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Registration number: 14501918

Wessex Pop-Up Coldrooms Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Wessex Pop-Up Coldrooms Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Wessex Pop-Up Coldrooms Ltd

(Registration number: 14501918)
Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

417,661

110,871

Current assets

 

Debtors

5

24,039

11,915

Cash at bank and in hand

 

30,562

10,004

 

54,601

21,919

Creditors: Amounts falling due within one year

6

(198,402)

(80,390)

Net current liabilities

 

(143,801)

(58,471)

Total assets less current liabilities

 

273,860

52,400

Creditors: Amounts falling due after more than one year

6

(61,861)

-

Provisions for liabilities

(71,427)

-

Net assets

 

140,572

52,400

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

140,472

52,300

Shareholders' funds

 

140,572

52,400

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

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 and 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 24 March 2025 and signed on its behalf by:
 


G Turnbull
Director

 

Wessex Pop-Up Coldrooms Ltd

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

1

General information

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

The address of its registered office is:
Darracott Wiltown
Curry Rivel
Langport
Somerset
TA10 0JF

Principal activity

The principal activity of the company is the rental and leasing of refrigeration equipment.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Wessex Pop-Up Coldrooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental and leasing of refrigeration equipment and the related sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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 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.

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 statement of financial position 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

15% Reducing basis

Office equipment

25% Reducing basis

Impairment

 

Wessex Pop-Up Coldrooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

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 statement of comprehensive income 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 statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Wessex Pop-Up Coldrooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Wessex Pop-Up Coldrooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

130,438

-

-

130,438

Additions

302,995

169

87,664

390,828

At 30 November 2024

433,433

169

87,664

521,266

Depreciation

At 1 December 2023

19,567

-

-

19,567

Charge for the year

62,080

42

21,916

84,038

At 30 November 2024

81,647

42

21,916

103,605

Carrying amount

At 30 November 2024

351,786

127

65,748

417,661

At 30 November 2023

110,871

-

-

110,871

5

Debtors

2024
£

2023
£

Trade debtors

24,039

10,486

Other debtors

-

1,429

24,039

11,915

 

Wessex Pop-Up Coldrooms Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

10,632

-

Trade creditors

 

50,176

14,315

Taxation and social security

 

11,885

-

Accruals and deferred income

 

6,454

750

Other creditors

 

119,255

65,325

 

198,402

80,390

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

61,861

-

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Finance lease liabilities

61,861

-

Current loans and borrowings

2024
£

2023
£

Finance lease liabilities

10,632

-