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Registration number: 9605153

Andrew's Cleaning South West Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Andrew's Cleaning South West Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Andrew's Cleaning South West Limited

Company Information

Directors

Mr Andrew Robinson

Mrs Eileen Robinson

Registered office

53 Summerfield Road
Torquay
Devon
TQ2 7DL

Accountants

Neil Wilson Accountancy Limited
42a Walnut Road
Chelston
Torquay
Devon
TQ2 6HS

 

Andrew's Cleaning South West Limited

(Registration number: 9605153)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,500

3,000

Tangible assets

5

7,422

9,897

 

8,922

12,897

Current assets

 

Debtors

6

91,225

59,870

Cash at bank and in hand

 

1,476

5,785

 

92,701

65,655

Creditors: Amounts falling due within one year

7

(60,772)

(69,764)

Net current assets/(liabilities)

 

31,929

(4,109)

Total assets less current liabilities

 

40,851

8,788

Provisions for liabilities

(30,000)

-

Net assets

 

10,851

8,788

Capital and reserves

 

Called up share capital

8

5

5

Retained earnings

10,846

8,783

Shareholders' funds

 

10,851

8,788

For the financial year ending 31 May 2024 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 July 2024 and signed on its behalf by:
 

 

Andrew's Cleaning South West Limited

(Registration number: 9605153)
Balance Sheet as at 31 May 2024

.........................................
Mr Andrew Robinson
Director

.........................................
Mrs Eileen Robinson
Director

 

Andrew's Cleaning South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
53 Summerfield Road
Torquay
Devon
TQ2 7DL

These financial statements were authorised for issue by the Board on 24 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Accounts have been prepared in pound sterling. All figures are rounded to the nearest whole pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Andrew's Cleaning South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance basis

Motor vehicles

25% reducing balance basis

Plant & machinery

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Andrew's Cleaning South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 15).

 

Andrew's Cleaning South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

15,000

15,000

At 31 May 2024

15,000

15,000

Amortisation

At 1 June 2023

12,000

12,000

Amortisation charge

1,500

1,500

At 31 May 2024

13,500

13,500

Carrying amount

At 31 May 2024

1,500

1,500

At 31 May 2023

3,000

3,000

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

1,250

21,345

7,223

29,818

At 31 May 2024

1,250

21,345

7,223

29,818

Depreciation

At 1 June 2023

879

13,010

6,032

19,921

Charge for the year

93

2,084

298

2,475

At 31 May 2024

972

15,094

6,330

22,396

Carrying amount

At 31 May 2024

278

6,251

893

7,422

At 31 May 2023

371

8,335

1,191

9,897

6

Debtors

 

Andrew's Cleaning South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Current

Note

2024
£

2023
£

Trade debtors

 

20,077

16,719

Amounts owed by related parties

11

34,755

43,151

Other debtors

 

36,393

-

   

91,225

59,870

 

Andrew's Cleaning South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

30,436

31,940

Taxation and social security

 

28,375

33,974

Accruals and deferred income

 

1,961

3,725

Other creditors

 

-

125

 

60,772

69,764

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

5

5

5

5

         

9

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

26,332

26,962

Other borrowings

4,104

4,978

30,436

31,940

10

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £4,000.00 (2023 - £14,000.00) per ordinary share

 

20,000

 

70,000

         

 

Andrew's Cleaning South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

11

Related party transactions

Transactions with directors

2024

At 1 June 2023
£

Advances to director
£

Repayments by director
£

At 31 May 2024
£

Mr Andrew Robinson

Director loan

2,184

15,204

-

17,388

         
       

Mrs Eileen Robinson

Directors loan

21,576

-

4,189

25,765

         
       

 

2023

At 1 June 2022
£

Repayments by director
£

At 31 May 2023
£

Mr Andrew Robinson

Director loan

23,730

(21,546)

2,184

       
     

Mrs Eileen Robinson

Directors loan

23,730

(2,154)

21,576

       
     

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,140

25,140

Contributions paid to money purchase schemes

30,000

(30,000)

55,140

(4,860)

Dividends paid to directors

 

Andrew's Cleaning South West Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

   

2024
£

 

2023
£

Mr Andrew Robinson

       

Interim dividends paid

 

7,500

 

35,000

Interim dividend paid

 

2,500

 

-

   

10,000

 

35,000

Mrs Eileen Robinson

       

Interim dividends paid

 

7,500

 

35,000

Interim dividend paid

 

2,500

 

-

   

10,000

 

35,000