Company registration number: 04173067
COMPANY INFORMATION
CONTENTS
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 8 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Climate Control (Southern) Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is disclosed on the company information page.
The accounting period has been extended by one month to 31st December 2024 to be in line with other associated companies, therefore the prior year figures presented are not entirely comparable.
The trading address of the company is Unit 16 Seddul Bahr Industrial Estate, Allington Lane, Southampton, SO30 3HP.
The accounting period has been extended by one month to 31st December 2024 to be in line with other associated companies, therefore the prior year figures presented are not entirely comparable.
The trading address of the company is Unit 16 Seddul Bahr Industrial Estate, Allington Lane, Southampton, SO30 3HP.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
At the year end date, the company’s liabilities exceed its assets. As a result, the company is reliant on the
continued financial support provided to it by its directors and participators in the company, and by a company
under the control of the same directors and participators.
In their capacity as directors of the company under common control, and their own capacity, the directors have
confirmed that amounts due to them, and the entity they control, will not be recalled in the foreseeable future.
As a result of this confirmation, and the assessment that for the foreseeable future the company can settle
other liabilities as they fall due, the directors consider it appropriate to continue to prepare the financial
statements on a going concern basis.
continued financial support provided to it by its directors and participators in the company, and by a company
under the control of the same directors and participators.
In their capacity as directors of the company under common control, and their own capacity, the directors have
confirmed that amounts due to them, and the entity they control, will not be recalled in the foreseeable future.
As a result of this confirmation, and the assessment that for the foreseeable future the company can settle
other liabilities as they fall due, the directors consider it appropriate to continue to prepare the financial
statements on a going concern basis.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Page 7
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
At the period end, included within debtors falling due under one year were amounts due to the company from a director amounting to £27,634 (2023 amounts owed to a director of £24.00). Repayments of £9,400 were received in the period. The loan is undated and interest is charged at the official government rate.
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