Abbreviated Company Accounts - SOVEREIGN REFRIGERATION LIMITED

Abbreviated Company Accounts - SOVEREIGN REFRIGERATION LIMITED

SOVEREIGN REFRIGERATION LIMITED - Company Information

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Registered Number 01935971

SOVEREIGN REFRIGERATION LIMITED

Abbreviated Accounts

30 November 2014

SOVEREIGN REFRIGERATION LIMITED Registered Number 01935971

Abbreviated Balance Sheet as at 30 November 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 9,994 11,421
Tangible assets 3 953,234 927,209
963,228 938,630
Current assets
Stocks 17,000 16,811
Debtors 481,826 340,820
Investments 150,000 175,000
Cash at bank and in hand 286,050 231,233
934,876 763,864
Creditors: amounts falling due within one year (488,908) (338,884)
Net current assets (liabilities) 445,968 424,980
Total assets less current liabilities 1,409,196 1,363,610
Creditors: amounts falling due after more than one year (364,957) (404,468)
Total net assets (liabilities) 1,044,239 959,142
Capital and reserves
Called up share capital 4 8 8
Profit and loss account 1,044,231 959,134
Shareholders' funds 1,044,239 959,142
  • For the year ending 30 November 2014 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 14 August 2015

And signed on their behalf by:
R F Evans, Director

SOVEREIGN REFRIGERATION LIMITED Registered Number 01935971

Notes to the Abbreviated Accounts for the period ended 30 November 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention.
Exemption has been taken from preparing a cashflow statement on the grounds that the company qualifies as a small company.

Turnover policy
Turnover represents net invoiced sales of goods, excluding Value Added Tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Improvements to property - 15% on reducing balance
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Intangible assets amortisation policy
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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

Other accounting policies
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2Intangible fixed assets
£
Cost
At 1 December 2013 14,275
Additions -
Disposals -
Revaluations -
Transfers -
At 30 November 2014 14,275
Amortisation
At 1 December 2013 2,854
Charge for the year 1,427
On disposals -
At 30 November 2014 4,281
Net book values
At 30 November 2014 9,994
At 30 November 2013 11,421
3Tangible fixed assets
£
Cost
At 1 December 2013 1,091,443
Additions 73,448
Disposals (32,020)
Revaluations -
Transfers -
At 30 November 2014 1,132,871
Depreciation
At 1 December 2013 164,234
Charge for the year 35,371
On disposals (19,968)
At 30 November 2014 179,637
Net book values
At 30 November 2014 953,234
At 30 November 2013 927,209
4Called Up Share Capital
Allotted, called up and fully paid:
2014
£		 2013
£
2 Ordinary shares of £1 each 2 2
6 Ordinary Non-Voting Redeemable A - F shares shares of £1 each 6 6