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REGISTERED NUMBER: 03432909 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

RGS CLEANING LIMITED

RGS CLEANING LIMITED (REGISTERED NUMBER: 03432909)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RGS CLEANING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: C G Guise Smith
R K Guise Smith
O R Guise-Smith





REGISTERED OFFICE: 96 Hangingwater Road
Sheffield
South Yorkshire
S11 7ER





REGISTERED NUMBER: 03432909 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

RGS CLEANING LIMITED (REGISTERED NUMBER: 03432909)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 165,788 165,772
165,788 165,772

CURRENT ASSETS
Stocks 2,542 2,239
Debtors 6 139,400 121,552
Cash at bank 52,674 134,398
194,616 258,189
CREDITORS
Amounts falling due within one year 7 161,968 209,620
NET CURRENT ASSETS 32,648 48,569
TOTAL ASSETS LESS CURRENT
LIABILITIES

198,436

214,341

CREDITORS
Amounts falling due after more than one
year

8

(2,783

)

(7,214

)

PROVISIONS FOR LIABILITIES (2,250 ) (2,915 )
NET ASSETS 193,403 204,212

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 77,491 80,473
Retained earnings 115,812 123,639
SHAREHOLDERS' FUNDS 193,403 204,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

RGS CLEANING LIMITED (REGISTERED NUMBER: 03432909)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





O R Guise-Smith - Director


RGS CLEANING LIMITED (REGISTERED NUMBER: 03432909)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

RGS Cleaning 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life.

Amortisation is provided at the following rates:

Goodwill - 5% straight line

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.
Freehold property - 2% on cost
Motor vehicles - 25% on cost
Computer equipment - 10% on cost

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 Profit and Loss Account, 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.

RGS CLEANING LIMITED (REGISTERED NUMBER: 03432909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance ;eases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and Loss Account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Leasing and hire purchase
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and Loss Account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Revaluation of tangible fixed assets
The company will retain the net book value of land and buildings, previously revalued at 1 March 2009 and will not update that valuation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 135 (2022 - 145 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 12,000
AMORTISATION
At 1 April 2022
and 31 March 2023 12,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

RGS CLEANING LIMITED (REGISTERED NUMBER: 03432909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 175,000 128,276 303,276
Additions - 20,134 20,134
Disposals - (12,038 ) (12,038 )
At 31 March 2023 175,000 136,372 311,372
DEPRECIATION
At 1 April 2022 49,012 88,492 137,504
Charge for year 3,500 16,618 20,118
Eliminated on disposal - (12,038 ) (12,038 )
At 31 March 2023 52,512 93,072 145,584
NET BOOK VALUE
At 31 March 2023 122,488 43,300 165,788
At 31 March 2022 125,988 39,784 165,772

Cost or valuation at 31 March 2023 is represented by:

Land and
buildings
£   
Valuation in 2009 107,778
Cost 67,222
175,000

If land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 67,222 67,222
Aggregate depreciation 24,475 21,787

Value of land in freehold land and buildings 42,747 45,435

Included within the net book value of tangible fixed assets is £14,821 (2022 - £27,721) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £12,900 (2022 - £12,425).

RGS CLEANING LIMITED (REGISTERED NUMBER: 03432909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 122,544 116,786
Other debtors 16,856 4,766
139,400 121,552

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 4,912 7,761
Trade creditors 3,679 13,484
Corporation tax 6,147 7,191
Social security and other taxes 4,841 (268 )
VAT 39,825 43,044
Other creditors 95,047 132,175
Directors' loan accounts 3,892 5,992
Accruals and deferred income 250 241
Deferred government grants 3,375 -
161,968 209,620

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 2,783 7,214

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 7,694 14,975
Invoice finance 93,603 72,321
101,297 87,296

Invoice finance is secured by way of first fixed charge on all book and other debts and a floating charge on all proceeds of book and other debts. Hire purchase contracts are secured on the assets concerned.

RGS CLEANING LIMITED (REGISTERED NUMBER: 03432909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. RESERVES
Revaluation
reserve
£   
At 1 April 2022 80,473
Depreciation transfer (4,312 )
Depreciation transfer - deferred tax 1,330

At 31 March 2023 77,491

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
O R Guise-Smith
Balance outstanding at start of year - -
Amounts advanced 19,613 -
Amounts repaid (19,613 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

R K Guise Smith
Balance outstanding at start of year - -
Amounts advanced 5,595 -
Amounts repaid (5,595 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -