REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
1CALL PROPERTY MAINTENANCE LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
1CALL PROPERTY MAINTENANCE LIMITED |
1CALL PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC275690) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Certified Accountants' Report | 8 |
1CALL PROPERTY MAINTENANCE LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 December 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Unit 1, Office 1 & 8 |
Blackhall Industrial Estate |
Burghmuir Circle |
Inverurie |
Aberdeenshire |
AB51 4FS |
1CALL PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC275690) |
BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 770,303 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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 Profit & Loss has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
1CALL PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC275690) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
1Call Property Maintenance Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts receivable for goods and services net of VAT and trade discounts for services provided including amounts recognised on construction and maintenance contracts. |
Turnover recognised on construction and maintenance contracts where the outcome can be estimated reliably. Variations to, and claims arising in respect of, construction and maintenance contracts are included in revenue to the extent that they have been agreed with the customer. Turnover and costs are recognised by reference to the stage of completion of contract activity at the balance sheet date. Contract completion is measured by an estimate of the percentage completion of work performed to date. |
Amounts recoverable on construction and maintenance contracts are included in trade receivables and stated at cost plus attributable profit less any foreseeable losses. The costs on contracts not yet taken to the profit and loss account less related foreseeable losses and payments on account are shown in stocks and work in progress. Payments received in excess of amounts recoverable on contracts, if any, are included in payments on account within creditors. |
Amounts withheld by contract customers in the form of retentions have historically been recognised to profit and loss only once the retention amount has been invoiced post completion of work plus the agreed retention period. For the current year onwards, including restated comparative, withheld amounts are recognised to profit and loss upon completion of the works and included in debtors to be released once the retention period has passed and once the retained funds have been received. |
Goodwill |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. |
Stocks and work in progress |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Stocks are measured on a first-in, first-out method and costs include all purchase, transport and handling costs in bringing stock to their present location and condition. |
Work in Progress is measured at the estimated realisable value of contract and maintenance work ongoing at year end after making due provision for non-recoverable amounts, if any. |
1CALL PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC275690) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
Basic financial assets |
Basic financial assets which include trade & other debtors, cash and bank balances are measured at transaction price including transaction costs. |
Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers significant risk and reward of ownership to another entity. |
Basic financial liabilities |
Basic financial liabilities which include trade and other creditors are recognised at transaction price including transaction cost. |
Financial liabilities are derecognised when the company's contractual obligations are discharged. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss, 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. |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
1CALL PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC275690) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
Amortisation for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
7. | STOCKS |
2023 | 2022 |
as restated |
£ | £ |
Stocks |
Work-in-progress |
1CALL PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC275690) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Trade debtors |
Other debtors |
Tax |
Prepayments |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 104,471 | 115,446 |
Other creditors |
Directors' current accounts | 2,386 | 1,638 |
Accrued expenses |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
as restated |
£ | £ |
Within one year |
Between one and five years |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
as restated |
£ | £ |
Invoice financing facility | - | 846 |
The company has granted a floating charge over all current and future property and undertakings of the business in favour of The Royal Bank of Scotland Commercial Services Limited in respect of the invoice financing facility. |
The company has granted a bond and floating charge over all current and future property and undertakings of the business in favour of The Royal Bank of Scotland PLC. |
1CALL PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC275690) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2023 |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022: |
2023 | 2022 |
as restated |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
The above loan is interest free and has no set repayment terms. |
13. | RELATED PARTY DISCLOSURES |
R&A House, the trading address of the company, is owned by a self-administered pension scheme, of which the director is a trustee. During the year rent of £19,250 (2022: £12,833) was charged to the company by the pension scheme. |
14. | PRIOR YEAR ADJUSTMENTS |
Prior year adjustments have been made to record previously omitted transactions and correct erroneous transactions in the comparative period. |
Total omitted trade creditors and other creditors and accruals of £224,612 have been recorded. |
Total overstated trade and other debtors of £8,587 have been removed. |
Transactions omitted from cash at bank of £44,912 have been now been included to reconcile cash at bank at 31 December 2022. |
Omitted fixed asset additions of £2,935 have been recorded and an associated increase to the depreciation charge of £84 has been included. |
As a result of the adjustments noted above, a reduction to Corporation tax charge for the year to 31 December 2022 of £23,507 has been recorded. |
In addition to items affecting profit and loss, several reclassifications have been made on the balance sheet namely to move assets under hire purchase to assets wholly owned as the hire purchase liabilities had been fully repaid previously. Expenses totalling £137,793 have been reclassified from various profit and loss headings to 'Exceptional item's relating to employee misappropriation of funds identified. |
The net total to profit and loss of all adjustments processed in the comparative year was £162,153 reduction to profit. |
15. | EXCEPTIONAL ITEMS |
2023 | 2022 |
as restated |
£ | £ |
Exceptional items | (275,517) | (137,793) |
Exceptional items in the current and comparative years comprise losses suffered from misappropriation of funds by a former staff member. These losses have been investigated and recognised in full to profit and loss, any amounts recovered in future periods will be credited to profit and loss. |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
1CALL PROPERTY MAINTENANCE LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 1Call Property Maintenance Limited for the year ended 31 December 2023 which comprise the Profit & Loss, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
This report is made solely to the director of 1Call Property Maintenance Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 1Call Property Maintenance Limited and state those matters that we have agreed to state to the director of 1Call Property Maintenance Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
It is your duty to ensure that 1Call Property Maintenance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of 1Call Property Maintenance Limited. You consider that 1Call Property Maintenance Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of 1Call Property Maintenance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Unit 1, Office 1 & 8 |
Blackhall Industrial Estate |
Burghmuir Circle |
Inverurie |
Aberdeenshire |
AB51 4FS |