Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3147true492023-04-01falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03313355 2023-04-01 2024-03-31 03313355 2022-04-01 2023-03-31 03313355 2024-03-31 03313355 2023-03-31 03313355 c:Director1 2023-04-01 2024-03-31 03313355 d:Buildings 2023-04-01 2024-03-31 03313355 d:Buildings 2024-03-31 03313355 d:Buildings 2023-03-31 03313355 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03313355 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 03313355 d:Buildings d:LongLeaseholdAssets 2024-03-31 03313355 d:Buildings d:LongLeaseholdAssets 2023-03-31 03313355 d:PlantMachinery 2023-04-01 2024-03-31 03313355 d:PlantMachinery 2024-03-31 03313355 d:PlantMachinery 2023-03-31 03313355 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03313355 d:MotorVehicles 2023-04-01 2024-03-31 03313355 d:MotorVehicles 2024-03-31 03313355 d:MotorVehicles 2023-03-31 03313355 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03313355 d:FurnitureFittings 2023-04-01 2024-03-31 03313355 d:FurnitureFittings 2024-03-31 03313355 d:FurnitureFittings 2023-03-31 03313355 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03313355 d:OfficeEquipment 2023-04-01 2024-03-31 03313355 d:OfficeEquipment 2024-03-31 03313355 d:OfficeEquipment 2023-03-31 03313355 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03313355 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 03313355 d:OtherPropertyPlantEquipment 2024-03-31 03313355 d:OtherPropertyPlantEquipment 2023-03-31 03313355 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03313355 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03313355 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 03313355 d:ComputerSoftware 2024-03-31 03313355 d:ComputerSoftware 2023-03-31 03313355 d:CurrentFinancialInstruments 2024-03-31 03313355 d:CurrentFinancialInstruments 2023-03-31 03313355 d:Non-currentFinancialInstruments 2024-03-31 03313355 d:Non-currentFinancialInstruments 2023-03-31 03313355 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03313355 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03313355 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03313355 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03313355 d:ShareCapital 2024-03-31 03313355 d:ShareCapital 2023-03-31 03313355 d:RetainedEarningsAccumulatedLosses 2024-03-31 03313355 d:RetainedEarningsAccumulatedLosses 2023-03-31 03313355 c:FRS102 2023-04-01 2024-03-31 03313355 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03313355 c:FullAccounts 2023-04-01 2024-03-31 03313355 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03313355 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 03313355 2 2023-04-01 2024-03-31 03313355 d:ComputerSoftware d:OwnedIntangibleAssets 2023-04-01 2024-03-31 03313355 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered Number:03313355













SCANDIA REFRIGERATION LIMITED




UNAUDITED

FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024











 
SCANDIA REFRIGERATION LIMITED
 

 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SCANDIA REFRIGERATION LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Scandia Refrigeration Limited for the year ended 31 March 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Scandia Refrigeration Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Scandia Refrigeration Limited and state those matters that we have agreed to state to the Board of Directors of Scandia Refrigeration Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scandia Refrigeration Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Scandia Refrigeration 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 profit of Scandia Refrigeration Limited. You consider that Scandia Refrigeration Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of. 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.

  



Scrutton Bland Limited
 
Accountants
  
820 The Crescent
Colchester Business Park
Colchester
Essex
CO4 9YQ
14 November 2024

- 1 -



 
SCANDIA REFRIGERATION LIMITED
REGISTERED NUMBER:03313355


BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,042
-

Tangible assets
 5 
3,226,604
1,313,168

  
3,228,646
1,313,168

Current assets
  

Stocks
  
501,643
410,653

Debtors: amounts falling due within one year
 6 
601,917
1,842,885

Cash at bank and in hand
  
1,842,834
513,862

  
2,946,394
2,767,400

Creditors: amounts falling due within one year
 7 
(2,356,463)
(961,247)

Net current assets
  
 
 
589,931
 
 
1,806,153

Total assets less current liabilities
  
3,818,577
3,119,321

Creditors: amounts falling due after more than one year
 8 
-
(500,000)

Provisions for liabilities
  

Deferred tax
  
(247,745)
(232,854)

  
 
 
(247,745)
 
 
(232,854)

Net assets
  
3,570,832
2,386,467


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
3,570,732
2,386,367

  
3,570,832
2,386,467



- 2 -



 
SCANDIA REFRIGERATION LIMITED
REGISTERED NUMBER:03313355

    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 November 2024.




D C Mockford
Director

The notes on pages 4 to 11 form part of these financial statements.


- 3 -



 
SCANDIA REFRIGERATION LIMITED
 

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

1.


General information

Scandia Refrigeration Limited is a private company limited bt share capital, incorporated in England and Wales, registration number 03313355. The address of the registered office is 5 Davy Road, Clacton on Sea, Essex, CO15 4XD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors' are satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future, and for a period of at least 12 months from date of approving these financial statements. 
For this reason the directors' has adopted the going concern basis in preparing the accounts.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounding to £1.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.


- 4 -



 
SCANDIA REFRIGERATION LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.


- 5 -



 
SCANDIA REFRIGERATION LIMITED
 

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

2.Accounting policies (continued)

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


- 6 -



 
SCANDIA REFRIGERATION LIMITED
 

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

2.Accounting policies (continued)

 
2.13

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Computer software
-
25%
straight line

 
2.14

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using straight-line method and reducing balance basis,.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10%
straight line
Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Office equipment
-
33%
straight line
Other fixed assets
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.15

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


- 7 -



 
SCANDIA REFRIGERATION LIMITED
 

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

3.


Employees

The average monthly number of employees, including directors, during the year was 47 (2023 - 49).


4.


Intangible assets




Computer software

£



Cost


At 1 April 2023
28,280


Additions
2,450



At 31 March 2024

30,730



Amortisation


At 1 April 2023
28,280


Charge for the year on owned assets
408



At 31 March 2024

28,688



Net book value



At 31 March 2024
2,042



At 31 March 2023
-




- 8 -




 
SCANDIA REFRIGERATION LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS 
 
FOR THE YEAR ENDED 31 MARCH 2024



5.


Tangible fixed assets






Freehold property
Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Other fixed assets
Total

£
£
£
£
£
£
£
£



Cost or valuation


At 1 April 2023
-
51,726
1,626,486
750,397
37,458
63,006
116,114
2,645,187


Additions
1,860,004
-
153,503
201,342
174
1,710
403
2,217,136


Disposals
-
-
-
(121,218)
-
-
(3,923)
(125,141)



At 31 March 2024

1,860,004
51,726
1,779,989
830,521
37,632
64,716
112,594
4,737,182



Depreciation


At 1 April 2023
-
33,345
815,214
330,378
24,220
60,201
68,661
1,332,019


Charge for the year
-
5,173
123,802
108,302
1,992
2,611
6,748
248,628


Disposals
-
-
-
(68,986)
-
-
(1,083)
(70,069)



At 31 March 2024

-
38,518
939,016
369,694
26,212
62,812
74,326
1,510,578



Net book value



At 31 March 2024
1,860,004
13,208
840,973
460,827
11,420
1,904
38,268
3,226,604



At 31 March 2023
-
18,381
811,272
420,019
13,238
2,805
47,453
1,313,168

- 9 - 


 
SCANDIA REFRIGERATION LIMITED
 

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

6.


Debtors

2024
2023
£
£


Trade debtors
557,560
761,867

Other debtors
35,558
1,073,099

Prepayments and accrued income
8,799
7,919

601,917
1,842,885



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
596
306

Trade creditors
751,641
596,687

Corporation tax
382,475
2,867

Other taxation and social security
62,673
41,257

Other creditors
1,027,328
205,877

Accruals and deferred income
131,750
114,253

2,356,463
961,247



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
500,000

-
500,000


Bank loans were taken out as part of the Coronavirus Business Interruption Loan Scheme and were fully repaid within the year.


- 10 -



 
SCANDIA REFRIGERATION LIMITED
 

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

9.


Related party transactions

The company paid rent of £112,400 (2023: £112,400) during the year to Suffolk Pads Limited, a company under common control. At the year end the company was owed £nil (2023: £1,048,952) by Suffolk Pads Limited. At the year end the company owed Suffolk Pads Limited £863,448 (2023: £nil).
Mr D C Mockford
The balance at 1 April 2023 for Mr D C Mockford's loan account was £72,451. The repayments and amounts drawn within the year totalled £51,032, and the amounts introduced during the year totalled £nil (2023 : £nil), leaving a balance of £21,419 at the year end. 
The directors loan accrues interest at 10% per annum when the balance is an amount owing to the director. The net interest payable to Mr D C Mockford for the year totalled £4,230 (2023 : £5,211),
Mrs P Mockford
The balance at 1 April 2023 and 2024 for Mrs P Mockford's loan account was £52,289. The repayments and amounts drawn within the year totalled £50,000, and the  amounts introduced during the year totalled £nil (2024 : £nil), leaving a balance of £2,289 at the year end.
The directors loan accrues interest at 10% per annum when the balance is an amount owing to the director. The net interest payable to Mrs P Mockford for the year totalled £3,196 (2023 : £3,574),
Mr A Mockford
The balance at 1 April 2023 for Mr A Mockford's loan account was £40,400. The amounts introduced during the year totalled £nil (2023 : £20,000), leaving a balance of £40,400 at the year end.
The directors loan accrues interest at 10% per annum when the balance is an amount owing to the director. The net interest payable to Mr A Mockford for the year totalled £3,232 (2023 : £2,140),
Mr S Mockford
The balance at 1 April 2023 for Mr S Mockford's loan account was £25,000. The amounts introduced during the year totalled £60,000 (2023 : £25,000), leaving a balance of £85,000 at the year end.
The directors loan accrues interest at 10% per annum when the balance is an amount owing to the director. The net interest payable to Mr S Mockford for the year totalled £3,538 (2023 : £636).

 

- 11 -