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COMPANY REGISTRATION NUMBER: 04434339
Mobile Steam Cleaning Limited
Filleted Unaudited Financial Statements
31 January 2024
Mobile Steam Cleaning Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
10,135
9,902
Current assets
Stocks
1,025
925
Debtors
6
13,621
11,904
Cash at bank and in hand
11,192
14,788
--------
--------
25,838
27,617
Creditors: amounts falling due within one year
7
22,808
22,980
--------
--------
Net current assets
3,030
4,637
--------
--------
Total assets less current liabilities
13,165
14,539
Provisions
Taxation including deferred tax
1,926
1,882
--------
--------
Net assets
11,239
12,657
--------
--------
Capital and reserves
Called up share capital
110
110
Profit and loss account
11,129
12,547
--------
--------
Shareholders funds
11,239
12,657
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Mobile Steam Cleaning Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 14 November 2024 , and are signed on behalf of the board by:
D Rowsell Esq
Director
Company registration number: 04434339
Mobile Steam Cleaning Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, Hampshire, PO12 1LY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
No significant judgements have been made by the director in preparing these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Tax on (loss)/profit
Major components of tax (income)/expense
2024
2023
£
£
Current tax:
UK current tax expense
1,885
Adjustments in respect of prior periods
( 120)
----
-------
Total current tax
( 120)
1,885
----
-------
Deferred tax:
Origination and reversal of timing differences
44
( 221)
----
-------
Tax on (loss)/profit
( 76)
1,664
----
-------
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 February 2023
16,502
11,600
616
28,718
Additions
2,700
2,700
--------
--------
----
--------
At 31 January 2024
16,502
14,300
616
31,418
--------
--------
----
--------
Depreciation
At 1 February 2023
9,534
8,831
451
18,816
Charge for the year
1,027
1,397
43
2,467
--------
--------
----
--------
At 31 January 2024
10,561
10,228
494
21,283
--------
--------
----
--------
Carrying amount
At 31 January 2024
5,941
4,072
122
10,135
--------
--------
----
--------
At 31 January 2023
6,968
2,769
165
9,902
--------
--------
----
--------
6. Debtors
2024
2023
£
£
Trade debtors
13,621
11,904
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
247
Corporation tax
144
1,996
Other creditors
22,664
20,737
--------
--------
22,808
22,980
--------
--------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
D Rowsell Esq
( 18,572)
( 1,927)
( 20,499)
--------
-------
--------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
D Rowsell Esq
( 6,452)
( 12,120)
( 18,572)
-------
--------
--------