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REGISTERED NUMBER: 11608504 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 September 2024

for

DCI Refrigeration & Electrical 2018 Ltd

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)






Contents of the Consolidated Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Consolidated Statement of Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 15


DCI Refrigeration & Electrical 2018 Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr S R Chambers
Mr A Chambers
Mr M J Drain
Mr B Drain
Mrs R Geer



REGISTERED OFFICE: Warrior Business centre
Fitzherbert Road
Farlington
Portsmouth
Hampshire
PO6 1TX



REGISTERED NUMBER: 11608504 (England and Wales)



SENIOR STATUTORY AUDITOR: Greg Lewis



AUDITORS: Griffiths Marshall
Floor 4
Llanthony Warehouse
The Docks
Gloucester
Gloucestershire
GL1 2EH

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Group Strategic Report
for the Year Ended 30 September 2024

The directors present their strategic report of the company and the group for the year ended 30 September 2024.

REVIEW OF BUSINESS
We are pleased to present the report and accounts of DCI Refrigeration & Electrical 2018 Limited for the year
ended 30 September 2024.

As ever, we are extremely grateful for the continued support and hard work of our employees and the loyalty of our clients, suppliers and business partners.

PRINCIPAL RISKS AND UNCERTAINTIES
The company had no financial instruments at the year end other than bank loans and cash, and financial
instruments such as debtors and creditors that arise directly from its operations

KEY PERFORMANCE INDICATORS
The group measures its performance on a number of key performance indicators, including revenue, gross
profit as well as net cash from operations. Individual job profitability is very closely monitored by the directors
as this is key to the operation of the group.

ON BEHALF OF THE BOARD:





Mrs R Geer - Director


18 June 2025

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Report of the Directors
for the Year Ended 30 September 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of refrigeration and electrical engineering.

DIVIDENDS
The total distribution of dividends for the year ended 30 September 2024 was £698,315.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

Mr S R Chambers
Mr A Chambers
Mr M J Drain
Mr B Drain
Mrs R Geer

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mrs R Geer - Director


18 June 2025

Report of the Independent Auditors to the Members of
DCI Refrigeration & Electrical 2018 Ltd

Opinion
We have audited the financial statements of DCI Refrigeration & Electrical 2018 Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
DCI Refrigeration & Electrical 2018 Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
DCI Refrigeration & Electrical 2018 Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which our procedures are capable of detecting irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and
claims as well as actual, suspected and alleged fraud;
- Assessing the extent of compliance with the laws and regulations considered to have a direct material
effect on the financial statements or the operations of the company through enquiry and inspection;
- Reviewing financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations;
- Performing audit work over the risk of management bias and override of controls, including testing of
journal entries and other adjustments for appropriateness, evaluating the business rationale of
significant transactions outside the normal course of business and reviewing accounting estimates for
indicators of potential bias.

Our Audit procedures were designed to respond to risks of a material misstatement in the financial statements, recognising that the risk of not detecting a material mistatement due to fraud is higher than risk of not detecting one resulting from error, as fraud involves deliberate concealment by, for example, forgery, misrepresentations or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
DCI Refrigeration & Electrical 2018 Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Greg Lewis (Senior Statutory Auditor)
for and on behalf of Griffiths Marshall
Floor 4
Llanthony Warehouse
The Docks
Gloucester
Gloucestershire
GL1 2EH

18 June 2025

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Consolidated Statement of Comprehensive Income
for the Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   

TURNOVER 3 8,895,582 11,989,529

Cost of sales 6,076,197 9,232,432
GROSS PROFIT 2,819,385 2,757,097

Administrative expenses 1,802,528 2,088,350
OPERATING PROFIT 5 1,016,857 668,747

Income from shares in group
undertakings

15,688

-
Interest receivable and similar income 10 -
15,698 -
1,032,555 668,747

Interest payable and similar expenses 6 28,601 41,992
PROFIT BEFORE TAXATION 1,003,954 626,755

Tax on profit 7 265,082 168,880
PROFIT FOR THE FINANCIAL YEAR 738,872 457,875

OTHER COMPREHENSIVE INCOME
Buy back shares less Capital redemption - (109,980 )
Income tax relating to other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

-

(109,980

)
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

738,872

347,895

Profit attributable to:
Owners of the parent 738,872 457,875

Total comprehensive income attributable to:
Owners of the parent 738,872 347,895

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Consolidated Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 222,131 277,664
Tangible assets 11 552,031 791,470
Investments 12 - -
774,162 1,069,134

CURRENT ASSETS
Stocks 13 8,000 18,199
Debtors 14 1,258,403 3,237,554
Cash at bank and in hand 1,109,499 471,237
2,375,902 3,726,990
CREDITORS
Amounts falling due within one year 15 1,995,758 3,312,729
NET CURRENT ASSETS 380,144 414,261
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,154,306

1,483,395

CREDITORS
Amounts falling due after more than one
year

16

(113,842

)

(418,857

)

PROVISIONS FOR LIABILITIES 19 (133,315 ) (182,258 )
NET ASSETS 907,149 882,280

CAPITAL AND RESERVES
Called up share capital 20 100 100
Capital redemption reserve 21 20 20
Retained earnings 21 907,029 882,160
907,149 882,280

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2025 and were signed on its behalf by:





Mrs R Geer - Director


DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Company Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 1,014,015 1,014,015
1,014,015 1,014,015

CURRENT ASSETS
Cash in hand 120 120

CREDITORS
Amounts falling due within one year 15 136,705 135,910
NET CURRENT LIABILITIES (136,585 ) (135,790 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

877,430

878,225

CAPITAL AND RESERVES
Called up share capital 20 100 100
Capital redemption reserve 21 20 20
Retained earnings 21 877,310 878,105
877,430 878,225

Company's profit for the financial year 697,520 455,921

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2025 and were signed on its behalf by:





Mrs R Geer - Director


DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Consolidated Statement of Changes in Equity
for the Year Ended 30 September 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 October 2022 120 991,001 - 991,121

Changes in equity
Issue of share capital (20 ) - - (20 )
Dividends - (456,716 ) - (456,716 )
Total comprehensive income - 347,875 20 347,895
Balance at 30 September 2023 100 882,160 20 882,280

Changes in equity
Dividends - (714,003 ) - (714,003 )
Total comprehensive income - 738,872 - 738,872
Balance at 30 September 2024 100 907,029 20 907,149

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Company Statement of Changes in Equity
for the Year Ended 30 September 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 October 2022 120 988,900 - 989,020

Changes in equity
Issue of share capital (20 ) - - (20 )
Dividends - (456,716 ) - (456,716 )
Total comprehensive income - 345,921 20 345,941
Balance at 30 September 2023 100 878,105 20 878,225

Changes in equity
Dividends - (698,315 ) - (698,315 )
Total comprehensive income - 697,520 - 697,520
Balance at 30 September 2024 100 877,310 20 877,430

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Consolidated Cash Flow Statement
for the Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,834,892 94,697
Interest paid (1,249 ) -
Interest element of hire purchase
payments paid

(27,352

)

-
Finance costs paid - (41,992 )
Tax paid (200,060 ) (200,060 )
Net cash from operating activities 1,606,231 (147,355 )

Cash flows from investing activities
Purchase of tangible fixed assets (27,495 ) (172,294 )
Sale of tangible fixed assets 40,719 65,080
Interest received 10 -
Dividends received 15,688 -
Net cash from investing activities 28,922 (107,214 )

Cash flows from financing activities
Capital repayments in year (282,888 ) (289,697 )
Share buyback - (110,000 )
Equity dividends paid (714,003 ) (456,716 )
Net cash from financing activities (996,891 ) (856,413 )

Increase/(decrease) in cash and cash equivalents 638,262 (1,110,982 )
Cash and cash equivalents at
beginning of year

2

471,237

1,582,219

Cash and cash equivalents at end of
year

2

1,109,499

471,237

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Cash Flow Statement
for the Year Ended 30 September 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

30.9.24 30.9.23
£    £   
Profit before taxation 1,003,954 626,755
Depreciation charges 237,628 306,756
Loss/(profit) on disposal of fixed assets 44,121 (33,586 )
Finance costs 28,601 41,992
Finance income (15,698 ) -
1,298,606 941,917
Decrease in stocks 10,199 31,107
Decrease/(increase) in trade and other debtors 1,979,152 (1,730,517 )
(Decrease)/increase in trade and other creditors (1,453,065 ) 852,190
Cash generated from operations 1,834,892 94,697

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 1,109,499 471,237
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 471,237 1,582,219


3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank and in hand 471,237 638,262 1,109,499
471,237 638,262 1,109,499
Debt
Finance leases (550,704 ) 282,888 (267,816 )
Debts falling due within 1 year (53,119 ) (8,756 ) (61,875 )
Debts falling due after 1 year (130,303 ) 82,912 (47,391 )
(734,126 ) 357,044 (377,082 )
Total (262,889 ) 995,306 732,417

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

DCI Refrigeration & Electrical 2018 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 'Statement of Cash Flows': Presentation of a statement of cash flow and related notes and disclosures;
- Section 33 'Related Party Disclosures': Compensation for key management personnel.

Basis of consolidation
The consolidated financial statements incorporate those of DCI Refrigeration & Electrical 2018
Limited and all of its subsidiaries (ie entities that the group controls through its power to govern the
financial and operating policies so as to obtain economic benefits). Their results are incorporated from
the date that control passes.

All financial statements are made up to 30 September 2024. Where necessary, adjustments are made to
the financial statements of subsidiaries to bring the accounting policies used into line with those used
by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies
are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides
evidence of an impairment of the asset transferred.

Significant judgements and estimates
In the application of the group's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

The main accounting estimates are:

- Useful economic life of tangible fixed assets
- Accruals and prepayments

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Improvements - 10% on straight line
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the saleproceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value. In assessing the annual depreciation charge on those assets the directors have taken into consideration the estimated useful economic life of the assets and their estimated residual values. Having also taken into account the level of maintenance at which the properties are maintained, based on all of these factors, the directors consider that a depreciation charge is not required.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The group has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, and deposits held at call with banks.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leases
Rentals paid 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 lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the
date of inception and the present value of the minimum lease payments. The related liability is included
in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital
and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate
of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit
or loss on a straight line basis over the term of the relevant lease except where another more
systematic basis is more representative of the time pattern in which economic benefits from the leased
asset are consumed.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the
group has adequate resources to continue in operational existence for the foreseeable future. Thus the
director continues to adopt the going concern basis of accounting in preparing the financial statements

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the group reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any
such indication exists, the recoverable amount of the asset is estimated in order to determine the
extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of
an individual asset, the company estimates the recoverable amount of the cash-generating unit to
which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment
as a single asset. Any goodwill included in the carrying amount of the investment is not tested
separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in
use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate
that reflects current market assessments of the time value of money and the risks specific to the asset
for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying
amount of the asset is reduced to its recoverable amount. An impairment loss is recognised
immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case
the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have
ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is
increased to the revised estimate of its recoverable amount, but so that the increased carrying amount
does not exceed the carrying amount that would have been determined had no impairment loss been
recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in
profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of
the impairment loss is treated as a revaluation increase.

Equity instruments
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the
discretion of the group.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

30.9.24 30.9.23
£    £   
Refrigeration sales 5,607,346 9,254,641
Service sales 2,382,477 2,497,864
Contract, electrical and other 903,978 237,024
Misc Income 1,781 -
8,895,582 11,989,529

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

4. EMPLOYEES AND DIRECTORS
30.9.24 30.9.23
£    £   
Wages and salaries 2,212,038 2,523,295
Social security costs 243,043 256,496
Other pension costs 137,623 159,054
2,592,704 2,938,845

The average number of employees during the year was as follows:
30.9.24 30.9.23

Directors 7 5
Employees 52 60
59 65


The Directors are considered the only members of key management.

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.9.24 30.9.23
£    £   
Hire of plant and machinery 138 184
Leasing- Motor vehicles 98,705 98,229
Depreciation - owned assets 182,094 251,225
Loss/(profit) on disposal of fixed assets 44,121 (33,586 )
Goodwill amortisation 55,533 55,533
Fees payable to the company's auditor for the audit of the company's
financial statements

12,740

11,850

6. INTEREST PAYABLE AND SIMILAR EXPENSES
30.9.24 30.9.23
£    £   
Other interest payable 1,249 18,677
Hire purchase 27,352 23,315
28,601 41,992

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
30.9.24 30.9.23
£    £   
Current tax:
UK corporation tax 314,025 200,060

Deferred tax (48,943 ) (31,180 )
Tax on profit 265,082 168,880

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

30.9.24 30.9.23
£    £   
Profit before tax 1,003,954 626,755
Profit multiplied by the standard rate of corporation tax in the UK of
25 % (2023 - 25 %)

250,989

156,689

Effects of:
Expenses not deductible for tax purposes 10,621 19,701
Depreciation in excess of capital allowances 38,333 36,783
Consolidation adjustment 14,082 14,082
CT hybrid Tax rate adjustment - (27,195 )
Deferred Tax movement (48,943 ) (31,180 )
Total tax charge 265,082 168,880

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30 September 2024.

30.9.23
Gross Tax Net
£    £    £   
Buy back shares less Capital redemption (109,980 ) - (109,980 )

8. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its profit and loss account in these financial statements. The profit after tax of the Parent Company for the year was £697,520 (2023 - £455,921).

9. DIVIDENDS
30.9.24 30.9.23
£    £   
shares of each
Interim 714,003 456,716

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

10. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 555,328
AMORTISATION
At 1 October 2023 277,664
Amortisation for year 55,533
At 30 September 2024 333,197
NET BOOK VALUE
At 30 September 2024 222,131
At 30 September 2023 277,664

11. TANGIBLE FIXED ASSETS

Group
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2023 75,339 191,264 136,633 1,341,979 1,745,215
Additions - 3,475 - 24,020 27,495
Disposals - - - (188,494 ) (188,494 )
At 30 September 2024 75,339 194,739 136,633 1,177,505 1,584,216
DEPRECIATION
At 1 October 2023 61,066 190,029 127,218 575,432 953,745
Charge for year 1,950 2,055 1,412 176,677 182,094
Eliminated on disposal - - - (103,654 ) (103,654 )
At 30 September 2024 63,016 192,084 128,630 648,455 1,032,185
NET BOOK VALUE
At 30 September 2024 12,323 2,655 8,003 529,050 552,031
At 30 September 2023 14,273 1,235 9,415 766,547 791,470

The net carrying value of tangible fixed assets includes motor vehicles held under finance leases or hire purchase contracts of £475,694.

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertaking
£   
COST
At 1 October 2023
and 30 September 2024 1,014,015
NET BOOK VALUE
At 30 September 2024 1,014,015
At 30 September 2023 1,014,015


The company holds more than 20% of the share capital of the following companies:

Company Country of registration Shares held
DCI Refrigeration and Electrical Limited England and Wales 100%
D.C.I Holdings Limited England and Wales 100%

13. STOCKS

Group
30.9.24 30.9.23
£    £   
Finished goods 8,000 18,199

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
30.9.24 30.9.23
£    £   
Trade debtors 1,208,722 2,966,393
Amounts owed by participating interests 1,862 1,862
Amounts recoverable on contract - 23,635
Other debtors 11,450 5,623
Prepayments 36,369 240,041
1,258,403 3,237,554

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.9.24 30.9.23 30.9.24 30.9.23
£    £    £    £   
Bank loans and overdrafts (see note 17) 61,875 53,119 - -
Hire purchase contracts (see note 18) 201,365 262,150 - -
Trade creditors 608,795 1,544,458 - -
Amounts owed to group undertakings 1 - 136,705 135,910
Tax 314,025 200,060 - -
Social security and other taxes 61,778 56,281 - -
VAT 11,398 409,798 - -
Other creditors 296,848 24,169 - -
Directors' current accounts 22,233 22,233 - -
Accruals and deferred income 417,440 740,461 - -
1,995,758 3,312,729 136,705 135,910

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the
assets concerned.

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
30.9.24 30.9.23
£    £   
Bank loans (see note 17) 47,391 130,303
Hire purchase contracts (see note 18) 66,451 288,554
113,842 418,857

17. LOANS

An analysis of the maturity of loans is given below:

Group
30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 61,875 53,119
Amounts falling due between one and two years:
Bank loans - 1-2 years 47,391 130,303

Bank Loans and overdrafts are secured by a fixed and floating charge over the company's assets.

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
30.9.24 30.9.23
£    £   
Net obligations repayable:
Within one year 201,365 262,150
Between one and five years 66,451 288,554
267,816 550,704

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the
assets concerned.

19. PROVISIONS FOR LIABILITIES

Group
30.9.24 30.9.23
£    £   
Deferred tax 133,315 182,258

Group
Deferred
tax
£   
Balance at 1 October 2023 182,258
Provided during year (48,943 )
Balance at 30 September 2024 133,315

Deferred taxation is provided in full in respect of taxation deferred by accelerated capital allowances between the treatment of certain items for taxation and accounting purposes.

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal value: £

20 A Shares 1 20
20 C Shares 1 20
20 D Shares 1 20
20 E Shares 1 20
20 F Shares 1 20
100

DCI Refrigeration & Electrical 2018 Ltd (Registered number: 11608504)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024

21. RESERVES

Group
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 October 2023 882,160 20 882,180
Profit for the year 738,872 738,872
Dividends (714,003 ) (714,003 )
At 30 September 2024 907,029 20 907,049

Company
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 October 2023 878,105 20 878,125
Profit for the year 697,520 697,520
Dividends (698,315 ) (698,315 )
At 30 September 2024 877,310 20 877,330


22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Dividends totalling £698,315 were paid in the year in respect of shares owed by the director to the Company.

As at the year end the company owed the director £22,233.

23. RELATED PARTY DISCLOSURES

Under the exemption permitted by Financial Reporting Standard 102, the company is not required to disclose transcations with wholly owned subsidiaries of the Group. There were no other related party transactions.

24. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mrs R Geer, Mr S Chambers, Mr A Chambers, Mr M J Drain and
Mr B Drain.