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REGISTERED NUMBER: 09426169 (England and Wales)













Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Cladding Centre Limited

Cladding Centre Limited (Registered number: 09426169)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cladding Centre Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S Holdsworth
S Horner





REGISTERED OFFICE: 36 Cumberland Road
Middlesbrough
TS5 6HZ





REGISTERED NUMBER: 09426169 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Cladding Centre Limited (Registered number: 09426169)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 68 102
Tangible assets 5 102,657 86,215
102,725 86,317

CURRENT ASSETS
Debtors 6 986,481 818,079
Cash at bank 1,957,466 2,033,048
2,943,947 2,851,127
CREDITORS
Amounts falling due within one year 7 810,540 552,175
NET CURRENT ASSETS 2,133,407 2,298,952
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,236,132

2,385,269

PROVISIONS FOR LIABILITIES 21,600 15,900
NET ASSETS 2,214,532 2,369,369

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 2,214,530 2,369,367
SHAREHOLDERS' FUNDS 2,214,532 2,369,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Cladding Centre Limited (Registered number: 09426169)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2024 and were signed on its behalf by:





S Holdsworth - Director


Cladding Centre Limited (Registered number: 09426169)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Cladding Centre Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademark are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 7 years
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the income statement unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Cladding Centre Limited (Registered number: 09426169)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Leases
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 15,285 170 15,455
AMORTISATION
At 1 March 2023 15,285 68 15,353
Charge for year - 34 34
At 29 February 2024 15,285 102 15,387
NET BOOK VALUE
At 29 February 2024 - 68 68
At 28 February 2023 - 102 102

Cladding Centre Limited (Registered number: 09426169)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2023 49,860 10,819 15,762
Additions 2,193 - 2,755
At 29 February 2024 52,053 10,819 18,517
DEPRECIATION
At 1 March 2023 25,256 8,309 12,150
Charge for year 7,327 1,500 2,222
At 29 February 2024 32,583 9,809 14,372
NET BOOK VALUE
At 29 February 2024 19,470 1,010 4,145
At 28 February 2023 24,604 2,510 3,612

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 153,893 13,364 243,698
Additions 58,126 - 63,074
At 29 February 2024 212,019 13,364 306,772
DEPRECIATION
At 1 March 2023 100,328 11,440 157,483
Charge for year 34,306 1,277 46,632
At 29 February 2024 134,634 12,717 204,115
NET BOOK VALUE
At 29 February 2024 77,385 647 102,657
At 28 February 2023 53,565 1,924 86,215

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 77,206 75,419
Other debtors 909,275 742,660
986,481 818,079

Cladding Centre Limited (Registered number: 09426169)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 250,167 142,866
Taxation and social security 490,988 359,733
Other creditors 69,385 49,576
810,540 552,175

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

9. FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £38,870 (2023 - £51,950). This amount relates to an 83 month lease agreement for the rental of business premises. At 29 February 2024 the lease had a remaining life of 19 months.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
S Holdsworth
Balance outstanding at start of year 372,317 211,779
Amounts advanced 677,707 410,538
Amounts repaid (600,000 ) (250,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 450,024 372,317

S Horner
Balance outstanding at start of year 370,342 212,237
Amounts advanced 688,071 408,105
Amounts repaid (600,000 ) (250,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 458,413 370,342

The amounts advanced to the directors have no fixed terms of repayment. Interest was charged at 2.25% on the overdrawn balances.