Doyles Steam Cleaning Limited
Registered number: 03894521
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 25,901 15,741
Current assets
Debtors 5 74,815 59,587
Cash at bank and in hand 2 3,597
74,817 63,184
Creditors: amounts falling due within one year 6 (39,447) (23,362)
Net current assets 35,370 39,822
Total assets less current liabilities 61,271 55,563
Creditors: amounts falling due after more than one year 7 (13,844) (10,020)
Provisions for liabilities (4,921) (2,991)
Net assets 42,506 42,552
Capital and reserves
Called up share capital 42,502 42,502
Profit and loss account 4 50
Shareholders' funds 42,506 42,552
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Doyle
Director
Approved by the board on 19 August 2024
Doyles Steam Cleaning Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised when the service is performed.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 20% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 51,042
At 31 January 2024 51,042
Amortisation
At 1 February 2023 51,042
At 31 January 2024 51,042
Net book value
At 31 January 2024 -
At 31 January 2023 -
Goodwill was written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 February 2023 3,639 158,081 161,720
Additions - 22,011 22,011
Disposals (3,639) (13,995) (17,634)
At 31 January 2024 - 166,097 166,097
Depreciation
At 1 February 2023 3,639 142,340 145,979
Charge for the year - 9,360 9,360
On disposals (3,639) (11,504) (15,143)
At 31 January 2024 - 140,196 140,196
Net book value
At 31 January 2024 - 25,901 25,901
At 31 January 2023 - 15,741 15,741
During the year ended 31 January 2024, the company sold a van for a consideration of £9,200, realising a profit on disposal of £6,709.
5 Debtors 2024 2023
£ £
Trade debtors 18,798 13,712
Other debtors 56,017 45,875
74,815 59,587
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 14,196 3,975
Obligations under finance lease and hire purchase contracts 3,791 -
Trade creditors 4,118 1,484
Taxation and social security costs 17,309 16,529
Other creditors 33 1,374
39,447 23,362
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,946 10,020
Obligations under finance lease and hire purchase contracts 7,898 -
13,844 10,020
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 10,020 13,995
The company was granted a loan under the Coronavirus Business Interruption Loan scheme in 2021. The loan is guaranteed by the Department for Business, Energy and Industrial Strategy. No capital or interest was payable in the first 12 months of the loan. The loan is now repayable in instalments and interest is charged at a rate of 2.5% over the remaining term of the loan.
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 36,272 -
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
R Doyle 9,171 9,065 - 18,236
9,171 9,065 - 18,236
11 Controlling party
The ultimate controlling party is R Doyle, who owns the entire share capital of the company.
12 Other information
Doyles Steam Cleaning Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Park Place
Newdigate Road
Harefield
Middlesex
UB9 6EJ
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