Company Registration No. 08664248 (England and Wales)
TELFORD LAUNDRY LTD
Unaudited accounts
for the year ended 31 August 2023
TELFORD LAUNDRY LTD
Unaudited accounts
Contents
TELFORD LAUNDRY LTD
Company Information
for the year ended 31 August 2023
Directors
Paul Hutt
Craig Penfold
Daniel Shepherd
Company Number
08664248 (England and Wales)
Registered Office
THE LAUNDRY B3
STAFFORD PARK 11
TELFORD
SHROPSHIRE
TF3 3AY
TELFORD LAUNDRY LTD
Statement of financial position
as at 31 August 2023
Intangible assets
1,000
2,000
Tangible assets
254,771
272,431
Cash at bank and in hand
83,541
2
Creditors: amounts falling due within one year
(304,099)
(445,740)
Net current assets/(liabilities)
33,637
(161,128)
Total assets less current liabilities
289,408
113,303
Creditors: amounts falling due after more than one year
(17,484)
(37,485)
Called up share capital
2
3
Profit and loss account
271,922
75,815
Shareholders' funds
271,924
75,818
For the year ending 31 August 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 directors acknowledge their 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 of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by
Daniel Shepherd
Director
Company Registration No. 08664248
TELFORD LAUNDRY LTD
Notes to the Accounts
for the year ended 31 August 2023
TELFORD LAUNDRY LTD is a private company, limited by shares, registered in England and Wales, registration number 08664248. The registered office is THE LAUNDRY B3, STAFFORD PARK 11, TELFORD, SHROPSHIRE, TF3 3AY.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Plant & machinery
20% reducing balance
Computer equipment
20% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
TELFORD LAUNDRY LTD
Notes to the Accounts
for the year ended 31 August 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Positive Cashflow Finance Limited holds a fixed and floating charge and a negative pledge dated 15 May 2015 over Telford Laundry Ltd on all monies, obligations and liabilities which may be due to Positive Cashflow Finance Limited now and in the future. (charge code 086642480001)
4
Intangible fixed assets
Goodwill
At 1 September 2022
10,000
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2022
964,923
2,232
967,155
Additions
60,937
66
61,003
Disposals
(121,362)
-
(121,362)
At 31 August 2023
904,498
2,298
906,796
At 1 September 2022
693,945
779
694,724
Charge for the year
54,542
295
54,837
On disposals
(97,536)
-
(97,536)
At 31 August 2023
650,951
1,074
652,025
At 31 August 2023
253,547
1,224
254,771
At 31 August 2022
270,978
1,453
272,431
TELFORD LAUNDRY LTD
Notes to the Accounts
for the year ended 31 August 2023
Amounts falling due within one year
Trade debtors
187,684
171,189
Amounts due from group undertakings etc.
1,673
-
Accrued income and prepayments
19,466
-
Other debtors
30,372
98,421
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
17,291
Obligations under finance leases and hire purchase contracts
-
28,548
Trade creditors
175,233
89,398
Taxes and social security
15,772
63,522
Other creditors
88,645
136,475
Loans from directors
-
40,867
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 36 (2022: 39).