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Registered number: 13936442
123 CLEANERS LONDON LTD
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 13936442
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 109,687 127,939
109,687 127,939
CURRENT ASSETS
Stocks 5 44,500 44,500
Debtors 6 194,587 117,530
Cash at bank and in hand 40,653 58,643
279,740 220,673
Creditors: Amounts Falling Due Within One Year 7 (269,303 ) (134,768 )
NET CURRENT ASSETS (LIABILITIES) 10,437 85,905
TOTAL ASSETS LESS CURRENT LIABILITIES 120,124 213,844
Creditors: Amounts Falling Due After More Than One Year 8 (407,860 ) (229,262 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 - (23,168 )
NET LIABILITIES (287,736 ) (38,586 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Income Statement (287,836 ) (38,686 )
SHAREHOLDERS' FUNDS (287,736) (38,586)
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For the year ending 30 April 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr J Lyle
Director
Ms M R Gomez Orozco
Director
24/02/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
123 CLEANERS LONDON LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13936442 . The registered office is 18-20 Penton Street, London, N1 9PS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% pa straight line
Plant & Machinery 20% pa reducing balance
Motor Vehicles 25% pa reducing balance
Fixtures & Fittings 20% pa reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
...CONTINUED
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2.5. Financial Instruments - continued
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity Instrument
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 23 (2023: 22)
23 22
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 May 2023 7,000 123,526 27,000 1,897 159,423
Additions - 8,919 - - 8,919
As at 30 April 2024 7,000 132,445 27,000 1,897 168,342
Depreciation
As at 1 May 2023 1,000 24,705 5,400 379 31,484
Provided during the period 1,000 21,548 4,320 303 27,171
As at 30 April 2024 2,000 46,253 9,720 682 58,655
Net Book Value
As at 30 April 2024 5,000 86,192 17,280 1,215 109,687
As at 1 May 2023 6,000 98,821 21,600 1,518 127,939
5. Stocks
2024 2023
£ £
Materials 21,000 21,000
Work in progress 23,500 23,500
44,500 44,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 86,151 88,139
Prepayments and accrued income 21,274 15,635
Other debtors 87,162 13,756
194,587 117,530
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 34,670 40,344
Other creditors 53,784 12,864
Taxation and social security 180,849 81,560
269,303 134,768
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to participating interests 407,860 229,262
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9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences - 23,168
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
Sir Gavin Lyle (father of Jake Lyle, a director), is the majority shareholder in Easyspeed Limited. 123 Cleaners London Limited paid rent of £67,200 (2023: £73,920) in the year to Easyspeed Limited.
12. Controlling Party
The company's controlling party is 123 Cleaners Ltd by virtue of his ownership of 51% of the issued share capital in the company.
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