BrightAccountsProduction v1.0.0 v1.0.0 2022-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the laundering of textiles and other products for the commercial and domestic sectors. 31 July 2024 25 22 NI608854 2023-10-31 NI608854 2022-10-31 NI608854 2021-10-31 NI608854 2022-11-01 2023-10-31 NI608854 2021-11-01 2022-10-31 NI608854 uk-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI608854 uk-curr:PoundSterling 2022-11-01 2023-10-31 NI608854 uk-bus:AbridgedAccounts 2022-11-01 2023-10-31 NI608854 uk-core:ShareCapital 2023-10-31 NI608854 uk-core:ShareCapital 2022-10-31 NI608854 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI608854 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 NI608854 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI608854 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-10-31 NI608854 uk-bus:FRS102 2022-11-01 2023-10-31 NI608854 uk-core:Goodwill 2022-11-01 2023-10-31 NI608854 uk-core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 NI608854 uk-core:MotorVehicles 2022-11-01 2023-10-31 NI608854 uk-core:Goodwill 2022-10-31 NI608854 uk-core:Goodwill 2023-10-31 NI608854 2022-11-01 2023-10-31 NI608854 uk-bus:Director1 2022-11-01 2023-10-31 NI608854 uk-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI608854
 
 
Valet Laundry Services Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 October 2023
Valet Laundry Services Ltd
Company Registration Number: NI608854
ABRIDGED BALANCE SHEET
as at 31 October 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 54,588 51,564
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Current Assets
Stocks 2,000 2,000
Debtors 87,781 72,744
Cash and cash equivalents 10,671 3,000
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100,452 77,744
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Creditors: amounts falling due within one year (114,340) (102,972)
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Net Current Liabilities (13,888) (25,228)
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Total Assets less Current Liabilities 40,700 26,336
 
Creditors:
amounts falling due after more than one year (15,518) (25,337)
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Net Assets 25,182 999
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Capital and Reserves
Called up share capital 1 1
Retained earnings 25,181 998
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Equity attributable to owners of the company 25,182 999
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 31 July 2024
           
           
           
________________________________          
Mr. John Campbell          
Director          
           



Valet Laundry Services Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
Valet Laundry Services Ltd is a company limited by shares incorporated in Northern Ireland. 16 Mount Charles, Belfast, BT7 1NZ is the registered office. 301 Glen Road, Belfast, BT11 8BU is the principal place of business of the company . The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 October 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The going concern basis assumes that the company will continue in operational existence for the foreseeable future, having adequate funds to meet its obligations as they fall due.   The directors have concluded that these events and conditions represent a material uncertainty that may cast significant doubt on the entity’s ability to continue as a going concern. Nevertheless, after making enquiries and considering the uncertainties described above, the directors have a reasonable expectation that the company will have adequate resources to continue in operation existence for the foreseeable future.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% reducing balance/33% Straight line
  Motor vehicles - 20% reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was;
 
  2023 2022
  Number Number
 
Employees 25 22
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 November 2022 3,268 3,268
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At 31 October 2023 3,268 3,268
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Amortisation
 
At 31 October 2023 3,268 3,268
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Net book value
At 31 October 2023 - -
  ═════════ ═════════
         
5. Tangible assets
  Fixtures, Motor Total
  fittings and vehicles  
  equipment    
  £ £ £
Cost
At 1 November 2022 254,285 42,265 296,550
Additions 22,776 - 22,776
  ───────── ───────── ─────────
At 31 October 2023 277,061 42,265 319,326
  ───────── ───────── ─────────
Depreciation
At 1 November 2022 211,787 33,199 244,986
Charge for the financial year 17,939 1,813 19,752
  ───────── ───────── ─────────
At 31 October 2023 229,726 35,012 264,738
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Net book value
At 31 October 2023 47,335 7,253 54,588
  ═════════ ═════════ ═════════
At 31 October 2022 42,498 9,066 51,564
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6. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.