Registration number: 01736663

South West Refrigeration Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

South West Refrigeration Limited

Company Information

Directors

Mr T G Turner Mr P M Turner Mrs A L Turner Mrs M E Turner

Registered office

C/o Wortham Jaques Ltd 130A High Street Crediton Devon EX17 3LQ

Accountants

Wortham Jaques Limited Chartered Accountants & Business Advisers130a High Street, Crediton, Devon EX17 3LQ

South West Refrigeration Limited

(Registration number: 01736663)
Balance Sheet as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	103,663	110,362
Current assets
Stocks	5	460,056	558,757
Debtors	6	336,514	323,655
Cash at bank and in hand		1,003,825	1,178,865
		1,800,395	2,061,277
Creditors: Amounts falling due within one year	7	(519,813)	(684,705)
Net current assets		1,280,582	1,376,572
Total assets less current liabilities		1,384,245	1,486,934
Creditors: Amounts falling due after more than one year	7	(358,231)	(396,403)
Provisions for liabilities		(25,020)	(24,049)
Net assets		1,000,994	1,066,482
Capital and reserves
Called up share capital		1,000	1,000
Retained earnings		999,994	1,065,482
Shareholders' funds		1,000,994	1,066,482

For the financial year ending 30 April 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 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.

South West Refrigeration Limited

(Registration number: 01736663)
Balance Sheet as at 30 April 2025

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 November 2025 and signed on its behalf by:
 

......................................... Mr P M Turner Director

South West Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/o Wortham Jaques Ltd
130A High Street
Crediton
Devon
EX17 3LQ
United Kingdom

These financial statements were authorised for issue by the Board on 17 November 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.

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.

South West Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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 balance sheet 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
Buildings	10% on straight line basis
Plant and machinery	25% on straight line basis
Motor vehicles	25% on straight line basis
Office equipment	25% on straight line basis

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

South West Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 14 (2024 - 15).

South West Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 May 2024	51,387	67,946	295,722	415,055
Additions	-	1,500	43,180	44,680
Disposals	-	-	(34,924)	(34,924)
At 30 April 2025	51,387	69,446	303,978	424,811
Depreciation
At 1 May 2024	37,219	63,264	204,088	304,571
Charge for the year	2,816	1,919	46,766	51,501
Eliminated on disposal	-	-	(34,924)	(34,924)
At 30 April 2025	40,035	65,183	215,930	321,148
Carrying amount
At 30 April 2025	11,352	4,263	88,048	103,663
At 30 April 2024	14,168	4,560	91,634	110,362

Included within the net book value of land and buildings above is £11,353 (2024 - £14,168) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Other inventories	460,056	558,757

6

Debtors

Current	2025 £	2024 £
Trade debtors	309,952	302,117
Prepayments	26,560	21,538
Other debtors	2	-
	336,514	323,655

South West Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	118,661	88,771
Taxation and social security	175,429	136,747
Accruals and deferred income	153,442	144,948
Other creditors	72,281	314,239
	519,813	684,705

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Other financial liabilities	358,231	396,403

South West Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £91,350 (2024 - £121,800). The company has a seven year lease term, reviewed after 4 years, with annual rent of £30,450.

9	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	17,264	17,596

South West Refrigeration Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

10	Parent and ultimate parent undertaking

The ultimate controlling party is the company's directors.