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COMPANY REGISTRATION NUMBER: 06382245
Less CO2 Limited
Filleted Unaudited Financial Statements
30 September 2024
Less CO2 Limited
Financial Statements
Year ended 30 September 2024
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 7
Less CO2 Limited
Balance Sheet
30 September 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
33,222
31,082
Current assets
Stocks
2,965
9,268
Debtors
6
96,498
130,316
Cash at bank and in hand
40,942
41,691
---------
---------
140,405
181,275
Creditors: amounts falling due within one year
7
68,287
92,957
---------
---------
Net current assets
72,118
88,318
---------
---------
Total assets less current liabilities
105,340
119,400
Creditors: amounts falling due after more than one year
8
6,545
11,343
Provisions
Taxation including deferred tax
6,000
6,000
---------
---------
Net assets
92,795
102,057
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
92,695
101,957
--------
---------
Shareholders funds
92,795
102,057
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss has not been delivered.
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Less CO2 Limited
Balance Sheet (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 16 June 2025 , and are signed on behalf of the board by:
Mr J Neilson
Director
Company registration number: 06382245
Less CO2 Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Highup Farm, Highup Lane, Leek, Staffordshire, ST13 8SD. The company registration number is 06382245 .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
Turnover comprises the value of sales (exclusive of VAT and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when goods are despatched, which is the same day on which goods are delivered and hence the point at which the risks and rewards of ownership pass to the buyer. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Furniture and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
15% reducing balance
Depreciation is charged from month of acquisition to the month of disposal.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, and other costs incurred in bringing the stock to its present location and condition. Estimated selling price is the estimated proceeds from the sale of stock items, less all future costs to completion, costs to be incurred in marketing, selling and distributing. Cost is calculated using the average method.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value. Loans Loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 1 ).
5. Tangible assets
Plant and machinery
Furniture and fittings
Motor vehicles
Office equipment
Total
£
£
£
£
£
Cost
At 1 October 2023
20,552
608
25,595
21,356
68,111
Additions
6,503
3,758
10,261
--------
----
--------
--------
--------
At 30 September 2024
27,055
608
25,595
25,114
78,372
--------
----
--------
--------
--------
Depreciation
At 1 October 2023
16,175
534
6,399
13,921
37,029
Charge for the year
1,632
11
4,799
1,679
8,121
--------
----
--------
--------
--------
At 30 September 2024
17,807
545
11,198
15,600
45,150
--------
----
--------
--------
--------
Carrying amount
At 30 September 2024
9,248
63
14,397
9,514
33,222
--------
----
--------
--------
--------
At 30 September 2023
4,377
74
19,196
7,435
31,082
--------
----
--------
--------
--------
6. Debtors
2024
2023
£
£
Other debtors
96,498
130,316
--------
---------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Other debtors
35,148
----
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,798
4,698
Trade creditors
157
198
Other creditors
63,332
88,061
--------
--------
68,287
92,957
--------
--------
Natwest Bank PLC holds a fixed and floating charge over all property or undertakings of the company.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,545
11,343
-------
--------
Natwest Bank PLC holds a fixed and floating charge over all property or undertakings of the company.
9. Other financial commitments
The total future contracted payments under non-cancellable agreements are as follows:
2024 2023
£ £
Not later than 1 year 20,000 20,000
Later than 1 year not later than 5 years 40,000 60,000
-------- --------
60,000 80,000
-------- --------