Registered number
07059231
Exeter Cleaning Company (SW) Limited
Unaudited Filleted Accounts
31 October 2023
Exeter Cleaning Company (SW) Limited
Registered number: 07059231
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,841 8,188
Current assets
Stocks 1,000 1,000
Debtors 4 104,160 116,739
Cash at bank and in hand 43,711 13,014
148,871 130,753
Creditors: amounts falling due within one year 5 (55,990) (47,457)
Net current assets 92,881 83,296
Total assets less current liabilities 97,722 91,484
Provisions for liabilities (823) (1,373)
Net assets 96,899 90,111
Capital and reserves
Called up share capital 3,000 3,000
Share premium 2,000 2,000
Profit and loss account 91,899 85,111
Shareholders' funds 96,899 90,111
The directors are 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 directors acknowledge their 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.
Mr M Walker
Director
Approved by the board on 10 April 2024
Exeter Cleaning Company (SW) Limited
Notes to the Accounts
for the year ended 31 October 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). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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 rendering of services. 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:
Land and buildings 10% straight line
Plant and machinery 25% reducing balance
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 and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 27 24
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 4,485 17,362 26,047 47,894
Additions - 597 - 597
Disposals - (295) (14,504) (14,799)
At 31 October 2023 4,485 17,664 11,543 33,692
Depreciation
At 1 November 2022 3,528 13,223 22,955 39,706
Charge for the year 449 1,156 289 1,894
On disposals - (181) (12,568) (12,749)
At 31 October 2023 3,977 14,198 10,676 28,851
Net book value
At 31 October 2023 508 3,466 867 4,841
At 31 October 2022 957 4,139 3,092 8,188
4 Debtors 2023 2022
£ £
Trade debtors 46,651 47,911
Other debtors 57,509 68,828
104,160 116,739
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,454 494
Taxation and social security costs 51,929 46,465
Other creditors 607 498
55,990 47,457
6 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 21,783 3,842
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Interest free and repayable on demand
65,865 56,507 (68,286) 54,086
65,865 56,507 (68,286) 54,086
8 Other information
Exeter Cleaning Company (SW) Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Providence Court
Pynes Hill
Exeter
Devon
EX2 5JL
Exeter Cleaning Company (SW) Limited 07059231 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts April 2024 Mr M Walker No description of principal activity 07059231 2021-11-01 2022-10-31 07059231 core:WithinOneYear 2022-10-31 07059231 core:ShareCapital 2022-10-31 07059231 core:SharePremium 2022-10-31 07059231 core:RetainedEarningsAccumulatedLosses 2022-10-31 07059231 core:AllPeriods 2022-10-31 07059231 2022-11-01 2023-10-31 07059231 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07059231 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 07059231 bus:Director40 2022-11-01 2023-10-31 07059231 1 2022-11-01 2023-10-31 07059231 core:LandBuildings 2022-11-01 2023-10-31 07059231 core:PlantMachinery 2022-11-01 2023-10-31 07059231 core:Vehicles 2022-11-01 2023-10-31 07059231 bus:Director1 2022-11-01 2023-10-31 07059231 bus:Director1 1 2022-11-01 2023-10-31 07059231 countries:England 2022-11-01 2023-10-31 07059231 bus:FRS102 2022-11-01 2023-10-31 07059231 bus:FilletedAccounts 2022-11-01 2023-10-31 07059231 2023-10-31 07059231 core:WithinOneYear 2023-10-31 07059231 core:ShareCapital 2023-10-31 07059231 core:SharePremium 2023-10-31 07059231 core:RetainedEarningsAccumulatedLosses 2023-10-31 07059231 core:LandBuildings 2023-10-31 07059231 core:PlantMachinery 2023-10-31 07059231 core:Vehicles 2023-10-31 07059231 core:AllPeriods 2023-10-31 07059231 bus:Director1 1 2023-10-31 07059231 2022-10-31 07059231 core:LandBuildings 2022-10-31 07059231 core:PlantMachinery 2022-10-31 07059231 core:Vehicles 2022-10-31 07059231 bus:Director1 1 2022-10-31 iso4217:GBP xbrli:pure