Calibre Precision Climate Control Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 12331221 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Calibre Precision Climate Control

Limited

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

8

Directors:

M P Smith

P B Smith

B Smith

Registered office:

Noble House

Eaton Road

Hemel Hempstead

Hertfordshire

HP2 7UB

Registered number:

12331221 (England and Wales)

Accountants:

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambs

PE6 8EA

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Calibre Precision Climate Control Limited for the year ended 31 December 2022 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Calibre Precision Climate Control Limited, as a body, in accordance with the terms of our engagement letter dated 24 January 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Calibre Precision Climate Control Limited and state those matters that we have agreed to state to the Board of Directors of Calibre Precision Climate Control Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Calibre Precision Climate Control Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Calibre Precision Climate Control Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Calibre Precision Climate Control Limited. You consider that Calibre Precision Climate Control Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Calibre Precision Climate Control Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

27 Market Place

Market Deeping

Peterborough

Cambs

PE6 8EA

10 May 2023

Fixed assets

Intangible assets

5

232,192

265,362

Tangible assets

6

176,763

116,204

408,955

381,566

Current assets

Stocks

121,288

13,702

Debtors

7

622,435

386,022

Cash at bank and in hand

418,527

458,061

1,162,250

857,785

Creditors

Amounts falling due within one year

8

765,406

741,200

Net current assets

396,844

116,585

Total assets less current liabilities

805,799

498,151

Provisions for liabilities

40,610

12,687

Net assets

765,189

485,464

Capital and reserves

Called up share capital

9

920

920

Retained earnings

764,269

484,544

Shareholders' funds

765,189

485,464

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 April 2023 and were signed on its behalf by:

P B Smith - Director

M P Smith - Director

B Smith - Director

1.	Statutory information

Calibre Precision Climate Control Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

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.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - 10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

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.

4.	Employees and directors

The average number of employees during the year was 19 (2021 - 14 ) .

5.	Intangible fixed assets

Goodwill

£

Cost

At 1 January 2022

and 31 December 2022

331,703

Amortisation

At 1 January 2022

66,341

Charge for year

33,170

At 31 December 2022

99,511

Net book value

At 31 December 2022

232,192

At 31 December 2021

265,362

6.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2022

135,924

Additions

105,768

Disposals

(14,221

)

At 31 December 2022

227,471

Depreciation

At 1 January 2022

19,720

Charge for year

34,821

Eliminated on disposal

(3,833

)

At 31 December 2022

50,708

Net book value

At 31 December 2022

176,763

At 31 December 2021

116,204

7.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

425,103

249,089

Amounts owed by related parties

935

180

Other debtors

23,025

27,498

Retentions

97,243

97,631

Welfare Trust

13,712

20

Directors' current accounts

1,364

-

VAT

13,225

-

Prepayments and accrued income

47,828

11,604

622,435

386,022

8.

Creditors: amounts falling due within one year

2022

2021

£

£

Trade creditors

103,797

74,179

Corporation tax

84,794

58,429

Social security and other taxes

37,630

13,368

Other creditors

272,252

277,301

Directors' current accounts

128,013

268,092

Accruals and deferred income

138,920

49,831

765,406

741,200

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

810

Ordinary

£1

810

810

110

Non-voting right

£1

110

110

920

920

10.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

2022

2021

£

£

B Smith

Balance outstanding at start of year

(29,325

)

10

Amounts advanced

76,689

18,000

Amounts repaid

(46,000

)

(47,335

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,364

(29,325

)

Overdrawn balances exceeding £10,000 during the period are charged interest at the official rate (2.00%).

11.	Related party disclosures

At 31 December 2022, the company is owed a balance of £935 Smart Air Products Limited (2021: £180).