Silverfin false 30/04/2023 01/05/2022 30/04/2023 R M Hitchins 27/04/2009 M A Weir 27/04/2009 12 October 2023 The principal activity of the Company during the financial year was provision of laundry services. 06888070 2023-04-30 06888070 bus:Director1 2023-04-30 06888070 bus:Director2 2023-04-30 06888070 2022-04-30 06888070 core:CurrentFinancialInstruments 2023-04-30 06888070 core:CurrentFinancialInstruments 2022-04-30 06888070 core:Non-currentFinancialInstruments 2023-04-30 06888070 core:Non-currentFinancialInstruments 2022-04-30 06888070 core:ShareCapital 2023-04-30 06888070 core:ShareCapital 2022-04-30 06888070 core:RetainedEarningsAccumulatedLosses 2023-04-30 06888070 core:RetainedEarningsAccumulatedLosses 2022-04-30 06888070 core:LandBuildings 2022-04-30 06888070 core:PlantMachinery 2022-04-30 06888070 core:Vehicles 2022-04-30 06888070 core:FurnitureFittings 2022-04-30 06888070 core:LandBuildings 2023-04-30 06888070 core:PlantMachinery 2023-04-30 06888070 core:Vehicles 2023-04-30 06888070 core:FurnitureFittings 2023-04-30 06888070 core:CostValuation 2022-04-30 06888070 core:CostValuation 2023-04-30 06888070 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 06888070 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-04-30 06888070 bus:OrdinaryShareClass1 2023-04-30 06888070 2022-05-01 2023-04-30 06888070 bus:FullAccounts 2022-05-01 2023-04-30 06888070 bus:SmallEntities 2022-05-01 2023-04-30 06888070 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 06888070 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 06888070 bus:Director1 2022-05-01 2023-04-30 06888070 bus:Director2 2022-05-01 2023-04-30 06888070 core:LandBuildings core:TopRangeValue 2022-05-01 2023-04-30 06888070 core:PlantMachinery 2022-05-01 2023-04-30 06888070 core:Vehicles 2022-05-01 2023-04-30 06888070 core:FurnitureFittings core:TopRangeValue 2022-05-01 2023-04-30 06888070 2021-05-01 2022-04-30 06888070 core:LandBuildings 2022-05-01 2023-04-30 06888070 core:FurnitureFittings 2022-05-01 2023-04-30 06888070 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 06888070 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 06888070 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06888070 (England and Wales)

WHITE CLOUD LAUNDRY AND LINEN SERVICES LTD

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

WHITE CLOUD LAUNDRY AND LINEN SERVICES LTD

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

WHITE CLOUD LAUNDRY AND LINEN SERVICES LTD

BALANCE SHEET

As at 30 April 2023
WHITE CLOUD LAUNDRY AND LINEN SERVICES LTD

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,160,921 682,522
Investments 4 202,574 202,574
1,363,495 885,096
Current assets
Stocks 5 9,213 3,628
Debtors 6 217,446 225,903
Cash at bank and in hand 93,435 55,872
320,094 285,403
Creditors: amounts falling due within one year 7 ( 291,628) ( 341,831)
Net current assets/(liabilities) 28,466 (56,428)
Total assets less current liabilities 1,391,961 828,668
Creditors: amounts falling due after more than one year 8 ( 501,229) ( 78,188)
Provision for liabilities ( 59,944) ( 67,073)
Net assets 830,788 683,407
Capital and reserves
Called-up share capital 9 1,000 1,000
Profit and loss account 829,788 682,407
Total shareholders' funds 830,788 683,407

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of White Cloud Laundry and Linen Services Ltd (registered number: 06888070) were approved and authorised for issue by the Director on 12 October 2023. They were signed on its behalf by:

R M Hitchins
Director
M A Weir
Director
WHITE CLOUD LAUNDRY AND LINEN SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
WHITE CLOUD LAUNDRY AND LINEN SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

White Cloud Laundry and Linen Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is:
The Laundry
Little Treviscoe
St Austell
PL26 7QN
United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance]basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 26 25

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 May 2022 442,762 382,125 83,236 298,186 1,206,309
Additions 521,631 5,920 3,900 47,272 578,723
Disposals 0 0 0 ( 145,726) ( 145,726)
At 30 April 2023 964,393 388,045 87,136 199,732 1,639,306
Accumulated depreciation
At 01 May 2022 35,909 228,835 51,836 207,207 523,787
Charge for the financial year 6,055 31,326 8,744 54,199 100,324
Disposals 0 0 0 ( 145,726) ( 145,726)
At 30 April 2023 41,964 260,161 60,580 115,680 478,385
Net book value
At 30 April 2023 922,429 127,884 26,556 84,052 1,160,921
At 30 April 2022 406,853 153,290 31,400 90,979 682,522

Leased assets
Included within the net book value of tangible fixed assets is £30,173 (2022 - £110,480 ) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £9,137 (2022 - £27,130).

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 May 2022 202,574
At 30 April 2023 202,574
Carrying value at 30 April 2023 202,574
Carrying value at 30 April 2022 202,574

Padstow Laundry Limited.

The principle activity of Padstow Laundry Limited is the provision of laundry services.

5. Stocks

2023 2022
£ £
Stocks 9,213 3,628

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

6. Debtors

2023 2022
£ £
Trade debtors 184,542 206,485
Other debtors 32,904 19,418
217,446 225,903

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 20,894 3,215
Trade creditors 27,473 59,716
Amounts owed to related parties 16,376 16,376
Taxation and social security 72,668 83,422
Obligations under finance leases and hire purchase contracts 13,097 16,929
Other creditors 141,120 162,173
291,628 341,831

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 486,606 50,467
Obligations under finance leases and hire purchase contracts 14,623 27,721
501,229 78,188

The borrowings are secured by charges over the company assets held by the company bankers.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

10. Financial commitments

Other financial commitments

The total amount of financial commitments not included in balance sheet is £nil (2022 - £nil).