2,405

Debtors

4

1,440,310

1,417,186

1,441,934

1,419,591

CREDITORS

Amounts falling due within one year

5

307,982

312,586

NET CURRENT ASSETS

1,133,952

1,107,005

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,943,466

3,868,856

CREDITORS

Amounts falling due after more than one
year

5

(1,778,530

)

(1,898,873

)

PROVISIONS FOR LIABILITIES

(57,000

)

(43,500

)

NET ASSETS

2,107,936

1,926,483

CAPITAL AND RESERVES

Called up share capital

6

1,050

Revaluation reserve

990,991

Profit and loss account

1,115,895

934,442

SHAREHOLDERS' FUNDS

2,107,936

1,926,483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 3 September 2016 and were signed on its behalf
by:

B W Lockwood - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Preparation of consolidated financial statements

The financial statements contain information about Cool-Stak Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents net invoiced sales of goods and provision of warehousing services, excluding value added

tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

No provision has been made for depreciation of freehold properties. The directors are of the opinion that the

recoverable amount of the freehold properties is in excess of the carrying value of that class of assets. An annual

impairment review is performed by the directors to ensure no change to this opinion has occurred.

Stocks

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

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

Going concern

The directors believe that the company is well placed to manage its financial risks successfully and have

reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable

future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual

financial statements.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

2,946,000

Additions

125,111

Disposals

(51,467

)

At 31 December 2015

3,019,644

DEPRECIATION

At 1 January 2015

184,149

Charge for year

59,602

Eliminated on disposal

(33,621

)

At 31 December 2015

210,130

NET BOOK VALUE

At 31 December 2015

2,809,514

At 31 December 2014

2,761,851

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

50

PROVISIONS

At 1 January 2015

and 31 December 2015

50

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Kings Lynn Warehousing & Distribution Limited

Nature of business: Warehousing, packaging and distribution

%

Class of shares:

holding

Ordinary

100.00

31.12.15

31.12.14

£

Aggregate capital and reserves

87,118

36,084

Profit for the year

51,034

45,139

The value of the investment has been impaired down to nil in the accounts.

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 1,231,483 (31.12.14 - £ 1,209,560 )

5.

CREDITORS

Creditors include an amount of £ 1,879,266 (31.12.14 - £ 1,873,637 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.12.15

31.12.14

£

Repayable by instalments

1,315,299

1,418,421

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

1,050

Ordinary

£1

1,050