C.B. Transport Refrigeration Limited 02203868 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Transport vehicle maintenance Digita Accounts Production Advanced 6.30.9574.0 true true true 02203868 2023-07-01 2024-06-30 02203868 2024-06-30 02203868 bus:OrdinaryShareClass1 2024-06-30 02203868 core:RetainedEarningsAccumulatedLosses 2024-06-30 02203868 core:ShareCapital 2024-06-30 02203868 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-06-30 02203868 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-06-30 02203868 core:CurrentFinancialInstruments 2024-06-30 02203868 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 02203868 core:Non-currentFinancialInstruments 2024-06-30 02203868 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 02203868 core:BetweenTwoFiveYears 2024-06-30 02203868 core:WithinOneYear 2024-06-30 02203868 core:FurnitureFittingsToolsEquipment 2024-06-30 02203868 core:LandBuildings 2024-06-30 02203868 core:MotorVehicles 2024-06-30 02203868 bus:SmallEntities 2023-07-01 2024-06-30 02203868 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 02203868 bus:FilletedAccounts 2023-07-01 2024-06-30 02203868 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 02203868 bus:RegisteredOffice 2023-07-01 2024-06-30 02203868 bus:Director1 2023-07-01 2024-06-30 02203868 bus:Director3 2023-07-01 2024-06-30 02203868 bus:Director5 2023-07-01 2024-06-30 02203868 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 02203868 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02203868 core:Buildings 2023-07-01 2024-06-30 02203868 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 02203868 core:LandBuildings 2023-07-01 2024-06-30 02203868 core:MotorVehicles 2023-07-01 2024-06-30 02203868 core:PlantMachinery 2023-07-01 2024-06-30 02203868 1 2023-07-01 2024-06-30 02203868 countries:England 2023-07-01 2024-06-30 02203868 2023-06-30 02203868 core:FurnitureFittingsToolsEquipment 2023-06-30 02203868 core:LandBuildings 2023-06-30 02203868 core:MotorVehicles 2023-06-30 02203868 2022-01-01 2023-06-30 02203868 2023-06-30 02203868 bus:OrdinaryShareClass1 2023-06-30 02203868 core:RetainedEarningsAccumulatedLosses 2023-06-30 02203868 core:ShareCapital 2023-06-30 02203868 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-06-30 02203868 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-06-30 02203868 core:CurrentFinancialInstruments 2023-06-30 02203868 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 02203868 core:Non-currentFinancialInstruments 2023-06-30 02203868 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 02203868 core:BetweenTwoFiveYears 2023-06-30 02203868 core:WithinOneYear 2023-06-30 02203868 core:FurnitureFittingsToolsEquipment 2023-06-30 02203868 core:LandBuildings 2023-06-30 02203868 core:MotorVehicles 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02203868

C.B. Transport Refrigeration Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

C.B. Transport Refrigeration Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

C.B. Transport Refrigeration Limited

Company Information

Directors

Mr Kevin Collins

Mr John Forrest

Ms Tracy Ann McHugh

Registered office

Collins House
Overbrook Lane
Knowsley
Merseyside
L34 9FB

Accountants

Phil Owen & Co Limited
Chartered Accountant
22 Pall Mall
Liverpool
Merseyside
L3 6AL

 

C.B. Transport Refrigeration Limited

(Registration number: 02203868)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,053,595

2,958,189

Current assets

 

Stocks

5

630,862

458,987

Debtors

6

2,978,252

873,112

Cash at bank and in hand

 

1,124,207

682,969

 

4,733,321

2,015,068

Creditors: Amounts falling due within one year

7

(1,867,352)

(418,022)

Net current assets

 

2,865,969

1,597,046

Total assets less current liabilities

 

5,919,564

4,555,235

Creditors: Amounts falling due after more than one year

7

(495,834)

(495,032)

Provisions for liabilities

(140,776)

(119,014)

Net assets

 

5,282,954

3,941,189

Capital and reserves

 

Called up share capital

8

188

188

Retained earnings

5,282,766

3,941,001

Shareholders' funds

 

5,282,954

3,941,189

For the financial year ending 30 June 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 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.

 

C.B. Transport Refrigeration Limited

(Registration number: 02203868)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 31 March 2025 and signed on its behalf by:
 

.........................................
Mr Kevin Collins
Director

 

C.B. Transport Refrigeration Limited

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

1

General information

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

The address of its registered office is:
Collins House
Overbrook Lane
Knowsley
Merseyside
L34 9FB

These financial statements were authorised for issue by the Board on 31 March 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.

 

C.B. Transport Refrigeration Limited

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

Going concern

The financial statements have been prepared on a going concern basis.

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.

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

15-33% on cost

Motor vehicles

25% on cost

Freehold Buildings

2% on cost

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.

 

C.B. Transport Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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.

 

C.B. Transport Refrigeration Limited

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

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

 

C.B. Transport Refrigeration Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 70 (2023 - 60).

 

C.B. Transport Refrigeration Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

2,714,108

909,764

1,616,254

5,240,126

Additions

58,340

25,114

414,723

498,177

Disposals

-

-

(131,320)

(131,320)

At 30 June 2024

2,772,448

934,878

1,899,657

5,606,983

Depreciation

At 1 July 2023

325,578

867,891

1,088,469

2,281,938

Charge for the year

24,791

36,660

341,319

402,770

Eliminated on disposal

-

-

(131,320)

(131,320)

At 30 June 2024

350,369

904,551

1,298,468

2,553,388

Carrying amount

At 30 June 2024

2,422,079

30,327

601,189

3,053,595

At 30 June 2023

2,388,531

41,872

527,786

2,958,189

5

Stocks

2024
£

2023
£

Other inventories

630,862

458,987

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,548,742

872,853

Prepayments

32,054

-

Other debtors

1,397,456

259

 

2,978,252

873,112

 

C.B. Transport Refrigeration Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

235,630

168,738

Trade creditors

 

727,452

32,690

Taxation and social security

 

797,750

94,136

Accruals and deferred income

 

106,450

122,458

Other creditors

 

70

-

 

1,867,352

418,022

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £235,630 (2023 £168,738)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

495,834

495,032

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £495,834 (2023 - £495,032).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

88

88

88

88

B Ordinary of £1 each

100

100

100

100

188

188

188

188

 

C.B. Transport Refrigeration Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

342,303

361,836

Hire purchase contracts

153,531

133,196

495,834

495,032

Current loans and borrowings

2024
£

2023
£

Bank borrowings

72,480

72,480

Hire purchase contracts

163,150

96,258

235,630

168,738

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

97,500

97,500

Later than one year and not later than five years

259,110

356,877

356,610

454,377

The amount of non-cancellable operating lease payments recognised as an expense during the year was £127,500 (2023 - £105,000).

 

C.B. Transport Refrigeration Limited

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

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

117,000

396,574

Contributions paid to money purchase schemes

69,140

53,541

186,140

450,115

12

Parent and ultimate parent undertaking

The ultimate parent is CBTR Ltd, incorporated in England and Wales.