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Unaudited Financial Statements for the Year Ended 31 May 2018 |
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N & P Climate Control Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 May 2018 |
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for |
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N & P Climate Control Limited |
N & P Climate Control Limited (Registered number: 05603018) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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N & P Climate Control Limited |
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Company Information |
for the Year Ended 31 May 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BANKERS: |
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34 King Edward Street |
Hull |
East Yorkshire |
HU1 3SS |
N & P Climate Control Limited (Registered number: 05603018) |
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Balance Sheet |
31 May 2018 |
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31.5.18 | 31.5.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
N & P Climate Control Limited (Registered number: 05603018) |
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Balance Sheet - continued |
31 May 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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N & P Climate Control Limited (Registered number: 05603018) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2018 |
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1. | STATUTORY INFORMATION |
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N & P Climate Control Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied |
during the year, exclusive of Value Added Tax and trade discounts. |
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Tangible fixed assets |
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Motor vehicles | - |
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Computer equipment | - |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
N & P Climate Control Limited (Registered number: 05603018) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2017 |
and 31 May 2018 |
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DEPRECIATION |
At 1 June 2017 |
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Charge for year |
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At 31 May 2018 |
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NET BOOK VALUE |
At 31 May 2018 |
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At 31 May 2017 |
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N & P Climate Control Limited (Registered number: 05603018) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 June 2017 |
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Transfer to ownership | (38,404 | ) |
At 31 May 2018 |
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DEPRECIATION |
At 1 June 2017 |
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Charge for year |
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Transfer to ownership | (20,002 | ) |
At 31 May 2018 |
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NET BOOK VALUE |
At 31 May 2018 |
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At 31 May 2017 |
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5. | STOCKS |
31.5.18 | 31.5.17 |
£ | £ |
Work-in-progress |
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Finished goods |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.18 | 31.5.17 |
£ | £ |
Trade debtors |
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Directors' current accounts |
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225 |
Prepayments |
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N & P Climate Control Limited (Registered number: 05603018) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.18 | 31.5.17 |
£ | £ |
Other loans |
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Hire purchase contracts |
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Trade creditors |
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Social security and other taxes |
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VAT |
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Other creditors |
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Wages creditor | 163 | - |
CIS Tax | 2,628 | - |
Directors' current accounts |
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Accrued expenses |
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Included in creditors due within one year are secured creditors of £117,900 (2017: £42,737). |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
31.5.18 | 31.5.17 |
£ | £ |
Hire purchase contracts |
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Included in creditors due after one year are secured creditors of £Nil (2017: £117,900). |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.5.18 | 31.5.17 |
£ | £ |
Hire purchase contracts | 117,900 | 160,637 |
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10. | RELATED PARTY DISCLOSURES |
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Information regarding related party transactions and outstanding balances are listed below: |
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2018 | 2017 |
£ | £ |
Sales and recharges made to related parties | 601,650 | 457,765 |
Purchases and recharges made from related parties | 1,259,272 | 1,510,211 |
Sales ledger balances owing from related parties | 164,615 | 177,041 |
Purchase ledger balances owing to related parties | 232,247 | 265,729 |
Amounts owing to related parties | Nil | 121,562 |
Amounts owing to/(from) the directors | (12,731 | ) | 6,259 |
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The related parties are companies of which the directors are also directors of. |
N & P Climate Control Limited (Registered number: 05603018) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2018 |
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11. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors who own 76% of the issued share capital. |