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Registration number: 04332081

Simon Turner Refrigeration Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Simon Turner Refrigeration Services Limited

Contents

Company Information

1

Director's Report

2

Profit and Loss Account and Statement of Retained Earnings

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 11

Detailed Profit and Loss Account

12 to 14

Accountants' Report

15

 

Simon Turner Refrigeration Services Limited

Company Information

Director

Mr Simon Turner

Company secretary

Mrs Shirley Ann Turner

Registered office

8 High Street
Heathfield
East Sussex
TN21 8LS

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

Simon Turner Refrigeration Services Limited

Director's Report for the Year Ended 31 December 2024

The director presents his report and the financial statements for the year ended 31 December 2024.

Director of the company

The director who held office during the year was as follows:

Mr Simon Turner

Principal activity

The principal activity of the company is refrigeration services and repairs.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 3 June 2025
 

.........................................
Mr Simon Turner
Director

 

Simon Turner Refrigeration Services Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 December 2024

Note

2024
£

2023
£

Turnover

 

427,165

101,470

Cost of sales

 

(257,360)

(14,480)

Gross profit

 

169,805

86,990

Distribution costs

 

(13)

(52)

Administrative expenses

 

(105,712)

(31,790)

Operating profit

 

64,080

55,148

Other interest receivable and similar income

 

15,027

1,128

Interest payable and similar charges

 

(4,818)

(10,693)

 

10,209

(9,565)

Profit before tax

4

74,289

45,583

Taxation

5

(14,346)

(484)

Profit for the financial year

 

59,943

45,099

Retained earnings brought forward

 

637,467

669,367

Dividends paid

 

(63,000)

(77,000)

Restatements of retained earnings

 

56,964

-

Retained earnings carried forward

 

691,374

637,466

The above results were derived from continuing operations.

 

Simon Turner Refrigeration Services Limited

(Registration number: 04332081)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

41,614

624,386

Investment property

7

1,625,000

-

 

1,666,614

624,386

Current assets

 

Debtors

8

53,249

40,481

Cash at bank and in hand

 

116,945

64,193

 

170,194

104,674

Creditors: Amounts falling due within one year

9

(66,586)

(43,733)

Net current assets

 

103,608

60,941

Total assets less current liabilities

 

1,770,222

685,327

Creditors: Amounts falling due after more than one year

9

(32,678)

(47,860)

Provisions for liabilities

(261,542)

-

Net assets

 

1,476,002

637,467

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

784,627

-

Retained earnings

691,374

637,466

Shareholders' funds

 

1,476,002

637,467

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 3 June 2025
 

 

Simon Turner Refrigeration Services Limited

(Registration number: 04332081)
Balance Sheet as at 31 December 2024

.........................................
Mr Simon Turner
Director

 

Simon Turner Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

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 presentation currency of the financial statements is the Pound Sterling (£).

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 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.

 

Simon Turner Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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

Freehold property

straight line over 50 years

Property Improvements

straight line over 50 years

Plant and machinery

10% reducing balance

Fixtures, fittings and equipment

33.3% straight line

Motor vehicles

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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 at the transaction price, 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.

 

Simon Turner Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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 at the transaction price.

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.

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.

3

Staff numbers

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

4

Profit before tax

Arrived at after charging/(crediting)

 

Simon Turner Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2024
£

2023
£

Depreciation expense

4,624

22,821

5

Taxation

Tax charged/(credited) in the income statement

2024
£

2023
£

Current taxation

UK corporation tax

14,346

525

UK corporation tax adjustment to prior periods

-

(41)

14,346

484

6

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

809,800

48,500

50,062

908,362

Additions

-

-

7,650

7,650

Disposals

(809,800)

(48,500)

(2,880)

(861,180)

At 31 December 2024

-

-

54,832

54,832

Depreciation

At 1 January 2024

230,969

43,645

9,362

283,976

Charge for the year

-

-

4,624

4,624

Eliminated on disposal

(230,969)

(43,645)

(768)

(275,382)

At 31 December 2024

-

-

13,218

13,218

Carrying amount

At 31 December 2024

-

-

41,614

41,614

At 31 December 2023

578,831

4,855

40,700

624,386

Included within the net book value of land and buildings above is £Nil (2023 - £578,831) in respect of freehold land and buildings.
 

 

Simon Turner Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Investment properties

2024
£

Transfers to and from Stocks

578,831

Fair value adjustments

1,046,169

At 31 December

1,625,000

There has been no valuation of investment property by an independent valuer.

8

Debtors

2024
£

2023
£

Trade debtors

-

1,945

Prepayments

750

-

Other debtors

52,499

38,536

53,249

40,481

 

Simon Turner Refrigeration Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

14,533

14,533

Trade creditors

 

-

3,722

Taxation and social security

 

28,163

525

Accruals and deferred income

 

8,593

8,111

Other creditors

 

15,000

15,000

Director loan account

 

297

1,842

 

66,586

43,733

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

32,678

47,860

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

32,678

47,860

Current loans and borrowings

2024
£

2023
£

Bank borrowings

14,533

14,533

 

Simon Turner Refrigeration Services Limited

Detailed Profit and Loss Account for the Year Ended 31 December 2024

2024
£

2023
£

Turnover (analysed below)

427,165

101,470

Cost of sales (analysed below)

(257,360)

(14,480)

Gross profit

169,805

86,990

Gross profit (%)

39.75%

85.73%

Distribution costs (analysed below)

(13)

(52)

Administrative expenses

Employment costs (analysed below)

(76,199)

(32,061)

Establishment costs (analysed below)

(1,359)

(1,801)

General administrative expenses (analysed below)

(17,574)

(20,926)

Finance charges (analysed below)

(89)

(57)

Depreciation costs (analysed below)

(4,624)

(22,821)

Other expenses (analysed below)

(5,867)

45,876

(105,712)

(31,790)

Operating profit

64,080

55,148

Other interest receivable and similar income (analysed below)

15,027

1,128

Interest payable and similar expenses (analysed below)

(4,818)

(10,693)

10,209

(9,565)

Profit before tax

74,289

45,583

 

Simon Turner Refrigeration Services Limited

Detailed Profit and Loss Account for the Year Ended 31 December 2024

2024
£

2023
£

   

Turnover

Sale of goods, UK

341,965

10,265

Rent receivable

85,200

91,205

427,165

101,470

   

Cost of sales

Opening raw materials

-

850

Purchases

215,056

13,080

Subcontract cost

42,304

550

257,360

14,480

   

Distribution costs

Sundry expenses

13

52

   

Employment costs

Wages and salaries

21,450

18,551

Directors remuneration

12,570

12,576

Staff pensions (Defined contribution)

41,021

934

Staff training

1,158

-

76,199

32,061

   

Establishment costs

Insurance

1,359

1,801

   

General administrative expenses

Repairs and maintenance

735

5,419

General maintenance

153

1,410

Telephone and fax

603

513

Printing, postage and stationery

66

755

Hire of other assets (Operating leases)

1,760

-

Travel and subsistence

6,502

4,765

Accountancy fees

7,755

7,654

Legal and professional fees

-

410

17,574

20,926

   

Finance charges

Bank charges

89

57

   

Depreciation costs

Depreciation of freehold property

-

16,196

Depreciation of plant and machinery (owned)

4,624

5,006

Depreciation of motor vehicles (owned)

-

1,619

4,624

22,821

 

Simon Turner Refrigeration Services Limited

Detailed Profit and Loss Account for the Year Ended 31 December 2024

2024
£

2023
£

   

Other expenses

(Profit)/loss on disposal of tangible fixed assets

5,867

(45,876)

   

Other interest receivable and similar income

Bank interest receivable

(1,027)

(1,128)

Other interest receivable

(14,000)

-

(15,027)

(1,128)

   

Interest payable and similar expenses

Bank interest payable

4,755

7,234

Hire purchase interest

-

3,459

Other interest payable

63

-

4,818

10,693

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Simon Turner Refrigeration Services Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Simon Turner Refrigeration Services Limited for the year ended 31 December 2024 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Simon Turner Refrigeration Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Simon Turner Refrigeration Services Limited and state those matters that we have agreed to state to the Board of Directors of Simon Turner Refrigeration Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simon Turner Refrigeration Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Simon Turner Refrigeration Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Simon Turner Refrigeration Services Limited. You consider that Simon Turner Refrigeration Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Simon Turner Refrigeration Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

3 June 2025