ACCOUNTS - Final Accounts

Registered Number:03313355

SCANDIA REFRIGERATION LIMITED

UNAUDITED

FINANCIAL STATEMENTS

PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025


SCANDIA REFRIGERATION LIMITED REGISTERED NUMBER:03313355

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		18,304		2,042
Tangible assets	5		2,846,868		3,226,604
			2,865,172		3,228,646
Current assets
Stocks		180,469		501,643
Debtors: amounts falling due within one year	6	1,685,177		601,917
Cash at bank and in hand		1,290,226		1,842,834
		3,155,872		2,946,394
Creditors: amounts falling due within one year	7	(1,937,245)		(2,356,463)
Net current assets			1,218,627		589,931
Total assets less current liabilities			4,083,799		3,818,577
Provisions for liabilities
Deferred tax		(180,005)		(247,745)
			(180,005)		(247,745)
Net assets			3,903,794		3,570,832

Capital and reserves
Called up share capital	100	100
Profit and loss account	3,903,694	3,570,732
	3,903,794	3,570,832

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SCANDIA REFRIGERATION LIMITED REGISTERED NUMBER:03313355

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 December 2025.

A Mockford

Director

The notes on pages 3 to 10 form part of these financial statements.

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SCANDIA REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Scandia Refrigeration Limited is a private company limited bt share capital, incorporated in England and Wales, registration number 03313355. The address of the registered office is 5 Davy Road, Clacton on Sea, Essex, CO15 4XD.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The directors' are satisfied that the Company has adequate resources to continue in operational existence for the foreseeable future, and for a period of at least 12 months from date of approving these financial statements.
For this reason the directors' has adopted the going concern basis in preparing the accounts.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounding to £1.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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SCANDIA REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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SCANDIA REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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SCANDIA REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.12

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following bases:

Computer software

25%

straight line

2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using straight-line method and reducing balance basis,.

Depreciation is provided on the following basis:

Long-term leasehold property	-	10%	straight line
Plant and machinery	-	15%	reducing balance
Motor vehicles	-	25%	reducing balance
Fixtures and fittings	-	15%	reducing balance
Office equipment	-	33%	straight line
Other fixed assets	-	15%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

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SCANDIA REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Employees

The average monthly number of employees, including directors, during the year was 43 (2024 - 47).

4.	Intangible assets

		Computer software
		£
	Cost
	At 1 April 2024	30,730
	Additions	18,000
	Disposals	(11,780)
	At 31 March 2025	36,950
	Amortisation
	At 1 April 2024	28,688
	Charge for the year on owned assets	1,738
	On disposals	(11,780)
	At 31 March 2025	18,646
	Net book value
	At 31 March 2025	18,304
	At 31 March 2024	2,042

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	SCANDIA REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS		FOR THE YEAR ENDED 31 MARCH 2025

	5.	Tangible fixed assets

	Freehold property	Long-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment	Other fixed assets	Total
	£	£	£	£	£	£	£	£
Cost or valuation
At 1 April 2024	1,860,004	51,726	1,779,989	830,521	37,632	64,716	112,594	4,737,182
Additions	-	-	36,078	107,752	803	438	-	145,071
Disposals	-	-	(511,562)	(243,912)	(31,457)	(44,631)	-	(831,562)
At 31 March 2025	1,860,004	51,726	1,304,505	694,361	6,978	20,523	112,594	4,050,691
Depreciation
At 1 April 2024	-	38,518	939,016	369,694	26,212	62,812	74,326	1,510,578
Charge for the year	-	5,173	126,711	85,541	511	1,341	5,740	225,017
Disposals	-	-	(351,351)	(112,951)	(22,839)	(44,631)	-	(531,772)
At 31 March 2025	-	43,691	714,376	342,284	3,884	19,522	80,066	1,203,823
Net book value
At 31 March 2025	1,860,004	8,035	590,129	352,077	3,094	1,001	32,528	2,846,868
At 31 March 2024	1,860,004	13,208	840,973	460,827	11,420	1,904	38,268	3,226,604

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SCANDIA REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	1,474,206	557,560
Other debtors	200,313	35,558
Prepayments and accrued income	10,658	8,799
	1,685,177	601,917

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank overdrafts	-	596
Trade creditors	1,010,601	751,641
Corporation tax	199,530	382,475
Other taxation and social security	121,530	62,673
Other creditors	572,251	1,027,328
Accruals and deferred income	33,333	131,750
	1,937,245	2,356,463

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SCANDIA REFRIGERATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Related party transactions

The company paid rent of £Nil (2024: £112,400) during the year to Suffolk Pads Limited, a company under common control. At the year end the company owed Suffolk Pads Limited £559,966 (2024: 863,448).
Mr D C Mockford
The balance at 1 April 2024 for Mr D C Mockford's loan account was £21,419. The repayments and amounts drawn within the year totalled £506,129, and the amounts introduced during the year totalled £223,642 (2024 : £nil), leaving a debit balance of £261,089 at the year end.
The directors loan accrues interest at 10% per annum when the balance is an amount owing to the director. The net interest payable to Mr D C Mockford for the year totalled £233 (2024 : £4,230),
Mrs P Mockford
The balance at 1 April 2024 for Mrs P Mockford's loan account was £2,289. The repayments and amounts drawn within the year totalled £225,000, and the amounts introduced during the year totalled £126,177 (2024 : £nil), leaving a debit balance of £96,534 at the year end.
The directors loan accrues interest at 10% per annum when the balance is an amount owing to the director. The net interest payable to Mrs P Mockford for the year totalled £25 (2024 : £3,196),
Mr A Mockford
The balance at 1 April 2024 for Mr A Mockford's loan account was £40,400. The amounts introduced during the year totalled £15,000 (2024 : £nil), leaving a balance of £55,400 at the year end.
The directors loan accrues interest at 10% per annum when the balance is an amount owing to the director. The net interest payable to Mr A Mockford for the year totalled £4,152 (2024 : £3,232),
Mr S Mockford
The balance at 1 April 2024 for Mr S Mockford's loan account was £85,000. The amounts introduced during the year totalled £21,000 (2024 : £60,000), leaving a balance of £106,000 at the year end.
The directors loan accrues interest at 10% per annum when the balance is an amount owing to the director. The net interest payable to Mr S Mockford for the year totalled £6,870 (2024 : £3,538).

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