Company registration number 09700953 (England and Wales)
Direct Laundry & Steam Installations Ltd
Unaudited
financial statements
for the year ended 31 July 2023
PAGES FOR FILING WITH REGISTRAR
Direct Laundry & Steam Installations Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Direct Laundry & Steam Installations Ltd
Statement Of Financial Position
as at 31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
12,299
14,470
Current assets
Stocks
2,294
2,365
Debtors
4
83,640
36,398
Cash at bank and in hand
29,902
12,128
115,836
50,891
Creditors: amounts falling due within one year
5
(45,458)
(50,159)
Net current assets
70,378
732
Total assets less current liabilities
82,677
15,202
Provisions for liabilities
6
(3,074)
(2,749)
Net assets
79,603
12,453
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
79,403
12,253
Total equity
79,603
12,453
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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 and signed by the director and authorised for issue on 31 October 2023
E Simpson
Director
Company Registration No. 09700953
Direct Laundry & Steam Installations Ltd
Notes to the financial statements
for the year ended 31 July 2023
- 2 -
1
Accounting policies
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.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised upon the provision of goods and services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
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 income statement 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 on all timing differences between the carrying amount of of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is then settled or the asset realised, based on the tax rates that have been enacted or substantively enacted by the end of the reporting period.
Direct Laundry & Steam Installations Ltd
Notes to the financial statements (continued)
for the year ended 31 July 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 August 2022 and 31 July 2023
31,600
Depreciation and impairment
At 1 August 2022
17,130
Depreciation charged in the year
2,171
At 31 July 2023
19,301
Carrying amount
At 31 July 2023
12,299
At 31 July 2022
14,470
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
81,322
36,398
Other debtors
218
Prepayments and accrued income
2,100
83,640
36,398
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,097
3,399
Corporation tax
22,744
5,975
Other taxation and social security
19,367
38,398
Other creditors
2,250
2,387
45,458
50,159
Direct Laundry & Steam Installations Ltd
Notes to the financial statements (continued)
for the year ended 31 July 2023
- 4 -
6
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
3,074
2,749
7
Company information
Direct Laundry & Steam Installations Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7 Upper West Scausby, Bradshaw, Halifax, HX2 9HZ.