Company registration number 3834144 (England and Wales)
MASTER CLEANERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
MASTER CLEANERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MASTER CLEANERS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,454
3,098
Current assets
Stocks
89
155
Debtors
4
28,064
36,379
Cash at bank and in hand
748,721
663,723
776,874
700,257
Creditors: amounts falling due within one year
5
(106,083)
(154,308)
Net current assets
670,791
545,949
Total assets less current liabilities
673,245
549,047
Provisions for liabilities
6
(362)
(367)
Net assets
672,883
548,680
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
671,883
547,680
Total equity
672,883
548,680

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 10 February 2025
Sotos Kyprianou Kontopirgou
Director
Company registration number 3834144 (England and Wales)
MASTER CLEANERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information

MASTER CLEANERS LIMITED is a private company limited by shares incorporated in England and Wales. The registered office is 1 Queens Parade, Brownlow Road, London, N11 2DN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The director intends to cease trading 28 February 2025 and enter into members' voluntary liquidation. No adjustment to the accounts was considered necessary as creditors are all current, consisting primarily of corporation tax, VAT and amounts due to the director. Fixed assets remain at net book value and are not expected to differ materially from their current market value.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and trade discounts.

 

Where a work has been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
10% Straight line
Motor vehicles
25% Reducing balance

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.

1.5
Stocks

Stocks are stated at the lower of cost and net realisable value.

MASTER CLEANERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

 

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

2
Employees

The average monthly number of persons employed by the company during the year was 181 (2023 - 189).

2024
2023
Number
Number
Total
181
189
MASTER CLEANERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023
21,610
Additions
58
At 31 August 2024
21,668
Depreciation and impairment
At 1 September 2023
18,512
Depreciation charged in the year
702
At 31 August 2024
19,214
Carrying amount
At 31 August 2024
2,454
At 31 August 2023
3,098
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
27,340
35,287
Other debtors
724
1,092
28,064
36,379
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,970
30,753
Corporation tax
46,192
49,911
Other taxation and social security
45,350
40,204
Director's current account
9,071
29,940
Other creditors
3,500
3,500
106,083
154,308
MASTER CLEANERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities b/fwd
367
207
Deferred tax movement for the year
(5)
160
Deferred tax liabilities c/fwd
362
367
7
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
8
Directors' transactions

Dividends totalling £22,478 (2023 - £32,967) were paid in the year in respect of shares held by the company's director.

9
Controlling party

The company was controlled throughout the current and previous year by the director and secretary by virtue of the fact that between them, they own 100% of the company's issued share capital.

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