Company Registration No. 12778568 (England and Wales)
CO2 Controls Ltd
Unaudited accounts
for the year ended 31 July 2024
CO2 Controls Ltd
Unaudited accounts
Contents
CO2 Controls Ltd
Company Information
for the year ended 31 July 2024
Directors
Craig Johnston
Kerry Johnston
Jack Neil
Ruth Neil
Company Number
12778568 (England and Wales)
Registered Office
107-111 Fleet Street
London
EC4A 2AB
Accountants
JP Accountancy Services (Sussex) Limited
5 Fairfield Way
Ashington
Pulborough
West Sussex
RH20 3LA
CO2 Controls Ltd
Statement of financial position
as at 31 July 2024
Tangible assets
63,964
92,550
Cash at bank and in hand
70,273
266,813
Creditors: amounts falling due within one year
(334,015)
(316,860)
Net current assets
410,718
288,835
Total assets less current liabilities
474,682
381,385
Creditors: amounts falling due after more than one year
(74,850)
(90,438)
Provisions for liabilities
Deferred tax
(10,473)
(12,470)
Net assets
389,359
278,477
Called up share capital
4
4
Profit and loss account
389,355
278,473
Shareholders' funds
389,359
278,477
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by
Kerry Johnston
Director
Company Registration No. 12778568
CO2 Controls Ltd
Notes to the Accounts
for the year ended 31 July 2024
CO2 Controls Ltd is a private company, limited by shares, registered in England and Wales, registration number 12778568. The registered office is 107-111 Fleet Street, London, EC4A 2AB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight line
Motor vehicles
Straight line over 3 years
Computer equipment
Straight line over 3 years
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
CO2 Controls Ltd
Notes to the Accounts
for the year ended 31 July 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
4,118
98,443
5,747
108,308
Additions
1,014
-
7,085
8,099
At 31 July 2024
5,132
98,443
12,832
116,407
At 1 August 2023
1,904
10,938
2,916
15,758
Charge for the year
1,283
32,814
2,588
36,685
At 31 July 2024
3,187
43,752
5,504
52,443
At 31 July 2024
1,945
54,691
7,328
63,964
At 31 July 2023
2,214
87,505
2,831
92,550
Amounts falling due within one year
Trade debtors
447,703
245,000
Accrued income and prepayments
174,948
59,510
Other debtors
10,029
7,046
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
15,588
15,588
Trade creditors
180,762
143,176
Taxes and social security
117,801
151,882
Loans from directors
445
546
CO2 Controls Ltd
Notes to the Accounts
for the year ended 31 July 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
74,850
90,438
8
Deferred taxation
2024
2023
Accelerated capital allowances
10,473
12,470
Provision at start of year
12,470
12,319
(Credited)/charged to the profit and loss account
(1,997)
151
Provision at end of year
10,473
12,470
9
Operating lease commitments
2024
2023
At 31 July 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
29,970
25,994
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Funds advanced to director
2,046
49
2,046
49
11
Transactions with related parties
During the year, the company loaned funds of £nil (2023: £5,000) to CO2 Controls Service Ltd, a company controlled by directors, Jack Neil and Craig Johnston. This loan is interest free and repayable on demand. At the balance sheet date, the amount due to the company was £5,000 (2023: £5,000).
During the year, the company accrued fees of £68,508 (2023: £nil) to CO2 Controls Service Ltd for labour costs. At the balance sheet date, the company owed £nil (2023: £nil) to the related company.
12
Average number of employees
During the year the average number of employees was 10 (2023: 8).