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REGISTERED NUMBER: SC272297 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

North East Transport Refrigeration
Services Ltd.

North East Transport Refrigeration
Services Ltd. (Registered number: SC272297)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


North East Transport Refrigeration
Services Ltd.

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr W T Richardson
Mrs S Richardson





REGISTERED OFFICE: 10 Collieburn Crescent
Peterhead
Aberdeenshire
AB42 1LW





REGISTERED NUMBER: SC272297 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

North East Transport Refrigeration
Services Ltd. (Registered number: SC272297)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 16,933 21,231
16,933 21,231

CURRENT ASSETS
Stocks 14,150 17,300
Debtors 6 75,619 53,200
Cash at bank 287,996 239,389
377,765 309,889
CREDITORS
Amounts falling due within one year 7 110,046 83,341
NET CURRENT ASSETS 267,719 226,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

284,652

247,779

CREDITORS
Amounts falling due after more than one
year

8

(20,000

)

(30,000

)

PROVISIONS FOR LIABILITIES 9 (3,217 ) (4,034 )
NET ASSETS 261,435 213,745

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 261,433 213,743
SHAREHOLDERS' FUNDS 261,435 213,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

North East Transport Refrigeration
Services Ltd. (Registered number: SC272297)

Balance Sheet - continued
31 October 2023


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 8 February 2024 and were signed on its behalf by:





Mr W T Richardson - Director


North East Transport Refrigeration
Services Ltd. (Registered number: SC272297)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

North East Transport Refrigeration Services Ltd. is a private company, limited by shares , registered in Scotland. 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 receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Goodwill
Goodwill, being an amount paid in connection with the acquisition of a business in 2004, was amortised evenly over its estimated useful life of 10 years and is now fully written down.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


North East Transport Refrigeration
Services Ltd. (Registered number: SC272297)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 98,500
AMORTISATION
At 1 November 2022
and 31 October 2023 98,500
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

North East Transport Refrigeration
Services Ltd. (Registered number: SC272297)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 9,860 1,448 39,155 1,748 52,211
Additions 697 - - - 697
At 31 October 2023 10,557 1,448 39,155 1,748 52,908
DEPRECIATION
At 1 November 2022 6,269 290 22,673 1,748 30,980
Charge for year 643 231 4,121 - 4,995
At 31 October 2023 6,912 521 26,794 1,748 35,975
NET BOOK VALUE
At 31 October 2023 3,645 927 12,361 - 16,933
At 31 October 2022 3,591 1,158 16,482 - 21,231

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 72,117 49,814
Other debtors 3,502 3,386
75,619 53,200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 13,499 4,032
Taxation and social security 49,572 30,988
Other creditors 46,975 48,321
110,046 83,341

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Other creditors 20,000 30,000

9. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 3,217 4,034

North East Transport Refrigeration
Services Ltd. (Registered number: SC272297)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2022 4,034
Provided during year (817 )
Balance at 31 October 2023 3,217

10. RELATED PARTY DISCLOSURES

The two directors operate current accounts with the company and as at 31 October 2023 the combined balance owing to them was £33,986 (2022: £34,523). There are no fixed terms of repayment and no interest is accrued on the balance due to them. During the course of the financial year the director, Mr W.Richardson, had a loan balance of £127,047 owing to the company which was repaid in full before the financial year end. Interest on the loan was charged by the company at HMRC official rates which totalled £1,791 for the loan period.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who between them own 100% of the issued share capital.