Company registration number 04565024 (England and Wales)
REGAL CLEANING & MAINTENANCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
REGAL CLEANING & MAINTENANCE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
REGAL CLEANING & MAINTENANCE LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
30 April 2024
31 October 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
8,728
Current assets
Debtors
5
8,979
31,502
Cash at bank and in hand
55,417
71,094
64,396
102,596
Creditors: amounts falling due within one year
6
(7,520)
(18,836)
Net current assets
56,876
83,760
Total assets less current liabilities
56,876
92,488
Creditors: amounts falling due after more than one year
7
(5,762)
Provisions for liabilities
(1,712)
Net assets
56,876
85,014
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
56,776
84,914
Total equity
56,876
85,014
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
REGAL CLEANING & MAINTENANCE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
Mrs I Price
Director
Company Registration No. 04565024
REGAL CLEANING & MAINTENANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Regal Cleaning & Maintenance Limited is a private company limited by shares incorporated in England and Wales. The registered office is Alpha House, 4 Greek St, Stockport, Cheshire, United Kingdom, SK3 8AB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
The accounting period has been extended due to the closure of the business on 30 April 2024. The accounting period has been extended from 31 October 2023 to 30 April 2024. As such, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
20% on Cost
Plant and machinery
25% on Cost
Fixtures, fittings & equipment
33% on Reducing Balance
Computer equipment
33% on Cost
Motor vehicles
25% on Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
REGAL CLEANING & MAINTENANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
2022
Number
Number
Total
2
2
REGAL CLEANING & MAINTENANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2022
15,000
Disposals
(15,000)
At 30 April 2024
Amortisation and impairment
At 1 November 2022
15,000
Disposals
(15,000)
At 30 April 2024
Carrying amount
At 30 April 2024
At 31 October 2022
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2022
500
59,387
59,887
Disposals
(500)
(59,387)
(59,887)
At 30 April 2024
Depreciation and impairment
At 1 November 2022
500
50,659
51,159
Depreciation charged in the Period
3,082
3,082
Eliminated in respect of disposals
(500)
(53,741)
(54,241)
At 30 April 2024
Carrying amount
At 30 April 2024
At 31 October 2022
8,728
8,728
REGAL CLEANING & MAINTENANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 6 -
5
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
6,055
13,342
Corporation tax recoverable
2,004
Other debtors
920
18,160
8,979
31,502
6
Creditors: amounts falling due within one year
2024
2022
£
£
Trade creditors
209
2,497
Corporation tax
2,365
4,704
Other taxation and social security
201
2,801
Other creditors
4,745
8,834
7,520
18,836
7
Creditors: amounts falling due after more than one year
2024
2022
£
£
Other creditors
5,762