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Registration number: 06490913

Chores Hygiene Management Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2022

 

Chores Hygiene Management Ltd

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Chores Hygiene Management Ltd

Company Information

Directors

Mrs Lisa Karen Hickling

Mr Glenn Peter Hickling

Mr Martin Barnard

Registered office

Unit 1, First Floor
Lyndon Business Park
Farrier Road
Lincoln
Lincolnshire
LN6 3RU

 

Chores Hygiene Management Ltd

Directors' Report for the Year Ended 31 January 2022

The Directors present their report and the financial statements for the year ended 31 January 2022.

Directors of the Company

The Directors who held office during the year were as follows:

Mrs Lisa Karen Hickling

Mr Glenn Peter Hickling

Mr Martin Barnard

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 25 July 2022 and signed on its behalf by:
 

.........................................
Mrs Lisa Karen Hickling
Director

.........................................
Mr Glenn Peter Hickling
Director

.........................................
Mr Martin Barnard
Director

 

Chores Hygiene Management Ltd

(Registration number: 06490913)
Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

3

1,153

Tangible assets

5

42,728

38,842

 

42,731

39,995

Current assets

 

Stocks

4,355

5,415

Debtors

6

287,761

309,418

Cash at bank and in hand

 

239,353

343,527

 

531,469

658,360

Creditors: Amounts falling due within one year

7

(400,546)

(440,023)

Net current assets

 

130,923

218,337

Total assets less current liabilities

 

173,654

258,332

Creditors: Amounts falling due after more than one year

7

(32,500)

(177,436)

Provisions for liabilities

(7,984)

(7,380)

Net assets

 

133,170

73,516

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

132,170

72,516

Shareholders' funds

 

133,170

73,516

For the financial year ending 31 January 2022 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 July 2022 and signed on its behalf by:
 

 

Chores Hygiene Management Ltd

(Registration number: 06490913)
Balance Sheet as at 31 January 2022

.........................................
Mrs Lisa Karen Hickling
Director

.........................................
Mr Glenn Peter Hickling
Director

.........................................
Mr Martin Barnard
Director

 

Chores Hygiene Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 06490913.

The address of its registered office is:
Unit 1, First Floor
Lyndon Business Park
Farrier Road
Lincoln
Lincolnshire
LN6 3RU

These financial statements were authorised for issue by the Board on 25 July 2022.

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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

The financial statements cover the individual entity, Chores Hygiene Management Ltd.

Going concern

Specifically in connection with the current economic climate, the directors have considered the impact of COVID-19 on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Government grants

Government grants in relation to the Coronavirus job retention scheme have been credited within the profit and loss account.

 

Chores Hygiene Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Plant and Machinery

15% - 25% on reducing balance

Motor Vehicles

25% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Stock

Stock has been valued at the lower of cost and estimated selling price less costs to sell.

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 the shorter. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

 

Chores Hygiene Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

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.

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 the profit and loss account in the period to which they relate.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 65 (2021 - 92).

 

Chores Hygiene Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2021

71,503

71,503

At 31 January 2022

71,503

71,503

Amortisation

At 1 February 2021

70,350

70,350

Amortisation charge

1,150

1,150

At 31 January 2022

71,500

71,500

Carrying amount

At 31 January 2022

3

3

At 31 January 2021

1,153

1,153

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2021

45,208

51,918

97,126

Additions

6,273

17,773

24,046

Disposals

(6,337)

(12,894)

(19,231)

At 31 January 2022

45,144

56,797

101,941

Depreciation

At 1 February 2021

30,947

27,337

58,284

Charge for the year

2,472

7,135

9,607

Eliminated on disposal

(5,052)

(3,626)

(8,678)

At 31 January 2022

28,367

30,846

59,213

Carrying amount

At 31 January 2022

16,777

25,951

42,728

At 31 January 2021

14,261

24,581

38,842

6

Debtors

Current

2022
£

2021
£

Trade debtors

285,363

305,809

Other debtors

2,398

3,609

 

287,761

309,418

 

Chores Hygiene Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Bank loans and overdrafts

8

159,450

43,552

HP and finance lease

 

1,957

3,445

Trade creditors

 

83,428

111,426

Other creditors

 

2,597

2,492

Accruals and deferred income

 

2,306

4,926

Corporation tax control

 

30,569

32,402

VAT Control account

 

24,996

161,236

PAYE and NIC creditor

 

5,297

3,530

Directors' current account

 

89,946

77,014

 

400,546

440,023

Due after one year

 

Loans and borrowings

8

32,500

177,436

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

32,500

175,497

Hire purchase contracts

-

1,939

32,500

177,436

2022
£

2021
£

Current loans and borrowings

Bank borrowings

159,450

43,552

Hire purchase contracts

1,957

3,445

Other borrowings

89,946

77,014

251,353

124,011

 

Chores Hygiene Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

9

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £1,957 (2021 - £5,384). These refer to hire purchase which was secured againsts the assets the hire purchase was used to obtain.