Registered number
SC558811
Spotless Property Services Ltd
Unaudited Filleted Accounts
31 March 2024
Spotless Property Services Ltd
Registered number: SC558811
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 28,538 32,760
Current assets
Stocks 2,672 2,617
Debtors 4 31,136 26,117
Cash at bank and in hand 8,790 4,377
42,598 33,111
Creditors: amounts falling due within one year 5 (34,093) (34,676)
Net current assets/(liabilities) 8,505 (1,565)
Total assets less current liabilities 37,043 31,195
Creditors: amounts falling due after more than one year 6 (10,456) (16,345)
Net assets 26,587 14,850
Capital and reserves
Called up share capital 4 4
Profit and loss account 26,583 14,846
Shareholders' funds 26,587 14,850
The director is 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 director acknowledges his 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.
Alasdair J Ingram
Director
Approved by the board on 12 November 2024
Spotless Property Services 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:
Plant & machinery - including carpet cleaning equipment, chimney related equipment, mowers, strimmers, office equipment, chainsaws & trailer over 4 years
Plant & machinery - Starlink kit over 10 years
Plant & machinery - Moveable mezzanine decking over 20 years
Motor vehicles - commercial vans 25% reducing balance
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.
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 1 2
3 Tangible fixed assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
At 1 April 2023 40,463 45,017 85,480
Additions 6,271 - 6,271
Disposals (2,316) - (2,316)
At 31 March 2024 44,418 45,017 89,435
Depreciation
At 1 April 2023 33,582 19,138 52,720
Charge for the year 3,930 6,470 10,400
On disposals (2,223) - (2,223)
At 31 March 2024 35,289 25,608 60,897
Net book value
At 31 March 2024 9,129 19,409 28,538
At 31 March 2023 6,881 25,879 32,760
4 Debtors 2024 2023
£ £
Trade debtors 13,885 22,083
Other taxes & social security 1,139 2,425
Prepayments & accrued Income 16,112 1,577
Pensions repayable - 32
31,136 26,117
5 Creditors: amounts falling due within one year 2024 2023
£ £
Director's loan account - 17,045
Bank loans 6,585 6,000
Wages payable 734 -
Trade creditors 16,087 7,029
Accruals 1,247 2,195
Corporation tax 5,093 528
VAT payable 2,822 -
Deferred tax 1,525 1,879
34,093 34,676
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,159 12,000
Deferred tax 3,297 4,345
10,456 16,345
7 Related party transactions
At the year end the director, Alasdair Ingram, was owed £Nil (2023: £17,045) by the company. No interest has been charged to the company on the outstanding balance owed to the director.
8 Other information
Spotless Property Services Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
1 Strongarbh Park
Strongarbh
Tobermory
Isle of Mull
PA75 6RB
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