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Registration number: 08335507

Champion Cleaning Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Champion Cleaning Services Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Champion Cleaning Services Limited

Company Information

Directors

Ms Leah Louise Tomprefa

Mr Paul Rynberk

Registered office

133-137 Chorley Old Road
Bolton
BL1 3BD

Accountants

Bright Partnership Limited
Unit 26 Edward Court
Altrincham Business Park
Altrincham
WA14 5GL

 

Champion Cleaning Services Limited

(Registration number: 08335507)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

216,381

196,609

Current assets

 

Stocks

397,918

244,376

Debtors

6

529,905

437,337

Cash at bank and in hand

 

576,733

389,661

 

1,504,556

1,071,374

Creditors: Amounts falling due within one year

7

(569,152)

(564,388)

Net current assets

 

935,404

506,986

Total assets less current liabilities

 

1,151,785

703,595

Creditors: Amounts falling due after more than one year

7

(13,550)

(23,304)

Provisions for liabilities

(24,927)

(27,683)

Net assets

 

1,113,308

652,608

Capital and reserves

 

Called up share capital

8

4

3

Retained earnings

1,113,304

652,605

Shareholders' funds

 

1,113,308

652,608

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 September 2024 and signed on its behalf by:
 

 

Champion Cleaning Services Limited

(Registration number: 08335507)
Statement of Financial Position as at 31 December 2023

.........................................
Mr Paul Rynberk
Director

 

Champion Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
133-137 Chorley Old Road
Bolton
BL1 3BD

These financial statements were authorised for issue by the Board on 26 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Champion Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Judgements

Preparation of the financial statements requires managements to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

A. Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

B. Impairment of debtors

The company makes an estimate of the recoverability value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, ageing profile and historical experience.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Champion Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Champion Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2022 - 7).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

52,707

48,891

 

Champion Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

134,377

233,609

367,986

Additions

17,996

54,911

72,907

Disposals

(440)

-

(440)

At 31 December 2023

151,933

288,520

440,453

Depreciation

At 1 January 2023

57,950

113,427

171,377

Charge for the year

15,241

37,466

52,707

Eliminated on disposal

(12)

-

(12)

At 31 December 2023

73,179

150,893

224,072

Carrying amount

At 31 December 2023

78,754

137,627

216,381

At 31 December 2022

76,427

120,182

196,609

6

Debtors

Current

2023
£

2022
£

Trade debtors

527,597

437,337

Prepayments

2,307

-

Other debtors

1

-

 

529,905

437,337

7

Creditors

Creditors: amounts falling due within one year

 

Champion Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10,616

10,863

Trade creditors

 

307,333

406,994

Taxation and social security

 

194,573

103,202

Accruals and deferred income

 

3,941

3,700

Other creditors

 

52,689

39,629

 

569,152

564,388

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

13,550

23,304

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

4

4

3

3