Registered number
06546308
Richmond Laundries Limited
Filleted Accounts
31 March 2024
Richmond Laundries Limited
Registered number: 06546308
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 222,992 267,233
Current assets
Stocks 44,250 41,291
Debtors 5 287,179 282,802
Cash at bank and in hand 17,784 30,540
349,213 354,633
Creditors: amounts falling due within one year 6 (703,153) (669,103)
Net current liabilities (353,940) (314,470)
Total assets less current liabilities (130,948) (47,237)
Creditors: amounts falling due after more than one year 7 (158,408) (205,491)
Net liabilities (289,356) (252,728)
Capital and reserves
Called up share capital 100 2
Profit and loss account (289,456) (252,730)
Shareholders' funds (289,356) (252,728)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Yasin Ismail Patel
Director
Approved by the board on 30 September 2024
Richmond Laundries Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Leasehold improvements 10% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 31 30
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 108,727
At 31 March 2024 108,727
Amortisation
At 1 April 2023 108,727
At 31 March 2024 108,727
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 84,026 727,808 18,172 830,006
Additions - 10,563 - 10,563
Disposals - - (18,172) (18,172)
At 31 March 2024 84,026 738,371 - 822,397
Depreciation
At 1 April 2023 26,979 523,372 12,422 562,773
Charge for the year 16,804 32,250 - 49,054
On disposals - - (12,422) (12,422)
At 31 March 2024 43,783 555,622 - 599,405
Net book value
At 31 March 2024 40,243 182,749 - 222,992
At 31 March 2023 57,047 204,436 5,750 267,233
5 Debtors 2024 2023
£ £
Trade debtors 235,595 232,535
Other debtors 51,584 50,267
287,179 282,802
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 46,654 47,913
Trade creditors 218,205 160,062
Taxation and social security costs 69,548 71,633
Directors loan account 350,550 346,823
Other creditors 18,196 42,672
703,153 669,103
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,739 73,328
Obligations under finance lease and hire purchase contracts 1,669 2,163
Sundry loans 130,000 130,000
158,408 205,491
8 Other information
Richmond Laundries Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bank Chambers
1-3 Woodford Avenue
Gants Hill, Ilford
Essex
IG2 6UF
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