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Registration number: 09158077

Refrigerated Trailer Sales and Hire Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Refrigerated Trailer Sales and Hire Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Refrigerated Trailer Sales and Hire Limited

(Registration number: 09158077)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

49,038

350,005

Current assets

 

Stocks

5

-

517,504

Debtors

6

1,025,062

37,025

Cash at bank and in hand

 

2,413

131,167

 

1,027,475

685,696

Creditors: Amounts falling due within one year

7

(227,722)

(112,382)

Net current assets

 

799,753

573,314

Total assets less current liabilities

 

848,791

923,319

Provisions for liabilities

(11,039)

(83,599)

Net assets

 

837,752

839,720

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

837,652

839,620

Shareholders' funds

 

837,752

839,720

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its 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 and 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 26 June 2025 and signed on its behalf by:
 

.........................................
T L Schofield
Director

 

Refrigerated Trailer Sales and Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
Montgomery House Sheephouse Wood
Stocksbridge
Sheffeild
South Yorkshire
S36 4GS

These financial statements were authorised for issue by the Board on 26 June 2025.

2

Accounting policies

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 financial statements are presented in Sterling, which is the functional currency of the company.

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 and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Refrigerated Trailer Sales and Hire Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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

5 Years straight Line Method

Plant and Machinery

15% Reducing Balance Method

Office Equipment

25% Reducing Balance Method

Motor Vehicles

25% Reducing Balance Method

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. They are subsequently measured at amortised cost using the effective interest method, 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.

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 subsequently measured at amortised cost using the effective interest method.

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.

 

Refrigerated Trailer Sales and Hire Limited

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

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 directors) during the year, was 3 (2023 - 3).

4

Tangible Assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

35,000

81,220

13,466

129,686

Disposals

-

(14,350)

-

(14,350)

At 31 October 2024

35,000

66,870

13,466

115,336

Depreciation

At 1 November 2023

14,000

38,704

2,637

55,341

Charge for the year

7,000

8,611

1,624

17,235

Eliminated on disposal

-

(6,278)

-

(6,278)

At 31 October 2024

21,000

41,037

4,261

66,298

Carrying amount

At 31 October 2024

14,000

25,833

9,205

49,038

At 31 October 2023

21,000

42,516

286,489

350,005

Included within the net book value of land and buildings above is £14,000 (2023 - £21,000) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

-

517,504

 

Refrigerated Trailer Sales and Hire Limited

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

6

Debtors

Current

Note

2024
£

2023
£

Trade Debtors

 

103,506

32,011

Amounts owed by related parties

921,556

-

Prepayments

 

-

5,014

   

1,025,062

37,025

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

172

172

Taxation and social security

223,489

107,072

Accruals and deferred income

3,926

5,138

Other creditors

135

-

227,722

112,382