Inner London Cleaning Ltd
Unaudited Financial Statements
For the year ended 31 March 2023
Pages for Filing with Registrar
Company Registration No. 06804018 (England and Wales)
Inner London Cleaning Ltd
Company Information
Directors
M A Sully
S J Sully
G D Hoebeeck
Company number
06804018
Registered office
4 Eastbrook Drive
Rush Green
Romford
United Kingdom
RM7 0YX
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Inner London Cleaning Ltd
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Inner London Cleaning Ltd
Balance Sheet
As at 31 March 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
55,200
110,400
Tangible assets
4
50,759
61,779
Investment properties
5
399,928
-
0
505,887
172,179
Current assets
Debtors
6
162,438
276,807
Cash at bank and in hand
645,655
666,499
808,093
943,306
Creditors: amounts falling due within one year
7
(92,013)
(142,240)
Net current assets
716,080
801,066
Total assets less current liabilities
1,221,967
973,245
Creditors: amounts falling due after more than one year
8
(182,358)
-
0
Net assets
1,039,609
973,245
Capital and reserves
Called up share capital
9
10,000
10,000
Profit and loss reserves
1,029,609
963,245
Total equity
1,039,609
973,245

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Inner London Cleaning Ltd
Balance Sheet (Continued)
As at 31 March 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 1 November 2023 and are signed on its behalf by:
S J Sully
Director
Company Registration No. 06804018
Inner London Cleaning Ltd
Notes to the Financial Statements
For the year ended 31 March 2023
Page 3
1
Accounting policies
Company information

Inner London Cleaning Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4 Eastbrook Drive, Rush Green, Romford, Essex RM7 0YX.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

 

1.3
Goodwill

Goodwill relates to the valuation of the business before incorporation by a third party independent agent - Plimsoll Publishing of Stockton-on-Tees in 2015. Goodwill is being amortised over its estimated useful life of 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

Inner London Cleaning Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
1
Accounting policies
(Continued)
Page 4
1.8
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee Pensions

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
81
118
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
552,000
Amortisation and impairment
At 1 April 2022
441,600
Amortisation charged for the year
55,200
At 31 March 2023
496,800
Carrying amount
At 31 March 2023
55,200
At 31 March 2022
110,400
Inner London Cleaning Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 5
4
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022
9,320
18,730
76,518
104,568
Additions
2,759
1,000
499
4,258
At 31 March 2023
12,079
19,730
77,017
108,826
Depreciation and impairment
At 1 April 2022
6,283
12,750
23,756
42,789
Depreciation charged in the year
979
984
13,315
15,278
At 31 March 2023
7,262
13,734
37,071
58,067
Carrying amount
At 31 March 2023
4,817
5,996
39,946
50,759
At 31 March 2022
3,037
5,980
52,762
61,779
5
Investment property
2023
£
Fair value
At 1 April 2022
-
0
Additions
399,928
At 31 March 2023
399,928

The investment property was valued at year end by the director. The historic cost of the property is £399,928.

6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
144,257
260,836
Other debtors
10,434
10,363
Prepayments and accrued income
7,747
5,608
162,438
276,807
Inner London Cleaning Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 6
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
4,821
-
0
Trade creditors
5,129
33,043
Corporation tax
32,489
46,720
Other taxation and social security
44,431
55,031
Other creditors
2,393
2,625
Accruals and deferred income
2,750
4,821
92,013
142,240
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
182,358
-

The long term loan is repayable by instalments over 20 years and is secured by a legal charge over the investment property in favour of Nottingham Building Society.

9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
10,000 Ordinary Shares of £1 each
10,000
10,000
10,000
10,000
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments of office under non-cancellable operating leases, as follows:

2023
2022
£
£
8,972
26,118
Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2023
2022
£
£
11,258
-
0
Inner London Cleaning Ltd
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 7
11
Directors' transactions

At the year end, £363 (2022: £363) was owed to the company by the directors.

 

Also at the year end, unpaid share capital of £10,000 (2022: £10,000) was owed to the company by the directors.

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