Robson Refrigeration Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01916809

ROBSON REFRIGERATION LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 September 2024

ROBSON REFRIGERATION LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2024

	2024		2023
Note	£	£	£	£

Fixed Assets

Tangible assets	5		542,032		479,355

Current Assets

Stocks		272,442	368,269
Debtors	6	609,447	485,217
Cash at bank and in hand		401,075	207,918
		-------------	-------------
		1,282,964	1,061,404

Creditors: amounts falling due within one year	7	542,153		431,916
		-------------		-------------
Net Current Assets			740,811		629,488
			-------------		-------------
Total Assets Less Current Liabilities			1,282,843		1,108,843

Creditors: amounts falling due after more than one year	8		254,957		306,422

Provisions	129,500	72,500
	-------------	-------------
Net Assets	898,386	729,921
	-------------	-------------

ROBSON REFRIGERATION LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2024

	2024		2023
Note	£	£	£	£

Capital and Reserves

Called up share capital	110	110
Share premium account	3,820	3,820
Profit and loss account	894,456	725,991
	----------	----------
Shareholders Funds	898,386	729,921
	----------	----------

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.

For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 18 March 2025 , and are signed on behalf of the board by:

C C Robson

Director

Company registration number: 01916809

ROBSON REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 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 1 Hallam Road, Priory Park East, Hull, England, HU4 7DQ.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue Recognition

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.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Operating Leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:

Long leasehold property	-	10% straight line
Plant and machinery	-	10% straight line
Computer equipment	-	20% straight line
Motor vehicles	-	20% straight line

Impairment of Fixed Assets

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 stock to its present location and condition.

Finance Leases and Hire Purchase Contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a 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. Debt instruments are subsequently measured at amortised cost.

Defined Contribution Plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 29 (2023: 23 ).

5. Tangible Assets

	Long leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 October 2023	39,506	146,869	7,575	414,702	608,652
Additions	–	56,766	9,705	96,203	162,674
	---------	----------	---------	----------	----------
At 30 September 2024	39,506	203,635	17,280	510,905	771,326
	---------	----------	---------	----------	----------
Depreciation
At 1 October 2023	11,868	35,452	2,303	79,674	129,297
Charge for the year	3,956	20,363	3,456	72,222	99,997
	---------	----------	---------	----------	----------
At 30 September 2024	15,824	55,815	5,759	151,896	229,294
	---------	----------	---------	----------	----------
Carrying amount
At 30 September 2024	23,682	147,820	11,521	359,009	542,032
	---------	----------	---------	----------	----------
At 30 September 2023	27,638	111,417	5,272	335,028	479,355
	---------	----------	---------	----------	----------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Motor vehicles
	£
At 30 September 2024	359,009
	----------
At 30 September 2023	335,028
	----------

6. Debtors

	2024	2023
	£	£
Trade debtors	449,348	438,852
Other debtors	160,099	46,365
	----------	----------
	609,447	485,217
	----------	----------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	29,735	28,335
Trade creditors	211,956	188,307
Social security and other taxes	149,213	71,179
Other creditors	151,249	144,095
	----------	----------
	542,153	431,916
	----------	----------

Liabilities of £135,748 (2023 - £115,340) are secured against the assets of the company.

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

	2024	2023
	£	£
Bank loans and overdrafts	39,418	70,554
Other creditors	215,539	235,868
	----------	----------
	254,957	306,422
	----------	----------

Liabilities of £254,957 (2023 - £306,422) are secured against the assets of the company.

9. Operating Leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	61,213	65,448
Later than 1 year and not later than 5 years	220,000	220,000
Later than 5 years	334,583	389,583
	----------	----------
	615,796	675,031
	----------	----------

10. Directors' Advances, Credits and Guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
C C Robson	12,493	93,055	–	105,548
S Robson	–	15,722	–	15,722
	---------	----------	----	----------
	12,493	108,777	–	121,270
	---------	----------	----	----------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
C C Robson	23,228	–	( 10,735)	12,493
S Robson	9,202	–	( 9,202)	–
	---------	----	---------	---------
	32,430	–	( 19,937)	12,493
	---------	----	---------	---------

All balances are interest free and repayable on demand.