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Registered number: 04047425
Fourstar Refrigeration Company Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04047425
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 76,721 70,701
Investment Properties 5 155,224 155,224
231,945 225,925
CURRENT ASSETS
Stocks 6 850 850
Debtors 7 63,106 51,795
Investments 8 76,882 76,375
Cash at bank and in hand 211,726 218,440
352,564 347,460
Creditors: Amounts Falling Due Within One Year 9 (105,470 ) (123,317 )
NET CURRENT ASSETS (LIABILITIES) 247,094 224,143
TOTAL ASSETS LESS CURRENT LIABILITIES 479,039 450,068
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,180 ) (17,675 )
NET ASSETS 459,859 432,393
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 459,857 432,391
SHAREHOLDERS' FUNDS 459,859 432,393
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Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S Forster
Director
12 May 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Fourstar Refrigeration Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04047425 . The registered office is The Old Water Tower Aylsham Road, Cawston, Norwich, Norfolk, NR10 4HR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33.33% on a straight line basis
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 14,966 179,329 4,526 12,768 211,589
Additions 5,100 21,500 - 1,989 28,589
As at 30 September 2024 20,066 200,829 4,526 14,757 240,178
Depreciation
As at 1 October 2023 12,612 113,072 4,185 11,019 140,888
Provided during the period 735 20,147 51 1,636 22,569
As at 30 September 2024 13,347 133,219 4,236 12,655 163,457
Net Book Value
As at 30 September 2024 6,719 67,610 290 2,102 76,721
As at 1 October 2023 2,354 66,257 341 1,749 70,701
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5. Investment Property
2024
£
Fair Value
As at 1 October 2023 and 30 September 2024 155,224
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 155,224 155,224
6. Stocks
2024 2023
£ £
Stock 850 850
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 58,951 48,035
Prepayments and accrued income 4,155 3,760
63,106 51,795
8. Current Asset Investments
2024 2023
£ £
Listed investments 76,882 76,375
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,306 13,218
Other loans 54,724 54,724
Corporation tax 17,018 19,925
VAT 5,641 30,260
Other creditors 1,900 1,691
Accruals and deferred income 1,554 1,554
Director's loan account 1,327 1,945
105,470 123,317
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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