REGISTERED NUMBER: 01758490 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

ITEC Climatic Solutions Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J T Jenkins

Mr A Davies

REGISTERED OFFICE:

Unit 16

Lodge Forge Trading Estate

Cradley Road

Cradley Heath

West Midlands

B64 7RW

REGISTERED NUMBER:

01758490 (England and Wales)

FIXED ASSETS

Tangible assets

4

96,849

125,903

CURRENT ASSETS

Stocks

73,795

28,887

Debtors

673,932

505,570

Cash at bank and in hand

73,703

227,727

821,430

762,184

CREDITORS

Amounts falling due within one year

421,619

354,897

NET CURRENT ASSETS

399,811

407,287

TOTAL ASSETS LESS CURRENT LIABILITIES

496,660

533,190

CREDITORS

Amounts falling due after more than one year

(42,088

)

(76,795

)

PROVISIONS FOR LIABILITIES

(13,105

)

(18,235

)

NET ASSETS

441,467

438,160

CAPITAL AND RESERVES

Called up share capital

7

4,958

4,958

Retained earnings

436,509

433,202

SHAREHOLDERS' FUNDS

441,467

438,160

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by:

Mr J T Jenkins - Director

1.	STATUTORY INFORMATION

ITEC Climatic Solutions 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.

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.

The financial statements have been prepared on a going concern basis.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 13 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

144,775

Additions

790

At 31 March 2025

145,565

DEPRECIATION

At 1 April 2024

18,872

Charge for year

29,844

At 31 March 2025

48,716

NET BOOK VALUE

At 31 March 2025

96,849

At 31 March 2024

125,903

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2024

and 31 March 2025

139,943

DEPRECIATION

At 1 April 2024

16,849

Charge for year

27,988

At 31 March 2025

44,837

NET BOOK VALUE

At 31 March 2025

95,106

At 31 March 2024

123,094

5.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.25

31.3.24

£

£

Gross obligations repayable:

Within one year

33,499

38,664

Between one and five years

41,116

69,449

74,615

108,113

Finance charges repayable:

Within one year

3,239

3,239

Between one and five years

2,273

5,512

5,512

8,751

Net obligations repayable:

Within one year

30,260

35,425

Between one and five years

38,843

63,937

69,103

99,362

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

69,103

99,362

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

3,216

Ordinary

£1

3,216

3,216

1,742

C Ordinary

£1

1,742

1,742

4,958

4,958

8.	ULTIMATE CONTROLLING PARTY

The controlling party is ITEC Industrial Holdings Limited.

The ultimate controlling party is Messrs J. Jenkins and A. Davies.