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REGISTERED NUMBER: 07079790 (England and Wales)















Financial Statements

for the Year Ended 31st December 2023

for

CLIMATEC HOME
IMPROVEMENTS LTD

CLIMATEC HOME
IMPROVEMENTS LTD (REGISTERED NUMBER: 07079790)

Contents of the Financial Statements
for the year ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLIMATEC HOME
IMPROVEMENTS LTD

Company Information
for the year ended 31st December 2023







DIRECTORS: Mr J P Bates
Mr S P Muskett





REGISTERED OFFICE: Monometer House
Rectory Grove
Leigh-on-Sea
Essex
SS9 2HL





REGISTERED NUMBER: 07079790 (England and Wales)





AUDITORS: Barrons Limited
Chartered Accountants
& Statutory Auditors
Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN

CLIMATEC HOME
IMPROVEMENTS LTD (REGISTERED NUMBER: 07079790)

Balance Sheet
31st December 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 582,970 783,338
Cash at bank 4,550 36,979
587,520 820,317
CREDITORS
Amounts falling due within one year 5 389,963 661,054
NET CURRENT ASSETS 197,557 159,263
TOTAL ASSETS LESS CURRENT
LIABILITIES

197,557

159,263

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 197,457 159,163
SHAREHOLDERS' FUNDS 197,557 159,263

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6th August 2024 and were signed on its behalf by:





Mr S P Muskett - Director


CLIMATEC HOME
IMPROVEMENTS LTD (REGISTERED NUMBER: 07079790)

Notes to the Financial Statements
for the year ended 31st December 2023


1. STATUTORY INFORMATION

Climatec Home Improvements Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before the revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

CLIMATEC HOME
IMPROVEMENTS LTD (REGISTERED NUMBER: 07079790)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 122,061 181,638
Amounts owed by group undertakings 440,955 592,548
Other debtors 19,954 9,152
582,970 783,338

CLIMATEC HOME
IMPROVEMENTS LTD (REGISTERED NUMBER: 07079790)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 304,985 535,017
Taxation and social security 43,704 39,265
Other creditors 41,274 86,772
389,963 661,054

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Radford FCCA (Senior Statutory Auditor)
for and on behalf of Barrons Limited

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. ULTIMATE PARENT COMPANY

Climatec Group Holdings Limited is the ultimate parent company for the current and preceding year due to its shareholding in the company. Climatec Group Holdings Limited prepares consolidated financial statements and these may be obtained from their registered office at Monometer House, Rectory Grove, Leigh on Sea, Essex, SS9 2HL.