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Company registration number: 01379916







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024


CLAYTON THERMAL PRODUCTS LIMITED






































img653f.png                        

 


CLAYTON THERMAL PRODUCTS LIMITED
 


 
COMPANY INFORMATION


Directors
D V Dijck BvBA 
J S Clayton 
G A Adgey 




Company secretary
J S Clayton



Registered number
01379916



Registered office
C/O Company Secretarial Department
280 Bishopsgate

London

EC2M 4AG




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT




Corporate secretary
Abogado Nominees Limited
C/O Company Secretarial Department

280 Bishopsgate

London

EC2M 4AG





 


CLAYTON THERMAL PRODUCTS LIMITED
REGISTERED NUMBER:01379916



STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,539
6,115

  
4,539
6,115

Current assets
  

Stocks
  
294,955
280,830

Debtors: amounts falling due within one year
 5 
496,520
548,601

Cash at bank and in hand
  
1,974,871
1,893,903

  
2,766,346
2,723,334

Creditors: amounts falling due within one year
 6 
(444,754)
(621,032)

Net current assets
  
 
 
2,321,592
 
 
2,102,302

Total assets less current liabilities
  
2,326,131
2,108,417

  

Net assets
  
2,326,131
2,108,417


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
2,316,131
2,098,417

  
2,326,131
2,108,417


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D V Dijck BvBA
Director

Date: 20 January 2025

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 


CLAYTON THERMAL PRODUCTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Clayton Thermal Products Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is 100 New Bridge Street, London, EC4V 6JA. The principal place of business is Suite 14 Howard Court, Manor Park, Runcorn, Cheshire, WA7 1SJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company accounting policies.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover relating to design and supply of generators and boilers is recognised based on the stage of completion of the contract. Turnover which arises from the provision of installation services, support and maintenance is recognised during the period in which the work or service is delivered. 
Revenue is recognised when the risks and reward have been transferred to the customer.

  
2.3

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

 


CLAYTON THERMAL PRODUCTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10% to 20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.9

Stocks

Stocks are stated at lower of cost and net realisable value, being the estimated selling price less costs to sell. Cost is based on the cost of purchase on a weighted average basis. 
At each reporting date, stocks are assessed for impairment. If stock is 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.
Page 3

 


CLAYTON THERMAL PRODUCTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtor and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, and impairment loss is recognised in the Statement of Income and Retained Earnings.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
10
9


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 October 2023
51,475



At 30 September 2024

51,475



Depreciation


At 1 October 2023
45,360


Charge for the year on owned assets
1,576



At 30 September 2024

46,936



Net book value



At 30 September 2024
4,539



At 30 September 2023
6,115

Page 4

 


CLAYTON THERMAL PRODUCTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
334,010
351,783

Amounts owed by group undertakings
137,122
176,689

Prepayments and accrued income
25,388
20,129

496,520
548,601



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
61,085
130,380

Amounts owed to group undertakings
11,775
50,896

Corporation tax
73,772
137,798

Other taxation and social security
90,763
119,149

Accruals and deferred income
207,359
182,809

444,754
621,032



7.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
60,821
41,697

Later than 1 year and not later than 5 years
70,683
62,469

131,504
104,166


8.


Ultimate parent company

The parent of the smallest group for which consolidated financial statements are drawn up is Clayton Industries Inc., a company incorporated in the United States of America. The registered office of Clayton Industries Inc. is 17477 Hurley Street, City of Industry, CA 91744.

Page 5

 


CLAYTON THERMAL PRODUCTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


Auditor's information

The auditor's report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 20 January 2025 by Sarah Hallam FCCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 6