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REGISTERED NUMBER: 09165915 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30th September 2024

for

Humidity Response Ltd

Humidity Response Ltd (Registered number: 09165915)






Contents of the Financial Statements
for the Year Ended 30th September 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Humidity Response Ltd (Registered number: 09165915)

Abridged Balance Sheet
30th September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 580,766 684,853

CURRENT ASSETS
Stocks 14,448 12,122
Debtors 60,405 187,050
Cash at bank 45,034 20,077
119,887 219,249
CREDITORS
Amounts falling due within one year 59,898 106,085
NET CURRENT ASSETS 59,989 113,164
TOTAL ASSETS LESS CURRENT
LIABILITIES

640,755

798,017

CREDITORS
Amounts falling due after more than one
year

(59,105

)

(76,840

)

PROVISIONS FOR LIABILITIES (217,908 ) (253,635 )
NET ASSETS 363,742 467,542

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 6 440,151 440,151
Retained earnings (76,410 ) 27,390
SHAREHOLDERS' FUNDS 363,742 467,542

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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.

Humidity Response Ltd (Registered number: 09165915)

Abridged Balance Sheet - continued
30th September 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th February 2025 and were signed on its behalf by:





Mr B Head - Director


Humidity Response Ltd (Registered number: 09165915)

Notes to the Financial Statements
for the Year Ended 30th September 2024

1. STATUTORY INFORMATION

Humidity Response Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09165915

Registered office: Unit 21 Integra
Parkwood
Maidstone
Kent
ME15 9GQ

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Sale are presented, net of value-added tax, rebates and discounts.

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

Revenue from the sale of goods is recognised at the point at which the goods have been delivered to the customer.

Humidity Response Ltd (Registered number: 09165915)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Plant and machinery is stated at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.

The fair value of plant and machinery is determined from market-based evidence by appraisal that is undertaken by the directors. If there is no market-based evidence of fair value because of the specialised nature of the item of property, plant and equipment and the item is rarely sold, except as part of a continuing business, the directors will estimate fair value using a depreciated replacement cost approach.

Fixtures & fittings is stated at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.

The fair value of Fixtures & fittings is determined from market-based evidence by appraisal that is undertaken by the directors. If there is no market-based evidence of fair value because of the specialised nature of the item of property, plant and equipment and the item is rarely sold, except as part of a continuing business, the directors will estimate fair value using a depreciated replacement cost approach.

Computer equipment is stated at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.

The fair value of computer equipment is determined from market-based evidence by appraisal that is undertaken by the directors. If there is no market-based evidence of fair value because of the specialised nature of the item of property, plant and equipment and the item is rarely sold, except as part of a continuing business, the directors will estimate fair value using a depreciated replacement cost approach.

If an asset’s carrying amount is increased as a result of a revaluation, the increase shall be recognised in other comprehensive income and accumulated in equity. However, the increase shall be recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss.

The decrease of an asset’s carrying amount as a result of a revaluation shall be recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity, in respect of that asset. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Humidity Response Ltd (Registered number: 09165915)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

3. ACCOUNTING POLICIES - continued

Stocks
Stock is 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 bringing stocks to their present location and condition.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.

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, an impairment loss is recognised in the profit and loss.

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


Humidity Response Ltd (Registered number: 09165915)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

3. 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4. EMPLOYEES AND DIRECTORS

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

Humidity Response Ltd (Registered number: 09165915)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1st October 2023 907,302
Additions 40,665
Disposals (89,748 )
At 30th September 2024 858,219
DEPRECIATION
At 1st October 2023 222,449
Charge for year 85,531
Eliminated on disposal (30,527 )
At 30th September 2024 277,453
NET BOOK VALUE
At 30th September 2024 580,766
At 30th September 2023 684,853

Cost or valuation at 30th September 2024 is represented by:

Totals
£   
Valuation in 2022 343,015
Cost 515,204
858,219

Humidity Response Ltd (Registered number: 09165915)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST OR VALUATION
At 1st October 2023 65,748
Disposals (63,248 )
At 30th September 2024 2,500
DEPRECIATION
At 1st October 2023 21,030
Charge for year 289
Eliminated on disposal (21,498 )
At 30th September 2024 (179 )
NET BOOK VALUE
At 30th September 2024 2,679
At 30th September 2023 44,718

6. RESERVES
Revaluation
reserve
£   
At 1st October 2023
and 30th September 2024 440,151