Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30falsetruetrueNo description of principal activity2022-05-01false5540 04418891 2022-05-01 2023-04-30 04418891 2021-05-01 2022-04-30 04418891 2023-04-30 04418891 2022-04-30 04418891 2021-05-01 04418891 c:Director1 2022-05-01 2023-04-30 04418891 d:PlantMachinery 2022-05-01 2023-04-30 04418891 d:PlantMachinery 2023-04-30 04418891 d:PlantMachinery 2022-04-30 04418891 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04418891 d:MotorVehicles 2022-05-01 2023-04-30 04418891 d:MotorVehicles 2023-04-30 04418891 d:MotorVehicles 2022-04-30 04418891 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04418891 d:FurnitureFittings 2022-05-01 2023-04-30 04418891 d:FurnitureFittings 2023-04-30 04418891 d:FurnitureFittings 2022-04-30 04418891 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04418891 d:ComputerEquipment 2022-05-01 2023-04-30 04418891 d:ComputerEquipment 2023-04-30 04418891 d:ComputerEquipment 2022-04-30 04418891 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04418891 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 04418891 d:CurrentFinancialInstruments 2023-04-30 04418891 d:CurrentFinancialInstruments 2022-04-30 04418891 d:Non-currentFinancialInstruments 2023-04-30 04418891 d:Non-currentFinancialInstruments 2022-04-30 04418891 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 04418891 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 04418891 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 04418891 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 04418891 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 04418891 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-04-30 04418891 d:ShareCapital 2022-05-01 2023-04-30 04418891 d:ShareCapital 2023-04-30 04418891 d:ShareCapital 2021-05-01 2022-04-30 04418891 d:ShareCapital 2022-04-30 04418891 d:ShareCapital 2021-05-01 04418891 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 04418891 d:RetainedEarningsAccumulatedLosses 2023-04-30 04418891 d:RetainedEarningsAccumulatedLosses 2021-05-01 2022-04-30 04418891 d:RetainedEarningsAccumulatedLosses 2022-04-30 04418891 d:RetainedEarningsAccumulatedLosses 2021-05-01 04418891 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 04418891 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 04418891 d:RetirementBenefitObligationsDeferredTax 2023-04-30 04418891 d:RetirementBenefitObligationsDeferredTax 2022-04-30 04418891 d:OtherDeferredTax 2023-04-30 04418891 d:OtherDeferredTax 2022-04-30 04418891 c:OrdinaryShareClass1 2022-05-01 2023-04-30 04418891 c:OrdinaryShareClass1 2023-04-30 04418891 c:OrdinaryShareClass1 2022-04-30 04418891 c:FRS102 2022-05-01 2023-04-30 04418891 c:Audited 2022-05-01 2023-04-30 04418891 c:FullAccounts 2022-05-01 2023-04-30 04418891 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 04418891 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 04418891 d:HirePurchaseContracts d:WithinOneYear 2022-04-30 04418891 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 04418891 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-04-30 04418891 c:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 04418891












CLM FIREPROOFING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

 

CLM FIREPROOFING LIMITED

CONTENTS



Page
Balance sheet
 
1
Statement of changes in equity
 
2
Notes to the financial statements
 
3 - 14


 
REGISTERED NUMBER:04418891
CLM FIREPROOFING LIMITED

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
723,772
375,178

Current assets
  

Stocks
 5 
239,577
98,201

Debtors: amounts falling due within one year
 6 
5,261,128
4,254,041

Cash at bank and in hand
  
2,376,400
288,865

  
7,877,105
4,641,107

Creditors: amounts falling due within one year
 7 
(3,950,502)
(2,734,637)

Net current assets
  
 
 
3,926,603
 
 
1,906,470

Total assets less current liabilities
  
4,650,375
2,281,648

Creditors: amounts falling due after more than one year
 8 
(570,804)
(800,472)

Provisions for liabilities
  

Deferred tax
 11 
(43,950)
-

  
 
 
(43,950)
 
 
-

Net assets
  
4,035,621
1,481,176


Capital and reserves
  

Called up share capital 
 12 
4
4

Profit And Loss Account
  
4,035,617
1,481,172

Total equity
  
4,035,621
1,481,176


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


D J Miles
Director

Date: 7 November 2023

Page 1

 

CLM FIREPROOFING LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 May 2021
4
1,124,439
1,124,443


Comprehensive income for the year

Profit for the year
-
356,733
356,733
Total comprehensive income for the year
-
356,733
356,733



At 1 May 2022
4
1,481,172
1,481,176


Comprehensive income for the year

Profit for the year
-
2,554,445
2,554,445
Total comprehensive income for the year
-
2,554,445
2,554,445


At 30 April 2023
4
4,035,617
4,035,621


The notes on pages 3 to 14 form part of these financial statements.
Page 2

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

CLM Fireproofing Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is Block 2, Unit 4 Vestry Park Trading Estate, Sevenoaks, Kent, TN14 5EL. 
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements

Page 3

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Construction contracts
Income from long-term contracts is recognised as contract activity progresses calculated with reference to the stage of completion certified by external valuers. Profit is recognised on long-term contracts on the percentage of completion basis, if the final outcome can be estimated reliably, by including in the profit and loss account turnover and related costs as contract activity progresses. Losses and contingencies on long-term contracts are recognised in full when such losses can be foreseen.
Retention's
Retention's represent the difference between the cumulative income recognised on contracts and the cumulative stage payments invoiced. retention's are usually held for a period of twelve months following the practical completion of the contract. At the balance sheet date, the directors assess retention's recoverable for impairment. Where the retention is found not to be recoverable due to a dispute with the client, impairment is charged against revenue. Where non-recovery is as a result of the inability of a client to meet its obligations, the impairment is charged to administrative expenses.

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Leased assets: the company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 4

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Motor vehicles
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.12

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Page 6

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

  
2.13

Financial Instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 
Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets measured at cost and amortised cost 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. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does
Page 7

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 8

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
2
1



Employees
53
39

55
40

Page 9

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2022
278,893
426,981
18,178
128,681
852,733


Additions
72,615
326,463
22,162
106,307
527,547


Disposals
-
(97,749)
-
-
(97,749)



At 30 April 2023

351,508
655,695
40,340
234,988
1,282,531



Depreciation


At 1 May 2022
206,471
189,340
14,465
67,279
477,555


Charge for the year on owned assets
27,880
86,528
3,746
24,157
142,311


Disposals
-
(61,107)
-
-
(61,107)



At 30 April 2023

234,351
214,761
18,211
91,436
558,759



Net book value



At 30 April 2023
117,157
440,934
22,129
143,552
723,772



At 30 April 2022
72,422
237,641
3,713
61,402
375,178

The net book value of motor vehicles held under finance leases or hire purchase contracts, included above was £215,315 (2022: £213,066)

Page 10

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Stocks

2023
2022
£
£

Raw materials and consumables
239,577
98,201

239,577
98,201



6.


Debtors

2023
2022
£
£


Trade debtors
4,516,251
3,790,693

Amounts owed by group undertakings
253
-

Other debtors
495,903
295,429

Prepayments and accrued income
248,721
167,919

5,261,128
4,254,041



7.


Creditors: Amounts falling due within one year

2023
2022
£
£


Other loans
200,000
200,000

Trade creditors
1,096,465
929,872

Corporation tax
655,160
219,315

Other taxation and social security
791,783
743,102

Obligations under finance lease and hire purchase contracts
60,936
58,648

Other creditors
7,592
14,442

Accruals and deferred income
1,138,566
569,258

3,950,502
2,734,637



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
483,333
683,333

Net obligations under finance leases and hire purchase contracts
87,471
117,139

570,804
800,472


Page 11

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
200,000
200,000

Amounts falling due 1-2 years

Other loans
483,333
683,333



683,333
883,333


 Secured loans
Other loans comprise Coronovirus Business Interruption Loan Scheme (CBILS) loans from Natwest Bank. These loans are secured by a fixed and floating charge over the assets of the company, bear interest at rates ranging between 2.34% and 2.62% per annum over base rate, and are repayable in monthly installments of £16,666 (inclusive of interest) over 41 months. These loans expect to be fully repaid by September 2026.


10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
49,574
58,648

Between 1-5 years
87,471
117,139

137,045
175,787

The finance leases relate to the lease of motor vehicles over varying lease terms. The remaining lease terms vary between 6 to 48 months. At the end of the lease the company has the option to purchase the motor vehicle. The net book value of the motor vehicles under finance leases is disclosed in the tangible fixed asset note. 

11.


Deferred taxation




2023


£






Charged to profit or loss
(43,950)



At end of year
(43,950)

Page 12

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
 
11.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(83,574)
-

Pension surplus
4,868
-

Provisions
34,756
-

(43,950)
-


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4 (2022 - 4) Ordinary shares of £1.00 each
4
4

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.



13.


Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures"  from disclosing transactions with entities which are a wholly owned part of the group.


2023
2022
£
£

Amounts due by related parties at year end
134,630
140,750
Sales to related parties
68,846
25,500
Purchases from related parties
420,438
357,515

Amounts owed by related parties are unsecured, interest free and due for repayment within one year.


14.


Controlling party

The immediate parent undertaking is CLM Group Limited.
In the opinion of the directors, the ultimate controlling party is CL Miles
Page 13

 

CLM FIREPROOFING LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

15.


Auditor's information

The auditor's report on the financial statements for the year ended 30 April 2023 was unqualified.

The audit report was signed on 7 November 2023 by Russel Tenzer (senior statutory auditor) on behalf of Blick Rothenberg Audit LLP.

 
Page 14