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Registered Number: 06869211
England and Wales

 

 

 

CLIMATE INSULATION LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 68,442    84,386 
68,442    84,386 
Current assets      
Stocks 119,390    30,950 
Debtors 53,996    261,264 
Cash at bank and in hand (21,172)   237,627 
152,214    529,841 
Creditors: amount falling due within one year (105,789)   (47,915)
Net current assets 46,425    481,926 
 
Total assets less current liabilities 114,867    566,312 
Creditors: amount falling due after more than one year (31,619)   (41,315)
Net assets 83,248    524,997 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 83,148    524,897 
Shareholder's funds 83,248    524,997 
 


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

Director's 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 director acknowledges 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 and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 27 October 2023 and were signed by:


-------------------------------
Muhammad Shafiq Chaudhry
Director
1
General Information
CLIMATE INSULATION LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06869211, registration address Sovereign House, Stockport Road, Cheadle, SK8 2EA.

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.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
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:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 15% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
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 11 (2022 : 10).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 April 2022 43,073    162,382    8,928    214,383 
Additions      
Disposals      
At 31 March 2023 43,073    162,382    8,928    214,383 
Depreciation
At 01 April 2022 28,758    99,900    1,339    129,997 
Charge for year 2,147    12,658    1,139    15,944 
On disposals      
At 31 March 2023 30,905    112,558    2,478    145,941 
Net book values
Closing balance as at 31 March 2023 12,168    49,824    6,450    68,442 
Opening balance as at 01 April 2022 14,315    62,482    7,589    84,386 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

2