Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30truetrue2023-05-01falseNo description of principal activity54The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07246357 2023-05-01 2024-04-30 07246357 2022-05-01 2023-04-30 07246357 2024-04-30 07246357 2023-04-30 07246357 2022-05-01 07246357 c:Director1 2023-05-01 2024-04-30 07246357 d:PlantMachinery 2023-05-01 2024-04-30 07246357 d:PlantMachinery 2024-04-30 07246357 d:PlantMachinery 2023-04-30 07246357 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07246357 d:MotorVehicles 2023-05-01 2024-04-30 07246357 d:MotorVehicles 2024-04-30 07246357 d:MotorVehicles 2023-04-30 07246357 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07246357 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07246357 d:CurrentFinancialInstruments 2024-04-30 07246357 d:CurrentFinancialInstruments 2023-04-30 07246357 d:Non-currentFinancialInstruments 2024-04-30 07246357 d:Non-currentFinancialInstruments 2023-04-30 07246357 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 07246357 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07246357 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 07246357 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 07246357 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 07246357 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 07246357 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 07246357 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 07246357 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 07246357 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 07246357 d:ShareCapital 2024-04-30 07246357 d:ShareCapital 2023-04-30 07246357 d:RetainedEarningsAccumulatedLosses 2024-04-30 07246357 d:RetainedEarningsAccumulatedLosses 2023-04-30 07246357 c:FRS102 2023-05-01 2024-04-30 07246357 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07246357 c:FullAccounts 2023-05-01 2024-04-30 07246357 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07246357 2 2023-05-01 2024-04-30 07246357 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 07246357 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 07246357 d:RetirementBenefitObligationsDeferredTax 2024-04-30 07246357 d:RetirementBenefitObligationsDeferredTax 2023-04-30 07246357 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 07246357










CRYOGENIC INDUSTRIAL GASES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
CRYOGENIC INDUSTRIAL GASES LIMITED
REGISTERED NUMBER: 07246357

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,973
46,344

  
17,973
46,344

Current assets
  

Stocks
  
7,248
7,852

Debtors: amounts falling due within one year
 5 
335,183
54,100

Cash at bank and in hand
  
22,840
127,745

  
365,271
189,697

Creditors: amounts falling due within one year
 6 
(153,042)
(63,858)

Net current assets
  
 
 
212,229
 
 
125,839

Total assets less current liabilities
  
230,202
172,183

Creditors: amounts falling due after more than one year
 7 
(78,888)
(20,833)

Provisions for liabilities
  

Deferred tax
 9 
(3,501)
(10,377)

  
 
 
(3,501)
 
 
(10,377)

Net assets
  
147,813
140,973


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
147,811
140,971

  
147,813
140,973


Page 1

 
CRYOGENIC INDUSTRIAL GASES LIMITED
REGISTERED NUMBER: 07246357
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income statement 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: 




................................................
R O Younge
Director

Date: 30 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CRYOGENIC INDUSTRIAL GASES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Cryogenic Industrial Gases Limited is a private company limited by shares and incorporated in England and Wales, registration number 07246357. The registered office is Station Yard, Station Road, Acle, Norfolk, NR13 3BZ.

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 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.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CRYOGENIC INDUSTRIAL GASES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
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

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
CRYOGENIC INDUSTRIAL GASES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
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 & machinery
-
33.3% on cost
Motor vehicles
-
25% on cost

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 valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
CRYOGENIC INDUSTRIAL GASES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 4).


4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 May 2023
111,789
7,000
118,789


Additions
2,640
-
2,640



At 30 April 2024

114,429
7,000
121,429



Depreciation


At 1 May 2023
68,945
3,500
72,445


Charge for the year on owned assets
29,261
1,750
31,011



At 30 April 2024

98,206
5,250
103,456



Net book value



At 30 April 2024
16,223
1,750
17,973



At 30 April 2023
42,844
3,500
46,344

Page 6

 
CRYOGENIC INDUSTRIAL GASES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
15,997
49,619

Other debtors
318,485
3,450

Prepayments and accrued income
701
1,031

335,183
54,100



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Other loans
16,667
-

Trade creditors
26,725
26,471

Corporation tax
90,644
13,316

Other taxation and social security
6,237
1,652

Other creditors
258
10,720

Accruals and deferred income
2,511
1,699

153,042
63,858



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,833
20,833

Other loans
68,055
-

78,888
20,833


The bank loans are secured against assets owned by the company.

Page 7

 
CRYOGENIC INDUSTRIAL GASES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Other loans
16,667
-


26,667
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Other loans
16,667
-


26,667
10,000

Amounts falling due 2-5 years

Bank loans
833
10,833

Other loans
50,000
-


50,833
10,833

Amounts falling due after more than 5 years

Other loans
1,388
-

1,388
-

105,555
30,833



9.


Deferred taxation




2024
2023


£

£






At beginning of year
(10,377)
(6,821)


Charged to profit or loss
6,876
(3,556)



At end of year
(3,501)
(10,377)

Page 8

 
CRYOGENIC INDUSTRIAL GASES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(3,528)
(10,409)

Pension surplus
27
32

(3,501)
(10,377)


10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,599 (2023: £3,249). Contributions totalling £111 (2023: £128) were payable to the fund at the balance sheet date and are included in creditors.


11.


Related party transactions

At the year end, included in other debtors, is a balance of £Nil (2023: £3,000 repaid 2 May 2023) owed to the company by the director.
At the year end, included in other debtors, is a balance of £210,677 loaned to an employee related to the director of the company.
G M Younge is the controlling shareholder of both Cryogenic and Industrial Spares Limited and R Younge Consulting Limited.
At the year end, included in other debtors, is a balance of £34,151 due from Cryogenic and Industrial Spares Limited (2023: £9,222 Other creditor balance).
At the year end, included in other debtors, is a balance of £1,190 due from R Younge Consulting Limited (2023: £1,200 Other creditor balance).

 
Page 9