Company registration number 04622156 (England and Wales)
SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Southern Counties Janitorial Supplies Limited for the year ended 31 January 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Southern Counties Janitorial Supplies Limited, as a body, in accordance with the terms of our engagement letter dated 2 February 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Southern Counties Janitorial Supplies Limited and state those matters that we have agreed to state to the board of directors of Southern Counties Janitorial Supplies Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southern Counties Janitorial Supplies Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Southern Counties Janitorial Supplies Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Southern Counties Janitorial Supplies Limited. You consider that Southern Counties Janitorial Supplies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Southern Counties Janitorial Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
16 April 2024
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1
1
Tangible assets
4
14,126
18,835
14,127
18,836
Current assets
Stocks
56,342
70,498
Debtors
5
149,512
145,296
Cash at bank and in hand
-
0
126
205,854
215,920
Creditors: amounts falling due within one year
6
(223,762)
(222,150)
Net current liabilities
(17,908)
(6,230)
Total assets less current liabilities
(3,781)
12,606
Creditors: amounts falling due after more than one year
7
(23,262)
(36,555)
Provisions for liabilities
(2,684)
(3,579)
Net liabilities
(29,727)
(27,528)
Capital and reserves
Called up share capital
8
200
200
Profit and loss reserves
(29,927)
(27,728)
Total equity
(29,727)
(27,528)

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 January 2024 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.

SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 16 April 2024 and are signed on its behalf by:
Mr A Kent
Mr N Kent
Director
Director
Company registration number 04622156 (England and Wales)
SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

Southern Counties Janitorial Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is 95 Hollingdean Road, Brighton, East Sussex, BN2 4AA.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties and the impact of subsequent events in making their assessment. true

 

At the balance sheet date the company is in a net liabilities position. The company is reliant on the ongoing support of its creditors and is meeting its liabilities as they fall due. The financial statements do not include any adjustments that would result in the withdrawal of their support.

 

Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.
1.5
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:

Fixtures, fittings & equipment
10% per annum straight line
Computer equipment
25% per annum straight line
Motor vehicles
25% per annum diminishing 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.

SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.7
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.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.9
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

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.

SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 8 (2023 - 8).

3
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
280,000
Amortisation and impairment
At 1 February 2023 and 31 January 2024
279,999
Carrying amount
At 31 January 2024
1
At 31 January 2023
1
4
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2023 and 31 January 2024
3,052
9,990
44,449
57,491
Depreciation and impairment
At 1 February 2023
3,052
9,990
25,614
38,656
Depreciation charged in the year
-
0
-
0
4,709
4,709
At 31 January 2024
3,052
9,990
30,323
43,365
Carrying amount
At 31 January 2024
-
0
-
0
14,126
14,126
At 31 January 2023
-
0
-
0
18,835
18,835
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
110,896
111,844
Other debtors
38,616
33,452
149,512
145,296
SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
55,422
54,185
Trade creditors
137,102
137,506
Taxation and social security
21,022
10,542
Other creditors
10,216
19,917
223,762
222,150

The hire purchase included in other creditors, £3,216 (2023 - 2,822), and the bank overdraft are secured. The company has a bounce back loan which is government backed.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
17,365
27,442
Other creditors
5,897
9,113
23,262
36,555

The hire purchase liability included in other creditors is secured over the underlying asset, £5,897 (2023 - £9,113). The company has a bounce back loan which is government backed.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
200
200
200
200
9
Operating lease commitments

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

2024
2023
£
£
25,050
25,050
SOUTHERN COUNTIES JANITORIAL SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
10
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Director
-
9,059
2,823
11,882
Director
-
-
1,485
1,485
9,059
4,308
13,367
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