Regale Refrigeration and Air Conditioning Limited 02171303 false 2024-05-01 2025-04-30 2025-04-30 The principal activity of the company is the installation and maintenance of refrigeration and air conditioning units Digita Accounts Production Advanced 6.30.9574.0 true true 02171303 2024-05-01 2025-04-30 02171303 2025-04-30 02171303 core:AcceleratedTaxDepreciationDeferredTax 2025-04-30 02171303 core:RevaluationPropertyDeferredTax 2025-04-30 02171303 core:CurrentFinancialInstruments 2025-04-30 02171303 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-30 02171303 core:Non-currentFinancialInstruments 2025-04-30 02171303 core:Non-currentFinancialInstruments core:AfterOneYear 2025-04-30 02171303 core:FurnitureFittingsToolsEquipment 2025-04-30 02171303 core:LandBuildings 2025-04-30 02171303 core:MotorVehicles 2025-04-30 02171303 bus:SmallEntities 2024-05-01 2025-04-30 02171303 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 02171303 bus:FilletedAccounts 2024-05-01 2025-04-30 02171303 bus:SmallCompaniesRegimeForAccounts 2024-05-01 2025-04-30 02171303 bus:RegisteredOffice 2024-05-01 2025-04-30 02171303 bus:Director1 2024-05-01 2025-04-30 02171303 bus:Director2 2024-05-01 2025-04-30 02171303 bus:Director3 2024-05-01 2025-04-30 02171303 bus:Director5 2024-05-01 2025-04-30 02171303 bus:Director6 2024-05-01 2025-04-30 02171303 bus:Director7 2024-05-01 2025-04-30 02171303 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 02171303 core:RevaluationReserve core:LandBuildings 2024-05-01 2025-04-30 02171303 core:FurnitureFittings 2024-05-01 2025-04-30 02171303 core:FurnitureFittingsToolsEquipment 2024-05-01 2025-04-30 02171303 core:LandBuildings 2024-05-01 2025-04-30 02171303 core:MotorCars 2024-05-01 2025-04-30 02171303 core:MotorVehicles 2024-05-01 2025-04-30 02171303 countries:EnglandWales 2024-05-01 2025-04-30 02171303 2024-04-30 02171303 core:FurnitureFittingsToolsEquipment 2024-04-30 02171303 core:LandBuildings 2024-04-30 02171303 core:MotorVehicles 2024-04-30 02171303 2023-05-01 2024-04-30 02171303 2024-04-30 02171303 core:CurrentFinancialInstruments 2024-04-30 02171303 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 02171303 core:Non-currentFinancialInstruments 2024-04-30 02171303 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 02171303 core:FurnitureFittingsToolsEquipment 2024-04-30 02171303 core:LandBuildings 2024-04-30 02171303 core:MotorVehicles 2024-04-30 iso4217:GBP xbrli:pure

Registration number: 02171303

Prepared for the registrar

Regale Refrigeration and Air Conditioning Limited trading as Royale Refrigeration and Air Conditioning

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2025

 

Regale Refrigeration and Air Conditioning Limited

trading as Royale Refrigeration and Air Conditioning

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Regale Refrigeration and Air Conditioning Limited

trading as Royale Refrigeration and Air Conditioning

Company Information

Directors

N Sheppard

S P Sheppard

J N Sheppard

N Dobson

G L Millward

S P Egan

Registered office

Unit E
Castle Industrial Park
Castle Way
Newbury
Berkshire
RG14 2EZ

Accountants

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
Gloucestershire
GL50 3AT

 

Regale Refrigeration and Air Conditioning Limited

trading as Royale Refrigeration and Air Conditioning

(Registration number: 02171303)
Balance Sheet as at 30 April 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

555,623

285,490

Current assets

 

Stocks

15,000

15,000

Debtors

5

699,395

811,585

Cash at bank and in hand

 

436,228

617,359

 

1,150,623

1,443,944

Creditors: Amounts falling due within one year

6

(824,845)

(772,846)

Net current assets

 

325,778

671,098

Total assets less current liabilities

 

881,401

956,588

Creditors: Amounts falling due after more than one year

6

(76,526)

(66,667)

Deferred tax liabilities

9

(77,084)

-

Net assets

 

727,791

889,921

Capital and reserves

 

Called up share capital

20

20

Revaluation reserve

164,301

-

Retained earnings

563,470

889,901

Shareholders' funds

 

727,791

889,921

For the financial year ending 30 April 2025 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.

Approved and authorised by the Board on 4 June 2025 and signed on its behalf by:
 


S P Sheppard
Director

 

Regale Refrigeration and Air Conditioning Limited

trading as Royale Refrigeration and Air Conditioning

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

 

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:
Unit E
Castle Industrial Park
Castle Way
Newbury
Berkshire
RG14 2EZ

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

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 and after eliminating sales within the company. 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.

 

Regale Refrigeration and Air Conditioning Limited

trading as Royale Refrigeration and Air Conditioning

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current 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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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 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

Freehold land and buildings

2% of cost

Fixtures and fittings

20% of cost

Motor vehicles

25% of cost/over life of lease

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

 

Regale Refrigeration and Air Conditioning Limited

trading as Royale Refrigeration and Air Conditioning

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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 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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Regale Refrigeration and Air Conditioning Limited

trading as Royale Refrigeration and Air Conditioning

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Financial instruments (continued)

Impairment
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 profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

2025
 No.

2024
 No.

Average number of employees

33

31

 

Regale Refrigeration and Air Conditioning Limited

trading as Royale Refrigeration and Air Conditioning

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

 

4

Tangible assets

Freehold land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2024

264,843

63,748

545,488

874,079

Revaluations

92,657

-

-

92,657

Additions

-

8,049

122,020

130,069

Disposals

-

-

(102,705)

(102,705)

At 30 April 2025

357,500

71,797

564,803

994,100

Depreciation

At 1 May 2024

121,114

57,499

409,976

588,589

Charge for the year

5,297

3,514

70,193

79,004

Eliminated on disposal

-

-

(102,705)

(102,705)

Revaluations

(126,411)

-

-

(126,411)

At 30 April 2025

-

61,013

377,464

438,477

Carrying amount

At 30 April 2025

357,500

10,784

187,339

555,623

At 30 April 2024

143,729

6,249

135,512

285,490

Freehold land and buildings has been revalued based on an independent professional valuation undertaken by Quintons (Commercial) Limited as at May 2025.

 

5

Debtors

2025
£

2024
£

Trade debtors

566,766

540,317

Prepayments

26,087

26,459

Other debtors

106,542

244,809

699,395

811,585

 

Regale Refrigeration and Air Conditioning Limited

trading as Royale Refrigeration and Air Conditioning

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

 

6

Creditors

Note

2025
 £

2024
 £

Due within one year

 

Loans and borrowings

8

51,000

50,000

Trade creditors

 

555,082

374,265

Social security and other taxes

 

101,199

150,019

Outstanding defined contribution pension costs

 

6,470

5,111

Other creditors

 

69,185

50,497

Accrued expenses

 

6,067

6,000

Corporation tax liability

35,842

136,954

 

824,845

772,846

Due after one year

 

Loans and borrowings

8

76,526

66,667

 

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Surplus/deficit on property, plant and equipment revaluation

164,301

 

8

Loans and borrowings

2025
£

2024
£

Current loans and borrowings

Bank borrowings

50,000

50,000

Hire purchase and finance lease liabilities

1,000

-

51,000

50,000

2025
£

2024
£

Non-current loans and borrowings

Bank borrowings

16,667

66,667

Hire purchase and finance lease liabilities

59,859

-

76,526

66,667

 

Regale Refrigeration and Air Conditioning Limited

trading as Royale Refrigeration and Air Conditioning

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

 

9

Deferred tax

Deferred tax assets and liabilities

2025

Liability
£

Fixed asset timing differences

22,317

Revaluation of property

54,767

77,084