Company Registration No. 04195747 (England and Wales)
PURE COLD LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
ACCOUNTS FOR FILING WITH REGISTRAR
PURE COLD LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
PURE COLD LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
31 October 2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
124,877
82,142
Investments
4
18,333
18,333
143,210
100,475
Current assets
Stocks
5
1,207,140
1,798,638
Debtors
6
2,404,949
3,394,246
Cash at bank and in hand
223,786
831,187
3,835,875
6,024,071
Creditors: amounts falling due within one year
7
(1,386,714)
(3,998,006)
Net current assets
2,449,161
2,026,065
Total assets less current liabilities
2,592,371
2,126,540
Creditors: amounts falling due after more than one year
8
(91,667)
(150,000)
Provisions for liabilities
(7,495)
(10,052)
Net assets
2,493,209
1,966,488
Capital and reserves
Called up share capital
9
102,000
102,000
Profit and loss reserves
2,391,209
1,864,488
Total equity
2,493,209
1,966,488

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 November 2024 and are signed on its behalf by:
PM Jolliffe
D Kaplan
Director
Director
Company registration number 04195747 (England and Wales)
PURE COLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Pure Cold Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, 10 Hill Avenue, Amersham, Bucks, England, HP6 5BW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Reporting period

The financial statements are for the 14 month period from 1 November 2022 to 31 December 2023 in order for the year end dates to be consistent across the group. The comparative amounts presented in the financial statements (including related notes) are for the 12 months ended 31 October 2022.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for refrigeration goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% straight line
Fixtures, fittings & equipment
25% straight line
Computer equipment
33% straight line
Motor vehicles
25% straight line
Steventon fixed assets
25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

PURE COLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Stocks

Stocks are stated at the lower of cost and net realisable value. Provision is made for obsolete or slow moving items.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

PURE COLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2023
2022
Number
Number
Total
28
28
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Steventon fixed assets
Total
£
£
£
£
Cost
At 1 November 2022
2,799
221,461
44,684
268,944
Additions
-
0
91,530
-
0
91,530
Disposals
-
0
(2,888)
-
0
(2,888)
At 31 December 2023
2,799
310,103
44,684
357,586
Depreciation and impairment
At 1 November 2022
2,799
168,810
15,193
186,802
Depreciation charged in the Period
-
0
33,420
13,033
46,453
Eliminated in respect of disposals
-
0
(546)
-
0
(546)
At 31 December 2023
2,799
201,684
28,226
232,709
Carrying amount
At 31 December 2023
-
0
108,419
16,458
124,877
At 31 October 2022
-
0
52,651
29,491
82,142
PURE COLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
18,333
18,333
5
Stocks
2023
2022
£
£
Stocks
1,207,140
1,798,638
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
443,087
2,381,933
Amounts owed by group undertakings
1,743,755
804,050
Other debtors
218,107
208,263
2,404,949
3,394,246
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
50,000
50,000
Trade creditors
138,448
553,184
Corporation tax
86,355
81,508
Other taxation and social security
33,090
688,843
Other creditors
1,078,821
2,624,471
1,386,714
3,998,006

Other creditors includes trade finance facilities with HSBC Bank PLC. These amounts are secured by way of a fixed and floating charge over the company's assets.

 

8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
91,667
150,000

Bank loans include a loan from HSBC Bank PLC. These amounts are secured by way of a fixed and floating charge over the company's assets.

PURE COLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 6 -
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100,000
100,000
100,000
100,000
B Shares of £1 each
2,000
2,000
2,000
2,000
102,000
102,000
102,000
102,000
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Paul Windmill
Statutory Auditor:
Myers Clark
11
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
120,525
38,938
12
Prior period adjustment
Reconciliation of changes in equity
1 November
31 October
2021
2022
£
£
Adjustments to prior Period
Overstatement of stock
-
(477,464)
Equity as previously reported
2,703,738
2,443,952
Equity as adjusted
2,703,738
1,966,488
Analysis of the effect upon equity
Profit and loss reserves
-
(477,464)
PURE COLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
12
Prior period adjustment
(Continued)
- 7 -
Reconciliation of changes in profit for the previous financial period
2022
£
Adjustments to prior Period
Overstatement of stock
(477,464)
Profit as previously reported
607,056
Profit as adjusted
129,592
Notes to reconciliation
Prior period adjustment

Since the preparation of the 2022 accounts it was discovered that the company had overstated closing stock and in order to correct this the following entries were made as a prior period adjustment:

 

In respect of the year ended 31 October 2022

 

Cost of sales was increased in respect of the reduction in closing stock.

 

Stock in the balance sheet was reduced to the restated amount.

 

The overall impact is a decrease in profit and total equity of £477,464.

2023-12-312022-11-01false08 November 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedPM JolliffeML IsaacsDavid SwabeyIR GarveyT HarrisJ RowleyDuygu KaplanGeoffrey AmosTamara Harrisfalsefalse28041957472022-11-012023-12-31041957472023-12-31041957472022-10-3104195747core:LandBuildings2023-12-3104195747core:OtherPropertyPlantEquipment2023-12-3104195747core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-12-3104195747core:LandBuildings2022-10-3104195747core:OtherPropertyPlantEquipment2022-10-3104195747core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-10-3104195747core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3104195747core:CurrentFinancialInstrumentscore:WithinOneYear2022-10-3104195747core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3104195747core:Non-currentFinancialInstrumentscore:AfterOneYear2022-10-3104195747core:CurrentFinancialInstruments2023-12-3104195747core:CurrentFinancialInstruments2022-10-3104195747core:ShareCapital2023-12-3104195747core:ShareCapital2022-10-3104195747core:RetainedEarningsAccumulatedLosses2023-12-3104195747core:RetainedEarningsAccumulatedLosses2022-10-3104195747core:ShareCapitalOrdinaryShares2023-12-3104195747core:ShareCapitalOrdinaryShares2022-10-3104195747bus:Director12022-11-012023-12-3104195747bus:Director72022-11-012023-12-3104195747core:PlantMachinery2022-11-012023-12-3104195747core:FurnitureFittings2022-11-012023-12-3104195747core:ComputerEquipment2022-11-012023-12-3104195747core:MotorVehicles2022-11-012023-12-31041957472021-11-012022-10-3104195747core:LandBuildings2022-10-3104195747core:OtherPropertyPlantEquipment2022-10-3104195747core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-10-31041957472022-10-3104195747core:LandBuildings2022-11-012023-12-3104195747core:OtherPropertyPlantEquipment2022-11-012023-12-3104195747core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-11-012023-12-3104195747core:WithinOneYear2023-12-3104195747core:WithinOneYear2022-10-3104195747core:Non-currentFinancialInstruments2023-12-3104195747core:Non-currentFinancialInstruments2022-10-3104195747bus:PrivateLimitedCompanyLtd2022-11-012023-12-3104195747bus:SmallCompaniesRegimeForAccounts2022-11-012023-12-3104195747bus:FRS1022022-11-012023-12-3104195747bus:Audited2022-11-012023-12-3104195747bus:Director22022-11-012023-12-3104195747bus:Director32022-11-012023-12-3104195747bus:Director42022-11-012023-12-3104195747bus:Director52022-11-012023-12-3104195747bus:Director62022-11-012023-12-3104195747bus:Director82022-11-012023-12-3104195747bus:Director92022-11-012023-12-3104195747bus:FullAccounts2022-11-012023-12-31xbrli:purexbrli:sharesiso4217:GBP