COMPLETE FLUE SOLUTIONS LIMITED


Director	Mr M R Gaskins


Company Secretary	Mr M R Gaskins


Registered Address	Unit 3 Mead Park Industrial Estate, Mead Road
	Cheltenham
	GL53 7EF


Registered Number	04182280 (England and Wales)

Notes to the Financial Statements
for the period ended 28 February 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	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.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Fixtures and fittings	-	5
Vehicles	25	-
Office Equipment	-	5

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	4		4

3.	Prior period adjustment
	During the preparation of these financial statements, the director identified a material error in the prior year relating to the mis-statement of a number of Profit and Loss, and Balance Sheet account categories, due to accounting errors. In accordance with FRS 102 Section 10 Accounting Policies, Estimates and Errors, the comparative figures have been restated as if the error had never occurred. These have been summarised in Note 9 below.

Prior period adjustment

During the preparation of these financial statements, the director identified a material error in the prior year relating to the mis-statement of a number of Profit and Loss, and Balance Sheet account categories, due to accounting errors.

In accordance with FRS 102 Section 10 Accounting Policies, Estimates and Errors, the comparative figures have been restated as if the error had never occurred.

These have been summarised in Note 9 below.

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 29 February 24	4,053	80,095	3,639	87,787
Additions	2,300	-	-	2,300
Disposals	(3,181)	(16,985)	(1,836)	(22,002)
At 28 February 25	3,172	63,110	1,803	68,085
Depreciation and impairment
At 29 February 24	4,053	27,743	3,639	35,435
Charge for year	38	13,068	-	13,106
On disposals	(3,181)	(15,286)	(1,836)	(20,303)
At 28 February 25	910	25,525	1,803	28,238
Net book value
At 28 February 25	2,262	37,585	-	39,847
At 28 February 24	-	52,352	-	52,352

5.	Stocks

	2025	2024
	£	£
Raw materials and consumables	24,730	23,818
Total	24,730	23,818

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	39,560	76,641
Other debtors	8,395	16,261
Prepayments and accrued income	2,157	2,337
Total	50,112	95,239

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	22,330	69,937
Bank borrowings and overdrafts	6,000	6,000
Taxation and social security	10,870	8,800
Other creditors	8,896	11,763
Accrued liabilities and deferred income	1,975	1,500
Total	50,071	98,000

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	4,996	10,996
Total	4,996	10,996

9.	Change in reporting period and impact on comparability
	The prior year adjustments are: Profit & Balance Loss Sheet £ £ Cost of goods sold overstated 35,765 - Administration costs overstated 7,918 - Dividends understated (12,772) - Motor vehicle accumulated depreciation overstated - 7,920 Debtors overstated - (643) Creditors due within one year overstated - 23,634

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		39,847		52,352
			39,847		52,352
Current assets
Stocks	5	24,730		23,818
Debtors	6	50,112		95,239
Cash at bank and on hand		36,526		74,345
		111,368		193,402
Creditors amounts falling due within one year	7	(50,071)		(98,000)
Net current assets (liabilities)			61,297		95,402
Total assets less current liabilities			101,144		147,754
Creditors amounts falling due after one year	8		(4,996)		(10,996)
Net assets			96,148		136,758
Capital and reserves
Called up share capital			10		10
Profit and loss account			96,138		136,748
Shareholders' funds			96,148		136,758