REGISTERED NUMBER: |
Unaudited Financial Statements |
FOR THE PERIOD |
1 October 2023 to 31 July 2024 |
for |
Bright Star Cleaners (MK) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
FOR THE PERIOD |
1 October 2023 to 31 July 2024 |
for |
Bright Star Cleaners (MK) Limited |
Bright Star Cleaners (MK) Limited (Registered number: 11568070) |
Contents of the Financial Statements |
FOR THE PERIOD 1 OCTOBER 2023 TO 31 JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Bright Star Cleaners (MK) Limited |
Company Information |
FOR THE PERIOD 1 OCTOBER 2023 TO 31 JULY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
The Stable Yard |
Vicarage Road |
Stony Stratford |
Milton Keynes |
Buckinghamshire |
MK11 1BN |
Bright Star Cleaners (MK) Limited (Registered number: 11568070) |
Balance Sheet |
31 JULY 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Bright Star Cleaners (MK) Limited (Registered number: 11568070) |
Notes to the Financial Statements |
FOR THE PERIOD 1 OCTOBER 2023 TO 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Bright Star Cleaners (MK) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The Company ceased trading on 31 July 2024 and the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date if applicable. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Bright Star Cleaners (MK) Limited (Registered number: 11568070) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 1 OCTOBER 2023 TO 31 JULY 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic Financial Assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised costs, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Bright Star Cleaners (MK) Limited (Registered number: 11568070) |
Notes to the Financial Statements - continued |
FOR THE PERIOD 1 OCTOBER 2023 TO 31 JULY 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 July 2024 and the year ended 30 September 2023: |
2024 | 2023 |
£ | £ |
**UNKNOWN DIRECTOR 1** |
Balance outstanding at start of period | 5,927 | - |
Amounts advanced | 4,210 | 5,927 |
Amounts repaid | - | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | 10,137 | 5,927 |
This loan is interest free and will be cleared upon the closure of the company. |