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COMPANY REGISTRATION NUMBER: 01313402
LUNAR REFRIGERATION LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 April 2024
LUNAR REFRIGERATION LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
5
122,953
79,375
CURRENT ASSETS
Stocks
79,092
168,020
Debtors
6
369,478
221,145
Cash at bank and in hand
410,908
247,855
-----------
-----------
859,478
637,020
CREDITORS: amounts falling due within one year
7
376,264
336,770
-----------
-----------
NET CURRENT ASSETS
483,214
300,250
-----------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
606,167
379,625
CREDITORS: amounts falling due after more than one year
8
3,000
7,000
-----------
-----------
NET ASSETS
603,167
372,625
-----------
-----------
CAPITAL AND RESERVES
Called up share capital
102
102
Profit and loss account
603,065
372,523
-----------
-----------
SHAREHOLDERS FUNDS
603,167
372,625
-----------
-----------
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 income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LUNAR REFRIGERATION LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mr I Pinington
Mr I Sibbert
Director
Director
Company registration number: 01313402
LUNAR REFRIGERATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 5 Forestgate, White Lund Industrial Estate, Morecambe, LA3 3PD.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Leasehold Property and Improvements
-
straight line over eighty years
Trailer
-
25% straight line
Motor Vehicles
-
25% reducing balance
Equipment
-
25 % straight line
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 stock to its present location and condition.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 20 (2023: 18 ).
5. TANGIBLE ASSETS
Leasehold property and improve- ments
Trailer
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 May 2023
41,424
6,795
131,670
72,784
252,673
Additions
76,932
2,042
78,974
Disposals
( 22,294)
( 700)
( 22,994)
---------
--------
-----------
---------
-----------
At 30 April 2024
41,424
6,795
186,308
74,126
308,653
---------
--------
-----------
---------
-----------
Depreciation
At 1 May 2023
12,259
6,795
84,691
69,553
173,298
Charge for the year
511
30,350
1,674
32,535
Disposals
( 19,783)
( 350)
( 20,133)
---------
--------
-----------
---------
-----------
At 30 April 2024
12,770
6,795
95,258
70,877
185,700
---------
--------
-----------
---------
-----------
Carrying amount
At 30 April 2024
28,654
91,050
3,249
122,953
---------
--------
-----------
---------
-----------
At 30 April 2023
29,165
46,979
3,231
79,375
---------
--------
-----------
---------
-----------
6. DEBTORS
2024
2023
£
£
Trade debtors
351,389
212,720
Prepayments and accrued income
18,089
8,425
-----------
-----------
369,478
221,145
-----------
-----------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,000
4,000
Trade creditors
81,437
91,829
Accruals and deferred income
7,280
11,379
Corporation tax
110,992
64,276
Social security and other taxes
57,915
40,994
Shares classed as financial liabilities
29,311
29,311
Other creditors
85,329
94,981
-----------
-----------
376,264
336,770
-----------
-----------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,000
7,000
--------
--------