Acorah Software Products - Accounts Production 19.3.600 false true 31 March 2025 1 April 2024 false 1 April 2025 31 March 2026 31 March 2026 02009258 Mr Phillip King Mr Stephen Pickin Mr Paul Knighton Mr Matthew Gallacher Mr Samson Roberts the directors true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02009258 2025-03-31 02009258 2026-03-31 02009258 2025-04-01 2026-03-31 02009258 frs-core:CurrentFinancialInstruments 2026-03-31 02009258 frs-core:Non-currentFinancialInstruments 2026-03-31 02009258 frs-core:BetweenOneFiveYears 2026-03-31 02009258 frs-core:FurnitureFittings 2026-03-31 02009258 frs-core:FurnitureFittings 2025-04-01 2026-03-31 02009258 frs-core:FurnitureFittings 2025-03-31 02009258 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2026-03-31 02009258 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-04-01 2026-03-31 02009258 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2025-03-31 02009258 frs-core:MotorVehicles 2026-03-31 02009258 frs-core:MotorVehicles 2025-04-01 2026-03-31 02009258 frs-core:MotorVehicles 2025-03-31 02009258 frs-core:WithinOneYear 2026-03-31 02009258 frs-core:OtherReservesSubtotal 2025-04-01 2026-03-31 02009258 frs-core:OtherReservesSubtotal 2025-03-31 02009258 frs-core:OtherReservesSubtotal 2026-03-31 02009258 frs-core:SharePremium 2025-03-31 02009258 frs-core:SharePremium 2026-03-31 02009258 frs-core:ShareCapital 2026-03-31 02009258 frs-core:RetainedEarningsAccumulatedLosses 2025-04-01 2026-03-31 02009258 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2025-03-31 02009258 frs-core:RetainedEarningsAccumulatedLosses 2026-03-31 02009258 frs-bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 02009258 frs-bus:FilletedAccounts 2025-04-01 2026-03-31 02009258 frs-bus:SmallEntities 2025-04-01 2026-03-31 02009258 frs-bus:AuditExempt-NoAccountantsReport 2025-04-01 2026-03-31 02009258 frs-bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 02009258 1 2025-04-01 2026-03-31 02009258 frs-bus:Director1 2025-04-01 2026-03-31 02009258 frs-bus:Director2 2025-04-01 2026-03-31 02009258 frs-bus:Director3 2025-04-01 2026-03-31 02009258 frs-bus:Director4 2025-04-01 2026-03-31 02009258 frs-bus:Director5 2025-04-01 2026-03-31 02009258 frs-countries:EnglandWales 2025-04-01 2026-03-31 02009258 2024-03-31 02009258 2025-03-31 02009258 2024-04-01 2025-03-31 02009258 frs-core:CurrentFinancialInstruments 2025-03-31 02009258 frs-core:Non-currentFinancialInstruments 2025-03-31 02009258 frs-core:BetweenOneFiveYears 2025-03-31 02009258 frs-core:MotorVehicles 2024-04-01 2025-03-31 02009258 frs-core:WithinOneYear 2025-03-31 02009258 frs-core:OtherReservesSubtotal 2025-03-31 02009258 frs-core:SharePremium 2025-03-31 02009258 frs-core:ShareCapital 2025-03-31 02009258 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31
Registered number: 02009258
REFRIGERATION SOUTH WEST LTD.
Unaudited Financial Statements
For The Year Ended 31 March 2026
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02009258
2026 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 141,082 137,468
141,082 137,468
CURRENT ASSETS
Stocks 5 34,839 43,024
Debtors 6 140,944 97,436
Cash at bank and in hand 706,431 305,781
882,214 446,241
Creditors: Amounts Falling Due Within One Year 7 (637,511 ) (131,562 )
NET CURRENT ASSETS (LIABILITIES) 244,703 314,679
TOTAL ASSETS LESS CURRENT LIABILITIES 385,785 452,147
Creditors: Amounts Falling Due After More Than One Year 8 (6,070 ) (34,238 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (26,770 ) (25,303 )
NET ASSETS 352,945 392,606
CAPITAL AND RESERVES
Called up share capital 11 10,590 10,590
Share premium account 4,410 4,410
Other reserves 195,667 195,799
Profit and Loss Account 142,278 181,807
SHAREHOLDERS' FUNDS 352,945 392,606
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For the year ending 31 March 2026 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 Paul Knighton
Director
31st July 2026
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
REFRIGERATION SOUTH WEST LTD. is a private company, limited by shares, incorporated in England & Wales, registered number 02009258 . The registered office is Unit 5C Palmers Way, Trenant Industrial Estate, Wadebridge, Cornwall, PL27 6HB.
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. 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:
Leasehold 10% Straight line
Motor Vehicles 15-25% Reducing balance & 30% Straight line
Fixtures & Fittings 15% - 33% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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.
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2.6. 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2025: 7)
7 7
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2025 15,056 202,906 25,149 243,111
Additions - 78,678 2,193 80,871
Disposals - (65,485 ) - (65,485 )
As at 31 March 2026 15,056 216,099 27,342 258,497
Depreciation
As at 1 April 2025 7,862 77,841 19,940 105,643
Provided during the period 1,505 45,683 2,444 49,632
Disposals - (37,860 ) - (37,860 )
As at 31 March 2026 9,367 85,664 22,384 117,415
Net Book Value
As at 31 March 2026 5,689 130,435 4,958 141,082
As at 1 April 2025 7,194 125,065 5,209 137,468
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2026 2025
£ £
Motor Vehicles 130,435 125,065
5. Stocks
2026 2025
£ £
Stock 34,839 29,220
Work in progress - 13,804
34,839 43,024
6. Debtors
2026 2025
£ £
Due within one year
Trade debtors 99,853 86,930
Amounts recoverable on contracts 27,826 -
Other debtors 13,265 10,506
140,944 97,436
7. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 33,574 14,936
Trade creditors 44,634 32,116
Bank loans and overdrafts 2,500 10,000
Other creditors 386,906 21,135
Taxation and social security 169,897 53,375
637,511 131,562
8. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 6,070 31,738
Bank loans - 2,500
6,070 34,238
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9. Secured Creditors
The net book value of assets held under hire purchase agreements at the year end was £130,435 (2025: £125,065)
Of the creditors the following amounts are secured.
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 39,644 46,674
10. Obligations Under Finance Leases and Hire Purchase
2026 2025
£ £
The future minimum finance lease payments are as follows:
Not later than one year 33,574 14,936
Later than one year and not later than five years 6,070 31,738
39,644 46,674
39,644 46,674
11. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 10,590 10,590
9,000 £1 A Ordinary shares fully paid and 1,590 £1 B Ordinary shares fully paid
12. Reserves
Share Premium Other reserves Profit and Loss Account
£ £ £
As at 1 April 2025 4,410 195,799 181,807
Profit for the year and total comprehensive income - - 100,339
Dividends paid - - (140,000)
Transfer to/from Other Reserves - - 132
Transfer to/from Profit & Loss Account - (132 ) -
As at 31 March 2026 4,410 195,667 142,278
Other reserves includes A Ordinary share reserve. This includes profits that have been ring-fenced for distribution to A Ordinary shareholders.
Share premium account includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
Profit and loss accounts includes all current and prior period retained profits and losses.
13. Ultimate Controlling Party
The company's ultimate controlling party are the directors by virtue of their ownership of 100% of the issued share capital in the company.
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