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Registration number: 02526388

Monitor Cleaning Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Monitor Cleaning Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Monitor Cleaning Services Ltd

Company Information

Chairman

Mr Angus Henry

Chief executive

Mr Angus Henry

Director

Mr Clive Pyzer

Company secretary

Mr Clive Pyzer

Registered office

24 The Hill
Northfleet
Kent
DA11 9EU

Accountants

Alexander Broad Lowe
Chartered Certified Accountants
3 Masons Field
Mannings Heath
Horsham
Sussex
RH13 6JP

 

Monitor Cleaning Services Ltd

(Registration number: 02526388)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

41,103

30,120

Current assets

 

Stocks

5

13,840

14,271

Debtors

6

1,961,025

1,897,494

Cash at bank and in hand

 

61,600

40,591

 

2,036,465

1,952,356

Creditors: Amounts falling due within one year

7

(1,346,403)

(1,373,592)

Net current assets

 

690,062

578,764

Total assets less current liabilities

 

731,165

608,884

Creditors: Amounts falling due after more than one year

7

(1,466)

(97,581)

Provisions for liabilities

(9,193)

(5,723)

Net assets

 

720,506

505,580

Capital and reserves

 

Called up share capital

8

4

4

Retained earnings

720,502

505,576

Shareholders' funds

 

720,506

505,580

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 June 2024
 

 

Monitor Cleaning Services Ltd

(Registration number: 02526388)
Balance Sheet as at 31 December 2023

.........................................
Mr Angus Henry
Chairman and chief executive

 

Monitor Cleaning Services Ltd

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 England and Wales.

The address of its registered office is:
24 The Hill
Northfleet
Kent
DA11 9EU
England

These financial statements were authorised for issue by the director on 27 June 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

Going concern

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

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.

Government grants

Grants are accounted for under the accruals model as permitted by FRS102. Grants of a revenue nature are recognised in the Profit and Loss Account and retained earnings in the same period as the related expenditure.

 

Monitor Cleaning Services Ltd

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

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 balance sheet 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:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% Reducing balance

Motor Vehicles

25% 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.

 

Monitor Cleaning Services Ltd

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Monitor Cleaning Services Ltd

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 177 (2022 - 147).

 

Monitor Cleaning Services Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

20,109

18,998

39,107

Additions

17,295

-

17,295

At 31 December 2023

37,404

18,998

56,402

Depreciation

At 1 January 2023

2,160

6,827

8,987

Charge for the year

3,878

2,434

6,312

At 31 December 2023

6,038

9,261

15,299

Carrying amount

At 31 December 2023

31,366

9,737

41,103

At 31 December 2022

17,949

12,171

30,120

5

Stocks

2023
£

2022
£

Other inventories

13,840

14,271

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

960,459

1,025,884

Amounts owed by related parties

871,738

794,590

Prepayments

 

55,273

70,156

Other debtors

 

73,555

6,864

   

1,961,025

1,897,494

 

Monitor Cleaning Services Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

242,851

450,253

Trade creditors

 

193,253

161,004

Amounts owed to group undertakings and undertakings in which the company has a participating interest

364,349

346,255

Taxation and social security

 

300,756

198,607

Accruals and deferred income

 

216,947

184,667

Other creditors

 

28,247

32,806

 

1,346,403

1,373,592

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

1,466

97,581

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

4

4

4

4

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

1,466

6,635

Other borrowings

-

90,946

1,466

97,581

 

Monitor Cleaning Services Ltd

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

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

5,169

4,869

Other borrowings

237,682

445,384

242,851

450,253

10

Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

5,169

4,869

Later than one year and not later than five years

1,466

6,635

6,635

11,504

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

30,823

15,411

Later than one year and not later than five years

13,204

8,002

44,027

23,413

The amount of non-cancellable operating lease payments recognised as an expense during the year was £38,825 (2022 - £48,562).

11

Parent and ultimate parent undertaking

The company's immediate parent is Monitor Services Ltd, incorporated in England and Wales.

 The ultimate parent is Heyzer Ltd, incorporated in England and Wales.