R.S. Refrigeration Services Limited 03840938 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is supply and maintenance of refrigeration equipment, air conditioning units and tail lifts. Digita Accounts Production Advanced 6.30.9574.0 true false true 03840938 2023-05-01 2024-04-30 03840938 2024-04-30 03840938 bus:OrdinaryShareClass1 2024-04-30 03840938 core:RetainedEarningsAccumulatedLosses 2024-04-30 03840938 core:ShareCapital 2024-04-30 03840938 core:SharePremium 2024-04-30 03840938 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 03840938 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 03840938 core:CurrentFinancialInstruments 2024-04-30 03840938 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 03840938 core:Non-currentFinancialInstruments 2024-04-30 03840938 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 03840938 core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments 2024-04-30 03840938 core:ProvisionsForImpairmentInvestments 2024-04-30 03840938 core:FurnitureFittings 2024-04-30 03840938 core:MotorVehicles 2024-04-30 03840938 core:PlantMachinery 2024-04-30 03840938 bus:SmallEntities 2023-05-01 2024-04-30 03840938 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03840938 bus:FilletedAccounts 2023-05-01 2024-04-30 03840938 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03840938 bus:RegisteredOffice 2023-05-01 2024-04-30 03840938 bus:Director2 2023-05-01 2024-04-30 03840938 bus:Director3 2023-05-01 2024-04-30 03840938 bus:Director4 2023-05-01 2024-04-30 03840938 bus:Director5 2023-05-01 2024-04-30 03840938 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 03840938 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03840938 core:FurnitureFittings 2023-05-01 2024-04-30 03840938 core:MotorVehicles 2023-05-01 2024-04-30 03840938 core:PlantMachinery 2023-05-01 2024-04-30 03840938 1 2023-05-01 2024-04-30 03840938 countries:England 2023-05-01 2024-04-30 03840938 2023-04-30 03840938 core:CostValuation 2023-04-30 03840938 core:ProvisionsForImpairmentInvestments 2023-04-30 03840938 core:FurnitureFittings 2023-04-30 03840938 core:MotorVehicles 2023-04-30 03840938 core:PlantMachinery 2023-04-30 03840938 2022-05-01 2023-04-30 03840938 2023-04-30 03840938 bus:OrdinaryShareClass1 2023-04-30 03840938 core:RetainedEarningsAccumulatedLosses 2023-04-30 03840938 core:ShareCapital 2023-04-30 03840938 core:SharePremium 2023-04-30 03840938 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 03840938 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 03840938 core:CurrentFinancialInstruments 2023-04-30 03840938 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 03840938 core:Non-currentFinancialInstruments 2023-04-30 03840938 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 03840938 core:FurnitureFittings 2023-04-30 03840938 core:MotorVehicles 2023-04-30 03840938 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03840938

R.S. Refrigeration Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

R.S. Refrigeration Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

R.S. Refrigeration Services Limited

Company Information

Directors

Mr D J Drabble

Mrs EC Drabble

Mr James Drabble

Mr Jonathan Drabble

Registered office

Unit 5
Murrell Green Business Park
London Road
Hook
RG27 9GR

Accountants

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

R.S. Refrigeration Services Limited

(Registration number: 03840938)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

326,801

334,681

Investments

5

72,492

86,991

 

399,293

421,672

Current assets

 

Stocks

6

84,749

175,372

Debtors

7

905,652

454,526

Cash at bank and in hand

 

57,287

89,047

 

1,047,688

718,945

Creditors: Amounts falling due within one year

8

(682,751)

(380,318)

Net current assets

 

364,937

338,627

Total assets less current liabilities

 

764,230

760,299

Creditors: Amounts falling due after more than one year

8

(245,193)

(274,384)

Provisions for liabilities

(81,700)

(63,590)

Net assets

 

437,337

422,325

Capital and reserves

 

Called up share capital

10

100

100

Share premium reserve

84,955

84,955

Retained earnings

352,282

337,270

Shareholders' funds

 

437,337

422,325

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

R.S. Refrigeration Services Limited

(Registration number: 03840938)
Balance Sheet as at 30 April 2024

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 January 2025 and signed on its behalf by:
 

.........................................
Mr D J Drabble
Director

 

R.S. Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 5
Murrell Green Business Park
London Road
Hook
RG27 9GR
England

These financial statements were authorised for issue by the Board on 2 January 2025.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

 

R.S. Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and machinery

25% reducing balnce

Fixtures and fittings

33% reducing balance

Motor vehicles

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

R.S. Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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 profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 profit and loss account 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 profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

R.S. Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 13).

 

R.S. Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

155,199

47,384

499,730

702,313

Additions

1,147

-

87,057

88,204

At 30 April 2024

156,346

47,384

586,787

790,517

Depreciation

At 1 May 2023

111,095

37,370

219,167

367,632

Charge for the year

14,829

2,504

78,751

96,084

At 30 April 2024

125,924

39,874

297,918

463,716

Carrying amount

At 30 April 2024

30,422

7,510

288,869

326,801

At 30 April 2023

44,104

10,014

280,563

334,681

5

Investments

2024
£

2023
£

Investments in subsidiaries

72,492

86,991

Subsidiaries

£

Cost or valuation

At 1 May 2023

289,968

Provision

At 1 May 2023

202,977

Provision

14,499

At 30 April 2024

217,476

Carrying amount

At 30 April 2024

72,492

At 30 April 2023

86,991

6

Stocks

 

R.S. Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Work in progress

13,849

24,072

Other inventories

70,900

151,300

84,749

175,372

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

437,532

213,449

Amounts owed by related parties

-

198,990

Prepayments

 

42,968

37,041

Other debtors

 

425,152

5,046

   

905,652

454,526

 

R.S. Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

192,633

173,727

Trade creditors

 

306,568

65,693

Taxation and social security

 

48,754

52,751

Accruals and deferred income

 

118,151

78,910

Other creditors

 

16,645

9,237

 

682,751

380,318

 

R.S. Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

150,729

274,384

Other non-current financial liabilities

 

94,464

-

 

245,193

274,384

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

35,250

132,251

Hire purchase contracts

115,479

142,133

150,729

274,384

Current loans and borrowings

2024
£

2023
£

Bank borrowings

97,000

97,000

Hire purchase contracts

95,633

76,727

192,633

173,727

 

R.S. Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

11

Parent and ultimate parent undertaking

The company's immediate parent is R S Refrigeration Holdings Limited, incorporated in England.