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Registration number: 08963457

Celsius Installations & Services Limited

REPORT OF THE DIRECTORS and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Celsius Installations & Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Celsius Installations & Services Limited

Company Information

Director

Mr Kevin Jones

Registered office

Min Y Graig Garnfoel
Penygroes
Llanelli
Carmarthenshire
SA14 7PS
 

Accountants

Wynne & Co
Chartered Accountants
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF

 

Celsius Installations & Services Limited

(Registration number: 08963457)
Balance Sheet as at 30 April 2024

Note

30 April
2024
£

30 April
2023
£

Fixed assets

 

Tangible assets

5

33,204

13,378

Current assets

 

Stocks

6

1,380

7,133

Debtors

7

63,217

50,592

Cash at bank and in hand

 

114,192

122,162

 

178,789

179,887

Creditors: Amounts falling due within one year

8

(83,215)

(82,267)

Net current assets

 

95,574

97,620

Total assets less current liabilities

 

128,778

110,998

Creditors: Amounts falling due after more than one year

8

(11,739)

(21,489)

Provisions for liabilities

(6,309)

(2,542)

Net assets

 

110,730

86,967

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

110,630

86,867

Shareholders' funds

 

110,730

86,967

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Celsius Installations & Services Limited

(Registration number: 08963457)
Balance Sheet as at 30 April 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 July 2024
 

.........................................
Mr Kevin Jones
Director

 

Celsius Installations & Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Min Y Graig Garnfoel
Penygroes
Llanelli
Carmarthenshire
SA14 7PS

These financial statements were authorised for issue by the director on 16 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Celsius Installations & Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

20% reducing balance

Plant and Machinery

20% reducing balance

Computer Equipment

33% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Celsius Installations & Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Celsius Installations & Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Celsius Installations & Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 3).

 

Celsius Installations & Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

14,100

14,100

At 30 April 2024

14,100

14,100

Amortisation

At 1 May 2023

14,100

14,100

At 30 April 2024

14,100

14,100

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

4,157

29,791

5,441

39,389

Additions

232

21,990

919

23,141

At 30 April 2024

4,389

51,781

6,360

62,530

Depreciation

At 1 May 2023

3,157

18,619

4,235

26,011

Charge for the year

355

2,601

359

3,315

At 30 April 2024

3,512

21,220

4,594

29,326

Carrying amount

At 30 April 2024

877

30,561

1,766

33,204

At 30 April 2023

1,000

11,172

1,206

13,378

 

Celsius Installations & Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

6

Stocks

30 April
2024
£

30 April
2023
£

Work in progress

980

6,133

Other inventories

400

1,000

1,380

7,133

7

Debtors

Current

30 April
2024
£

30 April
2023
£

Trade debtors

40,147

38,845

Prepayments

2,232

1,026

Other debtors

20,838

10,721

 

63,217

50,592

 

Celsius Installations & Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

30 April
2024
£

30 April
2023
£

Due within one year

 

Bank loans and overdrafts

10

9,786

12,909

Trade creditors

 

15,680

14,296

Taxation and social security

 

-

4,425

Accruals and deferred income

 

1,510

1,430

Other creditors

 

56,239

49,207

 

83,215

82,267

Creditors: amounts falling due after more than one year

Note

30 April
2024
£

30 April
2023
£

Due after one year

 

Loans and borrowings

10

11,739

21,489

9

Share capital

Allotted, called up and fully paid shares

 

30 April
2024

30 April
2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         
 

Celsius Installations & Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

10

Loans and borrowings

30 April
2024
£

30 April
2023
£

Non-current loans and borrowings

Bank borrowings

11,739

21,489

30 April
2024
£

30 April
2023
£

Current loans and borrowings

Bank borrowings

9,786

10,234

Hire purchase contracts

-

2,675

9,786

12,909

11

Dividends

Interim dividends paid

   

30 April
2024
£

 

30 April
2023
£

Interim dividend of £377.00 (2023 - £380.00) per each Ordinary

 

37,700

 

38,000

         
 

Celsius Installations & Services Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2024

12

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

11,908

Contributions paid to money purchase schemes

20,000

30,000

32,570

41,908