Registration number:
Freezertech Limited
for the Year Ended 31 December 2023
Freezertech Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Freezertech Limited
Company Information
Director |
C Frees |
Registered office |
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Auditors |
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Freezertech Limited
(Registration number: 06721857)
Balance Sheet as at 31 December 2023
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2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Freezertech Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The Company is a private company limited by share capital, incorporated in England and the company registration number is 06721857.
The address of its registered office is:
The principal place of business is:
Unit 2
Humberston Business Centre
Jackson Place
Humberston
DN36 4AS
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
These financial statements cover the individual entity, Freezertech Limited.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest pound.
Disclosure of long or short period
The comparative accounting period of the company is the 15 months ended 31 December 2022. This was extended to coincide with that of the parent company and other members of the group. Current year amounts relate to a standard 12 month period.
Audit report
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Going concern
As noted in the Directors Report, the trade of the company will continue in the parent, DSI Dantech, as of 31 August 2024. The directors are of the opinion that the going concern basis is no longer appropriate in preparing these financial statements. This has had no impact on the carrying value of assets and liabilities in the Company.
Freezertech Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Government grants
Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Motor vehicles |
20% straight line |
Office equipment |
20% straight line |
Freezertech Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Plant and machinery |
15% straight line |
Land and buildings |
2% straight line |
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business
combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less
accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Computer software |
20% straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the statement of income and retained earnings
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of income and retained earnings over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the statement of income and retained earnings and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Freezertech Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Staff numbers |
The average number of persons employed by the Company (including the Director) during the year, was
Other operating income |
Included within the accounts is £1,063 (2022: £1,484) received from the Government as part of a fixed asset grant.
Intangible assets |
Computer Software Intangible |
Total |
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Cost or valuation |
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At 1 January 2023 |
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At 31 December 2023 |
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Amortisation |
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At 1 January 2023 |
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Amortisation charge |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Freezertech Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Land and buildings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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- |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Included within the net book value of land and buildings above is £327,719 (2022 - £335,675) in respect of freehold land and buildings.
Stocks |
2023 |
2022 |
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Raw materials and consumables |
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Finished goods and goods for resale |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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Freezertech Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Creditors |
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
- |
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Trade creditors |
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Amounts owed to Company undertakings and undertakings in which the Company has a participating interest |
- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
- |
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Deferred income |
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Freezertech Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
- |
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2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
- |
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HP and finance leases |
- |
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Secured creditors
Included within bank borrowings are secured liabilities totalling £Nil (2022: £51,411). These are secured by a fixed and floating charge over the properties at Units 2 and 9 Humberston Business Centre, Jackson Place, Humberston, Grimsby.
Included within HP and finance leases are secured liabilities totalling £Nil (2022: £4,733). These are secured against the assets to which they relate.
The aggregate amount of secured liabilities total £Nil (2022: £56,144).
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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16 |
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16 |
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1 |
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1 |
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1 |
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1 |
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Freezertech Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Financial commitments, guarantees and contingencies |
Defined contribution pension scheme
Included within other creditors are amounts relating to unpaid pension contributions which total £3,349 (2022: £3,139).
Related party transactions |
Directors' and key management compensation
2023 |
2022 |
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Salaries and other short term employee benefits |
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Exemption from disclosing related party transactions
The company has taken advantage of the exemption in section 33 of FRS102 "Related Party Disclosures" from disclosing transactions with other members of the group where each member party to the transaction is wholly owned by the group.
Freezertech Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Parent and ultimate parent undertaking
Consolidated financial statements for the group, which is the largest and smallest group of undertakings for which group accounts have been drawn up, are available from Carsoe A/S, Mineralvej6, 9220 Aalborg, Denmark.
As of 30 December 2023 the company's immediate parent is DSI Dantech A/S, incorporated in the European country Denmark. Consolidated financial statements for the group are available from DSI Dantech A/S, Parkvej 5, DK-9352, Dybvad, Denmark.
DSI Dantech is the company's controlling related party by the virtue of its 100% interest in the company.
Related party transactions
Expenditure with and payables to related parties
2023 |
Other related parties |
Purchase of goods |
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Amounts payable to related party |
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2022 |
Other related parties |
Purchase of goods |
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