Registered number
SC558811
Spotless Property Services Ltd
Unaudited Filleted Accounts
31 March 2023
Spotless Property Services Ltd
Registered number: SC558811
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 32,760 14,013
Current assets
Stocks 2,617 1,905
Debtors 4 26,117 12,085
Cash at bank 4,377 5,761
33,111 19,751
Creditors: amounts falling due within one year 5 (34,676) (33,203)
Net current liabilities (1,565) (13,452)
Total assets less current liabilities 31,195 561
Creditors: amounts falling due after more than one year 6 (16,345) -
Net assets 14,850 561
Capital and reserves
Called up share capital 4 4
Profit and loss account 14,846 557
Shareholders' funds 14,850 561
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alasdair J Ingram
Director
Approved by the board on 22 December 2023
Spotless Property Services Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & machinery 25% straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
At 1 April 2022 37,274 23,146 60,420
Additions 3,189 21,871 25,060
At 31 March 2023 40,463 45,017 85,480
Depreciation
At 1 April 2022 29,213 17,194 46,407
Charge for the year 4,369 1,944 6,313
At 31 March 2023 33,582 19,138 52,720
Net book value
At 31 March 2023 6,881 25,879 32,760
At 31 March 2022 8,061 5,952 14,013
4 Debtors 2023 2022
£ £
Trade debtors 22,083 10,247
Other taxes & social security 2,425 -
Pensions repayable 32 -
Prepayments 1,577 1,838
26,117 12,085
5 Creditors: amounts falling due within one year 2023 2022
£ £
Director's loan account 17,045 15,304
Bank loans 6,000 -
Trade creditors 7,029 11,398
Accruals 2,195 1,125
Taxation & social security costs 528 5,061
Deferred Tax 1,879 -
Pensions payable - 40
Wages payable - 275
34,676 33,203
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 12,000 -
Deferred Tax 4,345 -
16,345 -
7 Related party transactions
At the year end the director, Alasdair Ingram, was owed £17,045 (2022: £15,304) by the company. This balance includes interest of £Nil (2022: £2,442), charged to the company on the outstanding balance owed to the director and expensed to the profit and loss in the year.
8 Other information
Spotless Property Services Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
1 Strongarbh Park
Strongarbh
Tobermory
Isle of Mull
PA75 6RB
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