Registered number
06563465
Spotless Midlands Ltd
Filleted Accounts
31 March 2024
Spotless Midlands Ltd
Registered number: 06563465
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 55,847 72,843
Current assets
Stocks 2,000 2,000
Debtors 4 345,105 282,085
Cash at bank and in hand 77,120 61,888
424,225 345,973
Creditors: amounts falling due within one year 5 (276,747) (211,063)
Net current assets 147,478 134,910
Total assets less current liabilities 203,325 207,753
Creditors: amounts falling due after more than one year 6 (57,058) (81,452)
Provisions for liabilities (10,612) (13,841)
Net assets 135,655 112,460
Capital and reserves
Called up share capital 20 20
Profit and loss account 135,635 112,440
Shareholders' funds 135,655 112,460
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.
Mr P Hill
Director
Approved by the board on 8 July 2024
Spotless Midlands Ltd
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:
Motor vehicles 25% RBM
Plant and machinery 25% RBM
Fixtures, fittings, tools and equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 242 132
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 31,422 95,667 127,089
Additions 3,029 - 3,029
At 31 March 2024 34,451 95,667 130,118
Depreciation
At 1 April 2023 25,266 28,980 54,246
Charge for the year 3,353 16,672 20,025
At 31 March 2024 28,619 45,652 74,271
Net book value
At 31 March 2024 5,832 50,015 55,847
At 31 March 2023 6,156 66,687 72,843
4 Debtors 2024 2023
£ £
Trade debtors 311,738 60,914
Other debtors 33,367 221,171
345,105 282,085
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 15,000 15,000
Obligations under finance lease and hire purchase contracts 9,393 9,393
Trade creditors 21,874 20,039
Taxation and social security costs 226,051 140,235
Other creditors 4,429 26,396
276,747 211,063
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 17,500 32,500
Obligations under finance lease and hire purchase contracts 39,558 48,952
57,058 81,452
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr P Hill
Directors Loan Account 11,142 37,381 (33,916) 14,607
Mrs L Hill
Directors Loan Account 11,142 37,381 (33,916) 14,607
22,284 74,762 (67,832) 29,214
8 Controlling party
The company is controlled by the company directors, Mr P Hill and Mrs L Hill, by virtue of their shareholding.
9 Other information
Spotless Midlands Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Spotless Cleaning
Glensyl Way
Burton on Trent
Staffordshire
DE14 1LX
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