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REGISTERED NUMBER: NI071886 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

KM CLEANERS LTD

KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 FEBRUARY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 7

KM CLEANERS LTD

COMPANY INFORMATION
for the Year Ended 28 FEBRUARY 2023







DIRECTORS: Mr T McKeon
Mrs E Leyden



SECRETARY: Mrs E Leyden



REGISTERED OFFICE: KM Cleaners Ltd
Queen Street
Enniskillen
Co. Fermanagh
BT74 7JR



REGISTERED NUMBER: NI071886 (Northern Ireland)



ACCOUNTANTS: Patton Rainey and Associates
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT



BANKERS: First Trust Bank
2 & 4 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT

KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 28,605 35,756
28,605 35,756

CURRENT ASSETS
Stocks 6 3,168 2,390
Debtors 7 1,312 3,012
Cash at bank and in hand 45,699 78,723
50,179 84,125
CREDITORS
Amounts falling due within one year 8 41,197 78,661
NET CURRENT ASSETS 8,982 5,464
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,587

41,220

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 37,585 41,218
SHAREHOLDERS' FUNDS 37,587 41,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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 Board of Directors and authorised for issue on 30 August 2023 and were signed on its behalf by:





Mr T McKeon - Director


KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 FEBRUARY 2023


1. STATUTORY INFORMATION

KM Cleaners Ltd is a private company, limited by shares , registered in Northern Ireland. 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 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of 5 years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

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

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 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.

KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 19,480
AMORTISATION
At 1 March 2022
and 28 February 2023 19,480
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 March 2022
and 28 February 2023 187,681
DEPRECIATION
At 1 March 2022 151,925
Charge for year 7,151
At 28 February 2023 159,076
NET BOOK VALUE
At 28 February 2023 28,605
At 28 February 2022 35,756

KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 FEBRUARY 2023


6. STOCKS
28.2.23 28.2.22
£    £   
Stocks 3,168 2,390

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 880 3,010
Other debtors 2 2
Prepayments and accrued income 430 -
1,312 3,012

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 11,771 10,734
Owed to connected party 13,878 48,364
Tax 510 1,555
Social security and other taxes - 883
VAT 1,535 3,635
Other creditors 63 50
Directors' current accounts 13,440 13,440
41,197 78,661

9. RELATED PARTY DISCLOSURES

KM Laundry Ltd

KM Cleaners Ltd and KM Laundry Ltd are under common control by way of ownership of shares.

KM Laundry Ltd is partially financed by way of in inter company loan from KM Cleaners Ltd. This loan amounted to £13,878 at the 28th February 2023 and is repayable on demand.

KM CLEANERS LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
KM CLEANERS LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 28 February 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Patton Rainey and Associates
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT


30 August 2023