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Company No: SC276324 (Scotland)

ALLAN INGRAM INDUSTRIAL CLEANING SERVICES LTD.

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

ALLAN INGRAM INDUSTRIAL CLEANING SERVICES LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023

Contents

ALLAN INGRAM INDUSTRIAL CLEANING SERVICES LTD.

BALANCE SHEET

AS AT 30 NOVEMBER 2023
ALLAN INGRAM INDUSTRIAL CLEANING SERVICES LTD.

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 90,571 45,744
90,571 45,744
Current assets
Stocks 3,860 4,200
Debtors 5 931,185 892,608
Cash at bank and in hand 252,230 180,326
1,187,275 1,077,134
Creditors: amounts falling due within one year 6 ( 275,368) ( 289,792)
Net current assets 911,907 787,342
Total assets less current liabilities 1,002,478 833,086
Creditors: amounts falling due after more than one year 7 ( 19,167) ( 29,167)
Provision for liabilities 8, 9 ( 20,898) ( 9,469)
Net assets 962,413 794,450
Capital and reserves
Called-up share capital 10 1,000 1,000
Profit and loss account 961,413 793,450
Total shareholders' funds 962,413 794,450

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Allan Ingram Industrial Cleaning Services Ltd. (registered number: SC276324) were approved and authorised for issue by the Board of Directors on 26 November 2024. They were signed on its behalf by:

Allan Ingram
Director
ALLAN INGRAM INDUSTRIAL CLEANING SERVICES LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
ALLAN INGRAM INDUSTRIAL CLEANING SERVICES LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Allan Ingram Industrial Cleaning Services Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Unit 8 Nevis Bank Industrial Est, Fort William, PH33 6LY, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions paid in the financial year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 20 % reducing balance
Plant and machinery 20 % reducing balance
Vehicles 4 years straight line
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 130 150

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 December 2022 50,000 50,000
At 30 November 2023 50,000 50,000
Accumulated amortisation
At 01 December 2022 50,000 50,000
At 30 November 2023 50,000 50,000
Net book value
At 30 November 2023 0 0
At 30 November 2022 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 December 2022 8,794 43,642 168,409 9,929 230,774
Additions 0 4,968 70,711 840 76,519
Disposals 0 0 ( 55,228) 0 ( 55,228)
At 30 November 2023 8,794 48,610 183,892 10,769 252,065
Accumulated depreciation
At 01 December 2022 5,690 29,407 141,714 8,219 185,030
Charge for the financial year 621 3,140 20,625 454 24,840
Disposals 0 0 ( 48,376) 0 ( 48,376)
At 30 November 2023 6,311 32,547 113,963 8,673 161,494
Net book value
At 30 November 2023 2,483 16,063 69,929 2,096 90,571
At 30 November 2022 3,104 14,235 26,695 1,710 45,744

5. Debtors

2023 2022
£ £
Trade debtors 699,748 667,360
Corporation tax 1,468 0
Other debtors 229,969 225,248
931,185 892,608

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,000 10,000
Trade creditors 25,234 20,559
Taxation and social security 142,450 149,949
Other creditors 97,684 109,284
275,368 289,792

The bank loan is secured by way of a floating charge over the assets of the company.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 19,167 29,167

The bank loan is secured by way of a floating charge over the assets of the company.

8. Provision for liabilities

2023 2022
£ £
Deferred tax 20,898 9,469

9. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 9,469) ( 9,886)
(Charged)/credited to the Statement of Income and Retained Earnings ( 11,429) 417
At the end of financial year ( 20,898) ( 9,469)

10. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

11. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Amounts due from owners holding a participating interest 2,740 0

The above amount is unsecured, interest free and has no fixed terms for repayment.

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to directors of the company 18,301 22,433

The above amount is unsecured, interest free and has no fixed terms for repayment.