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Company registration number: 11175305
Climate Acoustic Solutions Ltd
Unaudited filleted financial statements
31 August 2023
Climate Acoustic Solutions Ltd
Contents
Statement of financial position
Notes to the financial statements
Climate Acoustic Solutions Ltd
Statement of financial position
31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 3,365 4,050
_______ _______
3,365 4,050
Current assets
Debtors 6 778 323
Cash at bank and in hand 14,510 15,733
_______ _______
15,288 16,056
Creditors: amounts falling due
within one year 7 ( 14,787) ( 11,489)
_______ _______
Net current assets 501 4,567
_______ _______
Total assets less current liabilities 3,866 8,617
Provisions for liabilities ( 639) ( 856)
_______ _______
Net assets 3,227 7,761
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 3,226 7,760
_______ _______
Shareholder funds 3,227 7,761
_______ _______
For the year ending 31 August 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 April 2024 , and are signed on behalf of the board by:
Alex Hancock
Director
Company registration number: 11175305
Climate Acoustic Solutions Ltd
Notes to the financial statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Croxtons Mill, Blasford Hill, Little Waltham, Chelmsford, Essex CM3 3PJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 12,000 12,160
Social security costs 421 458
_______ _______
12,421 12,618
_______ _______
5. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 September 2022 10,285 10,285
Additions 3,997 3,997
_______ _______
At 31 August 2023 14,282 14,282
_______ _______
Depreciation
At 1 September 2022 6,235 6,235
Charge for the year 4,682 4,682
_______ _______
At 31 August 2023 10,917 10,917
_______ _______
Carrying amount
At 31 August 2023 3,365 3,365
_______ _______
At 31 August 2022 4,050 4,050
_______ _______
6. Debtors
2023 2022
£ £
Other debtors 778 323
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 3,149 -
Trade creditors 1,411 925
Corporation tax 559 1,517
Social security and other taxes 1,641 380
Other creditors 8,027 8,667
_______ _______
14,787 11,489
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Alex Hancock ( 6,750) ( 312) ( 7,062)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Alex Hancock ( 6,439) ( 311) ( 6,750)
_______ _______ _______