Company No: 05914880 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Christine Dunmore
	Kevin Dunmore

SECRETARY

Christine Dunmore

REGISTERED OFFICE	Lowin House
	Tregolls road
	Truro
	United Kingdom

BUSINESS ADDRESS	Unit 1
	Victoria Business Park
	Roche
	Cornwall
	PL26 8LG

COMPANY NUMBER

05914880 (England and Wales)

CHARTERED ACCOUNTANTS	Francis Clark LLP
	Lowin House
	Tregolls Road
	Truro
	Cornwall TR1 2NA

	Note	2021		2020
		£		£
Fixed assets
Tangible assets	4	222,983		199,110
		222,983		199,110
Current assets
Stocks	5	86,106		61,740
Debtors	6	130,508		96,638
Cash at bank and in hand	7	44,529		28,252
		261,143		186,630
Creditors
Amounts falling due within one year	8	( 223,751)		( 197,101)
Net current assets/(liabilities)		37,392		(10,471)
Total assets less current liabilities		260,375		188,639
Creditors
Amounts falling due after more than one year	9	( 139,065)		( 135,512)
Provisions for liabilities	10	( 21,122)		( 16,399)
Net assets		100,188		36,728
Capital and reserves
Called-up share capital	11	2		2
Profit and loss account		100,186		36,726
Total shareholders' funds		100,188		36,728

For the financial year ending 30 September 2021 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 financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of K Dunmore Refrigeration Limited (registered number: 05914880) were approved and authorised for issue by the Board of Directors on 01 April 2022. They were signed on its behalf by:

Christine Dunmore Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

K Dunmore Refrigeration Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls road, Truro, United Kingdom. The principal place of business is Unit 1, Victoria Business Park, Roche, Cornwall, PL26 8LG.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

In preparing and approving these financial statements the directors have given due consideration to going concern risks, and in particular the impact of the COVID-19 outbreak. The pandemic has led to widespread, profound economic shocks, and has caused interruptions to normal operations under government guidelines. These have been effectively managed due to the robust systems in place and use of the government support schemes. Whilst recognising that there is a degree of uncertainty, the directors are satisfied that the company will be able to operate within their available facilities and continue as a going concern for the foreseeable future – being a period no less than 12 month from the date of approval of these financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services relating to refrigeration engineering and equipment rental. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	15 - 25 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		6

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 October 2020	85,000		85,000
At 30 September 2021	85,000		85,000
Accumulated amortisation
At 01 October 2020	85,000		85,000
At 30 September 2021	85,000		85,000
Net book value
At 30 September 2021	0		0
At 30 September 2020	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 October 2020	102,510		141,837		40,039		284,386
Additions	0		30,652		18,595		49,247
At 30 September 2021	102,510		172,489		58,634		333,633
Accumulated depreciation
At 01 October 2020	0		61,530		23,746		85,276
Charge for the financial year	0		16,651		8,723		25,374
At 30 September 2021	0		78,181		32,469		110,650
Net book value
At 30 September 2021	102,510		94,308		26,165		222,983
At 30 September 2020	102,510		80,307		16,293		199,110

5. Stocks

	2021		2020
	£		£
Stocks	55,799		47,344
Work in progress	30,307		14,396
	86,106		61,740

6. Debtors

	2021		2020
	£		£
Trade debtors	101,061		87,522
Other debtors	29,447		9,116
	130,508		96,638

7. Cash and cash equivalents

	2021		2020
	£		£
Cash at bank and in hand	44,529		28,252

8. Creditors: amounts falling due within one year

	2021		2020
	£		£
Bank loans	3,059		2,947
Trade creditors	13,253		22,758
Other creditors	161,296		147,741
Corporation tax	11,176		4,459
Other taxation and social security	30,889		17,881
Obligations under finance leases and hire purchase contracts	4,078		1,315
	223,751		197,101

9. Creditors: amounts falling due after more than one year

	2021		2020
	£		£
Bank loans	32,267		35,512
Obligations under finance leases and hire purchase contracts	6,798		0
Other creditors	100,000		100,000
	139,065		135,512

There are no amounts included above in respect of which any security has been given by the small entity.

10. Provision for liabilities

	2021		2020
	£		£
Deferred tax	21,122		16,399

11. Called-up share capital

	2021		2020
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2