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REGISTERED NUMBER: 04294590 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 September 2024

for

DISPLAY REFRIGERATION HIRE LIMITED

DISPLAY REFRIGERATION HIRE LIMITED (REGISTERED NUMBER: 04294590)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DISPLAY REFRIGERATION HIRE LIMITED

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: M A Febery
N Febery





REGISTERED OFFICE: Unit A
Centurion House
Olympus Business Park
Quedgeley
Gloucester
GL2 4NF





REGISTERED NUMBER: 04294590 (England and Wales)





ACCOUNTANTS: Gravita
Chartered Accountants
Bath House
6 - 8 Bath Street
Bristol
BS1 6HL

DISPLAY REFRIGERATION HIRE LIMITED (REGISTERED NUMBER: 04294590)

Balance Sheet
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 739,842 791,043
Investment property 6 352,408 -
1,092,250 791,043

CURRENT ASSETS
Debtors 7 721,502 675,551
Cash at bank 230,870 611,766
952,372 1,287,317
CREDITORS
Amounts falling due within one year 8 (465,623 ) (547,774 )
NET CURRENT ASSETS 486,749 739,543
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,578,999

1,530,586

CREDITORS
Amounts falling due after more than one
year

9

(155,793

)

(64,804

)

PROVISIONS FOR LIABILITIES (176,989 ) (191,273 )
NET ASSETS 1,246,217 1,274,509

CAPITAL AND RESERVES
Called up share capital 11 87 87
Capital redemption reserve 15 15
Retained earnings 1,246,115 1,274,407
SHAREHOLDERS' FUNDS 1,246,217 1,274,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DISPLAY REFRIGERATION HIRE LIMITED (REGISTERED NUMBER: 04294590)

Balance Sheet - continued
30 SEPTEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2025 and were signed on its behalf by:





M A Febery - Director


DISPLAY REFRIGERATION HIRE LIMITED (REGISTERED NUMBER: 04294590)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. COMPANY INFORMATION

Display Refrigeration Hire Limited 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 Company Information page.

The principal activity of the company in the year under review was that of the hire of refrigeration equipment.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 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 on the historical cost convention, with the exception of investment properties which are carried at fair value. The principal accounting policies adopted are set out below.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. Revenue is recognised at the point of delivery of the hired goods and services.

Goodwill
Negative goodwill has arisen because the fair value of assets acquired exceeds the fair value of the consideration paid. Negative goodwill is recognised on the balance sheet and amortised alongside the assets acquired. The period chosen for writing off goodwill is 3 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
All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property - 10% straight line over 120 months
Fixtures & Fittings - 20% straight line over 60 months
Hire Equipment - 20% straight line over 60 months
Motor Vehicles - 25% straight line over 48 months
Computers & Office Equipment - 25% straight line over 48 months
Cold Rooms - 20% straight line over 60 months

DISPLAY REFRIGERATION HIRE LIMITED (REGISTERED NUMBER: 04294590)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company 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 when the company 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 trade and other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. 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.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors 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 payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

DISPLAY REFRIGERATION HIRE LIMITED (REGISTERED NUMBER: 04294590)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period on a straight line basis where this is not materially different to the sum of the digits basis. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 (5,864 )
AMORTISATION
At 1 October 2023
and 30 September 2024 (5,864 )
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

DISPLAY REFRIGERATION HIRE LIMITED (REGISTERED NUMBER: 04294590)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Short and Cold
leasehold Fittings rooms
£    £    £   
COST
At 1 October 2023 60,728 - 149,389
Additions 12,059 14,812 -
Disposals - - -
At 30 September 2024 72,787 14,812 149,389
DEPRECIATION
At 1 October 2023 42,391 - 52,600
Charge for year 3,979 2,476 29,878
Eliminated on disposal - - -
At 30 September 2024 46,370 2,476 82,478
NET BOOK VALUE
At 30 September 2024 26,417 12,336 66,911
At 30 September 2023 18,337 - 96,789

Plant,
Computer
and
Hire Office Motor
equipment Equipment vehicles Totals
£    £    £    £   
COST
At 1 October 2023 1,506,244 103,381 380,687 2,200,429
Additions 84,573 1,949 130,455 243,848
Disposals (33,702 ) - - (33,702 )
At 30 September 2024 1,557,115 105,330 511,142 2,410,575
DEPRECIATION
At 1 October 2023 921,840 89,424 303,130 1,409,385
Charge for year 193,012 5,545 54,336 289,226
Eliminated on disposal (27,878 ) - - (27,878 )
At 30 September 2024 1,086,974 94,969 357,466 1,670,733
NET BOOK VALUE
At 30 September 2024 470,141 10,361 153,676 739,842
At 30 September 2023 584,404 13,957 77,557 791,044

DISPLAY REFRIGERATION HIRE LIMITED (REGISTERED NUMBER: 04294590)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Hire Motor
equipment vehicles Totals
£    £    £   
COST
At 1 October 2023 331,094 56,381 387,475
Additions 75,525 - 75,525
Disposals (3,683 ) - (3,683 )
At 30 September 2024 402,936 56,381 459,317
DEPRECIATION
At 1 October 2023 73,010 37,587 110,597
Charge for year 80,587 14,095 94,682
Eliminated on disposal (1,350 ) - (1,350 )
At 30 September 2024 152,247 51,682 203,929
NET BOOK VALUE
At 30 September 2024 250,689 4,699 255,388
At 30 September 2023 258,084 18,794 276,878

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 352,408
At 30 September 2024 352,408
NET BOOK VALUE
At 30 September 2024 352,408

The valuation of investment properties were made as at 30 September 2024 by the directors on an open market basis. No depreciation is provided in respect of these properties.

On an historical cost basis these would have been included at on original cost of £352,408.

DISPLAY REFRIGERATION HIRE LIMITED (REGISTERED NUMBER: 04294590)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 595,643 550,301
Other debtors - 422
Tax 26,000 26,000
Prepayments and accrued income 19,859 18,828
641,502 595,551

Amounts falling due after more than one year:
Directors' loan accounts 80,000 80,000

Aggregate amounts 721,502 675,551

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,000 30,000
Hire purchase contracts 110,088 71,645
Trade creditors 70,324 188,026
Tax 60,614 92,911
Social security and other taxes 8,275 6,942
VAT 95,663 54,252
Pensions creditor - 1,276
Company credit card 959 9,682
Directors' current accounts 418 346
Accruals and deferred income 99,282 92,694
465,623 547,774

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 20,000
Hire purchase contracts 155,793 44,804
155,793 64,804

DISPLAY REFRIGERATION HIRE LIMITED (REGISTERED NUMBER: 04294590)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 265,881 116,449

The hire purchase liability is secured over the asset to which it relates.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
85 Ordinary £1 85 85
1 Ordinary A Shares £1 1 1
1 Ordinary B Shares £1 1 1
87 87

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
M A Febery
Balance outstanding at start of year 39,690 39,780
Amounts advanced 70,109 66,735
Amounts repaid (70,200 ) (66,825 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 39,599 39,690

N Febery
Balance outstanding at start of year 39,964 39,964
Amounts advanced 62,419 59,400
Amounts repaid (62,400 ) (59,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 39,983 39,964

Interest is being charged at 2.25% and the loans have no fixed date of repayment.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M A Febery.