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REGISTERED NUMBER: 07057168 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

VEEROY LAUNDRY SOLUTIONS LIMITED

VEEROY LAUNDRY SOLUTIONS LIMITED (REGISTERED NUMBER: 07057168)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

VEEROY LAUNDRY SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2022







DIRECTOR: M B Haswell





SECRETARY: Mrs S E Haswell





REGISTERED OFFICE: Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH





REGISTERED NUMBER: 07057168 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH

VEEROY LAUNDRY SOLUTIONS LIMITED (REGISTERED NUMBER: 07057168)

BALANCE SHEET
31 OCTOBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 56,875
Tangible assets 5 45,290 52,970
45,290 109,845

CURRENT ASSETS
Stocks 102,500 80,446
Debtors 6 252,598 330,018
Cash at bank 23,666 78,921
378,764 489,385
CREDITORS
Amounts falling due within one year 7 556,102 502,467
NET CURRENT LIABILITIES (177,338 ) (13,082 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(132,048

)

96,763

CREDITORS
Amounts falling due after more than one year 8 127,498 137,927
NET LIABILITIES (259,546 ) (41,164 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (259,646 ) (41,264 )
SHAREHOLDERS' FUNDS (259,546 ) (41,164 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

VEEROY LAUNDRY SOLUTIONS LIMITED (REGISTERED NUMBER: 07057168)

BALANCE SHEET - continued
31 OCTOBER 2022


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 Profit & Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 October 2024 and were signed by:





M B Haswell - Director


VEEROY LAUNDRY SOLUTIONS LIMITED (REGISTERED NUMBER: 07057168)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022


1. STATUTORY INFORMATION

Veeroy Laundry Solutions Limited 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with business acquisitions , is being written off 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.
Short leasehold - Straight line over 10 years
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.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors and loans from banks.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss account, 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.

Going concern
These accounts have been prepared on the going concern basis, as the company is expected to continue to be supported by the director.

VEEROY LAUNDRY SOLUTIONS LIMITED (REGISTERED NUMBER: 07057168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2021 110,000
Impairments (110,000 )
At 31 October 2022 -
AMORTISATION
At 1 November 2021 53,125
Impairments (53,125 )
At 31 October 2022 -
NET BOOK VALUE
At 31 October 2022 -
At 31 October 2021 56,875

5. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2021 63,454 112,783 16,799 - 193,036
Additions - 1,560 - 1,040 2,600
At 31 October 2022 63,454 114,343 16,799 1,040 195,636
DEPRECIATION
At 1 November 2021 52,626 76,860 10,580 - 140,066
Charge for year 2,874 5,505 1,554 347 10,280
At 31 October 2022 55,500 82,365 12,134 347 150,346
NET BOOK VALUE
At 31 October 2022 7,954 31,978 4,665 693 45,290
At 31 October 2021 10,828 35,923 6,219 - 52,970

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Accrued income 218,905 286,200
Prepayments 33,693 43,818
252,598 330,018

VEEROY LAUNDRY SOLUTIONS LIMITED (REGISTERED NUMBER: 07057168)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 9,570
Trade creditors 2,210 8,727
Social security and other taxes 31,734 20,951
VAT 89,314 66,453
Other creditors 187 71
Other Creditors 3,527 -
Directors' current accounts 280,299 300,299
Accrued expenses 138,831 96,396
556,102 502,467

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 1-2 years 10,000 9,812
Bank loans - 2-5 years 17,498 28,115
Directors' loan accounts 100,000 100,000
127,498 137,927

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
VEEROY LAUNDRY SOLUTIONS LIMITED


The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Veeroy Laundry Solutions Limited for the year ended 31 October 2022 which comprise the Profit & Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Veeroy Laundry Solutions Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Veeroy Laundry Solutions Limited and state those matters that we have agreed to state to the director of Veeroy Laundry Solutions Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Veeroy Laundry Solutions Limited and its director for our work or for this report.

It is your duty to ensure that Veeroy Laundry Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Veeroy Laundry Solutions Limited. You consider that Veeroy Laundry Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Veeroy Laundry Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


16 October 2024