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REGISTERED NUMBER: 04635040 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

MONARCH CLEANERS LTD

MONARCH CLEANERS LTD (REGISTERED NUMBER: 04635040)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MONARCH CLEANERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: G K Lloyd
M D Lloyd



SECRETARY: M C Linford



REGISTERED OFFICE: 31 - 33 Meliden Road
Prestatyn
Denbighshire
LL19 9SD



REGISTERED NUMBER: 04635040 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: Barclays Bank plc
High Street
Prestatyn
Denbighshire

MONARCH CLEANERS LTD (REGISTERED NUMBER: 04635040)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 67,925 79,907
67,925 79,907

CURRENT ASSETS
Stocks 3,500 4,500
Debtors 6 49,710 34,882
Cash at bank and in hand 33,356 23,572
86,566 62,954
CREDITORS
Amounts falling due within one year 7 103,648 68,969
NET CURRENT LIABILITIES (17,082 ) (6,015 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,843

73,892

CREDITORS
Amounts falling due after more than one
year

8

(28,441

)

(63,758

)

PROVISIONS FOR LIABILITIES 10 (11,677 ) (9,300 )
NET ASSETS 10,725 834

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 10,625 734
SHAREHOLDERS' FUNDS 10,725 834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MONARCH CLEANERS LTD (REGISTERED NUMBER: 04635040)

BALANCE SHEET - continued
31ST MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3rd October 2024 and were signed on its behalf by:





G K Lloyd - Director


MONARCH CLEANERS LTD (REGISTERED NUMBER: 04635040)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Monarch Cleaners Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

MONARCH CLEANERS LTD (REGISTERED NUMBER: 04635040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 50,000
AMORTISATION
At 1st April 2023
and 31st March 2024 50,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

MONARCH CLEANERS LTD (REGISTERED NUMBER: 04635040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Leasehold and
property Plant and office Motor
improvement machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1st April 2023 12,623 216,006 69,441 26,995 325,065
Additions - - 1,954 - 1,954
At 31st March 2024 12,623 216,006 71,395 26,995 327,019
DEPRECIATION
At 1st April 2023 6,472 172,737 63,137 2,812 245,158
Charge for year 308 6,490 1,092 6,046 13,936
At 31st March 2024 6,780 179,227 64,229 8,858 259,094
NET BOOK VALUE
At 31st March 2024 5,843 36,779 7,166 18,137 67,925
At 31st March 2023 6,151 43,269 6,304 24,183 79,907

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st April 2023
and 31st March 2024 26,995
DEPRECIATION
At 1st April 2023 2,812
Charge for year 6,046
At 31st March 2024 8,858
NET BOOK VALUE
At 31st March 2024 18,137
At 31st March 2023 24,183

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 40,778 33,335
Other debtors 597 -
Tax - 1,547
Prepayments 8,335 -
49,710 34,882

MONARCH CLEANERS LTD (REGISTERED NUMBER: 04635040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 14,662 19,250
Hire purchase contracts 4,388 4,388
Trade creditors 7,564 11,120
Tax 15 -
Social security and other taxes 6,701 2,852
VAT 17,111 12,541
Directors' current accounts 48,804 15,968
Accrued expenses 4,403 2,850
103,648 68,969

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 14,662 19,250
Bank loans - 2-5 years 2,444 28,785
Hire purchase contracts 11,335 15,723
28,441 63,758

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 31,768 67,285
Hire purchase contracts 15,723 20,111
47,491 87,396

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 11,796 14,014
Tax losses carried forward (119 ) (4,714 )
11,677 9,300

Deferred
tax
£   
Balance at 1st April 2023 9,300
Movement in the year due to:
change in tax allowances (2,218 )
changes in tax losses 4,595
changes in tax rates
Balance at 31st March 2024 11,677

MONARCH CLEANERS LTD (REGISTERED NUMBER: 04635040)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £100 100 100

12. CAPITAL COMMITMENTS
31.3.24 31.3.23
£    £   
Contracted but not provided for in the
financial statements - -

13. ULTIMATE CONTROLLING PARTY

The controlling party is G K Lloyd.