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Registered number: 07850621
Hart & Co Refrigeration And Air Conditioning Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07850621
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 40,337 7,921
40,337 7,921
CURRENT ASSETS
Stocks 6 11,921 5,500
Debtors 7 66,073 107,726
Cash at bank and in hand 224,357 239,245
302,351 352,471
Creditors: Amounts Falling Due Within One Year 8 (91,997 ) (127,564 )
NET CURRENT ASSETS (LIABILITIES) 210,354 224,907
TOTAL ASSETS LESS CURRENT LIABILITIES 250,691 232,828
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,664 ) (1,505 )
NET ASSETS 243,027 231,323
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account 243,023 231,319
SHAREHOLDERS' FUNDS 243,027 231,323
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Colquhoun
Director
28/08/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hart & Co Refrigeration And Air Conditioning Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07850621 . The registered office is 44 Loyd Road, Didcot, Oxon, OX11 8JT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimats.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
A financial assets or a financial liability is recognised only when the entity becomes a party to the contratual provisions of the instruement.

Basic financial instruements are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at present value of the future payments discounted at a market rate of interest for similar debt instruement. Debt instruements are subsequently measured at amortised cost.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. Provision
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statemnet of the financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 60,000
As at 31 December 2024 60,000
Amortisation
As at 1 January 2024 60,000
As at 31 December 2024 60,000
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 1,623 53,272 1,882 56,777
Additions - 45,259 416 45,675
As at 31 December 2024 1,623 98,531 2,298 102,452
Depreciation
As at 1 January 2024 1,036 46,348 1,472 48,856
Provided during the period 89 13,047 123 13,259
As at 31 December 2024 1,125 59,395 1,595 62,115
Net Book Value
As at 31 December 2024 498 39,136 703 40,337
As at 1 January 2024 587 6,924 410 7,921
6. Stocks
2024 2023
£ £
Materials 11,921 5,500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 60,527 102,340
Other debtors 5,546 5,386
66,073 107,726
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 29,107 60,089
Other creditors 36,606 37,800
Taxation and social security 26,284 29,675
91,997 127,564
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
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