REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
SPX Refrigeration & Engineering Services |
Ltd |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
SPX Refrigeration & Engineering Services |
Ltd |
SPX Refrigeration & Engineering Services |
Ltd (Registered number: 07173173) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 April 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 8 |
SPX Refrigeration & Engineering Services |
Ltd |
COMPANY INFORMATION |
for the year ended 30 April 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
129 North Hill |
Plymouth |
Devon |
PL4 8JY |
SPX Refrigeration & Engineering Services |
Ltd (Registered number: 07173173) |
BALANCE SHEET |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | 10 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
Shareholders' funds |
SPX Refrigeration & Engineering Services |
Ltd (Registered number: 07173173) |
BALANCE SHEET - continued |
30 April 2023 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
SPX Refrigeration & Engineering Services |
Ltd (Registered number: 07173173) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 April 2023 |
1. | STATUTORY INFORMATION |
SPX Refrigeration & Engineering Services Ltd 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. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts invoiced in respect of goods and services, net of value added tax. Turnover is recognised on completion of the services and installation of goods. |
Goodwill |
Goodwill is being written off in equal instalments over the director's estimate of its useful economic life of between 5 and 10 years. |
Tangible fixed assets |
Depreciation is calculated to write down the cost of tangible fixed assets over their expected useful economic lives using the following rates: |
Plant and machinery - 25% reducing balance |
Motor vehicles - 25% reducing balance |
Office space - over 20 years on a straight line basis |
Stocks |
Stock is valued at the lower of cost and net realisable value. The cost of raw materials is determined according to the actual cost and net realisable value calculated as the selling price of stock less all associated costs of sale. |
Taxation |
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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. |
SPX Refrigeration & Engineering Services |
Ltd (Registered number: 07173173) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts |
Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
Provisions |
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
Cost |
At 1 May 2022 |
and 30 April 2023 |
Amortisation |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
Net book value |
At 30 April 2023 |
At 30 April 2022 |
SPX Refrigeration & Engineering Services |
Ltd (Registered number: 07173173) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Office |
machinery | vehicles | space | Totals |
£ | £ | £ | £ |
Cost |
At 1 May 2022 |
Additions |
At 30 April 2023 |
Depreciation |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
Net book value |
At 30 April 2023 |
At 30 April 2022 |
Included in tangible fixed assets are assets with a net book value of £132,965 (2022 £126,202) that are subject to hire purchase finance. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
SPX Refrigeration & Engineering Services |
Ltd (Registered number: 07173173) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Other creditors |
9. | SECURED DEBTS |
Creditors include the following sums in respect of secured debts under hire purchase or finance lease arrangements: |
* Amounts due within one year £35,455 (2022 £30,217) |
* Amounts due over more than one year £71,204 (2022 £80,278) |
These amounts are secured on the relevant assets. |
10. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 35,000 | 35,000 |
Deferred |
tax |
£ |
Balance at 1 May 2022 |
Balance at 30 April 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Ordinary A | £1 | 1 | 1 |
Ordinary B | £1 | 1 | 1 |
102 | 102 |
SPX Refrigeration & Engineering Services |
Ltd (Registered number: 07173173) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2023 |
12. | RELATED PARTY TRANSACTIONS |
At the balance sheet date the directors and related parties were owed/(owed) the following sums: |
Loan account Current account |
Mr P Creed | - | (8,057 | ) |
Mrs J Creed | - | (8,056 | ) |
Miss I Creed | - | 1,494 |
Miss K Creed | - | 3,608 |
Miss R Creed | - | 4,000 |
Miss D Creed | - | 302 |
All amounts are payable /(repayable) on demand and no interest is charged on outstanding sums. |