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REGISTERED NUMBER: NI071886 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

KM CLEANERS LTD

KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Report of the Accountants 7

KM CLEANERS LTD

COMPANY INFORMATION
for the Year Ended 29 FEBRUARY 2024







DIRECTORS: Mr T McKeon
Mrs E Leyden



SECRETARY: Mrs E Leyden



REGISTERED OFFICE: KM Cleaners Limited
19c Queen Street
Enniskillen
Co. Fermanagh
BT74 7HR



REGISTERED NUMBER: NI071886 (Northern Ireland)



ACCOUNTANTS: Patton Rainey Stenson Limited
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT



BANKERS: Allied Irish Bank
2 & 4 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT

KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 22,884 28,605
22,884 28,605

CURRENT ASSETS
Stocks 6 2,591 3,168
Debtors 7 2,758 1,312
Cash at bank and in hand 18,196 45,699
23,545 50,179
CREDITORS
Amounts falling due within one year 8 32,141 41,197
NET CURRENT (LIABILITIES)/ASSETS (8,596 ) 8,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,288

37,587

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 14,286 37,585
SHAREHOLDERS' FUNDS 14,288 37,587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





Mr T McKeon - Director


KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 FEBRUARY 2024


1. STATUTORY INFORMATION

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

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, is being amortised evenly over its estimated useful life of 5 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.
Plant and machinery - 20% 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 Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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 17 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 19,480
AMORTISATION
At 1 March 2023
and 29 February 2024 19,480
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 March 2023
and 29 February 2024 187,681
DEPRECIATION
At 1 March 2023 159,076
Charge for year 5,721
At 29 February 2024 164,797
NET BOOK VALUE
At 29 February 2024 22,884
At 28 February 2023 28,605

KM CLEANERS LTD (REGISTERED NUMBER: NI071886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 FEBRUARY 2024


6. STOCKS
29.2.24 28.2.23
£    £   
Stocks 2,591 3,168

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 2,756 880
Other debtors 2 2
Prepayments and accrued income - 430
2,758 1,312

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 11,031 11,771
Owed to connected party 14,956 13,878
Tax - 510
VAT 2,649 1,535
Other creditors 65 63
Directors' current accounts 3,440 13,440
32,141 41,197

9. RELATED PARTY DISCLOSURES

KM Laundry Ltd

KM Cleaners Ltd and KM Laundry Ltd are under common control by way of ownership of shares.

KM Laundry Ltd is partially financed by way of in inter company loan from KM Cleaners Ltd. This loan amounted to £14,956 at the 29th February 2024 and is repayable on demand.

10. GOING CONCERN

At 29 February 2024 the company's liabilities exceeded its assets by £8,596. The company is dependant on the continuing support of its directors in order to meet its commitments as they fall due. The directors have plans in place to ensure that the company deals with the outstanding liabilities in the near future.

On the basis that the directors are continuing to support the company, the directors believe it can continue as a going concern.

KM CLEANERS LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
KM CLEANERS LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 29 February 2024 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Patton Rainey Stenson Limited
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT


10 October 2024