Registered number
06563465
Spotless Midlands Ltd
Filleted Accounts
31 March 2023
Spotless Midlands Ltd
Registered number: 06563465
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 72,843 64,704
Current assets
Stocks 2,000 2,000
Debtors 4 282,085 200,785
Cash at bank and in hand 61,888 50,108
345,973 252,893
Creditors: amounts falling due within one year 5 (211,063) (186,311)
Net current assets 134,910 66,582
Total assets less current liabilities 207,753 131,286
Creditors: amounts falling due after more than one year 6 (81,452) (92,125)
Provisions for liabilities (13,841) (10,722)
Net assets 112,460 28,439
Capital and reserves
Called up share capital 20 20
Profit and loss account 112,440 28,419
Shareholders' funds 112,460 28,439
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Hill
Director
Approved by the board on 24 July 2023
Spotless Midlands Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment over 3 years
Stocks
Stocks 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 stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 132 116
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 29,994 100,847 130,841
Additions 1,428 75,910 77,338
Disposals - (81,089) (81,089)
At 31 March 2023 31,422 95,668 127,090
Depreciation
At 1 April 2022 21,718 44,419 66,137
Charge for the year 3,548 22,230 25,778
On disposals - (37,668) (37,668)
At 31 March 2023 25,266 28,981 54,247
Net book value
At 31 March 2023 6,156 66,687 72,843
At 31 March 2022 8,276 56,428 64,704
4 Debtors 2023 2022
£ £
Trade debtors 60,914 161,373
Other debtors 221,171 39,412
282,085 200,785
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 15,000 15,000
Obligations under finance lease and hire purchase contracts 9,393 10,471
Trade creditors 20,039 10,618
Taxation and social security costs 140,235 111,062
Other creditors 26,396 39,160
211,063 186,311
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 32,500 47,500
Obligations under finance lease and hire purchase contracts 48,952 44,625
81,452 92,125
7 Controlling party
The company is controlled by the company director, Mr P Hill, by virtue of his shareholding.
8 Other information
Spotless Midlands Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Spotless Cleaning
Glensyl Way
Burton on Trent
Staffordshire
DE14 1LX
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