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Registration number: 11836334

Whalley Climate Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 August 2024

 

Whalley Climate Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Whalley Climate Ltd

Company Information

Directors

Mr D Seal

Mr R J Lord

Mr J D Seal

Registered office

1 Bond Street
Colne
Lancashire
BB8 9DG

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Whalley Climate Ltd
for the Year Ended 28 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Whalley Climate Ltd for the year ended 28 August 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Whalley Climate Ltd, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Whalley Climate Ltd and state those matters that we have agreed to state to the Board of Directors of Whalley Climate Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Whalley Climate Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Whalley Climate Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Whalley Climate Ltd. You consider that Whalley Climate Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Whalley Climate Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

23 May 2025

 

Whalley Climate Ltd

(Registration number: 11836334)
Balance Sheet as at 28 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,266

17,343

Current assets

 

Stocks

5

2,020

10,250

Debtors

6

327,141

256,509

Cash at bank and in hand

 

8,012

50,643

 

337,173

317,402

Creditors: Amounts falling due within one year

7

(172,160)

(243,340)

Net current assets

 

165,013

74,062

Total assets less current liabilities

 

174,279

91,405

Creditors: Amounts falling due after more than one year

7

(262,545)

(87,627)

Provisions for liabilities

-

(3,295)

Net (liabilities)/assets

 

(88,266)

483

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(88,366)

383

Shareholders' (deficit)/funds

 

(88,266)

483

For the financial year ending 28 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 May 2025 and signed on its behalf by:
 

.........................................
Mr D Seal
Director

 

Whalley Climate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 August 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:
1 Bond Street
Colne
Lancashire
BB8 9DG

The principal place of business is:
Unit 1A
Wellington Street
Clayton-le-Moors
Accrington
Lancashire
BB5 5HU

These financial statements were authorised for issue by the Board on 23 May 2025.

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.

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:

 

Whalley Climate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 August 2024

Asset class

Depreciation method and rate

Tools and equipment

20% Straight line

Motor Vehicles

25% Reducing balance

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.

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.

 

Whalley Climate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 August 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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 directors) during the year was 8 (2023 - 7).

 

Whalley Climate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 29 August 2023

3,293

33,155

36,448

Additions

3,110

-

3,110

Disposals

-

(16,278)

(16,278)

At 28 August 2024

6,403

16,877

23,280

Depreciation

At 29 August 2023

2,574

16,531

19,105

Charge for the year

991

3,655

4,646

Eliminated on disposal

-

(9,737)

(9,737)

At 28 August 2024

3,565

10,449

14,014

Carrying amount

At 28 August 2024

2,838

6,428

9,266

At 28 August 2023

645

16,698

17,343

 

Whalley Climate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 August 2024

5

Stocks

2024
£

2023
£

Work in progress

-

8,400

Other inventories

2,020

1,850

2,020

10,250

6

Debtors

2024
£

2023
£

Trade debtors

194,920

183,489

Prepayments

6,533

4,143

Other debtors

125,688

68,877

327,141

256,509

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

11,875

10,885

Trade creditors

 

108,955

179,651

Taxation and social security

 

33,272

47,523

Accruals and deferred income

 

15,917

1,128

Other creditors

 

2,141

4,153

 

172,160

243,340

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

8,906

20,782

Other non-current financial liabilities

 

253,639

66,845

 

262,545

87,627

 

Whalley Climate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 August 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

8,906

20,782

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,875

10,885

9

Related party transactions

Transactions with directors

2024

At 29 August 2023
£

Advances to director
£

At 28 August 2024
£

Mr R J Lord

Repayable on demand - interest charged at the official rate

65,945

44,090

110,035

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 August 2023
£

Mr R J Lord

Repayable on demand - interest charged at the official rate

32,133

66,312

(32,500)

65,945

Summary of transactions with other related parties

R. Briggs Sheetmetal Fabrications Ltd (Mr D. Seal is a director of both companies)
 
R. Briggs Sheetmetal Fabrications Ltd advanced loan facilities to Whalley Climate Ltd during the period. The amount owed to R. Briggs Sheetmetal Fabrications Ltd at the period end was £238,639 (2023 - £51,845). The loan is unsecured and repayable on demand.