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REGISTERED NUMBER: 05737043 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2023

FOR

IDEAL 365 LIMITED

IDEAL 365 LIMITED (REGISTERED NUMBER: 05737043)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IDEAL 365 LIMITED

COMPANY INFORMATION
for the Year Ended 30th April 2023







DIRECTORS: Mr M P Starr
Mrs S J Starr
Mr J Relph
Mr S R Smith





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 05737043 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

IDEAL 365 LIMITED (REGISTERED NUMBER: 05737043)

BALANCE SHEET
30th April 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 958,906 656,932
958,906 656,932

CURRENT ASSETS
Stocks 743,110 506,812
Debtors 6 1,645,209 1,130,979
Cash at bank and in hand 775,048 1,107,370
3,163,367 2,745,161
CREDITORS
Amounts falling due within one year 7 (2,061,695 ) (1,653,337 )
NET CURRENT ASSETS 1,101,672 1,091,824
TOTAL ASSETS LESS CURRENT LIABILITIES 2,060,578 1,748,756

CREDITORS
Amounts falling due after more than one
year

8

(510,303

)

(202,195

)

PROVISIONS FOR LIABILITIES (108,461 ) (139,103 )
NET ASSETS 1,441,814 1,407,458

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 1,441,614 1,407,258
SHAREHOLDERS' FUNDS 1,441,814 1,407,458

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

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

The directors acknowledge their 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.

IDEAL 365 LIMITED (REGISTERED NUMBER: 05737043)

BALANCE SHEET - continued
30th April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th January 2024 and were signed on its behalf by:





Mr M P Starr - Director


IDEAL 365 LIMITED (REGISTERED NUMBER: 05737043)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2023


1. STATUTORY INFORMATION

Ideal 365 Limited is a private company limited by share capital, incorporated in England and Wales, registration number 05737043. The address of the registered office is 100 Barbirolli Square, Manchester M2 3BD. The principal place of business address is Unit 1, Sunmill, Gower Street, Farnworth, Bolton, Lancashire, BL4 7EY.

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 represents amounts recognised by the company in respect of goods supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the sale of cleaning, hygiene supplies, and workwear which are recognised at the point of which the goods are provided.

Goodwill
Goodwill is the difference between amounts paid on acquisition of a business and the fair value of the identifiable assets and liabilities. It has been fully amortised to the profit and loss account over its estimated useful economic life of 5 years.

Tangible fixed assets
Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Improvements to property-15% on reducing balance
Fixtures and fittings-10% on cost
Motor vehicles-25% on reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise purchase, duty and carriage are based on the method most appropriate to the type of stock, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Provisions are made for obsolete, slow moving or defective items where appropriate.


IDEAL 365 LIMITED (REGISTERED NUMBER: 05737043)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease term and their useful lives. The capital element of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term.

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.

The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

IDEAL 365 LIMITED (REGISTERED NUMBER: 05737043)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023


2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalent
Cash and cash equivalents are represented by cash at bank and in hand. Bank borrowings and overdrafts are included in creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st May 2022
and 30th April 2023 13,800
AMORTISATION
At 1st May 2022
and 30th April 2023 13,800
NET BOOK VALUE
At 30th April 2023 -
At 30th April 2022 -

IDEAL 365 LIMITED (REGISTERED NUMBER: 05737043)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1st May 2022 181,768 391,742 409,042 982,552
Additions - 92,240 522,851 615,091
Disposals - - (147,950 ) (147,950 )
At 30th April 2023 181,768 483,982 783,943 1,449,693
DEPRECIATION
At 1st May 2022 71,329 128,392 125,899 325,620
Charge for year 16,568 44,819 147,423 208,810
Eliminated on disposal - - (43,643 ) (43,643 )
At 30th April 2023 87,897 173,211 229,679 490,787
NET BOOK VALUE
At 30th April 2023 93,871 310,771 554,264 958,906
At 30th April 2022 110,439 263,350 283,143 656,932

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,002,928 721,005
Other debtors 642,281 409,974
1,645,209 1,130,979

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,709 21,806
Hire purchase contracts (see note 9) 87,200 55,660
Trade creditors 1,594,856 1,278,623
Taxation and social security 237,226 182,378
Other creditors 122,704 114,870
2,061,695 1,653,337

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 510,303 202,195

IDEAL 365 LIMITED (REGISTERED NUMBER: 05737043)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 87,200 55,660
Between one and five years 510,303 202,195
597,503 257,855

Non-cancellable operating leases
2023 2022
£    £   
Within one year 20,650 22,677
Between one and five years 3,900 16,177
24,550 38,854

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 597,503 257,855

National Westminster Bank PLC holds a charge, dated 5th December 2018, creating a fixed charge over all the property or undertaking of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class
Nominal
Value:

2023


2022
£ £
98 Ordinary A £1.00 98 100
87 Ordinary B £1.00 87 90
10 Ordinary C £1.00 10 10
4 Ordinary D £1.00 4
1 Ordinary E £1.00 1
200 200

During the year, 2 Ordinary A Shares were converted into Ordinary D Shares and 3 Ordinary B Shares were converted into 2 Ordinary D Shares and 1 Ordinary E Share.

IDEAL 365 LIMITED (REGISTERED NUMBER: 05737043)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2023


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors are amounts owed to directors of £73,181 (2022: £71,149). These amounts represent interest free loans that are repayable on demand.

13. RELATED PARTY DISCLOSURES

Included in Other Debtors are amounts owed from companies under common control of £545,889 (2022: £364,391). These loans are interest free and repayable on demand.