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REGISTERED NUMBER: 12177420 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

SAPPHIRE LAUNDRY SYSTEMS LTD

SAPPHIRE LAUNDRY SYSTEMS LTD (REGISTERED NUMBER: 12177420)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAPPHIRE LAUNDRY SYSTEMS LTD

COMPANY INFORMATION
for the Year Ended 31 August 2024







DIRECTORS: Mrs M Bhogal
D S Bhogal





REGISTERED OFFICE: Bank Gallery
13 High Street
Kenilworth
Warwickshire
CV8 1LY





REGISTERED NUMBER: 12177420 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

SAPPHIRE LAUNDRY SYSTEMS LTD (REGISTERED NUMBER: 12177420)

BALANCE SHEET
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 12,089

CURRENT ASSETS
Stocks 74,841 36,549
Debtors 5 88,880 61,502
Cash at bank 90 887
163,811 98,938
CREDITORS
Amounts falling due within one year 6 144,380 91,603
NET CURRENT ASSETS 19,431 7,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,431

19,424

CREDITORS
Amounts falling due after more than one
year

7

(1,781

)

(6,332

)

PROVISIONS FOR LIABILITIES - (2,297 )
NET ASSETS 17,650 10,795

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 17,550 10,695
SHAREHOLDERS' FUNDS 17,650 10,795

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

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

The directors acknowledge their 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.

SAPPHIRE LAUNDRY SYSTEMS LTD (REGISTERED NUMBER: 12177420)

BALANCE SHEET - continued
31 August 2024


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 Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:





D S Bhogal - Director


SAPPHIRE LAUNDRY SYSTEMS LTD (REGISTERED NUMBER: 12177420)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

Sapphire Laundry Systems 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

SAPPHIRE LAUNDRY SYSTEMS LTD (REGISTERED NUMBER: 12177420)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 does not currently operate a defined contribution company scheme. Pension contributions are made into personal schemes nominated by the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 54,163
DEPRECIATION
At 1 September 2023 42,074
Charge for year 12,089
At 31 August 2024 54,163
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 12,089

SAPPHIRE LAUNDRY SYSTEMS LTD (REGISTERED NUMBER: 12177420)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 47,258
DEPRECIATION
At 1 September 2023 35,443
Charge for year 11,815
At 31 August 2024 47,258
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 11,815

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,897 48,144
Other debtors 27,983 13,358
88,880 61,502

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,698 24,591
Hire purchase contracts 4,551 9,044
Trade creditors 49,476 37,168
Taxation and social security 30,408 18,437
Other creditors 38,247 2,363
144,380 91,603

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 1,781 6,332

SAPPHIRE LAUNDRY SYSTEMS LTD (REGISTERED NUMBER: 12177420)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 21,698 23,816
Hire purchase contracts 6,332 15,376
28,030 39,192

9. RELATED PARTY DISCLOSURES

Mr D S and Mrs M Bhogal are also directors of Sapphire Laundry Rentals Limited.

During the year the company made sales of £19,350 (2023: £24,970) to Sapphire Laundry Rentals Limited. At 31 August 2024 debtors included £NIL (2023: £9,560) being owed to the company by Sapphire Laundry Rentals Limited.

During the year, the director’s current account became overdrawn. The maximum amount and the year end balance was £25,280 (2023: £10,666). This has subsequently cleared.

10. ULTIMATE CONTROLLING PARTY

The controlling party is D S Bhogal.