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Company No: 09780033 (England and Wales)

STYNE INDUSTRIAL REFRIGERATION LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

STYNE INDUSTRIAL REFRIGERATION LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

STYNE INDUSTRIAL REFRIGERATION LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
STYNE INDUSTRIAL REFRIGERATION LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Deborah Brown
Mark Julian Debenham
Maxwell David Horslen
Clive Richard Thornley
REGISTERED OFFICE Falcon Hall Finningham Road
Rickinghall
Diss
IP22 1LP
United Kingdom
COMPANY NUMBER 09780033 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
STYNE INDUSTRIAL REFRIGERATION LIMITED

BALANCE SHEET

As at 30 April 2024
STYNE INDUSTRIAL REFRIGERATION LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 ( 1) 4,558
(1) 4,558
Current assets
Stocks 4 0 18,476
Debtors 5 0 235,946
Cash at bank and in hand 368,941 790,877
368,941 1,045,299
Creditors: amounts falling due within one year 6 ( 449,233) ( 1,194,000)
Net current liabilities (80,292) (148,701)
Total assets less current liabilities (80,293) (144,143)
Creditors: amounts falling due after more than one year 7 0 ( 157,938)
Provision for liabilities 0 ( 927)
Net liabilities ( 80,293) ( 303,008)
Capital and reserves
Called-up share capital 40,000 40,000
Profit and loss account ( 120,293 ) ( 343,008 )
Total shareholder's deficit ( 80,293) ( 303,008)

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Styne Industrial Refrigeration Limited (registered number: 09780033) were approved and authorised for issue by the Board of Directors on 31 January 2025. They were signed on its behalf by:

Deborah Brown
Director
STYNE INDUSTRIAL REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
STYNE INDUSTRIAL REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Styne Industrial Refrigeration Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Falcon Hall Finningham Road, Rickinghall, Diss, IP22 1LP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements not depreciated
Plant and machinery not depreciated
Vehicles not depreciated
Fixtures and fittings not depreciated
Computer equipment not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 8

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 May 2023 3,447 27,809 66,809 2,109 5,936 106,110
Revaluations 0 47 2 1,033 147 1,229
Disposals ( 3,447) ( 27,809) ( 66,809) ( 2,109) ( 5,186) ( 105,360)
At 30 April 2024 0 47 2 1,033 897 1,979
Accumulated depreciation
At 01 May 2023 3,093 24,877 66,460 2,659 4,463 101,552
Charge for the financial year 30 431 52 50 215 778
Disposals ( 3,124) ( 25,262) ( 66,509) ( 1,676) ( 3,780) ( 100,351)
At 30 April 2024 0 47 2 1,033 898 1,980
Net book value
At 30 April 2024 0 0 0 0 ( 1) ( 1)
At 30 April 2023 354 2,932 349 ( 550) 1,473 4,558

4. Stocks

2024 2023
£ £
Stocks 0 18,476

5. Debtors

2024 2023
£ £
Trade debtors 0 181,804
Amounts owed by Group undertakings 0 19,094
Corporation tax 0 6,223
Other debtors 0 28,825
0 235,946

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 9,951
Trade creditors 0 83,763
Amounts owed to Group undertakings 449,234 157,975
Other taxation and social security 0 105,983
Other creditors ( 1) 836,328
449,233 1,194,000

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 22,438
Amounts owed to Group undertakings 0 135,500
0 157,938

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Balances owed to connected companies 449,234 274,381

9. Ultimate controlling party

Parent Company:

Styne Group Limited