Refrigeration Spares Limited 31/12/2025 iXBRL

Company registration number: 00408681

Refrigeration Spares Limited

Trading as Refrigeration Spares

Unaudited filleted abridged financial statements

for the financial year ended 31 December 2025

Refrigeration Spares Limited

Contents

Directors and other information

Directors responsibilities statement

Statement of comprehensive income

Abridged statement of financial position

Notes to the financial statements

Refrigeration Spares Limited

Directors and other information


Directors	Mr. P A Warren	( Resigned 5 March 2025 )
	Mr. Seamus Kerr
	Mr. Remco Boerefijn
	Mr. Padraig Gillen


Secretary	Mr. Seamus Kerr


Company number	00408681


Registered office	Unit E, Project Park
	North Crescent
	London, England
	E16 4TQ


Business address	Unit E, Project Park
	North Crescent
	London, England
	E16 4TQ

Refrigeration Spares Limited

Directors responsibilities statement

Year ended 31 December 2025

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Refrigeration Spares Limited

Abridged statement of financial position

31 December 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	7	779,026		887,017
		_______		_______
			779,026		887,017

Current assets
Stocks	8	1,328,011		918,102
Debtors		1,186,893		1,099,829
Cash at bank and in hand		123,459		57,084
		_______		_______
		2,638,363		2,075,015
Creditors: amounts falling due
within one year		( 960,764)		( 417,586)
		_______		_______
Net current assets			1,677,599		1,657,429
			_______		_______
Total assets less current liabilities			2,456,625		2,544,446


Provisions for liabilities			( 6,706)		( 6,706)

			_______		_______
Net assets			2,449,919		2,537,740
			_______		_______

Capital and reserves
Called up share capital			2,000		2,000
Profit and loss account			2,447,919		2,535,740
			_______		_______
Shareholders funds			2,449,919		2,537,740
			_______		_______

For the year ending 31 December 2025 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 financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 20 August 2026 , and are signed on behalf of the board by:

Mr. Seamus Kerr

Director

Company registration number: 00408681

Refrigeration Spares Limited

Notes to the financial statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in . The address of the registered office is Unit E, Project Park, North Crescent, London, England, E16 4TQ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in Sterling, which is the functional currency of the entity.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The company meets its day to day working capital requirements through cash generated from operations and related party borrowings.

The company's forecasts and projections for the next twelve months show that the company should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance.

Consolidation

The company has taken advantage of the exemption under Section 401 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

The company's immediate parent is lpcom UK, incorporated in England. The ultimate parent is Green Leaf Topco BV, incorporated in Belgium.

The most senior parent entity producing publicly available financial statements is Green Leaf Topco BV. These financial statements are available upon request from Brusselsesteenweg 94 Bus 201 Melle, 9090, Belgium.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	25 %	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 estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

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 statement of 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.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

4. Staff costs

The average number of persons employed by the company during the year amounted to 25 (2024: 23 ).

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	629,674	553,845
Social security costs	71,800	53,515
Other pension costs	21,958	18,009
	_______	_______
	723,432	625,369
	_______	_______

5. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	8,127	58,546
	_______	_______

6. Dividends

Equity dividends

	2025	2024
	£	£
Dividends proposed before the year end and recognised as a liability	400,000	10,340,752
	_______	_______

7. Tangible assets


		£
	Cost
	At 1 January 2025	1,221,071
	Additions	55,249
	Disposals	( 157,005)
		_______
	At 31 December 2025	1,119,315
		_______
	Depreciation
	At 1 January 2025	334,054
	Charge for the year	43,740
	Disposals	( 37,505)
		_______
	At 31 December 2025	340,289
		_______
	Carrying amount
	At 31 December 2025	779,026
		_______
	At 31 December 2024	887,017
		_______

8. Stocks

	2025	2024
	£	£
Finished goods and goods for resale	1,328,011	918,102
	_______	_______

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Deferred tax	6,706	6,706
	_______	_______

10. Related party transactions

During the financial year the company had purchases and sales to and from connected companies within the group. All purchases and sales were normal trading transactions which were all processed at arms length.

11. Parent company

The company's immediate parent is lpcom UK, incorporated in England. The ultimate parent is Green Leaf Topco BV, incorporated in Belguim.

The most senior entity producing publicly available financial statements is Green Leaf Topco BV, These financial statements are available upon request from Brusselsesteenweg 94 Bus 201 Melle, 9090, Belgium.