REGISTERED NUMBER: 02738472 (England and Wales)

INDUSTRIAL REFRIGERATION SERVICES

LIMITED

Unaudited Financial Statements for the Year Ended 28 February 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

D Downes

I D Sallows

A J Thom

S N Davis

SECRETARY:

D B Downes

REGISTERED OFFICE:

Unit 5, Aston Court

George Road

Bromsgrove Technology Park

Bromsgrove

Worcestershire

B60 3AL

REGISTERED NUMBER:

02738472 (England and Wales)

ACCOUNTANTS:

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Intangible assets

4

14,365

21,850

Tangible assets

5

407,711

359,857

422,076

381,707

CURRENT ASSETS

Stocks

14,538

15,669

Debtors

6

1,855,047

1,802,416

Cash at bank

901,895

467,555

2,771,480

2,285,640

CREDITORS

Amounts falling due within one year

7

1,599,885

1,400,998

NET CURRENT ASSETS

1,171,595

884,642

TOTAL ASSETS LESS CURRENT LIABILITIES

1,593,671

1,266,349

CREDITORS

Amounts falling due after more than one year

8

(149,229

)

(142,399

)

PROVISIONS FOR LIABILITIES

(97,204

)

(84,939

)

NET ASSETS

1,347,238

1,039,011

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

1,327,238

1,019,011

SHAREHOLDERS' FUNDS

1,347,238

1,039,011

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 August 2026 and were signed on its behalf by:

D B Downes - Director

1.	STATUTORY INFORMATION

Industrial Refrigeration Services 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the service provided to date based on a proportion of the expected consideration at completion.

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.

Engineers System Development is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33.33% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% Straight Line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2025 - 45 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2025

and 28 February 2026

156,193

AMORTISATION

At 1 March 2025

134,343

Charge for year

7,485

At 28 February 2026

141,828

NET BOOK VALUE

At 28 February 2026

14,365

At 28 February 2025

21,850

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 March 2025

34,600

588,611

139,648

762,859

Additions

-

166,078

14,978

181,056

Disposals

(27,526

)

(78,453

)

(80,632

)

(186,611

)

At 28 February 2026

7,074

676,236

73,994

757,304

DEPRECIATION

At 1 March 2025

33,159

270,999

98,844

403,002

Charge for year

1,386

114,985

16,832

133,203

Eliminated on disposal

(27,527

)

(78,453

)

(80,632

)

(186,612

)

At 28 February 2026

7,018

307,531

35,044

349,593

NET BOOK VALUE

At 28 February 2026

56

368,705

38,950

407,711

At 28 February 2025

1,441

317,612

40,804

359,857

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 March 2025

493,163

Additions

166,078

Transfer to ownership

(103,470

)

At 28 February 2026

555,771

DEPRECIATION

At 1 March 2025

175,551

Charge for year

114,985

Transfer to ownership

(96,228

)

At 28 February 2026

194,308

NET BOOK VALUE

At 28 February 2026

361,463

At 28 February 2025

317,612

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade debtors

890,107

964,683

Amounts owed by group undertakings

946,000

826,000

Other debtors

2,380

267

Prepayments

16,560

11,466

1,855,047

1,802,416

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Hire purchase contracts (see note 9)

124,665

99,065

Trade creditors

894,816

710,554

Social security and other taxes

209,468

167,778

VAT

62,488

161,419

Other creditors

65,548

77,483

Accrued expenses

242,900

184,699

1,599,885

1,400,998

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.26

28.2.25

£

£

Hire purchase contracts (see note 9)

149,229

142,399

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

28.2.26

28.2.25

£

£

Net obligations repayable:

Within one year

124,665

99,065

Between one and five years

149,229

142,399

273,894

241,464

Non-cancellable

operating leases

28.2.26

28.2.25

£

£

Within one year

33,135

28,369

Between one and five years

23,072

16,870

56,207

45,239

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Downes by virtue of his majority holding of the issued share capital of the parent company, Industrial Refrigeration Services Group Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Industrial Refrigeration Services Limited for the year ended 28 February 2026 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Industrial Refrigeration Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Industrial Refrigeration Services Limited and state those matters that we have agreed to state to the Board of Directors of Industrial Refrigeration Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Industrial Refrigeration Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Industrial Refrigeration Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Industrial Refrigeration Services Limited. You consider that Industrial Refrigeration Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Industrial Refrigeration Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

24 August 2026