Company registration number 04904420 (England and Wales)
IRONING 4 U LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
IRONING 4 U LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
IRONING 4 U LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
27,115
28,319
Current assets
Debtors
5
3,647
28,722
Cash at bank and in hand
95,983
81,116
99,630
109,838
Creditors: amounts falling due within one year
6
(104,606)
(115,746)
Net current liabilities
(4,976)
(5,908)
Total assets less current liabilities
22,139
22,411
Creditors: amounts falling due after more than one year
7
(3,588)
(18,087)
Net assets
18,551
4,324
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
18,451
4,224
Total equity
18,551
4,324

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 30 November 2023 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.

The financial statements were approved by the board of directors and authorised for issue on 24 April 2024 and are signed on its behalf by:
Mr Keith  Rule
Director
Company registration number 04904420 (England and Wales)
IRONING 4 U LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Ironing 4 U Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Cochran Close, Crownhill, Milton Keynes, MK8 0AJ.

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.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
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:

Plant and equipment
10% on reducing balance
Fixtures and fittings
10% on reducing balance
Computers
10% on reducing balance
Motor vehicles
10% on 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.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

IRONING 4 U LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
9
8
3
Intangible fixed assets
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
17,395
Amortisation and impairment
At 1 December 2022 and 30 November 2023
17,395
Carrying amount
At 30 November 2023
-
0
At 30 November 2022
-
0
IRONING 4 U LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2022
50,643
18,519
2,598
15,000
86,760
Additions
1,809
-
0
-
0
-
0
1,809
At 30 November 2023
52,452
18,519
2,598
15,000
88,569
Depreciation and impairment
At 1 December 2022
36,189
8,652
2,098
11,502
58,441
Depreciation charged in the year
1,626
987
50
350
3,013
At 30 November 2023
37,815
9,639
2,148
11,852
61,454
Carrying amount
At 30 November 2023
14,637
8,880
450
3,148
27,115
At 30 November 2022
14,454
9,867
500
3,498
28,319
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,647
28,722
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,987
33,085
Corporation tax
9,304
24,280
Other taxation and social security
2,744
12,313
Other creditors
90,571
46,068
104,606
115,746
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
3,588
18,087
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