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Company registration number: 13301963
SC Refrigeration Ltd
Unaudited filleted financial statements
30 April 2024
SC Refrigeration Ltd
Contents
Statement of financial position
Notes to the financial statements
SC Refrigeration Ltd
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 214,564 171,362
_______ _______
214,564 171,362
Current assets
Stocks 58,441 85,000
Debtors 6 22,343 72,820
Cash at bank and in hand 95,733 63,133
_______ _______
176,517 220,953
Creditors: amounts falling due
within one year 7 ( 177,274) ( 239,375)
_______ _______
Net current liabilities ( 757) ( 18,422)
_______ _______
Total assets less current liabilities 213,807 152,940
Provisions for liabilities ( 40,767) ( 32,344)
_______ _______
Net assets 173,040 120,596
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 173,030 120,586
_______ _______
Shareholder funds 173,040 120,596
_______ _______
For the 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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 January 2025 , and are signed on behalf of the board by:
Mr Stephen Calvert
Director
Company registration number: 13301963
SC Refrigeration Ltd
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Four Columns, Broughton Hall Business Park, Skipton, North Yorkshire, BD23 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
Motor vehicles - 25 % reducing balance
Machinery for hire - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Machinery for hire Total
£ £ £ £ £
Cost
At 1 May 2023 84,617 252 100,099 22,543 207,511
Additions 44,586 - 36,500 - 81,086
_______ _______ _______ _______ _______
At 30 April 2024 129,203 252 136,599 22,543 288,597
_______ _______ _______ _______ _______
Depreciation
At 1 May 2023 18,840 52 15,003 2,254 36,149
Charge for the year 14,331 25 21,274 2,254 37,884
_______ _______ _______ _______ _______
At 30 April 2024 33,171 77 36,277 4,508 74,033
_______ _______ _______ _______ _______
Carrying amount
At 30 April 2024 96,032 175 100,322 18,035 214,564
_______ _______ _______ _______ _______
At 30 April 2023 65,777 200 85,096 20,289 171,362
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 12,608 55,916
Other debtors 9,735 16,904
_______ _______
22,343 72,820
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 63,210 50,118
Corporation tax 13,686 6,593
Social security and other taxes - 407
Other creditors 100,378 182,257
_______ _______
177,274 239,375
_______ _______