Registered number
09155811
(Established 1897) Dry Cleaners Limited
Report and Accounts
30 September 2024
(Established 1897) Dry Cleaners Limited
Report to the director on the preparation of the unaudited statutory accounts of (Established 1897) Dry Cleaners Limited for the year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of (Established 1897) Dry Cleaners Limited for the year ended 30 September 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Ltd
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
NG8 2BE
17 February 2025
(Established 1897) Dry Cleaners Limited
Registered number: 09155811
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 6,000
Tangible assets 4 29,790 33,808
29,790 39,808
Current assets
Stocks 7,000 6,000
Debtors 5 67,290 63,689
Cash at bank and in hand 39,469 35,641
113,759 105,330
Creditors: amounts falling due within one year 6 (79,497) (65,537)
Net current assets 34,262 39,793
Total assets less current liabilities 64,052 79,601
Creditors: amounts falling due after more than one year 7 (11,748) (26,743)
Provisions for liabilities (3,861) (5,764)
Net assets 48,443 47,094
Capital and reserves
Called up share capital 100 100
Profit and loss account 48,343 46,994
Shareholder's funds 48,443 47,094
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Redgate
Director
Approved by the board on 17 February 2025
(Established 1897) Dry Cleaners Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being written off evenly over its expected useful life of ten years.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% Straight line
Computer equipment 33% Straight line
Motor vehicles 25% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 60,000
At 30 September 2024 60,000
Amortisation
At 1 October 2023 54,000
Provided during the year 6,000
At 30 September 2024 60,000
Net book value
At 30 September 2024 -
At 30 September 2023 6,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 3,131 144,983 31,910 180,024
Additions - 9,378 - 9,378
At 30 September 2024 3,131 154,361 31,910 189,402
Depreciation
At 1 October 2023 3,130 120,943 22,143 146,216
Charge for the year - 10,954 2,442 13,396
At 30 September 2024 3,130 131,897 24,585 159,612
Net book value
At 30 September 2024 1 22,464 7,325 29,790
At 30 September 2023 1 24,040 9,767 33,808
5 Debtors 2024 2023
£ £
Trade debtors 43,142 39,541
Other debtors 24,148 24,148
67,290 63,689
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 19,974 10,648
Obligations under finance lease and hire purchase contracts 4,170 5,001
Trade creditors 10,905 9,289
Corporation tax 9,528 5,076
Other taxes and social security costs 31,351 26,763
Other creditors 3,569 8,760
79,497 65,537
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,748 21,693
Obligations under finance lease and hire purchase contracts - 5,050
11,748 26,743
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 11,748 21,693
The loans are secured on the assets to which they relate.
9 Other information
(Established 1897) Dry Cleaners Limited is a private company limited by shares and incorporated in England. Its registered office is:
Winchester Street
Nottingham
NG5 4DR
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