Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31truefalse2022-04-01falseGeneral Cleaning of Building320365The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07305430 2022-04-01 2023-03-31 07305430 2021-04-01 2022-03-31 07305430 2023-03-31 07305430 2022-03-31 07305430 c:Director1 2022-04-01 2023-03-31 07305430 d:PlantMachinery 2022-04-01 2023-03-31 07305430 d:PlantMachinery 2023-03-31 07305430 d:PlantMachinery 2022-03-31 07305430 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07305430 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 07305430 d:MotorVehicles 2022-04-01 2023-03-31 07305430 d:MotorVehicles 2023-03-31 07305430 d:MotorVehicles 2022-03-31 07305430 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07305430 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 07305430 d:FurnitureFittings 2022-04-01 2023-03-31 07305430 d:FurnitureFittings 2023-03-31 07305430 d:FurnitureFittings 2022-03-31 07305430 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07305430 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 07305430 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07305430 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 07305430 d:Goodwill 2023-03-31 07305430 d:Goodwill 2022-03-31 07305430 d:CurrentFinancialInstruments 2023-03-31 07305430 d:CurrentFinancialInstruments 2022-03-31 07305430 d:Non-currentFinancialInstruments 2023-03-31 07305430 d:Non-currentFinancialInstruments 2022-03-31 07305430 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07305430 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07305430 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07305430 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07305430 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07305430 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 07305430 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07305430 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 07305430 d:ShareCapital 2023-03-31 07305430 d:ShareCapital 2022-03-31 07305430 d:RetainedEarningsAccumulatedLosses 2023-03-31 07305430 d:RetainedEarningsAccumulatedLosses 2022-03-31 07305430 c:FRS102 2022-04-01 2023-03-31 07305430 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07305430 c:FullAccounts 2022-04-01 2023-03-31 07305430 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07305430 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 07305430 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 07305430 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 07305430 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 07305430 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 07305430 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-03-31 07305430 d:LeasedAssetsHeldAsLessee 2023-03-31 07305430 d:LeasedAssetsHeldAsLessee 2022-03-31 07305430 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 07305430









PRIME CLEAN LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
PRIME CLEAN LIMITED
REGISTERED NUMBER: 07305430

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
393,500
375,044

  
393,500
375,044

Current assets
  

Debtors
 6 
2,722,701
3,114,415

Cash at bank and in hand
 7 
231,059
131,005

  
2,953,760
3,245,420

Creditors: amounts falling due within one year
 8 
(2,356,274)
(2,699,824)

Net current assets
  
 
 
597,486
 
 
545,596

Total assets less current liabilities
  
990,986
920,640

Creditors: amounts falling due after more than one year
 9 
(197,996)
(201,637)

  

Net assets
  
792,990
719,003


Capital and reserves
  

Called up share capital 
  
425,000
425,000

Profit and loss account
  
367,990
294,003

  
792,990
719,003


Page 1

 
PRIME CLEAN LIMITED
REGISTERED NUMBER: 07305430
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 August 2024.




R Lancaster Esq
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
PRIME CLEAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Prime Clean Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Unit 2 Skyline Business Village, Limeharbour, London, E14 9TS. 
The principal activity of the company during the year continued to be that of cleaning contractors.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
PRIME CLEAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in Statement of comprehensive income in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Taxation

Tax is recognised in Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 4

 
PRIME CLEAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.9

Invoice discounting

The company discounts its sales invoices. The accounting policy is to disclose the full debt within trade debtors with discounted proceeds presented separately within creditors. Discount costs and interest are charged to the Statement of comprehensive income as incurred. Amounts due to the invoice discounting provider are disclosed under bank overdrafts.

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

  
2.11

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:.


Plant and machinery
-
15%
reducing balance
Motor vehicles
-
15%
reducing balance
Fixtures and fittings
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
PRIME CLEAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.16

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 365 (2022 - 365).

Page 6

 
PRIME CLEAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
227,250



At 31 March 2023

227,250



Amortisation


At 1 April 2022
227,250



At 31 March 2023

227,250



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 7

 
PRIME CLEAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2022
284,381
369,533
5,970
659,884


Additions
39,342
92,189
-
131,531


Disposals
-
(150,748)
-
(150,748)



At 31 March 2023

323,723
310,974
5,970
640,667



Depreciation


At 1 April 2022
132,343
148,950
3,547
284,840


Charge for the year on owned assets
26,441
-
364
26,805


Charge for the year on financed assets
-
43,726
-
43,726


Disposals
-
(108,204)
-
(108,204)



At 31 March 2023

158,784
84,472
3,911
247,167



Net book value



At 31 March 2023
164,939
226,502
2,059
393,500



At 31 March 2022
152,038
220,583
2,423
375,044

The net book value of assets held under finance leases or hire purchase contracts, included above, is as follows:


2023
2022
£
£



Motor vehicles
226,502
199,315

226,502
199,315

Page 8

 
PRIME CLEAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors


2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
596,741
333,741

596,741
333,741

Due within one year

Trade debtors
1,449,036
1,830,027

Amounts owed by joint ventures and associated undertakings
298,933
-

Other debtors
353,422
950,647

Prepayments and accrued income
24,569
-

2,722,701
3,114,415



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
231,059
131,005

Less: bank overdrafts
(657,159)
(685,704)

(426,100)
(554,699)



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
657,159
685,704

Bank loans
43,320
74,441

Trade creditors
1,425,212
1,620,834

Corporation tax
92,078
92,078

Other taxation and social security
77,094
74,190

Obligations under finance lease and hire purchase contracts
33,972
56,571

Other creditors
12,489
43,543

Accruals and deferred income
14,950
52,463

2,356,274
2,699,824


Page 9

 
PRIME CLEAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
23,809
67,224

Net obligations under finance leases and hire purchase contracts
174,187
134,413

197,996
201,637


The following liabilities were secured:

2023
2022
£
£



Bank loans
67,129
107,772

Net obligations under finance leases and hire purchase contracts
208,159
190,984

Bank overdrafts
657,159
685,704

932,447
984,460



Bank loans are secured by way of a fixed and floating charge over all current and future assets of the company.
Liabilities under finance leases and hire purchase contracts are secured on the assets to which these contracts relate.
Bank overdrafts consist of an invoice discounting facility and is secured by way of a fixed and floating charge over all current and future assets of the company.

Page 10

 
PRIME CLEAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
43,320
74,441

Amounts falling due 1-2 years

Bank loans
23,809
43,320

Amounts falling due 2-5 years

Bank loans
-
23,904

67,129
141,665



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase contracts fall due as follows:

2023
2022
£
£


Within one year
33,972
56,571

Between 1-5 years
174,187
134,413

208,159
190,984


12.


Pension commitments

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. Included in creditors due within one year are outstanding contributions payable to the fund at the balance sheet date totalling £11,022 (2022: £42,076).

 
Page 11