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REGISTERED NUMBER: 07173173 (England and Wales)















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: P Creed
Mrs J Creed





Registered office: Rosemary Cottage
Palstone Lane
South Brent
Devon
TQ10 9JR





Registered number: 07173173 (England and Wales)





Accountants: Nigel Webster & Co
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 25,666 34,222
Tangible assets 5 198,157 200,609
223,823 234,831

Current assets
Stocks 48,144 18,200
Debtors 6 232,577 245,746
Cash at bank and in hand 137,402 90,452
418,123 354,398
Creditors
Amounts falling due within one year 7 199,713 129,695
Net current assets 218,410 224,703
Total assets less current liabilities 442,233 459,534

Creditors
Amounts falling due after more than
one year

8

(116,832

)

(159,453

)

Provisions for liabilities 10 (35,000 ) (35,000 )
Net assets 290,401 265,081

Capital and reserves
Called up share capital 11 102 102
Retained earnings 290,299 264,979
Shareholders' funds 290,401 265,081

SPX Refrigeration & Engineering Services
Ltd (Registered number: 07173173)

BALANCE SHEET - continued
30 April 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





Mrs J Creed - Director


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

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 12 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 May 2022
and 30 April 2023 92,778
Amortisation
At 1 May 2022 58,556
Charge for year 8,556
At 30 April 2023 67,112
Net book value
At 30 April 2023 25,666
At 30 April 2022 34,222

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 51,629 203,642 17,158 272,429
Additions 8,228 33,345 - 41,573
At 30 April 2023 59,857 236,987 17,158 314,002
Depreciation
At 1 May 2022 28,377 42,585 858 71,820
Charge for year 7,871 35,296 858 44,025
At 30 April 2023 36,248 77,881 1,716 115,845
Net book value
At 30 April 2023 23,609 159,106 15,442 198,157
At 30 April 2022 23,252 161,057 16,300 200,609

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 198,462 215,374
Other debtors 34,115 30,372
232,577 245,746

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,996 10,200
Trade creditors 42,536 37,686
Taxation and social security 72,439 9,635
Other creditors 74,742 72,174
199,713 129,695

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 25,837 35,633
Other creditors 90,995 123,820
116,832 159,453

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 35,000
Balance at 30 April 2023 35,000

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
1 Ordinary A £1 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.