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REGISTERED NUMBER: 14188012 (England and Wales)












CLAYTON POWER SYSTEMS UK LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024






CLAYTON POWER SYSTEMS UK LTD (REGISTERED NUMBER: 14188012)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLAYTON POWER SYSTEMS UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: M F Stelvig





REGISTERED OFFICE: Sony UK Technology Centre
Pencoed Technology Park
Pencoed
CF35 5HZ





REGISTERED NUMBER: 14188012 (England and Wales)





AUDITORS: Bevan Buckland LLP
Chartered Accountants
And Statutory Auditors
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

CLAYTON POWER SYSTEMS UK LTD (REGISTERED NUMBER: 14188012)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 168,052 51,958

CURRENT ASSETS
Stocks 601,052 248,051
Debtors 5 1,084,301 378,980
Cash at bank 219,683 48,042
1,905,036 675,073
CREDITORS
Amounts falling due within one year 6 2,179,628 1,334,835
NET CURRENT LIABILITIES (274,592 ) (659,762 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(106,540

)

(607,804

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (106,541 ) (607,805 )
(106,540 ) (607,804 )

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 May 2025 and were signed by:





M F Stelvig - Director


CLAYTON POWER SYSTEMS UK LTD (REGISTERED NUMBER: 14188012)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Clayton Power Systems UK Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

Going Concern
At the period end the company had liabilities of £2,179,628 (2023: £1,334,835) and net current liabilities of £274,592 (2023: £607,804). This position would indicate that there is a material risk to going concern. However, due to the ongoing support from the parent company, Clayton Power A/S, the director feels that preparation of the accounts on a going concern basis is appropriate.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
The company sells goods for delivery to the customer. Revenue is recognised when the risks and rewards of the inventory are passed to the customer. This is the point of acceptance of the goods by the customer.

Provision is made for credit notes based on the expected level of returns which is based on the historical experience of returns.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment - 25% Straight line basis.
Motor Vehicles - 25% Reducing balance.

Stocks
Inventories are stated at the lower of cost and estimated selling price less costs to sell. Inventories are recognised as an expense in the period in which the related revenue is recognised.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the inventory to its present location and condition.

At the end of each reporting period inventories are assessed for impairment. If an item of inventory is impaired, the identified inventory is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

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


CLAYTON POWER SYSTEMS UK LTD (REGISTERED NUMBER: 14188012)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. 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.

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.

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.

CLAYTON POWER SYSTEMS UK LTD (REGISTERED NUMBER: 14188012)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position 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 trade and other receivables 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.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans 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 receipts discounted at a market rate of interest.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Cash at bank and cash in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

Functional and Presentation Currency
The company's functional and presentation currency is pounds sterling.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 5 ) .

CLAYTON POWER SYSTEMS UK LTD (REGISTERED NUMBER: 14188012)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 64,054
Additions 151,827
At 31 December 2024 215,881
DEPRECIATION
At 1 January 2024 12,096
Charge for year 35,733
At 31 December 2024 47,829
NET BOOK VALUE
At 31 December 2024 168,052
At 31 December 2023 51,958

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 507,120 362,740
Amounts owed by group undertakings 552,319 -
Other debtors 24,862 16,240
1,084,301 378,980

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,923,361 828,422
Amounts owed to group undertakings - 380,379
Taxation and social security 221,159 102,178
Other creditors 35,108 23,856
2,179,628 1,334,835

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

We were not appointed as auditor of the company until after 31 December 2023 and thus did not observe the counting of physical inventories at the end of the prior year. We were unable to satisfy ourselves by alternate means concerning the inventory quantities held at 31 December 2023, which are included in the balance sheet at £248,051, by using other audit procedures. Consequently, we were unable to determine whether any adjustment to this amount was necessary. We could therefore not agree the opening inventory balance at the year ended 31 December 2024.

Henry Lloyd Davies (Senior Statutory Auditor)
for and on behalf of Bevan Buckland LLP

CLAYTON POWER SYSTEMS UK LTD (REGISTERED NUMBER: 14188012)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

8. RELATED PARTY DISCLOSURES

At the date of these financial statements, a total of £1,843,372 was owed to Clayton Power A/S made up entirely of trade creditors.

At this date there is also a debtor loan balance of £552,319. The debtor balance includes a discount from Clayton Power A/S for achieving sales targets and a subsidy for marketing.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Janick Lauenborg who has a 40% shareholding in the parent company, Clayton Power A/S.