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Express Ironing & Cleaning Services Ltd
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 10578523
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,254 12,724
9,254 12,724
CURRENT ASSETS
Debtors 5 20,733 15,117
Cash at bank and in hand 3,546 4,562
24,279 19,679
Creditors: Amounts Falling Due Within One Year 6 (115,283 ) (120,847 )
NET CURRENT ASSETS (LIABILITIES) (91,004 ) (101,168 )
TOTAL ASSETS LESS CURRENT LIABILITIES (81,750 ) (88,444 )
NET LIABILITIES (81,750 ) (88,444 )
CAPITAL AND RESERVES
Called up share capital 7 200 200
Profit and Loss Account (81,950 ) (88,644 )
SHAREHOLDERS' FUNDS (81,750) (88,444)
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Teresa Jackson
Director
21 October 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 February 2022 200 (89,595 ) (89,395)
Profit for the year and total comprehensive income - 951 951
As at 31 January 2023 and 1 February 2023 200 (88,644 ) (88,444)
Profit for the year and total comprehensive income - 6,694 6,694
As at 31 January 2024 200 (81,950 ) (81,750)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Express Ironing & Cleaning Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10578523 . The registered office is Studio, 31 Swadlincote Road, Swadlincote, Derbyshire, DE11 8DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight line
Motor Vehicles 25% Straight line
Computer Equipment 25% Straight line
2.4. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 8)
3 8
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 12,416 17,300 280 29,996
Additions 417 - - 417
As at 31 January 2024 12,833 17,300 280 30,413
Depreciation
As at 1 February 2023 11,223 5,769 280 17,272
Provided during the period 512 3,375 - 3,887
As at 31 January 2024 11,735 9,144 280 21,159
Net Book Value
As at 31 January 2024 1,098 8,156 - 9,254
As at 1 February 2023 1,193 11,531 - 12,724
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,064 11,334
Other debtors (2,339 ) -
VAT - 96
Other taxes and social security 10,008 3,687
20,733 15,117
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) 924
Bank loans and overdrafts 12,563 12,630
Bounce back loan 12,629 14,446
Net wages - 5,560
Intercompany account 52,863 22,789
Pension control 33 1,135
Accruals and deferred income 925 925
Directors' loan accounts 36,271 62,438
115,283 120,847
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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