Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 13 September 2024 1 January 2023 31 December 2023 31 December 2023 13763920 R C Young M Sharman Geoclima SRL false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13763920 2022-12-31 13763920 2023-12-31 13763920 2023-01-01 2023-12-31 13763920 frs-core:CurrentFinancialInstruments 2023-12-31 13763920 frs-core:Non-currentFinancialInstruments 2023-12-31 13763920 frs-core:ShareCapital 2023-12-31 13763920 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 13763920 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13763920 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 13763920 frs-bus:SmallEntities 2023-01-01 2023-12-31 13763920 frs-bus:Audited 2023-01-01 2023-12-31 13763920 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13763920 1 2023-01-01 2023-12-31 13763920 frs-bus:Director1 2023-01-01 2023-12-31 13763920 frs-bus:Director2 2023-01-01 2023-12-31 13763920 frs-countries:EnglandWales 2023-01-01 2023-12-31 13763920 2021-12-31 13763920 2022-12-31 13763920 2022-01-01 2022-12-31 13763920 frs-core:CurrentFinancialInstruments 2022-12-31 13763920 frs-core:Non-currentFinancialInstruments 2022-12-31 13763920 frs-core:ShareCapital 2022-12-31 13763920 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 13763920
Geoclima HVAC UK Ltd
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13763920
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 98,615 -
Debtors 5 301,596 279,870
Cash at bank and in hand 306,237 61,791
706,448 341,661
Creditors: Amounts Falling Due Within One Year 6 (452,243 ) (306,383 )
NET CURRENT ASSETS (LIABILITIES) 254,205 35,278
TOTAL ASSETS LESS CURRENT LIABILITIES 254,205 35,278
Creditors: Amounts Falling Due After More Than One Year 7 (84,230 ) (44,230 )
NET ASSETS/(LIABILITIES) 169,975 (8,952 )
CAPITAL AND RESERVES
Called up share capital 8 200 200
Profit and Loss Account 169,775 (9,152 )
SHAREHOLDERS' FUNDS 169,975 (8,952)
Page 1
Page 2
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
R C Young
Director
13 September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Geoclima HVAC UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13763920
The registered office is Suite G04, 1 Quality Court, Chancery Lane, London, WC2A 1HR.
The principal place of business is The Barn Little Common, North Bradley, Trowbridge, BA14 0TX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are presented in sterling and rounded to the nearest £1.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Page 3
Page 4
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Debtors
Short term debtors are measured at transaction price which is usually the invoice price, less any impairment losses for bad and doubtful debts.
2.8. Creditors
Short term creditors are measured at transaction price which is usually the invoice price.
2.9. Name of parent group
These financial statements are consolidated in the financial statements of Geoclima SRL.
The financial statements of Geoclime SRL may be obtained from Via Dell’industria, 12 – 34077 
Ronchi dei Legionari (GO) Italy.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 1)
2 1
4. Stocks
2023 2022
£ £
Stock 98,615 -
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 301,596 279,870
301,596 279,870
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 236 -
Taxation and social security 172,650 67,525
Accruals and deferred income 11,713 58,571
Amounts owed to related parties 267,644 180,287
452,243 306,383
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 897 897
Amounts owed to related parties 83,333 43,333
84,230 44,230
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
9. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
10. Controlling Party
The company's controlling party is Geoclima SRL , incorporated in Italy, by virtue of its ownership of 75% of the issued share capital in the company.
11. Subsequent events
It has been proposed that the Geoclima Group are to be acquired by Munters Group in 2024. The strategic acquisition is expected to significantly expand Geoclima's presence in the broader data center market. It is anticipated that the official completion will take place on 30 September 2024, after restructuring of the legal entities of the Geoclima group.
Page 5
Page 6
12. Audit Information
The auditors report on the account of Geoclima HVAC UK Ltd for the year ended 31 December 2023 was unqualified
The auditor's report was signed by David Alan Oakensen FCA (Senior Statutory Auditor) for and on behalf of William Price & Co Limited , Statutory Auditor
William Price & Co Limited
Westbury Court
Church Road
Westbury-On-Trym
Bristol
BS9 3EF
Page 6