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REGISTERED NUMBER: 08313238 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Ispeclean Limited

Ispeclean Limited (Registered number: 08313238)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ispeclean Limited

Company Information
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: R Wallis





REGISTERED OFFICE: Unit 10 Twizel Close Ro24 Business
Stonebridge
Milton Keynes
Buckinghamshire
MK13 0DX





REGISTERED NUMBER: 08313238 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Ispeclean Limited (Registered number: 08313238)

Balance Sheet
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,691 40,800

CURRENT ASSETS
Stocks 7,500 2,980
Debtors 5 50,175 111,240
Cash at bank and in hand 22,974 24,057
80,649 138,277
CREDITORS
Amounts falling due within one year 6 40,198 40,968
NET CURRENT ASSETS 40,451 97,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,142

138,109

CREDITORS
Amounts falling due after more than one
year

7

29,753

43,076
NET ASSETS 50,389 95,033

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 50,289 94,933
SHAREHOLDERS' FUNDS 50,389 95,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ispeclean Limited (Registered number: 08313238)

Balance Sheet - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 March 2024 and were signed by:





R Wallis - Director


Ispeclean Limited (Registered number: 08313238)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Ispeclean Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & machinery - 25% on reducing balance
Motor vehicles - 3 years and 25% on reducing balance
Computer equipment - 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Ispeclean Limited (Registered number: 08313238)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies 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.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 27 ) .

Ispeclean Limited (Registered number: 08313238)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 67,300
Additions 21,149
Disposals (9,000 )
At 30 November 2023 79,449
DEPRECIATION
At 1 December 2022 26,500
Charge for year 15,367
Eliminated on disposal (2,109 )
At 30 November 2023 39,758
NET BOOK VALUE
At 30 November 2023 39,691
At 30 November 2022 40,800

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 24,745
DEPRECIATION
At 1 December 2022 1,365
Charge for year 8,165
At 30 November 2023 9,530
NET BOOK VALUE
At 30 November 2023 15,215
At 30 November 2022 23,380

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 48,983 105,479
Other debtors 1,192 5,761
50,175 111,240

Ispeclean Limited (Registered number: 08313238)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 10,000 10,000
Finance leases (see note 9) 3,324 3,089
Trade creditors 2,633 4,534
Taxation and social security 12,987 16,591
Other creditors 11,254 6,754
40,198 40,968

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 16,667 26,667
Finance leases (see note 9) 13,086 16,409
29,753 43,076

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 6,667 16,667

The loan is guaranteed by the UK government.

Ispeclean Limited (Registered number: 08313238)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2023 2022
£    £   
Gross obligations repayable:
Within one year 4,215 4,215
Between one and five years 13,696 17,911
17,911 22,126

Finance charges repayable:
Within one year 891 1,126
Between one and five years 610 1,502
1,501 2,628

Net obligations repayable:
Within one year 3,324 3,089
Between one and five years 13,086 16,409
16,410 19,498

Non-cancellable operating leases
2023 2022
£    £   
Within one year 30,000 30,000
Between one and five years 52,500 82,500
82,500 112,500

10. PENSION COMMITMENTS

Contributions totalling £50 (2022: £169) were payable to the fund at the balance sheet date and are included in other creditors.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year - 1,769
Amounts advanced - 5,017
Amounts repaid - (6,786 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -