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Registrar

Registration number: 04584560

Clean Air Systems & Installations Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Clean Air Systems & Installations Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

Clean Air Systems & Installations Limited

Company Information

Directors

R J Kett

Company secretary

R J Kett

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Lloyds Bank Plc
1 Legg Street
Chelmsford
Essex
CM1 1JS

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Clean Air Systems & Installations Limited

(Registration number: 04584560)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

54,446

49,084

Current assets

 

Stocks

5

28,300

29,950

Debtors

6

320,935

352,274

Cash at bank and in hand

 

50,453

72,511

 

399,688

454,735

Creditors: Amounts falling due within one year

7

(315,610)

(449,005)

Net current assets

 

84,078

5,730

Total assets less current liabilities

 

138,524

54,814

Creditors: Amounts falling due after more than one year

7

(54,360)

(25,000)

Provisions for liabilities

(13,611)

(9,327)

Net assets

 

70,553

20,487

Capital and reserves

 

Called up share capital

8

10

10

Revaluation reserve

26,692

26,566

Retained earnings

43,851

(6,089)

Shareholders' funds

 

70,553

20,487

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 January 2024
 

R J Kett
Company secretary and director

 

Clean Air Systems & Installations Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The company was formerly known as .

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, United Kingdom.

The principal place of business is: 16-18 Springwood Drive, Braintree, Essex, CM7 2YN.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for provision of installation and extraction of bespoke ventilation services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Other grants

Grants are recognised when the company has an entitlement to the funds and conditions linked to the grants have been met.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost or revaluation, less any subsequent accumulated depreciation.

 

Clean Air Systems & Installations Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% Reducing balance

Office equipment

25% Straight line method

Fixtures and fittings

25% Reducing balance

Plant and machinery

25% Reducing balance & 10% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Included within Trade debtors are amounts recoverable on contracts and represent the proportion of work undertaken at the year end.

Stocks

Stocks held are raw materials and are stated at the lower of cost and estimated selling price. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Clean Air Systems & Installations Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2022 - 14).

4

Tangible assets

Fixtures and fittings
 £

Motor vehicles
 £

Office equipment
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 December 2022

5,237

31,458

11,407

54,241

102,343

Additions

108

-

-

16,663

16,771

Disposals

-

(15,613)

-

-

(15,613)

At 30 November 2023

5,345

15,845

11,407

70,904

103,501

Depreciation

At 1 December 2022

4,641

23,157

8,813

16,648

53,259

Charge for the year

171

1,908

821

6,123

9,023

Eliminated on disposal

-

(13,227)

-

-

(13,227)

At 30 November 2023

4,812

11,838

9,634

22,771

49,055

Carrying amount

At 30 November 2023

533

4,007

1,773

48,133

54,446

At 30 November 2022

596

8,301

2,594

37,593

49,084

Revaluation

The fair value of the company's plant and machinery was revalued on 30 November 2021. An independent valuer was not involved as the directors carried out an internal valuation.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £4,479 (2022 - £4,703).

5

Stocks

2023
£

2022
£

Raw materials

28,300

29,950

 

Clean Air Systems & Installations Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

6

Debtors

Note

2023
£

2022
£

Trade debtors

 

174,067

197,420

Directors loan

10

26,107

26,533

Prepayments

 

3,255

-

Amounts recoverable on long term contracts

 

22,500

59,500

Factored debtor

 

51,226

24,537

Other debtors

 

43,780

44,284

 

320,935

352,274

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

18,797

10,000

Trade creditors

 

108,139

181,785

Taxation and social security

 

65,816

137,350

Accruals and deferred income

 

24,416

36,742

Corporation tax

 

12,341

20,106

Other payables

 

3,194

6,430

Factor creditor

 

82,907

56,592

 

315,610

449,005


Creditors include loans which are secured of £8,797 (2022 - £Nil).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

54,360

25,000

Creditors include loans which are secured of £39,360 (2022 - £Nil).

 

Clean Air Systems & Installations Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A Shares of £1 each

6

6

6

6

Ordinary B Shares of £1 each

3

3

3

3

Ordinary C Shares of £1 each

1

1

1

1

 

10

10

10

10

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £64,750 (2022 - £102,000).

10

Related party transactions

Transactions with the director

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Directors loan transactions

26,533

4,000

(4,426)

26,107

         
       

 

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Directors loan transactions

26,419

114

-

26,533

         
       

 

Clean Air Systems & Installations Limited

Notes to the Financial Statements for the Year Ended 30 November 2023

 

11

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Other borrowings

8,797

-

18,797

10,000

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

15,000

25,000

Other borrowings

39,360

-

54,360

25,000