Horsham Refrigeration Limited 04669594 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of supply and installation of refrigeration systems. Digita Accounts Production Advanced 6.30.9574.0 true 04669594 2024-01-01 2024-12-31 04669594 2024-12-31 04669594 core:CurrentFinancialInstruments 2024-12-31 04669594 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04669594 core:Goodwill 2024-12-31 04669594 core:FurnitureFittingsToolsEquipment 2024-12-31 04669594 core:MotorVehicles 2024-12-31 04669594 bus:SmallEntities 2024-01-01 2024-12-31 04669594 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04669594 bus:FilletedAccounts 2024-01-01 2024-12-31 04669594 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04669594 bus:RegisteredOffice 2024-01-01 2024-12-31 04669594 bus:Director2 2024-01-01 2024-12-31 04669594 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04669594 core:Goodwill 2024-01-01 2024-12-31 04669594 core:FurnitureFittings 2024-01-01 2024-12-31 04669594 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 04669594 core:MotorCars 2024-01-01 2024-12-31 04669594 core:MotorVehicles 2024-01-01 2024-12-31 04669594 core:OfficeEquipment 2024-01-01 2024-12-31 04669594 countries:England 2024-01-01 2024-12-31 04669594 2023-12-31 04669594 core:Goodwill 2023-12-31 04669594 core:FurnitureFittingsToolsEquipment 2023-12-31 04669594 core:MotorVehicles 2023-12-31 04669594 2023-01-01 2023-12-31 04669594 2023-12-31 04669594 core:CurrentFinancialInstruments 2023-12-31 04669594 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04669594 core:FurnitureFittingsToolsEquipment 2023-12-31 04669594 core:MotorVehicles 2023-12-31 iso4217:GBP xbrli:pure

Horsham Refrigeration Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2024
Registration number: 04669594

Horsham Refrigeration Limited

Contents

Statement of financial position | 1
Notes to the Unaudited Financial Statements | 2 to 6

Horsham Refrigeration Limited

(Registration number: 04669594)
Statement of financial position as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 5 | 9,820 | 13,109
Current assets |  |  |
Debtors | 6 | 15,705 | 12,699
Cash at bank and in hand |  | 24,706 | 43,048
|  | 40,411 | 55,747
Creditors: Amounts falling due within one year | 7 | (16,049) | (19,629)
Net current assets |  | 24,362 | 36,118
Total assets less current liabilities |  | 34,182 | 49,227
Provisions for liabilities |  | (1,865) | (2,490)
Net assets |  | 32,317 | 46,737
Capital and reserves |  |  |
Called up share capital |  | 22 | 22
Retained earnings |  | 32,295 | 46,715
Shareholders' funds |  | 32,317 | 46,737

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.

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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 24 April 2025 and signed on its behalf by:

......................................... AD Coppard Director

Horsham Refrigeration 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.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 24 April 2025.

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.

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.

Horsham Refrigeration Limited

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

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Furniture and fittings | 15% reducing balance
Motor vehicles | 25% reducing balance
Office and computer equipment | 33% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | Over 5 years

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.

Horsham Refrigeration Limited

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

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 directors) during the year, was 2 (2023 - 2).

Horsham Refrigeration Limited

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

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 January 2024 | 20,000 | 20,000
At 31 December 2024 | 20,000 | 20,000
Amortisation
At 1 January 2024 | 20,000 | 20,000
At 31 December 2024 | 20,000 | 20,000
Carrying amount
At 31 December 2024 | - | -

5 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2024 | 4,673 | 24,281 | 28,954
At 31 December 2024 | 4,673 | 24,281 | 28,954
Depreciation
At 1 January 2024 | 4,653 | 11,192 | 15,845
Charge for the year | 17 | 3,272 | 3,289
At 31 December 2024 | 4,670 | 14,464 | 19,134
Carrying amount
At 31 December 2024 | 3 | 9,817 | 9,820
At 31 December 2023 | 20 | 13,089 | 13,109

6 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 13,106 | 12,121
Prepayments | 873 | 578
Other debtors | 1,726 | -
| 15,705 | 12,699

Horsham Refrigeration Limited

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

7 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Trade creditors | 5,793 | 2,004
Taxation and social security | 5,435 | 6,636
Accruals and deferred income | 3,089 | 2,984
Other creditors | 1,732 | 8,005
| 16,049 | 19,629