Registration number:
ClimatePartner UK Limited
for the Year Ended 31 December 2024
ClimatePartner UK Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
ClimatePartner UK Limited
Company Information
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Directors |
M P Lehmkuhl R Hill J Benghiat D Jordanovski |
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Registered office |
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Independent Auditors |
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ClimatePartner UK Limited
(Registration number: 12812474)
Statement of Financial Position as at 31 December 2024
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Note |
2024 |
2023 |
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Current assets |
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Receivables |
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Cash at bank and in hand |
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Payables: Amounts falling due within one year |
( |
( |
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Net assets |
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Equity |
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Called up share capital |
100 |
100 |
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Retained earnings |
545,880 |
348,342 |
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Total equity |
545,980 |
348,442 |
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 and in
accordance with the provisions of FRS 102 Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income statement has been taken.
The financial statements of ClimatePartner UK Limited were approved and authorised for issue by the
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Director
ClimatePartner UK Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024
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General information |
ClimatePartner UK Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
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Accounting policies |
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.
Going concern
The directors have considered the company’s financial position, liquidity and future performance together with financial projections for the company and over the foreseeable future and have also reviewed the availability of banking facilities. After making enquiries, the directors are satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the company’s financial statements.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Summary of disclosure exemptions
The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. The company is consolidated in the financial statements of its ultimate parent, SustainablePartner GmbH, which may be obtained from St.-Martin-Straße 59, 81669 München, Germany. Exemptions have been taken in these separate company financial statements in relation to financial instruments, presentation of a cash flow statement, transactions with group entities and remuneration of key management personnel.
ClimatePartner UK Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)
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2 |
Accounting policies (continued) |
Judgements and key sources of estimation uncertainties
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date
and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following estimates have had the most significant effect on amounts recognised in the financial statements.
(i) Accounts receivable
A majority of the company's accounts receivable are derived from sales to a number of large organisations. In order to monitor potential credit losses, the company performs ongoing credit evaluations of the customers' financial condition. An allowance for doubtful debts is maintained for potential credit losses based upon management's assessment of the expected collectability of all accounts receivable. The allowance for doubtful accounts is reviewed periodically to assess the adequacy of the allowance. In making this assessment, management takes into consideration customer circumstances and make judgements as to the potential impact of prevailing economic conditions. The actual level of debt collected may differ from the estimated levels of recovery and could impact future operating results positively or negatively. As at 31 December 2024 the company's current trade receivables were £864K against which £30K was provided for impairment.
Revenue recognition
Revenue represents the value of services provided during the year; net of value added tax. Revenue is recognised as follows:
(i) Consulting services - recognised where the company has a contractual right to receive revenue for work undertaken.
(ii) Fees solution services - recognised over the term of the agreement of granting the software access to the customer.
(iii) Offset solution services - recognised when the company has a contractual right to receive revenue for work undertaken.
Foreign currency transactions and balances
Taxation
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and at bank.
ClimatePartner UK Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)
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2 |
Accounting policies (continued) |
Receivables
Trade and other receivables that are receivable within one year and do not constitute a financing
transaction are recorded at the undiscounted amount expected to be received, net of impairment.
Those that are receivable after more than one year or that constitute a financing transaction are
recorded initially at fair value less transaction costs and subsequently at amortised cost, net of
impairment.
Payables
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary
course of business from suppliers. Trade and other payables 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 and other payables that are payable within one year and do not constitute a financing
transaction are recorded at the undiscounted amount expected to be paid. Those that are payable
after more than one year or that constitute a financing transaction are recorded initially at transaction
price and subsequently at amortised cost using the effective interest method.
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.
Defined contribution pension obligation
The company contributes into defined contribution pension schemes for the benefit of its employees. The assets of the schemes are held separately from those of the company. Contributions are recognised in the income statement in the period in which they become payable.
Financial instruments
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Staff numbers |
The average number of persons employed by the company during the year was
ClimatePartner UK Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)
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Taxation |
Tax charged in the income statement
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2024 |
2023 |
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Current taxation |
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UK corporation tax |
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The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2023 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
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2024 |
2023 |
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Profit before tax |
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Corporation tax at standard rate |
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Effect of expense not deductible in determining taxable profit |
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Effect of changes in tax rates or laws |
- |
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Total tax charge |
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Receivables |
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2024 |
2023 |
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Trade receivables |
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Amount owed by group undertaking (Cash pool) |
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- |
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Other receivables |
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Prepayments |
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Amount owned by group undertaking (cash pool) relates to bank balances that are legally held in the name of the parent undertaking under a group cash pool arrangement. The balance is unsecured, payable on demand and is interest bearing.
ClimatePartner UK Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)
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Cash and cash equivalents |
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2024 |
2023 |
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Cash at bank |
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Payables |
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2024 |
2023 |
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Due within one year |
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Trade payables |
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Amounts owed to parent undertaking |
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Social security and other taxes |
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Corporation tax |
69,966 |
46,134 |
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Outstanding defined contribution pension costs |
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Other payables |
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Accruals |
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Deferred income |
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The amounts owed to parent undertaking disclosed as falling within one year comprises trading and loan balances. The trading balances are unsecured, payable on demand and non-interest bearing.
The loan balance amounting to nil (2023: £1,320,213) is unsecured, payable on demand and is subject to interest.
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Share capital and reserves |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
The company has one class of share capital which carries no right to fixed income.
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
ClimatePartner UK Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)
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Pension scheme |
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Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £
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Related party transactions |
The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities not to disclose transactions with entities that are wholly owned members of the group.There were no other related party transactions to disclose.
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
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Events after the financial period |
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Audit report |