IRIS Accounts Production v23.1.0.753 04266946 director 1.1.22 31.12.22 31.12.22 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure042669462021-12-31042669462022-12-31042669462022-01-012022-12-31042669462020-12-31042669462021-01-012021-12-31042669462021-12-3104266946ns15:EnglandWales2022-01-012022-12-3104266946ns14:PoundSterling2022-01-012022-12-3104266946ns10:Director12022-01-012022-12-3104266946ns10:PrivateLimitedCompanyLtd2022-01-012022-12-3104266946ns10:SmallEntities2022-01-012022-12-3104266946ns10:AuditExempt-NoAccountantsReport2022-01-012022-12-3104266946ns10:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3104266946ns10:SmallCompaniesRegimeForAccounts2022-01-012022-12-3104266946ns10:FullAccounts2022-01-012022-12-310426694612022-01-012022-12-3104266946ns5:CurrentFinancialInstruments2022-12-3104266946ns5:CurrentFinancialInstruments2021-12-3104266946ns5:Non-currentFinancialInstruments2022-12-3104266946ns5:Non-currentFinancialInstruments2021-12-3104266946ns5:ShareCapital2022-12-3104266946ns5:ShareCapital2021-12-3104266946ns5:RetainedEarningsAccumulatedLosses2022-12-3104266946ns5:RetainedEarningsAccumulatedLosses2021-12-3104266946ns10:RegisteredOffice2022-01-012022-12-3104266946ns5:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3104266946ns5:IntangibleAssetsOtherThanGoodwill2022-12-3104266946ns5:ShortLeaseholdAssetsns5:LandBuildings2021-12-3104266946ns5:PlantMachinery2021-12-3104266946ns5:FurnitureFittings2021-12-3104266946ns5:MotorVehicles2021-12-3104266946ns5:ShortLeaseholdAssetsns5:LandBuildings2022-01-012022-12-3104266946ns5:PlantMachinery2022-01-012022-12-3104266946ns5:FurnitureFittings2022-01-012022-12-3104266946ns5:MotorVehicles2022-01-012022-12-3104266946ns5:ShortLeaseholdAssetsns5:LandBuildings2022-12-3104266946ns5:PlantMachinery2022-12-3104266946ns5:FurnitureFittings2022-12-3104266946ns5:MotorVehicles2022-12-3104266946ns5:ShortLeaseholdAssetsns5:LandBuildings2021-12-3104266946ns5:PlantMachinery2021-12-3104266946ns5:FurnitureFittings2021-12-3104266946ns5:MotorVehicles2021-12-3104266946ns5:CostValuation2021-12-3104266946ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3104266946ns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-12-31
REGISTERED NUMBER: 04266946 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

MCS CLEANING SERVICES LIMITED

MCS CLEANING SERVICES LIMITED (REGISTERED NUMBER: 04266946)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 DECEMBER 2022




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


MCS CLEANING SERVICES LIMITED (REGISTERED NUMBER: 04266946)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 42,124 -
Property, plant and equipment 5 36,694 48,927
Investments 6 30,000 30,000
108,818 78,927

CURRENT ASSETS
Inventories 1,230 665
Debtors 7 385,709 264,245
Cash at bank 174,065 232,568
561,004 497,478
CREDITORS
Amounts falling due within one year 8 586,949 490,339
NET CURRENT (LIABILITIES)/ASSETS (25,945 ) 7,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,873

86,066

CREDITORS
Amounts falling due after more than one
year

9

31,204

36,759
NET ASSETS 51,669 49,307

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 51,469 49,107
SHAREHOLDERS' FUNDS 51,669 49,307

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

MCS CLEANING SERVICES LIMITED (REGISTERED NUMBER: 04266946)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 25 September 2023 and were signed by:





Mrs E Carlos Georgiou - Director


MCS CLEANING SERVICES LIMITED (REGISTERED NUMBER: 04266946)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 DECEMBER 2022

1. STATUTORY INFORMATION

MCS Cleaning Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04266946

Registered office: 1st Floor, 22 Cannon Hill
London
N14 6BY

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short leasehold - over 10 years
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

The company has adopted the policy of not depreciating the assets in the year of purchase. However, full depreciation will be provided in the year of disposal.

MCS CLEANING SERVICES LIMITED (REGISTERED NUMBER: 04266946)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

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.

Cash and equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Factored debts
The company has some of it's sales invoices factored by a factoring facility. The company's factoring arrangements can neither be called as derecognition nor linked presentation. Hence a separate presentation has been adopted whereby gross debts are shown as an asset on the balance sheet and proceeds from the factors are included within creditors as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 64 (2021 - 64 ) .

MCS CLEANING SERVICES LIMITED (REGISTERED NUMBER: 04266946)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 42,124
At 31 December 2022 42,124
NET BOOK VALUE
At 31 December 2022 42,124

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2022 90,859 138,339 1,885 29,928 261,011
Additions - - 1,615 - 1,615
Disposals - - - (22,600 ) (22,600 )
At 31 December 2022 90,859 138,339 3,500 7,328 240,026
DEPRECIATION
At 1 January 2022 90,859 94,130 - 27,095 212,084
Charge for year - 11,052 471 709 12,232
Eliminated on disposal - - - (20,984 ) (20,984 )
At 31 December 2022 90,859 105,182 471 6,820 203,332
NET BOOK VALUE
At 31 December 2022 - 33,157 3,029 508 36,694
At 31 December 2021 - 44,209 1,885 2,833 48,927

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2022
and 31 December 2022 30,000
NET BOOK VALUE
At 31 December 2022 30,000
At 31 December 2021 30,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 381,387 221,104
Other debtors 4,322 43,141
385,709 264,245

MCS CLEANING SERVICES LIMITED (REGISTERED NUMBER: 04266946)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 2022

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in trade debtors is an amount of £203,208 (2021: £193,933) subject to factoring by Skipton Business Finance Limited. Skipton Business Finance Limited has fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, and fixed plant & machinery of the company.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 27,575 29,482
Amounts owed to group undertakings 12,000 12,000
Taxation and social security 222,383 156,631
Other creditors 314,991 282,226
586,949 490,339

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 31,204 36,759

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Invoice factoring 174,836 166,222

Invoice discounting facility is secured by way of fixed and floating charge over all the property and other assets of the company and contains negative pledge.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in the other creditors less than one year is an amount of £12,243 (2021: £12,243) due to a connected company with common shareholding. The loan was interest free and repayable on demand.