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CLEAN SLATE (UK) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






CLEAN SLATE (UK) LTD (REGISTERED NUMBER: 02994105)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CLEAN SLATE (UK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M Armitage





REGISTERED OFFICE: Unit 1 Raynesway Park Drive
Raynesway
Derby
Derbyshire
DE21 7BH





REGISTERED NUMBER: 02994105 (England and Wales)





ACCOUNTANTS: Sibbalds Limited
Chartered Accountants and Business Advisers
Oakhurst House
57 Ashbourne Road
Derby
Derbyshire
DE22 3FS

CLEAN SLATE (UK) LTD (REGISTERED NUMBER: 02994105)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 299,079 320,559
Tangible assets 5 374,135 301,808
673,214 622,367

CURRENT ASSETS
Stocks 103,481 82,457
Debtors 6 766,533 817,200
Cash at bank and in hand 11,863 5,661
881,877 905,318
CREDITORS
Amounts falling due within one year 7 1,094,646 1,151,387
NET CURRENT LIABILITIES (212,769 ) (246,069 )
TOTAL ASSETS LESS CURRENT LIABILITIES 460,445 376,298

CREDITORS
Amounts falling due after more than one year 8 (191,174 ) (125,228 )

PROVISIONS FOR LIABILITIES 11 (70,400 ) (54,400 )
NET ASSETS 198,871 196,670

CLEAN SLATE (UK) LTD (REGISTERED NUMBER: 02994105)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 108 108
Share premium 52,912 52,912
Capital redemption reserve 50,002 50,002
Retained earnings 95,849 93,648
SHAREHOLDERS' FUNDS 198,871 196,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





M Armitage - Director


CLEAN SLATE (UK) LTD (REGISTERED NUMBER: 02994105)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Clean Slate (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 20% on reducing balance
Equipment - 20% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


CLEAN SLATE (UK) LTD (REGISTERED NUMBER: 02994105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 351 (2023 - 344 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 457,255
AMORTISATION
At 1 April 2023 136,696
Amortisation for year 21,480
At 31 March 2024 158,176
NET BOOK VALUE
At 31 March 2024 299,079
At 31 March 2023 320,559

CLEAN SLATE (UK) LTD (REGISTERED NUMBER: 02994105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery Equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 62,078 158,833 166,569 392,533 780,013
Additions 5,785 9,696 31,516 180,076 227,073
Disposals (352 ) (12,855 ) (3,162 ) (149,244 ) (165,613 )
At 31 March 2024 67,511 155,674 194,923 423,365 841,473
DEPRECIATION
At 1 April 2023 31,952 108,270 110,339 227,644 478,205
Charge for year 4,948 10,833 14,579 39,094 69,454
Eliminated on disposal (352 ) (11,602 ) (2,971 ) (65,396 ) (80,321 )
At 31 March 2024 36,548 107,501 121,947 201,342 467,338
NET BOOK VALUE
At 31 March 2024 30,963 48,173 72,976 222,023 374,135
At 31 March 2023 30,126 50,563 56,230 164,889 301,808

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 694,244 725,797
Other debtors 72,289 91,403
766,533 817,200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 23,699 21,474
Hire purchase contracts (see note 9) 53,451 40,060
Trade creditors 101,978 62,052
Taxation and social security 307,604 331,143
Other creditors 607,914 696,658
1,094,646 1,151,387

CLEAN SLATE (UK) LTD (REGISTERED NUMBER: 02994105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 71,469 88,819
Hire purchase contracts (see note 9) 119,705 24,621
Other creditors - 11,788
191,174 125,228

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 53,451 40,060
Between one and five years 119,705 24,621
173,156 64,681

Non-cancellable operating leases
2024 2023
£    £   
Within one year 67,089 71,918
Between one and five years 203,024 219,357
In more than five years 29,608 80,364
299,721 371,639

CLEAN SLATE (UK) LTD (REGISTERED NUMBER: 02994105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 11,788 55,731
Hire purchase contracts 173,156 64,681
Bank loans 45,375 60,500
Lloyds invoice discounting 319,970 394,015
550,289 574,927

The company has a confidential invoice discounting facility to borrow up to 90% of eligible trade debtors.
The bank overdraft and other loans are secured by personal guarantees made by the director.
Liabilities under hire purchases contracts and finance leases are secured on the assets concerned.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 70,400 54,400

Deferred
tax
£   
Balance at 1 April 2023 54,400
Provided during year 16,000
Balance at 31 March 2024 70,400

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
88,408 Ordinary Shares 0.001 88 88
20 Fixed Income Ordinary 1 20 20
108 108

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

M Armitage has guaranteed borrowings of the company for the amount of £57,163 (2023 - £116,230).