B' Smart Dry Cleaners Ltd 03316298 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is washing and retail dry cleaning services. Digita Accounts Production Advanced 6.30.9574.0 true false true 03316298 2023-02-01 2024-01-31 03316298 2024-01-31 03316298 bus:OrdinaryShareClass1 2024-01-31 03316298 core:CurrentFinancialInstruments 2024-01-31 03316298 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 03316298 core:Non-currentFinancialInstruments 2024-01-31 03316298 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 03316298 core:FurnitureFittingsToolsEquipment 2024-01-31 03316298 core:MotorVehicles 2024-01-31 03316298 bus:SmallEntities 2023-02-01 2024-01-31 03316298 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 03316298 bus:FilletedAccounts 2023-02-01 2024-01-31 03316298 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 03316298 bus:RegisteredOffice 2023-02-01 2024-01-31 03316298 bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 03316298 bus:Director1 2023-02-01 2024-01-31 03316298 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 03316298 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03316298 core:CommercialMotorVehicles 2023-02-01 2024-01-31 03316298 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 03316298 core:MotorVehicles 2023-02-01 2024-01-31 03316298 core:OfficeEquipment 2023-02-01 2024-01-31 03316298 1 2023-02-01 2024-01-31 03316298 countries:England 2023-02-01 2024-01-31 03316298 2023-01-31 03316298 core:FurnitureFittingsToolsEquipment 2023-01-31 03316298 core:MotorVehicles 2023-01-31 03316298 2022-02-01 2023-01-31 03316298 2023-01-31 03316298 bus:OrdinaryShareClass1 2023-01-31 03316298 core:CurrentFinancialInstruments 2023-01-31 03316298 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 03316298 core:Non-currentFinancialInstruments 2023-01-31 03316298 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 03316298 core:FurnitureFittingsToolsEquipment 2023-01-31 03316298 core:MotorVehicles 2023-01-31 03316298 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03316298

B' Smart Dry Cleaners Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2024

 

B' Smart Dry Cleaners Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

B' Smart Dry Cleaners Ltd

(Registration number: 03316298)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,828

3,145

Current assets

 

Debtors

5

1,778

2,059

Cash at bank and in hand

 

43,195

57,668

 

44,973

59,727

Creditors: Amounts falling due within one year

6

(26,168)

(25,278)

Net current assets

 

18,805

34,449

Total assets less current liabilities

 

21,633

37,594

Creditors: Amounts falling due after more than one year

6

(9,500)

(15,500)

Provisions for liabilities

(537)

(547)

Net assets

 

11,596

21,547

Capital and reserves

 

Called up share capital

100

100

Retained earnings

11,496

21,447

Shareholders' funds

 

11,596

21,547

For the financial year ending 31 January 2024 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 30 September 2024 and signed on its behalf by:
 

 

B' Smart Dry Cleaners Ltd

(Registration number: 03316298)
Balance Sheet as at 31 January 2024

.........................................
Mr Gareth Andrew Haywood
Director

.........................................
Mrs Olivia Ann Haywood
Company secretary and director

 

B' Smart Dry Cleaners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
United Kingdom

These financial statements were authorised for issue by the Board on 30 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

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

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

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

 

B' Smart Dry Cleaners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

Fixtures & fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

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.

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.

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.

 

B' Smart Dry Cleaners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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 5 (2023 - 5).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

37,054

9,990

47,044

Additions

625

-

625

At 31 January 2024

37,679

9,990

47,669

Depreciation

At 1 February 2023

33,908

9,990

43,898

Charge for the year

943

-

943

At 31 January 2024

34,851

9,990

44,841

Carrying amount

At 31 January 2024

2,828

-

2,828

At 31 January 2023

3,145

-

3,145

5

Debtors

 

B' Smart Dry Cleaners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Current

2024
£

2023
£

Trade debtors

1,778

1,882

Other debtors

-

177

 

1,778

2,059

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

18,383

11,981

Taxation and social security

 

7,161

12,511

Other creditors

 

624

786

 

26,168

25,278

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

9,500

15,500

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £145.00 (2023 - £120.00) per each Ordinary

14,500

12,000

 

 

9

Related party transactions

Dividends paid to directors

 

B' Smart Dry Cleaners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2024
£

2023
£

Mr Gareth Andrew Haywood

Ordinary dividend

7,250

6,000

 

 

Mrs Olivia Ann Haywood

Ordinary dividend

7,250

6,000

 

 

Other transactions with directors

At the company year end the company owed the directors a net of £365 (2023 : £496). There is no set repayment term or interest being charged.

10

Parent and ultimate parent undertaking

The ultimate controlling party is Gareth and Olivia Haywood as directors and shareholders acting in concert.

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

9,500

15,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,000

6,000

Bank overdrafts

12,383

5,981

18,383

11,981