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REGISTERED NUMBER: 12317443 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Climatec Equipment Services Ltd.

Climatec Equipment Services Ltd. (Registered number: 12317443)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Climatec Equipment Services Ltd. (Registered number: 12317443)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 163,680 177,002

CURRENT ASSETS
Inventories 569,314 718,205
Debtors 5 398,665 227,939
Cash at bank and in hand 497,856 100,327
1,465,835 1,046,471
CREDITORS
Amounts falling due within one year 6 1,410,316 1,126,522
NET CURRENT ASSETS/(LIABILITIES) 55,519 (80,051 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

219,199

96,951

PROVISIONS FOR LIABILITIES 39,691 6,554
NET ASSETS 179,508 90,397

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 179,507 90,396
SHAREHOLDERS' FUNDS 179,508 90,397

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Climatec Equipment Services Ltd. (Registered number: 12317443)

Balance Sheet - continued
31 December 2024


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

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 director and authorised for issue on 3 June 2025 and were signed by:





Mrs M L Williams - Director


Climatec Equipment Services Ltd. (Registered number: 12317443)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Climatec Equipment Services 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: 12317443

Registered office: The Barn at The Moat
Anthonys Cross
Newent
Gloucestershire
GL18 1JG

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements; estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered· to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Climatec Equipment Services Ltd. (Registered number: 12317443)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. 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.
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


Climatec Equipment Services Ltd. (Registered number: 12317443)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current of part reporting periods. It is measured at the amount expected to be paid or recovered using the rate rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of the current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. Gains and losses arising on translation in the period are included in profit or loss.

Hire purchase and leasing commitments
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

Climatec Equipment Services Ltd. (Registered number: 12317443)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 January 2024 69,716 95,536 183,841 25,940 375,033
Additions 1,550 - 29,108 1,630 32,288
At 31 December 2024 71,266 95,536 212,949 27,570 407,321
Depreciation
At 1 January 2024 35,533 55,400 86,584 20,514 198,031
Charge for year 7,106 8,027 27,953 2,524 45,610
At 31 December 2024 42,639 63,427 114,537 23,038 243,641
Net book value
At 31 December 2024 28,627 32,109 98,412 4,532 163,680
At 31 December 2023 34,183 40,136 97,257 5,426 177,002

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 382,564 215,954
Other debtors 16,101 11,985
398,665 227,939

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 86,549 116,079
Amounts owed to group undertakings 949,554 887,705
Taxation and social security 184,491 116,628
Other creditors 189,722 6,110
1,410,316 1,126,522

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 1 1

8. FINANCIAL COMMITMENTS

The total value of financial commitments, guarantees and contingencies that are not included in the balance sheet amounts to £291,705 (2023: £329,400).

Climatec Equipment Services Ltd. (Registered number: 12317443)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £352 (2023: £352) owed to the director of the company, the loan is unsecured, interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

The balance of amounts showing as owed to group undertakings is all owed to the company's parent entity, Climatec Systems Ltd. The loan is interest free and repayable on demand. However, the parent entity would not call in the loan if it impacted the company's solvency.