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INTOCLEANING LIMITED

Registered Number
04956208
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

INTOCLEANING LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

PAYNE, Simon John

Registered Address

Unit 1h Longhope Business Park
Monmouth Road
Longhope
GL17 0QG

Registered Number

04956208 (England and Wales)
INTOCLEANING LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets450,7379,961
50,7379,961
Current assets
Debtors177,870182,830
Cash at bank and on hand61,80750,704
239,677233,534
Creditors amounts falling due within one year5(72,322)(82,478)
Net current assets (liabilities)167,355151,056
Total assets less current liabilities218,092161,017
Creditors amounts falling due after one year6(64,488)(38,573)
Provisions for liabilities8(9,419)(1,542)
Net assets144,185120,902
Capital and reserves
Called up share capital1010
Profit and loss account144,175120,892
Shareholders' funds144,185120,902
The financial statements were approved and authorised for issue by the Director on 28 August 2024, and are signed on its behalf by:
PAYNE, Simon John
Director
Registered Company No. 04956208
INTOCLEANING LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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.
Intangible assets
Goodwill is stated at cost less depreciation. Depreciation is provided over 10 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Vehicles5
Office Equipment5
2.Average number of employees

20232022
Average number of employees during the year6568
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 2260,00060,000
At 30 November 2360,00060,000
Amortisation and impairment
At 01 December 2260,00060,000
At 30 November 2360,00060,000
Net book value
At 30 November 23--
At 30 November 22--
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 December 2210,11731,5255,00027,70974,351
Additions32045,679-87446,873
Disposals-(26,775)--(26,775)
At 30 November 2310,43750,4295,00028,58394,449
Depreciation and impairment
At 01 December 227,65930,80270825,22164,390
Charge for year5644,0544591,0206,097
On disposals-(26,775)--(26,775)
At 30 November 238,2238,0811,16726,24143,712
Net book value
At 30 November 232,21442,3483,8332,34250,737
At 30 November 222,4587234,2922,4889,961
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables3,1822,875
Taxation and social security29,43036,604
Other creditors20,80413,803
Accrued liabilities and deferred income18,90629,196
Total72,32282,478
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.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts37,00138,573
Other creditors27,487-
Total64,48838,573
7.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts27,487-
The company entered into a finance lease for a vehicle. The outstanding balance due within one year is £5,755 (2022 Nil). The balance due within 3 years is £21,732. On settlement of the final payment, ownership of the vehicle passes to the company.
8.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)9,4191,542
Total9,4191,542
9.Related party transactions
During the year the company provided management services to Simple Hygiene Solutions Ltd, a business in which Simon Payne is a director and 90% shareholder of, amounting to £11,250 (2022 £15,000). The balance outstanding from Simple Hygiene Solutions Ltd, included in other debtors at the year end is £48,649 (2022 £42,479). IntoMaintenance is a sole trade business run by Simon Payne which loaned £9,308 (2022 £16,000) to the company during the year. The balance owed to IntoMaintenance at year end was £15,534 (2022 £9,664). No interest has been charged on this loan and is repayable on demand.