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REGISTERED NUMBER: 04662916 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SUBZERO (2003) LIMITED

SUBZERO (2003) LIMITED (REGISTERED NUMBER: 04662916)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

SUBZERO (2003) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: G D Tomkins
S Williams
D E Williams





SECRETARY: S Williams





REGISTERED OFFICE: Russell House
140 High Street
Edgware
Middlesex
HA8 7LW





REGISTERED NUMBER: 04662916 (England and Wales)





ACCOUNTANTS: MGR Paris Limited
Chartered Accountants
Russell House
140 High Street
Edgware
HA8 7LW

SUBZERO (2003) LIMITED (REGISTERED NUMBER: 04662916)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 688,212 805,303

CURRENT ASSETS
Stocks 2,231 1,719
Debtors 5 471,169 507,976
Cash at bank and in hand 184,840 100,624
658,240 610,319
CREDITORS
Amounts falling due within one year 6 (630,865 ) (525,271 )
NET CURRENT ASSETS 27,375 85,048
TOTAL ASSETS LESS CURRENT LIABILITIES 715,587 890,351

CREDITORS
Amounts falling due after more than one
year

7

(221,914

)

(368,060

)

PROVISIONS FOR LIABILITIES 9 (55,997 ) (60,906 )
NET ASSETS 437,676 461,385

CAPITAL AND RESERVES
Called up share capital 10 100 1
Retained earnings 11 437,576 461,384
SHAREHOLDERS' FUNDS 437,676 461,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

SUBZERO (2003) LIMITED (REGISTERED NUMBER: 04662916)

BALANCE SHEET - continued
31 MAY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:





S Williams - Director


SUBZERO (2003) LIMITED (REGISTERED NUMBER: 04662916)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Subzero (2003) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Income Statement, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SUBZERO (2003) LIMITED (REGISTERED NUMBER: 04662916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 32,753 926,004 80,612
Additions - 7,373 -
At 31 May 2024 32,753 933,377 80,612
DEPRECIATION
At 1 June 2023 27,024 253,099 44,675
Charge for year 3,011 78,273 8,852
At 31 May 2024 30,035 331,372 53,527
NET BOOK VALUE
At 31 May 2024 2,718 602,005 27,085
At 31 May 2023 5,729 672,905 35,937

SUBZERO (2003) LIMITED (REGISTERED NUMBER: 04662916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 207,640 107,190 1,354,199
Additions 863 - 8,236
At 31 May 2024 208,503 107,190 1,362,435
DEPRECIATION
At 1 June 2023 154,952 69,146 548,896
Charge for year 26,008 9,183 125,327
At 31 May 2024 180,960 78,329 674,223
NET BOOK VALUE
At 31 May 2024 27,543 28,861 688,212
At 31 May 2023 52,688 38,044 805,303

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 224,801 278,310
Other debtors 246,368 229,666
471,169 507,976

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts (see note 8) 130,000 130,000
Hire purchase contracts 16,147 16,147
Trade creditors 214,583 171,073
Taxation and social security 24,714 34,978
Other creditors 245,421 173,073
630,865 525,271

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 8) 195,001 325,000
Hire purchase contracts 26,913 43,060
221,914 368,060

SUBZERO (2003) LIMITED (REGISTERED NUMBER: 04662916)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 130,000 130,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 119,167 130,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 75,834 195,000

9. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 55,997 60,906

Deferred
tax
£   
Balance at 1 June 2023 60,906
Provided during year (4,909 )
Balance at 31 May 2024 55,997

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
10 Ordinary 10p 10p 100 1

11. RESERVES
Retained
earnings
£   

At 1 June 2023 461,384
Deficit for the year (23,808 )
At 31 May 2024 437,576

12. RELATED PARTY DISCLOSURES

During the year, a director repaid £15,832 of a loan back to the company.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SUBZERO (2003) LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Subzero (2003) Limited for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Subzero (2003) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Subzero (2003) Limited and state those matters that we have agreed to state to the Board of Directors of Subzero (2003) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Subzero (2003) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Subzero (2003) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Subzero (2003) Limited. You consider that Subzero (2003) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Subzero (2003) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






MGR Paris Limited
Chartered Accountants
Russell House
140 High Street
Edgware
HA8 7LW


18 November 2024