Conditioned Environment Mechanical Services Limited - Period Ending 2020-03-31

CONDITIONED ENVIRONMENT MECHANICAL SERVICES LIMITED - Company Information

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Registration number: 03805885

Conditioned Environment Mechanical Services Limited

Financial Statements

for the Year Ended 31 March 2020

Conditioned Environment Mechanical Services Limited

Contents

Company Information	1
Strategic Report	2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 7
Profit and Loss Account	8
Statement of Comprehensive Income	9
Balance Sheet	10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Financial Statements	13 to 19

Conditioned Environment Mechanical Services Limited

Company Information

Directors

L Pearce

C J Pearce

A Coulson

Registered office

245 Acton Lane
Park Royal
London
NW10 7NR

Auditors

Brooks Green
Registered Auditors
Abbey House
342 Regents Park Road
London
N3 2LJ

Conditioned Environment Mechanical Services Limited

Strategic Report for the Year Ended 31 March 2020

The directors present their strategic report for the year ended 31 March 2020.

Principal activity

The principal activity of the company is mechanical services and building refurbishment

Fair review of the business

The directors consider the state of the company's results to be satisfactory. The company is continuing to consolidate the position of its brand in the market as well as continuing to monitor the market place together with refining and updating its range of services. The direcotrs are in the first year of a five-year plan for improved services and a larger client base, that will see an uplift in sales and profitability.

Principal risks and uncertainties

The company operates in a competitive market and market share fluctuations will always be a risk. The company controls this risk by monitoring and continually refreshing its services. The company invests in advertising and marketing campains together with a comprehensive training programme for all staff.

Approved by the Board on 17 November 2020 and signed on its behalf by:

L Pearce
Director

Conditioned Environment Mechanical Services Limited

Directors' Report for the Year Ended 31 March 2020

The directors present their report and the financial statements for the year ended 31 March 2020.

Directors of the company

The directors who held office during the year were as follows:

L Pearce

C J Pearce

A Coulson

Financial instruments

Objectives and policies

The company's principal financial instruments comprise bank balances, debtors and creditors. The main purpose of these instruments is to finance the company's operations.

Price risk, credit risk, liquidity risk and cash flow risk

The company operates in a competitive environment and there are always fu=inancial pressures. The directors strive to control this risk by careful financial and cashflow management.

Reappointment of auditors

In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Brooks Green as auditors of the company is to be proposed at the forthcoming Annual General Meeting.

Approved by the Board on 17 November 2020 and signed on its behalf by:

L Pearce
Director

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Conditioned Environment Mechanical Services Limited

Statement of Directors' Responsibilities

Statement of Directors' responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

Conditioned Environment Mechanical Services Limited

Independent Auditor's Report to the Members of Conditioned Environment Mechanical Services Limited

Opinion

We have audited the financial statements of Conditioned Environment Mechanical Services Limited (the 'company') for the year ended 31 March 2020, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

•	give a true and fair view of the state of the company's affairs as at 31 March 2020 and of its profit for the year then ended;
•	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
•	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

•	the directors’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
•	the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Conditioned Environment Mechanical Services Limited

Independent Auditor's Report to the Members of Conditioned Environment Mechanical Services Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

•	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
•	the financial statements are not in agreement with the accounting records and returns; or
•	certain disclosures of directors’ remuneration specified by law are not made; or
•	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 4], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

•

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

•	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.

•	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

Conditioned Environment Mechanical Services Limited

Independent Auditor's Report to the Members of Conditioned Environment Mechanical Services Limited

•

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

•	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

•

Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Rowland Aarons (Senior Statutory Auditor)
For and on behalf of Brooks Green, Statutory Auditor

Abbey House
342 Regents Park Road
London
N3 2LJ

17 November 2020

Conditioned Environment Mechanical Services Limited

Profit and Loss Account for the Year Ended 31 March 2020

	Note	2020 £	2019 £
Turnover	3	19,076,302	16,001,468
Cost of sales		(13,520,859)	(13,601,112)
Gross profit		5,555,443	2,400,356
Administrative expenses		(3,798,820)	(2,834,346)
Operating profit/(loss)	4	1,756,623	(433,990)
Other interest receivable and similar income	5	18,903	1,955
Interest payable and similar expenses	6	(10,392)	(31,784)
		8,511	(29,829)
Profit/(loss) before tax		1,765,134	(463,819)
Tax on profit/(loss)	10	(323,072)	427,876
Profit/(loss) for the financial year		1,442,062	(35,943)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Conditioned Environment Mechanical Services Limited

Statement of Comprehensive Income for the Year Ended 31 March 2020

	2020 £	2019 £
Profit/(loss) for the year	1,442,062	(35,943)
Total comprehensive income for the year	1,442,062	(35,943)

Conditioned Environment Mechanical Services Limited

(Registration number: 03805885)
Balance Sheet as at 31 March 2020

	Note	2020 £		2019 £

Fixed assets
Tangible assets	11		239,244		74,660
Current assets
Stocks	12	183,955		514,806
Debtors	13	2,720,628		3,316,611
Cash at bank and in hand		1,373,701		96,688
		4,278,284		3,928,105
Creditors: Amounts falling due within one year	14	(4,120,183)		(3,984,516)
Net current assets/(liabilities)			158,101		(56,411)
Total assets less current liabilities			397,345		18,249
Creditors: Amounts falling due after more than one year	14		-		(13,044)
Net assets			397,345		5,205
Capital and reserves
Called up share capital		300		222
Profit and loss account		397,045		4,983
Shareholders' funds			397,345		5,205

Approved and authorised by the Board on 17 November 2020 and signed on its behalf by:

L Pearce
Director

Conditioned Environment Mechanical Services Limited

Statement of Changes in Equity for the Year Ended 31 March 2020

	Share capital £	Profit and loss account £	Total £
At 1 April 2019	222	4,983	5,205
Profit for the year	-	1,442,062	1,442,062
Total comprehensive income	-	1,442,062	1,442,062
Dividends	-	(1,050,000)	(1,050,000)
New share capital subscribed	78	-	78
At 31 March 2020	300	397,045	397,345

	Share capital £	Profit and loss account £	Total £
At 1 April 2018	200	654,926	655,126
Loss for the year	-	(35,943)	(35,943)
Total comprehensive income	-	(35,943)	(35,943)
Dividends	-	(614,000)	(614,000)
New share capital subscribed	22	-	22
At 31 March 2019	222	4,983	5,205

Conditioned Environment Mechanical Services Limited

Statement of Cash Flows for the Year Ended 31 March 2020

	Note	2020 £	2019 £
Cash flows from operating activities
Profit/(loss) for the year		1,442,062	(35,943)
Adjustments to cash flows from non-cash items
Depreciation and amortisation	4	30,448	51,823
Finance income	5	(18,903)	(1,955)
Finance costs	6	10,392	31,784
Income tax expense	10	323,072	(427,876)
		1,787,071	(382,167)
Working capital adjustments
Decrease/(increase) in stocks	12	330,851	(326,972)
Decrease in trade debtors	13	595,983	1,351,447
Decrease in trade creditors	14	(143,999)	(241,602)
Cash generated from operations		2,569,906	400,706
Income taxes (paid)/received	10	(35,282)	264,248
Net cash flow from operating activities		2,534,624	664,954
Cash flows from investing activities
Interest received	5	18,903	1,955
Acquisitions of tangible assets		(207,120)	(264,403)
Net cash flows from investing activities		(188,217)	(262,448)
Cash flows from financing activities
Interest paid	6	(10,392)	(25,129)
Dividends paid		(1,050,000)	(614,000)
Net cash flows from financing activities		(1,060,392)	(639,129)
Net increase/(decrease) in cash and cash equivalents		1,286,015	(236,623)
Cash and cash equivalents at 1 April		96,688	122,425
Cash and cash equivalents at 31 March		1,382,703	(114,198)

Conditioned Environment Mechanical Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

1	General information

The company is a private company limited by share capital, incorporated in England.

The principal place of business is:
245 Acton Lane
Park Royal
London
NW10 7NR

These financial statements were authorised for issue by the Board on 17 November 2020.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets is stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% on cost
Fixtures and fittings	20% on cost

Conditioned Environment Mechanical Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

Vehicles	33% on cost and 20% on cost
Computer equipment	33% on cost

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Conditioned Environment Mechanical Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Revenue

The analysis of the company's revenue for the year from continuing operations is as follows:

	2020 £	2019 £
Sale of goods	19,076,302	16,001,468

4	Operating profit/(loss)

Arrived at after charging/(crediting)

	2020 £	2019 £
Depreciation expense	30,448	51,823

5	Other interest receivable and similar income

Conditioned Environment Mechanical Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

	2020 £	2019 £
Interest income on bank deposits	-	1,955
Other finance income	18,903	-
	18,903	1,955

6	Interest payable and similar expenses

	2020 £	2019 £
Interest on bank overdrafts and borrowings	10,392	25,129
Interest on obligations under finance leases and hire purchase contracts	-	6,655
	10,392	31,784

7	Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

	2020 £	2019 £
Wages and salaries	3,521,966	4,215,192
Other short-term employee benefits	36,990	25,025
Pension costs, defined contribution scheme	53,172	40,795
Other employee expense	244,455	445,286
	3,856,583	4,726,298

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

	2020 No.	2019 No.
Production	26	55
Administration and support	6	11
	32	66

8	Directors' remuneration

The directors' remuneration for the year was as follows:

	2020 £	2019 £
Remuneration	-	42,500

9	Auditors' remuneration

	2020 £	2019 £
Audit of the financial statements	12,758	16,750

Conditioned Environment Mechanical Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

Taxation

Tax charged/(credited) in the income statement

	2020 £	2019 £
Current taxation
UK corporation tax	323,072	(427,876)

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2019 - the same as the standard rate of corporation tax in the UK) of 19% (2019 - 19%).

The differences are reconciled below:

	2020 £	2019 £
Profit/(loss) before tax	1,765,134	(463,819)
Corporation tax at standard rate	335,376	(88,126)
Effect of expense not deductible in determining taxable profit (tax loss)	25,653	43,147
Effect of tax losses	(33,461)	38,665
Deferred tax credit from unrecognised temporary difference from a prior period	(3,241)	(6,314)
Tax (decrease)/increase from effect of capital allowances and depreciation	(1,255)	6,314
Tax decrease from effect of adjustment in research and development tax credit	-	(421,562)
Total tax charge/(credit)	323,072	(427,876)

11	Tangible assets

	Freehold land and buildings £	Fixtures and fittings £	Motor vehicles £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2019	-	119,067	276,309	38,836	434,212
Additions	165,494	41,626	-	-	207,120
At 31 March 2020	165,494	160,693	276,309	38,836	641,332
Depreciation
At 1 April 2019	-	97,118	224,671	37,763	359,552
Charge for the year	-	11,395	30,471	670	42,536
At 31 March 2020	-	108,513	255,142	38,433	402,088
Carrying amount
At 31 March 2020	165,494	52,180	21,167	403	239,244
At 31 March 2019	-	21,949	51,638	1,073	74,660

Conditioned Environment Mechanical Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

Stocks

	2020 £	2019 £
Work in progress	183,955	514,806

Debtors

	2020 £	2019 £
Trade debtors	1,804,448	1,486,611
Other debtors	629,585	1,528,940
Prepayments and accrued income	43,509	301,060
Accrued income	105,080	-
Gross amount due from customers for contract work	138,006	-
Total current debtors	2,720,628	3,316,611

Creditors

	Note	2020 £	2019 £
Due within one year
Loans and borrowings		7,290	15,414
Trade creditors		1,884,739	2,609,249
Social security and other taxes		363,544	600,771
Other payables		587,226	137,271
Accruals and deferred income		951,072	583,289
Corporation tax	10	326,312	38,522
		4,120,183	3,984,516
Due after one year
Loans and borrowings		-	13,044

15	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary of £0.01 each	20,000	200.00	20,000	200.00
Ordinary A of £0.01 each	10,000	100.00	2,222	22.22
	30,000	300	22,222	222

Conditioned Environment Mechanical Services Limited

Notes to the Financial Statements for the Year Ended 31 March 2020

16	Related party transactions

Summary of transactions with key management

Transactions with directors

2020	At 1 April 2019 £	Advances to directors £	Repayments by director £	At 31 March 2020 £
L Pearce
Advances	257,141	203,384	(350,000)	110,525

C J Pearce
Advances	257,141	203,384	(350,000)	110,525

A Coulson
Advances	257,141	203,384	(350,000)	110,525

2019	At 1 April 2018 £	Advances to directors £	Repayments by director £	At 31 March 2019 £
L Pearce
Advances	237,602	254,539	(235,000)	257,141


C J Pearce
Advances	223,702	268,439	(235,000)	257,141


A Coulson
Advances	-	401,141	(144,000)	257,141

17	Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £53,172 (2019 - £40,795).