Company No: 05914880 (England and Wales)

Contents

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

DIRECTORS	C Dunmore
	K Dunmore

SECRETARY

C 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	2023		2022
		£		£
Fixed assets
Tangible assets	4	244,984		235,747
		244,984		235,747
Current assets
Stocks	5	74,004		90,847
Debtors	6	145,441		153,539
Cash at bank and in hand	7	62,477		54,755
		281,922		299,141
Creditors: amounts falling due within one year	8	( 239,914)		( 250,992)
Net current assets		42,008		48,149
Total assets less current liabilities		286,992		283,896
Creditors: amounts falling due after more than one year	9	( 126,663)		( 131,871)
Provision for liabilities	10	( 25,302)		( 23,547)
Net assets		135,027		128,478
Capital and reserves
Called-up share capital	11	2		2
Profit and loss account		135,025		128,476
Total shareholders' funds		135,027		128,478

For the financial year ending 30 September 2023 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings 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 02 April 2024. They were signed on its behalf by:

C 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

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the 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
	3 years straight line
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.

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

	2023		2022
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		7

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 October 2022	85,000		85,000
At 30 September 2023	85,000		85,000
Accumulated amortisation
At 01 October 2022	85,000		85,000
At 30 September 2023	85,000		85,000
Net book value
At 30 September 2023	0		0
At 30 September 2022	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 October 2022	102,510		191,097		61,039		354,646
Additions	0		27,479		9,950		37,429
At 30 September 2023	102,510		218,576		70,989		392,075
Accumulated depreciation
At 01 October 2022	0		95,080		23,819		118,899
Charge for the financial year	0		18,472		9,720		28,192
At 30 September 2023	0		113,552		33,539		147,091
Net book value
At 30 September 2023	102,510		105,024		37,450		244,984
At 30 September 2022	102,510		96,017		37,220		235,747

5. Stocks

	2023		2022
	£		£
Stocks	59,124		53,552
Work in progress	14,880		37,295
	74,004		90,847

6. Debtors

	2023		2022
	£		£
Trade debtors	95,201		123,420
Other debtors	50,240		30,119
	145,441		153,539

7. Cash and cash equivalents

	2023		2022
	£		£
Cash at bank and in hand	62,477		54,755

8. Creditors: amounts falling due within one year

	2023		2022
	£		£
Bank loans	3,453		3,175
Trade creditors	35,266		39,065
Corporation tax	765		5,164
Other taxation and social security	20,288		30,976
Obligations under finance leases and hire purchase contracts	2,719		4,078
Other creditors	177,423		168,534
	239,914		250,992

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

	2023		2022
	£		£
Bank loans	26,663		29,152
Obligations under finance leases and hire purchase contracts	0		2,719
Other creditors	100,000		100,000
	126,663		131,871

10. Provision for liabilities

	2023		2022
	£		£
Deferred tax	25,302		23,547

11. Called-up share capital

	2023		2022
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2