Caseware UK (AP4) 2024.0.164 2024.0.164 2023-12-312023-05-012023-05-012023-12-317falseNo description of principal activity2023-05-01false6falsefalse 01233735 2023-05-01 2023-12-31 01233735 2022-05-01 2023-04-30 01233735 2023-12-31 01233735 2023-04-30 01233735 c:Director1 2023-05-01 2023-12-31 01233735 c:Director1 2023-12-31 01233735 c:Director2 2023-05-01 2023-12-31 01233735 c:Director2 2023-12-31 01233735 c:Director3 2023-05-01 2023-12-31 01233735 c:Director4 2023-05-01 2023-12-31 01233735 c:RegisteredOffice 2023-05-01 2023-12-31 01233735 d:PlantMachinery 2023-05-01 2023-12-31 01233735 d:PlantMachinery 2023-12-31 01233735 d:PlantMachinery 2023-04-30 01233735 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2023-12-31 01233735 d:MotorVehicles 2023-05-01 2023-12-31 01233735 d:MotorVehicles 2023-12-31 01233735 d:MotorVehicles 2023-04-30 01233735 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2023-12-31 01233735 d:OfficeEquipment 2023-05-01 2023-12-31 01233735 d:OfficeEquipment 2023-12-31 01233735 d:OfficeEquipment 2023-04-30 01233735 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2023-12-31 01233735 d:OwnedOrFreeholdAssets 2023-05-01 2023-12-31 01233735 d:CurrentFinancialInstruments 2023-12-31 01233735 d:CurrentFinancialInstruments 2023-04-30 01233735 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01233735 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 01233735 d:ShareCapital 2023-12-31 01233735 d:ShareCapital 2023-04-30 01233735 d:CapitalRedemptionReserve 2023-12-31 01233735 d:CapitalRedemptionReserve 2023-04-30 01233735 d:RetainedEarningsAccumulatedLosses 2023-12-31 01233735 d:RetainedEarningsAccumulatedLosses 2023-04-30 01233735 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01233735 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 01233735 c:OrdinaryShareClass1 2023-05-01 2023-12-31 01233735 c:OrdinaryShareClass1 2023-12-31 01233735 c:OrdinaryShareClass2 2023-05-01 2023-12-31 01233735 c:OrdinaryShareClass2 2023-12-31 01233735 c:OrdinaryShareClass3 2023-05-01 2023-12-31 01233735 c:OrdinaryShareClass3 2023-12-31 01233735 c:OrdinaryShareClass4 2023-05-01 2023-12-31 01233735 c:OrdinaryShareClass4 2023-12-31 01233735 c:FRS102 2023-05-01 2023-12-31 01233735 c:Audited 2023-05-01 2023-12-31 01233735 c:FullAccounts 2023-05-01 2023-12-31 01233735 c:PrivateLimitedCompanyLtd 2023-05-01 2023-12-31 01233735 2 2023-05-01 2023-12-31 01233735 e:PoundSterling 2023-05-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01233735









F. & G. CLEANERS LIMITED









DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
F. & G. CLEANERS LIMITED
 
 
COMPANY INFORMATION


Directors
N J Earley 
R W Empson 
M J Cheese 
L A Cheese 




Registered number
01233735



Registered office
Riding Court House
Riding Court Road

Datchet

Slough

England

SL39JT




Independent auditors
Hiller Hopkins LLP
Chartered Accountants & Statutory Auditors

Ground floor

45 Pall Mall

London

SW1Y5JG





 
F. & G. CLEANERS LIMITED
 

CONTENTS



Page
Directors' report
 
1 - 2
Independent auditors' report
 
3 - 6
Statement of comprehensive income
 
7
Statement of financial position
 
8
Notes to the financial statements
 
9 - 18


 
F. & G. CLEANERS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the period ended 31 December 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the period were:

N J Earley (appointed 1 May 2023)
R W Empson (appointed 1 May 2023)
M J Cheese 
L A Cheese 

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsHiller Hopkins LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 1

 
F. & G. CLEANERS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 8 March 2025 and signed on its behalf.
 





N J Earley
Director

Page 2

 
F. & G. CLEANERS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF F. & G. CLEANERS LIMITED
 

Opinion


We have audited the financial statements of F. & G. Cleaners Limited (the 'Company') for the period ended 31 December 2023, which comprise the Statement of comprehensive income, the Statement of financial position and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 December 2023 and of its profit for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 3

 
F. & G. CLEANERS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF F. & G. CLEANERS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the Directors' report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.Auditors' responsibilities for the audit of the financial statements
Page 4

 
F. & G. CLEANERS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF F. & G. CLEANERS LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

the nature of the industry and sector, control environment and business performance including the remuneration incentives and pressures of key management;
the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. We consider the results of our enquiries of management about their own identification and assessment of the risks of irregularities;
any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to:
 
°identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
°detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud;
°the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
 
the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
 
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and relevant tax legislation.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Page 5

 
F. & G. CLEANERS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF F. & G. CLEANERS LIMITED (CONTINUED)




Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.


Other matters
The period ended 31 December 2023 is the first period that has been audited and therefore the comparative period is unaudited.





Michael Jacoby (Senior statutory auditor)
for and on behalf of
Hiller Hopkins LLP
Chartered Accountants & Statutory Auditors
Ground floor
45 Pall Mall
London
SW1Y5JG

10 March 2025
Page 6

 
F. & G. CLEANERS LIMITED
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2023

Period ended
31 December 2023
Unaudited
period ended 30 April
2023
£
£

  

Turnover
  
664,582
1,130,122

Cost of sales
  
(459,535)
(502,626)

Gross profit
  
205,047
627,496

Administrative expenses
  
(98,264)
(347,018)

Operating profit
  
106,783
280,478

Interest receivable and similar income
  
-
88

Interest payable and similar expenses
  
(322)
-

Profit before tax
  
106,461
280,566

Tax on profit
  
(26,988)
(55,426)

Profit for the financial period
  
79,473
225,140

Total comprehensive income for the period
  
79,473
225,140

The notes on pages 9 to 18 form part of these financial statements.

Page 7

 
F. & G. CLEANERS LIMITED
REGISTERED NUMBER: 01233735

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

31 December
Unaudited
30 April
2023
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
43,569
52,282

  
43,569
52,282

Current assets
  

Stocks
 7 
90,881
-

Debtors: amounts falling due within one year
 8 
154,921
229,683

Cash at bank and in hand
 9 
322,037
243,454

  
567,839
473,137

Creditors: amounts falling due within one year
 10 
(179,971)
(171,276)

Net current assets
  
 
 
387,868
 
 
301,861

Total assets less current liabilities
  
431,437
354,143

Provisions for liabilities
  

Deferred tax
 11 
(10,892)
(13,071)

Net assets
  
420,545
341,072


Capital and reserves
  

Called up share capital 
 12 
50
50

Capital redemption reserve
  
3,450
3,450

Profit and loss account
  
417,045
337,572

  
420,545
341,072


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 March 2025.


N J Earley
Director

The notes on pages 9 to 18 form part of these financial statements.

Page 8

 
F. & G. CLEANERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

F & G Cleaners Limited is a private company limited by shares, incorporated in England and Wales. The address of the registered office is Riding Court House, Riding Court Road, Datchet, Slough, SL39JT. 
The principal activity of the company during the year continued to be that of commercial and contractual window cleaning and other general commercial cleaning.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 9

 
F. & G. CLEANERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 10

 
F. & G. CLEANERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%
Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 11

 
F. & G. CLEANERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to the Statement of comprehensive income.

 
2.14

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the Statement of comprehensive income.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Page 12

 
F. & G. CLEANERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 13

 
F. & G. CLEANERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

3.


Auditors' remuneration

During the period, the Company obtained the following services from the Company's auditors:


Period ended
31 December
2023
Unaudited
period ended
30 April
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
8,300
10,675

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.


4.


Employees

The average monthly number of employees, including directors, during the period was 7 (period ended 30 April 2023 -  6).


5.


Directors' remuneration

2023
2023
£
£

Directors' emoluments
-
19,765

Company contributions to defined contribution pension schemes
-
130,000

-
149,765




Page 14

 
F. & G. CLEANERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Tangible fixed assets







Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost


At 1 May 2023
22,916
79,869
5,254
108,039



At 31 December 2023

22,916
79,869
5,254
108,039



Depreciation


At 1 May 2023
9,234
45,181
1,342
55,757


Charge for the period
2,280
5,781
652
8,713



At 31 December 2023

11,514
50,962
1,994
64,470



Net book value



At 31 December 2023
11,402
28,907
3,260
43,569



At 30 April 2023
13,682
34,688
3,912
52,282


7.


Stocks

31 December
Unaudited
30 April
2023
2023
£
£

Work in progress
90,881
-

90,881
-


Page 15

 
F. & G. CLEANERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

8.


Debtors

31 December
Unaudited
30 April
2023
2023
£
£


Trade debtors
119,192
219,713

Amounts owed by group undertakings
28,188
-

Prepayments and accrued income
7,541
9,970

154,921
229,683



9.


Cash and cash equivalents

31 December
Unaudited
30 April
2023
2023
£
£

Cash at bank and in hand
322,037
243,454

322,037
243,454



10.


Creditors: Amounts falling due within one year

31 December
Unaudited
30 April
2023
2023
£
£

Trade creditors
40,374
28,028

Corporation tax
84,534
55,045

Other taxation and social security
38,263
62,918

Accruals and deferred income
16,800
25,285

179,971
171,276


Page 16

 
F. & G. CLEANERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

11.


Deferred taxation






31 December  2023


£






At beginning of year
13,071


Charged to the Statement of comprehensive income
(2,179)



At end of year
10,892

The provision for deferred taxation is made up as follows:

31 December
Unaudited
30 April
2023
2023
£
£


Accelerated capital allowances
10,892
13,071

10,892
13,071


12.


Share capital

31 December
30 April
2023
2023
£
£
Allotted, called up and fully paid



24 Ordinary A shares of £1 each
24
24
1 Ordinary B share of £1
1
1
24 Ordinary C shares of £1 each
24
24
1 Ordinary D share of £1
1
1

50

50



13.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund for the period and amounted to £1,454 (period ended 30 April 2023 -  £130,000). No amount was outstanding to the pension fund at the year end.

Page 17

 
F. & G. CLEANERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

14.


Related party transactions

The Company has taken advantage of the exemption in FRS 102 Section 33: Related party disclosures from the requirement to disclose transactions with other wholly owned group companies.


15.


Controlling party

The immediate parent company is Atlas FM Limited and the ultimate parent company is Atlas FM Group Limited. Both companies are incorporated in England and Wales. Atlas FM Group Limited has prepared group accounts for the year ended 31 December 2023. Consolidated accounts for Atlas FM Group Limited are available from Riding Court House, Riding Court Road, Datchet, Berkshire, SL3 9JT. This is the only company in the group which prepares consolidated accounts. 
The directors of Atlas FM Group Limited are of the opinion that N J Earley and R W Empson are the ultimate controlling parties.
After the year end, on 29 October 2024, the Atlas FM Group Employee Ownership Trust purchased 100% of the share capital to become the controlling party. The ultimate controlling party subsequently became Zedra Trust Company (Guernsey) Limited, which is the Trustee of the Atlas FM Group Employee Ownership Trust.

 
Page 18