Company Registration No. 11441013 (England and Wales)
VARSITY CLEANERS LTD
Unaudited accounts
for the year ended 30 June 2023
VARSITY CLEANERS LTD
Unaudited accounts
Contents
VARSITY CLEANERS LTD
Company Information
for the year ended 30 June 2023
Company Number
11441013 (England and Wales)
Registered Office
William James House
Cowley Road
Cambridge
Cambridgeshire
CB4 0WX
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
VARSITY CLEANERS LTD
for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of VARSITY CLEANERS LTD for the year ended 30 June 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
This report is made solely to the Board of Directors of VARSITY CLEANERS LTD, as a body, in accordance with the terms of our engagement letter dated 1 September 2018. Our work has been undertaken solely to prepare for your approval the accounts of VARSITY CLEANERS LTD and state those matters that we have agreed to state to the Board of Directors of VARSITY CLEANERS LTD, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VARSITY CLEANERS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that VARSITY CLEANERS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of VARSITY CLEANERS LTD. You consider that VARSITY CLEANERS LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of VARSITY CLEANERS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Member in Practice
25 September 2023
VARSITY CLEANERS LTD
Statement of financial position
as at 30 June 2023
Cash at bank and in hand
4,021
4,166
Creditors: amounts falling due within one year
(27,654)
(20,647)
Net current liabilities
(23,633)
(9,662)
Total assets less current liabilities
(22,858)
(8,112)
Creditors: amounts falling due after more than one year
(6,588)
(8,411)
Net liabilities
(29,446)
(16,523)
Called up share capital
1
1
Profit and loss account
(29,447)
(16,524)
Shareholders' funds
(29,446)
(16,523)
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 7 November 2023 and were signed on its behalf by
JEMWA, Timothy
Director
Company Registration No. 11441013
VARSITY CLEANERS LTD
Notes to the Accounts
for the year ended 30 June 2023
VARSITY CLEANERS LTD is a private company, limited by shares, registered in England and Wales, registration number 11441013. The registered office is William James House, Cowley Road, Cambridge, Cambridgeshire, CB4 0WX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Government grants coronavirus (COVID-19) grants and support payments
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Motor vehicles
VARSITY CLEANERS LTD
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
1,823
1,823
Trade creditors
1,264
1,411
Taxes and social security
-
910
Loans from directors
24,567
16,503
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).