REGISTERED NUMBER: SC569389 (Scotland)

Financial Statements for the Period 1 July 2025 to 31 December 2025

for

CSD Air Conditioning Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Coutts

J Lundin

D Scaramuzza

C Scaramuzza

A Vitols

REGISTERED OFFICE:

Suite 6,11 Alexander Street

Clydebank

G81 1SQ

REGISTERED NUMBER:

SC569389 (Scotland)

AUDITORS:

Krogh & Partners Limited, (Statutory Auditor)

823 Salisbury House

29 Finsbury Circus

London

EC2M 5QQ

FIXED ASSETS

Tangible assets

4

156,152

147,432

CURRENT ASSETS

Stocks

33,313

101,867

Debtors

5

812,442

541,693

Cash at bank

180,938

126,187

1,026,693

769,747

CREDITORS

Amounts falling due within one year

6

739,721

538,562

NET CURRENT ASSETS

286,972

231,185

TOTAL ASSETS LESS CURRENT LIABILITIES

443,124

378,617

CREDITORS

Amounts falling due after more than one year

7

(81,393

)

(119,369

)

PROVISIONS FOR LIABILITIES

(31,241

)

(10,011

)

NET ASSETS

330,490

249,237

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

330,390

249,137

SHAREHOLDERS' FUNDS

330,490

249,237

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 Board of Directors and authorised for issue on 24 June 2026 and were signed on its behalf by:

R Coutts - Director

C Scaramuzza - Director

D Scaramuzza - Director

1.	STATUTORY INFORMATION

CSD Air Conditioning Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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

Turnover from the sale of goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer. Turnover is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.

Turnover from contracts for the provision of professional and installation services is recognised by reference to the stage of completion when stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably turnover is recognised only to the extent that it is probable that the expenses recognised will be recovered.

Cost of sales

Cost of sales comprises goods consumed in the financial year measured at cost, adjusted for ordinary inventory writedowns.

Administrative expenses

Administrative expenses include expenses relating to the Entity's ordinary activities, including expenses for

premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of debtors recognised in current assets.

Staff costs

Staff costs comprise wages and salaries, and social security contributions, pension contributions, etc. for entity staff.

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.

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.

Financial instruments

The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Tangible fixed assets

Tangible assets are stated at cost, net of depreciation and any provision for impairment.

Depreciation on fixed assets is provided at rates estimated to write off the cost amounts, less estimated residual value, of each asset over its expected useful life as follows:

Plant and machinery

20% Straight line basis

Motor vehicles

20% Straight line basis

Furniture and equipment

20% Straight line basis

Computer equipment

33% Straight line basis

Stocks

Stocks are measured at the lower of cost and net realisable value. Cost consists of purchase price plus delivery cost. The net realisable value of stocks is calculated as the estimated selling price less costs incurred to execute sale.

Debtors

Debtors are valued individually and there are made provision according to this valuation.

Work in progress

The attributable profit in contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of work completed to date on the project. Costs associated with such contracts are included in work in progress to the extent that they can be matched with contract work accounted for as turnover. Full provision is made for losses on all contracts in the year which the loss is first foreseen.

Cash at bank

Cash at bank include deposits held at call with banks.

Creditors

Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortised cost.

Taxation

Taxation for the period 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 period 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 30 (2025 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2025

330,453

Additions

83,865

Disposals

(71,494

)

At 31 December 2025

342,824

DEPRECIATION

At 1 July 2025

183,021

Charge for period

38,048

Eliminated on disposal

(34,397

)

At 31 December 2025

186,672

NET BOOK VALUE

At 31 December 2025

156,152

At 30 June 2025

147,432

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

30.6.25

(Unaudited)

£

£

Trade debtors

618,039

448,962

Other debtors

72,562

35,453

Work in progress

45,503

43,756

VAT

76,338

13,522

812,442

541,693

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

30.6.25

(Unaudited)

£

£

Hire purchase contracts (see note 8)

61,626

64,884

Trade creditors

505,014

319,692

Tax

133,898

102,731

Social security and other taxes

37,508

50,326

Other creditors

1,675

929

739,721

538,562

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

30.6.25

(Unaudited)

£

£

Hire purchase contracts (see note 8)

81,393

119,369

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.25

30.6.25

(Unaudited

£

£

Net obligations repayable:

Within one year

61,626

64,884

Between one and five years

81,393

119,369

143,019

184,253

At 31 December 2025, the company had total commitments under non-cancellable operating leases of £14,400.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

30.6.25

value:

£

£

100

Ordinary

1

100

100

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

The Report of the Auditors was unqualified.

Other matter

In forming our opinion on the financial statement, which is unqualified, we have considered the adequacy of the disclosure made in the Report of the Directors to the financial statements concerning the corresponding figures are unaudited. In view of the significance of this matter, we consider that it should be drawn to your attention.

John Lindegaard (Senior Statutory Auditor)

for and on behalf of Krogh & Partners Limited, (Statutory Auditor)

11.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Nordic Climate Group UK Limited

Perfect Climate Holding Europe AB (incorporated in Sweden) is the smallest group to consolidate these financial statements and copies can be obtained from:

Perfect Climate Holding Europe AB

Svärdvägen 21

182 33 Danderyd

Sweden