Company registration number 09641656 (England and Wales)
SOAP SUDS (BRISTOL) LAUNDRY SERVICE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
SOAP SUDS (BRISTOL) LAUNDRY SERVICE LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
SOAP SUDS (BRISTOL) LAUNDRY SERVICE LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs C A Kingdon
Mrs J Chiddy
Company number
09641656
Registered office
30-31 St James Place
Mangotsfield
Bristol
South Glos.
England
BS16 9JB
Accountants
TC Group
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
SOAP SUDS (BRISTOL) LAUNDRY SERVICE LIMITED
BALANCE SHEET
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,600
2,400
Tangible assets
4
15,629
20,401
17,229
22,801
Current assets
Debtors
5
3,654
5,696
Cash at bank and in hand
476
1,833
4,130
7,529
Creditors: amounts falling due within one year
6
(31,111)
(25,173)
Net current liabilities
(26,981)
(17,644)
Total assets less current liabilities
(9,752)
5,157
Creditors: amounts falling due after more than one year
7
(17,000)
(20,924)
Provisions for liabilities
(2,970)
(3,876)
Net liabilities
(29,722)
(19,643)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(29,724)
(19,645)
Total equity
(29,722)
(19,643)
SOAP SUDS (BRISTOL) LAUNDRY SERVICE LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
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 30 June 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.
The financial statements were approved by the board of directors and authorised for issue on 16 November 2023 and are signed on its behalf by:
Mrs C A Kingdon
Mrs J Chiddy
Director
Director
Company Registration No. 09641656
SOAP SUDS (BRISTOL) LAUNDRY SERVICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Company information
Soap Suds (Bristol) Laundry Service Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30-31 St James Place, Mangotsfield, Bristol, South Glos., England, BS16 9JB.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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 financial instruments at fair value]. The principal accounting policies adopted are set out below.
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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Intangible fixed assets - Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 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.
SOAP SUDS (BRISTOL) LAUNDRY SERVICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
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 equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
Enter depreciation rate via StatDB - cd198
Motor vehicles
25% reducing balance
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the 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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
SOAP SUDS (BRISTOL) LAUNDRY SERVICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
6
8
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2022 and 30 June 2023
8,000
Amortisation and impairment
At 1 July 2022
5,600
Amortisation charged for the year
800
At 30 June 2023
6,400
Carrying amount
At 30 June 2023
1,600
At 30 June 2022
2,400
SOAP SUDS (BRISTOL) LAUNDRY SERVICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022
41,983
Additions
350
At 30 June 2023
42,333
Depreciation and impairment
At 1 July 2022
21,582
Depreciation charged in the year
5,122
At 30 June 2023
26,704
Carrying amount
At 30 June 2023
15,629
At 30 June 2022
20,401
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
597
2,201
Other debtors
3,057
3,495
3,654
5,696
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,996
2,130
Trade creditors
7,892
6,710
Taxation and social security
3,669
3,598
Other creditors
17,554
12,735
31,111
25,173
SOAP SUDS (BRISTOL) LAUNDRY SERVICE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 8 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,982
5,797
Other creditors
13,018
15,127
17,000
20,924