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REGISTERED NUMBER: 01483437 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Central Cladding Systems Limited

Central Cladding Systems Limited (Registered number: 01483437)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Central Cladding Systems Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr R T Dunn
Mr R J Gowell
Mr M J Phillips





REGISTERED OFFICE: Unit C4 Staverton Technology Park
Gloucester Road
Staverton
Gloucester
Gloucestershire
GL51 6TQ





REGISTERED NUMBER: 01483437 (England and Wales)





ACCOUNTANTS: Stanbridge Accountancy Services Limited
9 Wheatstone Court
Waterwells Business Park
Davy Way
Gloucester
Gloucestershire
GL2 2AQ

Central Cladding Systems Limited (Registered number: 01483437)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,459 40,849

CURRENT ASSETS
Stocks 135,897 83,307
Debtors 5 2,006,477 1,947,870
Cash at bank and in hand 1,530,055 2,510,656
3,672,429 4,541,833
CREDITORS
Amounts falling due within one year 6 3,027,160 2,775,262
NET CURRENT ASSETS 645,269 1,766,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

673,728

1,807,420

CAPITAL AND RESERVES
Called up share capital 7 5,005 5,005
Retained earnings 668,723 1,802,415
SHAREHOLDERS' FUNDS 673,728 1,807,420

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Central Cladding Systems Limited (Registered number: 01483437)

Balance Sheet - continued
31 March 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 19 November 2024 and were signed on its behalf by:




Mr R T Dunn - Director



Mr M J Phillips - Director


Central Cladding Systems Limited (Registered number: 01483437)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Central Cladding Systems 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Central Cladding Systems Limited (Registered number: 01483437)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 32 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 29,375 62,178 137,391 228,944
Additions 855 3,647 - 4,502
Disposals - - (44,595 ) (44,595 )
At 31 March 2024 30,230 65,825 92,796 188,851
DEPRECIATION
At 1 April 2023 22,487 47,000 118,608 188,095
Charge for year 1,549 4,494 6,849 12,892
Eliminated on disposal - - (40,595 ) (40,595 )
At 31 March 2024 24,036 51,494 84,862 160,392
NET BOOK VALUE
At 31 March 2024 6,194 14,331 7,934 28,459
At 31 March 2023 6,888 15,178 18,783 40,849

Central Cladding Systems Limited (Registered number: 01483437)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,786,758 1,849,017
VAT 198,434 75,676
Prepayments 21,285 23,177
2,006,477 1,947,870

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 2,300,239 2,028,327
Tax 404,962 247,141
Social security and other taxes 62,155 64,636
Other creditors 11,048 9,493
Directors' current accounts 142,383 305,732
Accrued expenses 106,373 119,933
3,027,160 2,775,262

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
5,000 Ordinary £1 5,000 5,000
1 B Ordinary £1 1 1
4 C Ordinary, D Ordinary, E
Ordinary and F Ordinary £4 4 4
5,005 5,005

On 6 December 2023 the shares of Central Cladding Systems Limited were sold, as part of a management buyout, to the new owners Central Cladding Holdings Limited.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed its directors £142,383 (2023 - £305,731.95)

9. RELATED PARTY DISCLOSURES

As part of the management buyout, dividends have been drawn from Central Cladding Systems Limited so that Central Cladding Holdings Limited could settle the outstanding amounts due to the original shareholders. This has had an effect on the balance sheet in this set of accounts and is the main reason for the reduction in retained earnings.

Central Cladding Systems Limited (Registered number: 01483437)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. POST BALANCE SHEET EVENTS

On 20 September 2024, a major customer of Central Cladding Systems Limited, ISG Group entered administration. Due to the material uncertainty surrounding the payments of outstanding invoices and outstanding retentions on previous and current jobs at the balance sheet date, the directors have decided to make a provision for doubtful debts of £500,156 in this set of accounts.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Central Cladding Holdings Limited.

The ultimate controlling party is Central Cladding Holdings Limited.