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Company registration number: 13301963
SC Refrigeration Ltd
Unaudited filleted financial statements
30 April 2023
SC Refrigeration Ltd
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
SC Refrigeration Ltd
Statement of financial position
30 April 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 171,362 119,885
_______ _______
171,362 119,885
Current assets
Stocks 85,000 63,804
Debtors 6 72,820 45,297
Cash at bank and in hand 63,133 37,185
_______ _______
220,953 146,286
Creditors: amounts falling due
within one year 7 ( 239,375) ( 187,021)
_______ _______
Net current liabilities ( 18,422) ( 40,735)
_______ _______
Total assets less current liabilities 152,940 79,150
Provisions for liabilities ( 32,344) ( 22,778)
_______ _______
Net assets 120,596 56,372
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 120,586 56,362
_______ _______
Shareholder funds 120,596 56,372
_______ _______
For the year ending 30 April 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 November 2023 , and are signed on behalf of the board by:
Mr Stephen Calvert
Director
Company registration number: 13301963
SC Refrigeration Ltd
Statement of changes in equity
Year ended 30 April 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2021 - - -
Profit for the year 92,862 92,862
_______ _______ _______
Total comprehensive income for the year - 92,862 92,862
Issue of shares 10 10
Dividends paid and payable ( 36,500) ( 36,500)
_______ _______ _______
Total investments by and distributions to owners 10 ( 36,500) ( 36,490)
_______ _______ _______
At 30 April 2022 and 1 May 2022 10 56,362 56,372
Profit for the year 98,724 98,724
_______ _______ _______
Total comprehensive income for the year - 98,724 98,724
Dividends paid and payable ( 34,500) ( 34,500)
_______ _______ _______
Total investments by and distributions to owners - ( 34,500) ( 34,500)
_______ _______ _______
At 30 April 2023 10 120,586 120,596
_______ _______ _______
SC Refrigeration Ltd
Notes to the financial statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Four Columns, Broughton Hall Business Park, Skipton, North Yorkshire, BD23 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
Motor vehicles - 25 % reducing balance
Machinery for hire - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Machinery for hire Total
£ £ £ £ £
Cost
At 1 May 2022 93,778 252 41,999 - 136,029
Additions 14,121 - 72,000 22,543 108,664
Disposals ( 23,282) - ( 13,900) - ( 37,182)
_______ _______ _______ _______ _______
At 30 April 2023 84,617 252 100,099 22,543 207,511
_______ _______ _______ _______ _______
Depreciation
At 1 May 2022 8,217 27 7,900 - 16,144
Charge for the year 11,362 25 10,796 2,254 24,437
Disposals ( 739) - ( 3,693) - ( 4,432)
_______ _______ _______ _______ _______
At 30 April 2023 18,840 52 15,003 2,254 36,149
_______ _______ _______ _______ _______
Carrying amount
At 30 April 2023 65,777 200 85,096 20,289 171,362
_______ _______ _______ _______ _______
At 30 April 2022 85,561 225 34,099 - 119,885
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 55,916 41,754
Other debtors 16,904 3,543
_______ _______
72,820 45,297
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 50,118 20,168
Corporation tax 6,593 9,512
Social security and other taxes 407 -
Other creditors 182,257 157,341
_______ _______
239,375 187,021
_______ _______