2023-01-012023-12-302023-12-30false09899336CLIMARITE 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CLIMARITE LTD

Registered Number
09899336
(England and Wales)

Unaudited Financial Statements for the Period ended
30 December 2023

CLIMARITE LTD
Company Information
for the period from 1 January 2023 to 30 December 2023

Directors

CONNOLLY, Padraig
SMITH, Brett Adair

Registered Address

6 Brooklands Grove
Lathom
Ormskirk
L40 5UT

Registered Number

09899336 (England and Wales)
CLIMARITE LTD
Balance Sheet as at
30 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets456,77578,451
56,77578,451
Current assets
Debtors152,802122,028
Cash at bank and on hand91,11413,262
243,916135,290
Creditors amounts falling due within one year5(137,664)(97,511)
Net current assets (liabilities)106,25237,779
Total assets less current liabilities163,027116,230
Creditors amounts falling due after one year6(44,750)(88,840)
Provisions for liabilities8(4,831)(8,735)
Net assets113,44618,655
Capital and reserves
Called up share capital11
Profit and loss account113,44518,654
Shareholders' funds113,44618,655
The financial statements were approved and authorised for issue by the Board of Directors on 12 August 2024, and are signed on its behalf by:
CONNOLLY, Padraig
Director
Registered Company No. 09899336
CLIMARITE LTD
Notes to the Financial Statements
for the period ended 30 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes and other sales taxes.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Taxation for the year comprises current and deferred tax. Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Reducing balance (%)
Plant and machinery43
Vehicles1,723
Office Equipment41
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year86
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 January 233,516129,7043,517136,737
At 30 December 233,516129,7043,517136,737
Depreciation and impairment
At 01 January 231,38554,6442,25758,286
Charge for year50820,67948921,676
At 30 December 231,89375,3232,74679,962
Net book value
At 30 December 231,62354,38177156,775
At 31 December 222,13175,0601,26078,451
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables40,17135,221
Bank borrowings and overdrafts10,90941,442
Taxation and social security64,64920,846
Finance lease and HP contracts21,933-
Accrued liabilities and deferred income22
Total137,66497,511
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts15,45426,363
Other creditors29,29662,477
Total44,75088,840
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts29,29662,477
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)4,8318,735
Total4,8318,735