Company registration number 02795643 (England and Wales)
CITY CENTRAL CLEANING & SUPPORT SERVICES LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
CITY CENTRAL CLEANING & SUPPORT SERVICES LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 8
CITY CENTRAL CLEANING & SUPPORT SERVICES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -
The directors present their annual report and financial statements for the year ended 31 March 2024.
Principal activities
The principal activity of the company continued to be the provision of cleaning services and supplies.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
L M Nelson
J C Nelson
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
L M Nelson
Director
25 September 2024
CITY CENTRAL CLEANING & SUPPORT SERVICES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
202,371
108,059
Investments
5
26,387
12,679
228,758
120,738
Current assets
Stocks
8,188
7,987
Debtors
6
198,859
118,289
Cash at bank and in hand
518,903
655,662
725,950
781,938
Creditors: amounts falling due within one year
7
(291,099)
(311,899)
Net current assets
434,851
470,039
Total assets less current liabilities
663,609
590,777
Creditors: amounts falling due after more than one year
8
(105,472)
(19,722)
Provisions for liabilities
(21,177)
(23,785)
Net assets
536,960
547,270
Capital and reserves
Called up share capital
10,000
10,000
Revaluation reserve
13,708
Profit and loss reserves
513,252
537,270
Total equity
536,960
547,270
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
CITY CENTRAL CLEANING & SUPPORT SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 25 September 2024 and are signed on its behalf by:
L M Nelson
Director
Company Registration No. 02795643
CITY CENTRAL CLEANING & SUPPORT SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2022
10,000
629,009
639,009
Year ended 31 March 2023:
Loss and total comprehensive income
-
-
(7,739)
(7,739)
Dividends
-
-
(84,000)
(84,000)
Balance at 31 March 2023
10,000
537,270
547,270
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
54,982
54,982
Dividends
-
-
(79,000)
(79,000)
Other movements
-
13,708
-
13,708
Balance at 31 March 2024
10,000
13,708
513,252
536,960
CITY CENTRAL CLEANING & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
1
Accounting policies
Company information
City Central Cleaning & Support Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Where a service is incomplete at the year end, turnover represents the sales value of services provided based on an appropriate proportion spent. Any partially completed services that are un-billed at year end are recorded in accrued income within trade debtors.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on residual value
Fixtures, fittings & equipment
25% on residual value
Motor vehicles
25% on residual value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
The fixed asset investments have been recognised at cost.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
CITY CENTRAL CLEANING & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
CITY CENTRAL CLEANING & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 150 (2023 - 152).
2024
2023
Number
Number
Total
150
152
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
72,621
225,643
144,888
443,152
Additions
1,364
2,877
127,964
132,205
Disposals
(19,459)
(19,459)
At 31 March 2024
73,985
228,520
253,393
555,898
Depreciation and impairment
At 1 April 2023
67,500
191,106
76,487
335,093
Depreciation charged in the year
1,425
8,330
21,488
31,243
Eliminated in respect of disposals
(12,809)
(12,809)
At 31 March 2024
68,925
199,436
85,166
353,527
Carrying amount
At 31 March 2024
5,060
29,084
168,227
202,371
At 31 March 2023
5,121
34,537
68,401
108,059
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
26,387
12,679
CITY CENTRAL CLEANING & SUPPORT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Fixed asset investments
(Continued)
- 8 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
12,679
Valuation changes
13,708
At 31 March 2024
26,387
Carrying amount
At 31 March 2024
26,387
At 31 March 2023
12,679
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
184,655
105,713
Other debtors
14,204
12,576
198,859
118,289
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
24,802
38,421
Taxation and social security
118,689
134,885
Other creditors
147,608
138,593
291,099
311,899
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
105,472
19,722