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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
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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
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TELFORD LAUNDRY LTD Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,000 
2,000 
Tangible assets
254,771 
272,431 
255,771 
274,431 
Current assets
Inventories
15,000 
15,000 
Debtors
239,195 
269,610 
Cash at bank and in hand
83,541 
2 
337,736 
284,612 
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)
Net assets
271,924 
75,818 
Capital and reserves
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
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TELFORD LAUNDRY LTD Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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
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.
Leased assets
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.
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TELFORD LAUNDRY LTD Notes to the Accounts for the year ended 31 August 2023
Pension costs
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.
Charges
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 
£ 
Cost
At 1 September 2022
10,000 
At 31 August 2023
10,000 
Amortisation
At 1 September 2022
8,000 
Charge for the year
1,000 
At 31 August 2023
9,000 
Net book value
At 31 August 2023
1,000 
At 31 August 2022
2,000 
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 
Depreciation
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 
Net book value
At 31 August 2023
253,547 
1,224 
254,771 
At 31 August 2022
270,978 
1,453 
272,431 
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TELFORD LAUNDRY LTD Notes to the Accounts for the year ended 31 August 2023
6
Debtors
2023 
2022 
£ 
£ 
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 
239,195 
269,610 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
17,291 
VAT
11,929 
68,139 
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 
Accruals
2,520 
1,500 
304,099 
445,740 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
17,484 
37,485 
9
Average number of employees
During the year the average number of employees was 36 (2022: 39).
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