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COMPANY REGISTRATION NUMBER: 01163193
C.L.D. Services Limited
Filleted Unaudited Accounts
31 July 2023
C.L.D. Services Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
50,578
21,252
Current assets
Stocks
110,254
135,892
Debtors
7
892,434
917,651
Cash at bank and in hand
648,385
605,811
------------
------------
1,651,073
1,659,354
Creditors: amounts falling due within one year
8
( 549,858)
( 575,334)
------------
------------
Net current assets
1,101,215
1,084,020
------------
------------
Total assets less current liabilities
1,151,793
1,105,272
------------
------------
Net assets
1,151,793
1,105,272
------------
------------
Capital and reserves
Called up share capital
10
889
889
Capital redemption reserve
996
996
Profit and loss account
1,149,908
1,103,387
------------
------------
Shareholders funds
1,151,793
1,105,272
------------
------------
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
C.L.D. Services Limited
Statement of Financial Position (continued)
31 July 2023
These accounts were approved by the board of directors and authorised for issue on 8 February 2024 , and are signed on behalf of the board by:
P. Shellard
Director
Company registration number: 01163193
C.L.D. Services Limited
Notes to the Accounts
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 170 Brooker Road, Waltham Abbey, Essex, EN9 1JH.
2. Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Going concern
In the opinion of the directors the company is a going concern and the accounts have been prepared on this basis. In forming this opinion the directors have undertaken a thorough review of the business and consider the company to have sufficient financial resources from which to continue trading for the foreseeable future.
Revenue recognition
The turnover shown in the profit and loss accounts represents the fair value of consideration invoiced for cleaning and maintenance services undertaken in the period, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Equipment
-
20% on written down value or over 3 years on cost
Motor Vehicles
-
20% on written down value or over 3 years on cost
Office Equipment
-
10/20% on written down value or over 3 years on cost
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 206 (2022: 201 ).
5. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
2023
2022
£
£
Dividends on 'B' shares
136,000
114,000
Dividends on 'C' shares
34,000
29,000
---------
---------
170,000
143,000
---------
---------
6. Tangible assets
Plant & Equipment
Motor Vehicles
Office Equipment
Total
£
£
£
£
Cost
At 1 August 2022
292,815
48,639
214,282
555,736
Additions
29,527
17,590
3,304
50,421
Disposals
( 8,279)
( 178,381)
( 186,660)
---------
--------
---------
---------
At 31 July 2023
322,342
57,950
39,205
419,497
---------
--------
---------
---------
Depreciation
At 1 August 2022
286,704
40,697
207,083
534,484
Charge for the year
9,289
7,205
4,602
21,096
Disposals
( 8,279)
( 178,382)
( 186,661)
---------
--------
---------
---------
At 31 July 2023
295,993
39,623
33,303
368,919
---------
--------
---------
---------
Carrying amount
At 31 July 2023
26,349
18,327
5,902
50,578
---------
--------
---------
---------
At 31 July 2022
6,111
7,942
7,199
21,252
---------
--------
---------
---------
7. Debtors
2023
2022
£
£
Trade debtors
824,388
867,173
Other debtors
68,046
50,478
---------
---------
892,434
917,651
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
167,784
151,463
Corporation tax
47,277
44,590
Social security and other taxes
234,447
226,241
Other creditors
100,350
153,040
---------
---------
549,858
575,334
---------
---------
9. Government grants
The amounts recognised in the accounts for government grants are as follows:
2023
2022
£
£
Recognised in other operating income:
Government grants recognised directly in income
26,242
----
--------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary 'A' shares of £ 1 each
802
802
802
802
Ordinary 'B' shares of £ 1 each
66
66
66
66
Ordinary 'C' shares of £ 1 each
21
21
21
21
----
----
----
----
889
889
889
889
----
----
----
----
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
42,271
55,923
Later than 1 year and not later than 5 years
48,874
19,181
--------
--------
91,145
75,104
--------
--------
12. Directors' advances, credits and guarantees
Throughout the year the directors provided the company with a short term advance and at the balance sheet date the amount repayable was £13,964 (2022: £15,173). This advance is considered repayable on demand and is free from interest.
13. Related party transactions
The company was under the control of the directors throughout the current and previous year. No related party transactions or balances were identified for disclosure under the requirements of FRS 102 Section 1A.