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REGISTERED NUMBER: 10022486 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

GMF LAUNDRY SERVICES LIMITED

GMF LAUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10022486)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GMF LAUNDRY SERVICES LIMITED

COMPANY INFORMATION
for the Year Ended 29th February 2024







DIRECTORS: Mr G McFadden
Mrs C McFadden





SECRETARY:





REGISTERED OFFICE: Unit 3
Ullswater Business Park
Penrith
Cumbria
CA11 7EH





REGISTERED NUMBER: 10022486 (England and Wales)





ACCOUNTANTS: DCB Accountants Limited
Compton House
104 Scotland Road
Penrith
Cumbria
CA11 7NR

GMF LAUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10022486)

BALANCE SHEET
29th February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,205 52,273

CURRENT ASSETS
Stocks 5 7,671 15,770
Debtors 6 13,933 14,416
Cash at bank and in hand 2,178 2,178
23,782 32,364
CREDITORS
Amounts falling due within one year 7 34,030 32,630
NET CURRENT LIABILITIES (10,248 ) (266 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,957

52,007

CREDITORS
Amounts falling due after more than one
year

8

(13,765

)

(28,170

)

PROVISIONS FOR LIABILITIES 10 (6,268 ) (8,492 )
NET ASSETS 8,924 15,345

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 12 7,924 14,345
SHAREHOLDERS' FUNDS 8,924 15,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 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.

GMF LAUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10022486)

BALANCE SHEET - continued
29th February 2024


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 Income Statement has not been delivered.

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





Mr G McFadden - Director


GMF LAUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10022486)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

GMF Laundry Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

GMF LAUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10022486)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st March 2023
and 29th February 2024 88,213 47,490 135,703
DEPRECIATION
At 1st March 2023 67,519 15,911 83,430
Charge for year 5,173 7,895 13,068
At 29th February 2024 72,692 23,806 96,498
NET BOOK VALUE
At 29th February 2024 15,521 23,684 39,205
At 28th February 2023 20,694 31,579 52,273

5. STOCKS
29.2.24 28.2.23
£    £   
Stock at cost 7,671 15,770

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 13,933 11,273
VAT - 3,143
13,933 14,416

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts (see note 9) 12,922 23,309
Trade creditors 5,706 3,538
Tax 3,566 -
Social security and other taxes 6,320 4,223
VAT 3,906 -
Accrued expenses 1,610 1,560
34,030 32,630

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans (see note 9) 12,037 24,143
Director's loan accounts 1,728 4,027
13,765 28,170

GMF LAUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10022486)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

9. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 2,459 13,441
Bank loans 10,463 9,868
12,922 23,309

Amounts falling due between two and five years:
Bank loans - 2-5 years 12,037 24,143

10. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 6,268 8,492

Deferred
tax
£   
Balance at 1st March 2023 8,492
Credit to Income Statement during year (2,224 )
Balance at 29th February 2024 6,268

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. RESERVES
Retained
earnings
£   

At 1st March 2023 14,345
Profit for the year 27,579
Dividends (34,000 )
At 29th February 2024 7,924