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Filleted
Registration number: 05739442

J Harries Refrigeration Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

J Harries Refrigeration Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

J Harries Refrigeration Limited

Company Information

Director

Mr D Harries

Registered office

Hill Cottage
Maenclochog
Clynderwen
SA66 7LQ

Accountants

LHP Haverfordwest
Chartered Certified Accountants
1st Floor
Agriculture House
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1RW

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
J Harries Refrigeration Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J Harries Refrigeration Limited for the year ended 31 March 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants (ACCA), we are subject to its ethical and other professional requirements which are disclosed and available at the following website https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.

This report is made solely to the Board of Directors of J Harries Refrigeration Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of J Harries Refrigeration Limited and state those matters that we have agreed to state to the Board of Directors of J Harries Refrigeration Limited, as a body, in this report in accordance with the requirements of the ACCA as detailed at the following website http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J Harries Refrigeration Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that J Harries Refrigeration Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of J Harries Refrigeration Limited. You consider that J Harries Refrigeration 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 accounts of J Harries Refrigeration 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 accounts.

......................................

LHP Haverfordwest
Chartered Certified Accountants
1st Floor
Agriculture House
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1RW

17 August 2023

 

J Harries Refrigeration Limited

(Registration number: 05739442)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

614,508

611,959

Other financial assets

5

12,729

12,729

 

627,237

624,688

Current assets

 

Stocks

6

745,000

750,000

Debtors

7

140,652

166,563

Cash at bank and in hand

 

426,082

471,904

 

1,311,734

1,388,467

Creditors: Amounts falling due within one year

8

(864,024)

(954,905)

Net current assets

 

447,710

433,562

Net assets

 

1,074,947

1,058,250

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

1,074,946

1,058,249

Shareholders' funds

 

1,074,947

1,058,250

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 August 2023
 

.........................................
Mr D Harries
Director

   
     
 

J Harries Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Hill Cottage
Maenclochog
Clynderwen
SA66 7LQ

The principal place of business is:
Hill Cottage
Maenclochog
Clynderwen
SA66 7LQ

These financial statements were authorised for issue by the director on 17 August 2023.

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

Tax

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.

 

J Harries Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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 are stated in the balance sheet 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

Motor vehicles

10% reducing balance

Plant and machinery

10% reducing balance

Office equipment

10% reducing balance

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.

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.

 

J Harries Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2022 - 8).

 

J Harries Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2022

433,808

366,479

11,213

159,631

Additions

-

7,258

15,369

-

At 31 March 2023

433,808

373,737

26,582

159,631

Depreciation

At 1 April 2022

-

260,560

2,130

96,482

Charge for the year

-

11,318

2,445

6,315

At 31 March 2023

-

271,878

4,575

102,797

Carrying amount

At 31 March 2023

433,808

101,859

22,007

56,834

At 31 March 2022

433,808

105,919

9,083

63,149

Total
£

Cost or valuation

At 1 April 2022

971,131

Additions

22,627

At 31 March 2023

993,758

Depreciation

At 1 April 2022

359,172

Charge for the year

20,078

At 31 March 2023

379,250

Carrying amount

At 31 March 2023

614,508

At 31 March 2022

611,959

Included within the net book value of land and buildings above is £433,808 (2022 - £433,808) in respect of freehold land and buildings.
 

 

J Harries Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2022

12,729

12,729

At 31 March 2023

12,729

12,729

Impairment

Carrying amount

At 31 March 2023

12,729

12,729

6

Stocks

2023
£

2022
£

Other inventories

745,000

750,000

7

Debtors

Current

2023
£

2022
£

Trade debtors

140,652

166,563

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

50,953

90,466

Taxation and social security

 

13,080

21,237

Other related parties

 

795,368

816,024

Other creditors

 

2,480

2,256

Corporation tax liability

 

2,143

24,922

 

864,024

954,905

 

J Harries Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

10

Related party transactions

Transactions with the director

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

Mr D Harries

Interest free loan with no fixed repayment term

(816,024)

20,568

(795,456)

       
     

 

2022

At 1 April 2021
£

Repayments by director
£

At 31 March 2022
£

Mr D Harries

Interest free loan with no fixed repayment term

(802,177)

(13,847)

(816,024)