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REGISTERED NUMBER: 06432394 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

EXPRESS LINEN SERVICES LIMITED

EXPRESS LINEN SERVICES LIMITED (REGISTERED NUMBER: 06432394)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXPRESS LINEN SERVICES LIMITED

Company Information
for the Year Ended 31 January 2023







DIRECTORS: E Bruce
MA Bruce



SECRETARY: CA Allan



REGISTERED OFFICE: 1 Brunel Way
Blackpool & Fylde Industrial Estate
Blackpool
Lancashire
FY4 5ES



REGISTERED NUMBER: 06432394 (England and Wales)



ACCOUNTANTS: Keenan Chartered Accountants
The Old Surgery
43 Derbe Road
Lytham St Annes
Lancashire
FY8 1NJ



BANKERS: Yorkshire Bank PLC
3 Orchard Street
Preston
Lancashire
PR1 2EN

EXPRESS LINEN SERVICES LIMITED (REGISTERED NUMBER: 06432394)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 2 2
Tangible assets 6 3,145,654 3,219,592
Investments 7 1,000 1,000
3,146,656 3,220,594

CURRENT ASSETS
Stocks 28,936 31,922
Debtors 8 743,878 641,264
Cash at bank and in hand 1,125,510 1,125,570
1,898,324 1,798,756
CREDITORS
Amounts falling due within one year 9 1,120,614 1,084,025
NET CURRENT ASSETS 777,710 714,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,924,366

3,935,325

CREDITORS
Amounts falling due after more than one
year

10

(656,761

)

(800,323

)

PROVISIONS FOR LIABILITIES 12 (316,192 ) (254,694 )
NET ASSETS 2,951,413 2,880,308

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 2,951,213 2,880,108
SHAREHOLDERS' FUNDS 2,951,413 2,880,308

EXPRESS LINEN SERVICES LIMITED (REGISTERED NUMBER: 06432394)

Balance Sheet - continued
31 January 2023


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

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

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 11 October 2023 and were signed on its behalf by:





E Bruce - Director


EXPRESS LINEN SERVICES LIMITED (REGISTERED NUMBER: 06432394)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Express Linen Services 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Express Linen Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Revenue recognition
Revenue is the amount derived from ordinary activities, and is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances, and is stated net of VAT.

Revenue from the process of cleaning linen is recognised when the following conditions are satisfied:

Specifically, revenue from the sale of services is recognised after which the Company has processed and delivered the clean linen to the customer.

Specifically, revenue from the sale of new and damaged linen, which is minimal, is recognised when goods are delivered by the Company at an agreed price and legal title is passed.

Goodwill
Goodwill of £1, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years. A further £1 of Goodwill was acquired on 29 May 2018 when the company acquired the trade and assets of its wholly owned subsidiary of Vale Textile Services Limited.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 4% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Linen - 50% on cost

EXPRESS LINEN SERVICES LIMITED (REGISTERED NUMBER: 06432394)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. ACCOUNTING POLICIES - continued

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

During the period under review, the company held 100% of the issued ordinary share capital of its dormant subsidiary, Vale Textile Services Limited

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obselete 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 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 and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the 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 constant periodic rates of charge on the net obligations outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease
term.

Pension costs and other post-retirement benefits
The Company operates defined contribution pension schemes for employees and directors. Contributions payable to the company's pension schemes are charged to profit or loss in the period to which they relate.

EXPRESS LINEN SERVICES LIMITED (REGISTERED NUMBER: 06432394)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

Trade and other creditors are initially recognised at the transaction price and are therefore stated at amortised cost using the effective interest method unless the discounting would be immaterial, in which case they are stated at cost.

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Short term debtors and creditors receivable
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 99 (2022 - 105 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 200,001
AMORTISATION
At 1 February 2022
and 31 January 2023 199,999
NET BOOK VALUE
At 31 January 2023 2
At 31 January 2022 2

EXPRESS LINEN SERVICES LIMITED (REGISTERED NUMBER: 06432394)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Linen Totals
£    £    £    £    £   
COST
At 1 February 2022 1,896,889 3,820,977 526,867 865,998 7,110,731
Additions - 60,139 40,974 608,469 709,582
Disposals - - - (341,387 ) (341,387 )
At 31 January 2023 1,896,889 3,881,116 567,841 1,133,080 7,478,926
DEPRECIATION
At 1 February 2022 344,157 2,731,009 392,068 423,905 3,891,139
Charge for year 75,872 170,080 37,115 500,453 783,520
Eliminated on disposal - - - (341,387 ) (341,387 )
At 31 January 2023 420,029 2,901,089 429,183 582,971 4,333,272
NET BOOK VALUE
At 31 January 2023 1,476,860 980,027 138,658 550,109 3,145,654
At 31 January 2022 1,552,732 1,089,968 134,799 442,093 3,219,592

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2022 667,411 120,277 787,688
Additions 40,721 40,974 81,695
Transfer to ownership - (56,285 ) (56,285 )
At 31 January 2023 708,132 104,966 813,098
DEPRECIATION
At 1 February 2022 233,265 55,979 289,244
Charge for year 69,194 16,058 85,252
Transfer to ownership - (39,126 ) (39,126 )
At 31 January 2023 302,459 32,911 335,370
NET BOOK VALUE
At 31 January 2023 405,673 72,055 477,728
At 31 January 2022 434,146 64,298 498,444

EXPRESS LINEN SERVICES LIMITED (REGISTERED NUMBER: 06432394)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2022
and 31 January 2023 1,000
NET BOOK VALUE
At 31 January 2023 1,000
At 31 January 2022 1,000

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 531,783 462,615
Other debtors 212,095 178,649
743,878 641,264

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 38,470 37,929
Hire purchase contracts 174,687 155,099
Trade creditors 324,574 395,970
Taxation and social security 374,136 213,941
Other creditors 208,747 281,086
1,120,614 1,084,025

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 594,389 631,539
Hire purchase contracts 62,372 168,784
656,761 800,323

EXPRESS LINEN SERVICES LIMITED (REGISTERED NUMBER: 06432394)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 632,859 669,468
Hire purchase contracts 237,059 323,883
869,918 993,351

The bank loan is secured by fixed and floating charges held by the bank over the assets of the company and legal charges over the properties at 1 Brunel Way, Blackpool & Fylde Industrial Estate, Blackpool and at 2-4 Arkwright Court, Blackpool & Fylde Industrial Estate, Blackpool.

The hire purchase facilities are secured on the assets to which they relate and by fixed and floating charges held by the bank over the assets of the company.

12. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£    £   
Deferred tax
Accelerated capital allowances 316,192 254,694

Deferred
tax
£   
Balance at 1 February 2022 254,694
Charge to Income Statement during year 61,498
Balance at 31 January 2023 316,192

13. OTHER FINANCIAL COMMITMENTS

As at 31 January 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £6,160 (2022 - £9,520).

14. GOVERNMENT GRANTS

The company did not receive any revenue grants from the Government of in the year. However in the prior year, the company received £279,450 relating to support packages surrounding COVID-19. These grants were all in the form of the Coronavirus Job Retention Scheme ('CJRS'). The grants were accounted for on an accruals basis and there are no fulfilment conditions attached to these grants. The grants have been disclosed on the face of the income statement under the heading 'other operating income'.