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Registration number: 03087327

Atlantic Cleaning Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Atlantic Cleaning Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Atlantic Cleaning Services Limited

Company Information

Directors

Lee David Robinson

Allison Jay Robinson

Company secretary

Allison Jay Robinson

Registered office

Lawford House
Albert Place
London
N3 1QA

Accountants

Sterlings Ltd
Chartered Accountants
Lawford House
Albert Place
London
N3 1QA

 

Atlantic Cleaning Services Limited

(Registration number: 03087327)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

183,114

85,472

Investment property

5

238,345

238,345

 

421,459

323,817

Current assets

 

Stocks

6

1,850

1,670

Debtors

7

436,079

413,907

Cash at bank and in hand

 

57,864

353,461

 

495,793

769,038

Creditors: Amounts falling due within one year

8

(269,907)

(455,876)

Net current assets

 

225,886

313,162

Total assets less current liabilities

 

647,345

636,979

Creditors: Amounts falling due after more than one year

8

(170,456)

(170,456)

Net assets

 

476,889

466,523

Capital and reserves

 

Called up share capital

9

2

2

Profit and loss account

476,887

466,521

Shareholders' funds

 

476,889

466,523

 

Atlantic Cleaning Services Limited

(Registration number: 03087327)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
Lee David Robinson
Director

 

Atlantic Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Lawford House
Albert Place
London
N3 1QA
England

The principal place of business is:
6-8 Island Centre Way
Enfield Island Village
Enfield
Middlesex
EN3 6GS

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Atlantic Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33.33% Reducing balance

Fixtures fittings and equipment

20% Reducing balance

Motor vehicles

20% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Atlantic Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Atlantic Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 314 (2023 - 314).

 

Atlantic Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

32,686

21,631

121,520

175,837

Additions

1,937

3,844

146,253

152,034

Disposals

-

-

(26,139)

(26,139)

At 31 March 2024

34,623

25,475

241,634

301,732

Depreciation

At 1 April 2023

14,194

14,083

62,088

90,365

Charge for the year

4,086

3,797

39,794

47,677

Eliminated on disposal

-

-

(19,424)

(19,424)

At 31 March 2024

18,280

17,880

82,458

118,618

Carrying amount

At 31 March 2024

16,343

7,595

159,176

183,114

At 31 March 2023

18,492

7,548

59,432

85,472

5

Investment properties

2024
£

At 1 April

238,345

At 31 March

238,345

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Other inventories

1,850

1,670

 

Atlantic Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

400,017

389,119

Prepayments

32,702

20,107

Other debtors

3,360

4,681

 

436,079

413,907

 

Atlantic Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

(36,477)

207,686

Trade creditors

 

74,632

58,138

Taxation and social security

 

225,299

181,433

Accruals and deferred income

 

5,849

6,040

Other creditors

 

604

2,579

 

269,907

455,876

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

170,456

170,456

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

170,456

170,456

 

Atlantic Cleaning Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

45,000

65,000

Finance lease liabilities

140,218

50,005

Other borrowings

(221,695)

92,681

(36,477)

207,686

11

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Lee David Robinson

Loan account

(1,289)

71,988

(71,000)

(302)

Allison Jay Robinson

Loan account

(1,289)

71,988

(71,000)

(302)

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Lee David Robinson

Loan account

(12,923)

51,633

(40,000)

(1,289)

Allison Jay Robinson

Loan account

(12,923)

51,633

(40,000)

(1,289)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

30,616

27,988

Contributions paid to money purchase schemes

2,880

2,880

33,496

30,868