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REGISTERED NUMBER: 07173173 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

SPX Refrigeration & Engineering Services
Ltd

SPX Refrigeration & Engineering Services
Ltd (Registered number: 07173173)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


SPX Refrigeration & Engineering Services
Ltd

COMPANY INFORMATION
for the year ended 30 April 2024







Directors: P Creed
Mrs J Creed





Registered office: Rosemary Cottage
Palstone Lane
South Brent
Devon
TQ10 9JR





Business address: Rosemary Cottage
Palstone Lane
South Brent
Devon
TQ10 9JR





Registered number: 07173173 (England and Wales)





Accountants: Websters
129 North Hill
Plymouth
Devon
PL4 8JY

SPX Refrigeration & Engineering Services
Ltd (Registered number: 07173173)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 17,110 25,666
Tangible assets 5 199,776 198,157
216,886 223,823

Current assets
Stocks 15,000 48,144
Debtors 6 224,003 232,577
Cash at bank and in hand 124,035 137,402
363,038 418,123
Creditors
Amounts falling due within one year 7 222,390 199,713
Net current assets 140,648 218,410
Total assets less current liabilities 357,534 442,233

Creditors
Amounts falling due after more than
one year

8

(62,787

)

(116,832

)

Provisions for liabilities 11 (46,000 ) (35,000 )
Net assets 248,747 290,401

Capital and reserves
Called up share capital 12 102 102
Retained earnings 248,645 290,299
Shareholders' funds 248,747 290,401

SPX Refrigeration & Engineering Services
Ltd (Registered number: 07173173)

BALANCE SHEET - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Profit and loss account has not been delivered.

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





Mrs J Creed - Director


SPX Refrigeration & Engineering Services
Ltd (Registered number: 07173173)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

SPX Refrigeration & Engineering Services Ltd 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.

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 represents amounts invoiced in respect of goods and services, net of value added tax. Turnover is recognised on completion of the services and installation of goods.

Goodwill
Goodwill is being written off in equal instalments over the director's estimate of its useful economic life of between 5 and 10 years.

Tangible fixed assets
Depreciation is calculated to write down the cost of tangible fixed assets over their expected useful economic lives using the following rates:

Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance
Office space - over 20 years on a straight line basis

Stocks
Stock is valued at the lower of cost and net realisable value. The cost of raw materials is determined according to the actual cost and net realisable value calculated as the selling price of stock less all associated costs of sale.

Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

SPX Refrigeration & Engineering Services
Ltd (Registered number: 07173173)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 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
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 May 2023
and 30 April 2024 92,778
Amortisation
At 1 May 2023 67,112
Charge for year 8,556
At 30 April 2024 75,668
Net book value
At 30 April 2024 17,110
At 30 April 2023 25,666

SPX Refrigeration & Engineering Services
Ltd (Registered number: 07173173)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles space Totals
£    £    £    £   
Cost
At 1 May 2023 59,857 236,987 17,158 314,002
Additions 3,256 57,115 695 61,066
Disposals - (41,324 ) - (41,324 )
At 30 April 2024 63,113 252,778 17,853 333,744
Depreciation
At 1 May 2023 36,248 77,881 1,716 115,845
Charge for year 6,077 26,649 893 33,619
Eliminated on disposal - (15,496 ) - (15,496 )
At 30 April 2024 42,325 89,034 2,609 133,968
Net book value
At 30 April 2024 20,788 163,744 15,244 199,776
At 30 April 2023 23,609 159,106 15,442 198,157

Included in tangible fixed assets are assets with a net book value of £133,754 (2023 £132,965) that are subject to hire purchase finance.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 169,677 198,462
Other debtors 54,326 34,115
224,003 232,577

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,560 9,996
Hire purchase contracts (see note 9)
32,144

35,455
Trade creditors 45,744 42,536
Taxation and social security 86,056 72,439
Other creditors 47,886 39,287
222,390 199,713

SPX Refrigeration & Engineering Services
Ltd (Registered number: 07173173)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 15,273 25,837
Hire purchase contracts (see note 9)
47,514

71,204
Other creditors - 19,791
62,787 116,832

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 32,144 35,455
Between one and five years 47,514 71,204
79,658 106,659

10. SECURED DEBTS

Creditors include the following sums in respect of secured debts under hire purchase or finance lease arrangements:

* Amounts due within one year £32,144 (2023 £35,455)
* Amounts due over more than one year £47,514 (2023 £71,204)


These amounts are secured on the relevant assets.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 46,000 35,000

Deferred
tax
£   
Balance at 1 May 2023 35,000
Provided during year 11,000
Balance at 30 April 2024 46,000

SPX Refrigeration & Engineering Services
Ltd (Registered number: 07173173)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
102 102

13. RELATED PARTY TRANSACTIONS

At the balance sheet date the directors and related parties were owed/(owed) the following sums:
Loan account Current account
Mr P Creed - £(9,400 )
Mrs J Creed - £(9,399 )
Miss I Creed - £2,013
Miss K Creed - £4,522
Miss R Creed - £5,520
Miss D Creed £(30,000 ) £1,822

All amounts are payable /(repayable) on demand and no interest is charged on outstanding sums.