Climb Newcastle Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Climb Newcastle Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06106416 . The registered office is Former Shipley Baths, Shipley Place, Newcastle Upon Tyne, Tyne And Wear, NE6 2DQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Functional and Presentational Currency

The company's functional and presentational currency is GBP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	4% reducing balance
Plant & Machinery	4 years straight line
Motor Vehicles	5 years straight line
Fixtures & Fittings	4 years straight line
Office Equipment	4 years straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. 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.

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Climb Newcastle Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Employee Benefits

The costs of short term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.10. Cash and Cash Equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

2.11. 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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 20 (2025: 21)

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Climb Newcastle Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 March 2025	63,295	118,270	3,695	323,118
Additions	-	835	-	8,354
Disposals	-	(3,434 )	-	(1,372 )

As at 28 February 2026	63,295	115,671	3,695	330,100

Depreciation
As at 1 March 2025	27,959	116,562	3,695	279,320
Provided during the period	1,413	715	-	25,468
Disposals	-	(3,434 )	-	(1,372 )

As at 28 February 2026	29,372	113,843	3,695	303,416

Net Book Value
As at 28 February 2026	33,923	1,828	-	26,684

As at 1 March 2025	35,336	1,708	-	43,798


	Office Equipment	Total
	£	£
Cost
As at 1 March 2025	44,061	552,439
Additions	18,852	28,041
Disposals	-	(4,806 )

As at 28 February 2026	62,913	575,674

Depreciation
As at 1 March 2025	34,340	461,876
Provided during the period	8,557	36,153
Disposals	-	(4,806 )

As at 28 February 2026	42,897	493,223

Net Book Value
As at 28 February 2026	20,016	82,451

As at 1 March 2025	9,721	90,563

5. Stocks

	2026	2025
	£	£
Stock	93,008	88,955

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Climb Newcastle Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	1,380	2,922
Prepayments and accrued income	42,199	11,654

	43,579	14,576

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	6,817	3,869
Corporation tax	2,641	28,636
Other taxes and social security	7,427	6,946
VAT	30,028	24,949
Other creditors	4,371	2,071
Accruals and deferred income	3,828	409
Directors' loan accounts	6,841	5,828

	61,953	72,708

8. Deferred Taxation

The provision for deferred tax is made up as follows:

	2026	2025
	£	£
Other timing differences	15,666	22,641

9. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
99 Ordinary Shares of £ 1 each	99	99

10. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2026	2025
	£	£
Not later than one year	68,725	68,725
Later than one year and not later than five years	374,312	353,037
Later than five years	562,500	652,500

	1,005,537	1,074,262

11. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,769 (2025: £2,067) were due to the fund. They are included in other creditors.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		82,451		90,563

			82,451		90,563
CURRENT ASSETS
Stocks	5	93,008		88,955
Debtors	6	43,579		14,576
Cash at bank and in hand		134,045		226,882

		270,632		330,413
Creditors: Amounts Falling Due Within One Year	7	(61,953 )		(72,708 )

NET CURRENT ASSETS (LIABILITIES)			208,679		257,705

TOTAL ASSETS LESS CURRENT LIABILITIES			291,130		348,268

PROVISIONS FOR LIABILITIES
Deferred Taxation	8		(15,666 )		(22,641 )

NET ASSETS			275,464		325,627

CAPITAL AND RESERVES
Called up share capital	9		99		99
Profit and Loss Account			275,365		325,528

SHAREHOLDERS' FUNDS			275,464		325,627