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REGISTERED NUMBER: 07325546 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Smartway Dry Cleaners Limited

Smartway Dry Cleaners Limited (Registered number: 07325546)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Smartway Dry Cleaners Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: S Fletcher
Mrs J Fletcher





REGISTERED OFFICE: The Old Stables
Marsh Lane
Cuerdley
Warrington
Cheshire
WA5 2UN





REGISTERED NUMBER: 07325546 (England and Wales)





ACCOUNTANTS: Jennions Macken Ltd
Suite 1, Foundry House
Waterside Lane
Widnes
Cheshire
WA8 8GT

Smartway Dry Cleaners Limited (Registered number: 07325546)

Abridged Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,088 14,326

CURRENT ASSETS
Stocks 1,300 1,300
Debtors 13,673 10,051
14,973 11,351
CREDITORS
Amounts falling due within one year 40,750 51,434
NET CURRENT LIABILITIES (25,777 ) (40,083 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(15,689

)

(25,757

)

CAPITAL AND RESERVES
Called up share capital 5 100 100
Retained earnings (15,789 ) (25,857 )
SHAREHOLDERS' FUNDS (15,689 ) (25,757 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Smartway Dry Cleaners Limited (Registered number: 07325546)

Abridged Balance Sheet - continued
31 July 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 11 September 2024 and were signed on its behalf by:





S Fletcher - Director


Smartway Dry Cleaners Limited (Registered number: 07325546)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Smartway Dry Cleaners 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.
Long leasehold - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Smartway Dry Cleaners Limited (Registered number: 07325546)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
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 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023
and 31 July 2024 110,748
DEPRECIATION
At 1 August 2023 96,422
Charge for year 4,238
At 31 July 2024 100,660
NET BOOK VALUE
At 31 July 2024 10,088
At 31 July 2023 14,326

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100

Smartway Dry Cleaners Limited (Registered number: 07325546)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
S Fletcher and Mrs J Fletcher
Balance outstanding at start of year 10,051 10,783
Amounts advanced 3,622 -
Amounts repaid - (732 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,673 10,051