Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr D M Pridham 22/03/2006 Mr S D Pridham 23/07/2018 13 October 2023 The principal activities of the company continued to be the manufacture and assembly of louvres for use with air cooled heat exchangers and cooling towers and the supply of computer equipment. 05752602 2023-03-31 05752602 bus:Director1 2023-03-31 05752602 bus:Director2 2023-03-31 05752602 2022-03-31 05752602 core:CurrentFinancialInstruments 2023-03-31 05752602 core:CurrentFinancialInstruments 2022-03-31 05752602 core:ShareCapital 2023-03-31 05752602 core:ShareCapital 2022-03-31 05752602 core:RetainedEarningsAccumulatedLosses 2023-03-31 05752602 core:RetainedEarningsAccumulatedLosses 2022-03-31 05752602 core:Goodwill 2022-03-31 05752602 core:Goodwill 2023-03-31 05752602 core:PlantMachinery 2022-03-31 05752602 core:Vehicles 2022-03-31 05752602 core:OfficeEquipment 2022-03-31 05752602 core:PlantMachinery 2023-03-31 05752602 core:Vehicles 2023-03-31 05752602 core:OfficeEquipment 2023-03-31 05752602 2022-04-01 2023-03-31 05752602 bus:FullAccounts 2022-04-01 2023-03-31 05752602 bus:SmallEntities 2022-04-01 2023-03-31 05752602 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05752602 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05752602 bus:Director1 2022-04-01 2023-03-31 05752602 bus:Director2 2022-04-01 2023-03-31 05752602 core:Goodwill core:TopRangeValue 2022-04-01 2023-03-31 05752602 core:PlantMachinery core:TopRangeValue 2022-04-01 2023-03-31 05752602 core:Vehicles 2022-04-01 2023-03-31 05752602 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 05752602 2021-04-01 2022-03-31 05752602 core:PlantMachinery 2022-04-01 2023-03-31 05752602 core:OfficeEquipment 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 05752602 (England and Wales)

CE-AIR UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

CE-AIR UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

CE-AIR UK LIMITED

BALANCE SHEET

As at 31 March 2023
CE-AIR UK LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 5 13,954 22,377
13,954 22,377
Current assets
Stocks 177,640 140,000
Debtors 6 38,116 80,618
Cash at bank and in hand 76,063 139,183
291,819 359,801
Creditors: amounts falling due within one year 7 ( 24,899) ( 48,767)
Net current assets 266,920 311,034
Total assets less current liabilities 280,874 333,411
Net assets 280,874 333,411
Capital and reserves
Called-up share capital 1 1
Profit and loss account 280,873 333,410
Total shareholder's funds 280,874 333,411

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

Directors' responsibilities:

The financial statements of CE-Air UK Limited (registered number: 05752602) were approved and authorised for issue by the Board of Directors on 13 October 2023. They were signed on its behalf by:

Mr D M Pridham
Director
CE-AIR UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
CE-AIR UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CE-Air UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Newton Moor Industrial Estate Lodge Street, Newton, Hyde, SK14 4LE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 6.66 years straight line
Vehicles 33 % reducing balance
Office equipment 6.66 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, which are described in note 1, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the financial year in which the estimate is revised if the revision affects only that financial year, or in the financial year of the revision and future financial years if the revision affects both current and future financial years.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

4. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2022 66,000 66,000
At 31 March 2023 66,000 66,000
Accumulated amortisation
At 01 April 2022 66,000 66,000
At 31 March 2023 66,000 66,000
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

5. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 April 2022 41,939 46,261 19,338 107,538
Additions 0 0 305 305
At 31 March 2023 41,939 46,261 19,643 107,843
Accumulated depreciation
At 01 April 2022 31,330 41,450 12,381 85,161
Charge for the financial year 4,425 1,587 2,716 8,728
At 31 March 2023 35,755 43,037 15,097 93,889
Net book value
At 31 March 2023 6,184 3,224 4,546 13,954
At 31 March 2022 10,609 4,811 6,957 22,377

6. Debtors

2023 2022
£ £
Trade debtors 29,546 31,239
Other debtors 8,570 49,379
38,116 80,618

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 0 7,326
Trade creditors 22,331 37,951
Taxation and social security 475 1,435
Other creditors 2,093 2,055
24,899 48,767