Display Refrigeration Hire Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04294590 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2017

for

DISPLAY REFRIGERATION HIRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M A Febery

REGISTERED OFFICE:

Unit A

Centurion House

Olympus Business Park

Quedgeley

Gloucester

GL2 4NF

REGISTERED NUMBER:

04294590 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Bath House

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

419,762

235,677

CURRENT ASSETS

Debtors

5

284,442

426,528

Cash at bank

172,989

108,453

457,431

534,981

CREDITORS

Amounts falling due within one year

6

263,386

307,872

NET CURRENT ASSETS

194,045

227,109

TOTAL ASSETS LESS CURRENT LIABILITIES

613,807

462,786

CREDITORS

Amounts falling due after more than one year

7

(81,325

)

(45,410

)

PROVISIONS FOR LIABILITIES

(52,359

)

(28,683

)

NET ASSETS

480,123

388,693

CAPITAL AND RESERVES

Called up share capital

87

85

Capital redemption reserve

15

15

Retained earnings

480,021

388,593

SHAREHOLDERS' FUNDS

480,123

388,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director on 22 March 2018 and were signed by:

M A Febery - Director

1.	STATUTORY INFORMATION

Display Refrigeration Hire Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

These financial statements for the year ended 30 September 2017 are the first financial statements that comply

with FRS 102 Section 1A "Small Entities". The date of transition is 1 October 2015.

FRS102 Section 1A "Small Entities" transition adjustments

No adjustments were made during the transition to FRS102 Section 1A "Small Entities":

Going concern

The directors have, at the time of approving the financial statements, a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover represents the invoiced value of goods and services provided net of value added tax. Revenue is

recognised at the point of delivery of the hired goods and services.

Tangible fixed assets

All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful

economic life of that asset as follows:

Leasehold Property - Term of lease

Hire Equipment - 4-5 years straight line

Motor Vehicles - 4 years straight line

Computers & Office Equipment - 4-10 years straight line

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period on a

straight line basis where this is not materially different to the sum of the digits basis. The capital element of

the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 .

4.	TANGIBLE FIXED ASSETS

Plant,

Computer

and

Short

Hire

Office

Motor

leasehold

equipment

Equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 October 2016

28,369

1,091,075

76,720

184,839

1,381,003

Additions

-

187,518

2,167

120,613

310,298

Disposals

-

(52,164

)

-

(96,600

)

(148,764

)

At 30 September 2017

28,369

1,226,429

78,887

208,852

1,542,537

DEPRECIATION

At 1 October 2016

27,167

945,830

72,820

99,509

1,145,326

Charge for year

1,202

69,420

2,183

43,119

115,924

Eliminated on disposal

-

(50,953

)

-

(87,522

)

(138,475

)

At 30 September 2017

28,369

964,297

75,003

55,106

1,122,775

NET BOOK VALUE

At 30 September 2017

-

262,132

3,884

153,746

419,762

At 30 September 2016

1,202

145,245

3,900

85,330

235,677

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2016

88,239

Additions

120,613

At 30 September 2017

208,852

DEPRECIATION

At 1 October 2016

13,803

Charge for year

41,303

At 30 September 2017

55,106

NET BOOK VALUE

At 30 September 2017

153,746

At 30 September 2016

74,436

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

259,283

398,459

Prepayments and accrued income

25,159

28,069

284,442

426,528

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

49,915

21,405

Trade creditors

92,651

127,101

Tax

34,555

57,041

Social security and other taxes

3,932

3,986

VAT

29,657

49,808

Pensions creditor

219

220

Company credit card

3,512

-

Directors' current accounts

359

1,122

Accrued expenses

48,586

47,189

263,386

307,872

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

81,325

45,410

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

131,240

66,815

The hire purchase liability is secured over the asset to which it relates.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M A Febery.