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Company registration number: 03772225
CLP Air Group Limited
Unaudited filleted financial statements
31 December 2023
CLP Air Group Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
CLP Air Group Limited
Directors and other information
Directors
Mr C Penny
Mrs A Penny
Company number 03772225
Registered office Unit B & C
Kirkgate Commercial Centre
Chantry Bridge
Wakefield
WF1 5DL
Accountants Streets Andrew Wright
10 Cliff Parade
Wakefield
West Yorkshire
WF1 2TA
CLP Air Group Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 354,540 187,883
_______ _______
354,540 187,883
Current assets
Stocks 356,776 291,500
Debtors 6 123,058 420,216
Cash at bank and in hand 742,474 284,527
_______ _______
1,222,308 996,243
Creditors: amounts falling due
within one year 7 ( 256,978) ( 294,383)
_______ _______
Net current assets 965,330 701,860
_______ _______
Total assets less current liabilities 1,319,870 889,743
Provisions for liabilities ( 55,252) ( 22,791)
_______ _______
Net assets 1,264,618 866,952
_______ _______
Capital and reserves
Called up share capital 200 200
Profit and loss account 1,264,418 866,752
_______ _______
Shareholders funds 1,264,618 866,952
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge 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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 July 2024 , and are signed on behalf of the board by:
Mr C Penny
Director
Company registration number: 03772225
CLP Air Group Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit B & C, Kirkgate Commercial Centre, Chantry Bridge, Wakefield, WF1 5DL.
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.
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.
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 - 25 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Office equipment - 25 % reducing balance
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 12 ).
5. Tangible assets
Long leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Office Equipment Total
£ £ £ £ £ £
Cost
At 1 January 2023 24,064 184,887 32,810 56,725 53,357 351,843
Additions - 189,775 33,296 - 7,314 230,385
_______ _______ _______ _______ _______ _______
At 31 December 2023 24,064 374,662 66,106 56,725 60,671 582,228
_______ _______ _______ _______ _______ _______
Depreciation
At 1 January 2023 - 95,577 13,388 24,185 30,810 163,960
Charge for the year - 40,220 7,908 8,135 7,465 63,728
_______ _______ _______ _______ _______ _______
At 31 December 2023 - 135,797 21,296 32,320 38,275 227,688
_______ _______ _______ _______ _______ _______
Carrying amount
At 31 December 2023 24,064 238,865 44,810 24,405 22,396 354,540
_______ _______ _______ _______ _______ _______
At 31 December 2022 24,064 89,310 19,422 32,540 22,547 187,883
_______ _______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 51,698 365,932
Other debtors 71,360 54,284
_______ _______
123,058 420,216
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 24,513 153,508
Corporation tax 127,028 61,195
Social security and other taxes 90,433 65,808
Other creditors 15,004 13,872
_______ _______
256,978 294,383
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr C Penny ( 2) ( 927) - ( 929)
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr C Penny ( 18) - 16 ( 2)
_______ _______ _______ _______