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REGISTERED NUMBER: 01394002 (England and Wales)















JOHN BUCKLEY (DRY CLEANERS) LIMITED

Unaudited Financial Statements for the Year Ended 30 June 2024






JOHN BUCKLEY (DRY CLEANERS) LIMITED (REGISTERED NUMBER: 01394002)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


JOHN BUCKLEY (DRY CLEANERS) LIMITED

Company Information
for the year ended 30 June 2024







Directors: P Buckley
J Buckley
D Buckley
J Buckley



Registered office: 1a Old Warwick Road
Hockley Heath
Solihull
West Midlands
B94 6HH



Registered number: 01394002 (England and Wales)



Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
4th Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX



Bankers: Santander PLC
PO Box 382
21 Prescot Street
London
E1 8AD

JOHN BUCKLEY (DRY CLEANERS) LIMITED (REGISTERED NUMBER: 01394002)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 629,318 635,705

Current assets
Stocks 5 1,000 1,000
Debtors 6 906 1,013
Cash at bank 16,228 5,361
18,134 7,374
Creditors
Amounts falling due within one year 7 94,413 79,115
Net current liabilities (76,279 ) (71,741 )
Total assets less current liabilities 553,039 563,964

Creditors
Amounts falling due after more than one year 8 (11,546 ) (24,195 )

Provisions for liabilities (27,400 ) (27,837 )
Net assets 514,093 511,932

Capital and reserves
Called up share capital 10,000 10,000
Revaluation reserve 418,154 418,154
Retained earnings 85,939 83,778
514,093 511,932

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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.

These accounts were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by:




J Buckley - Director


JOHN BUCKLEY (DRY CLEANERS) LIMITED (REGISTERED NUMBER: 01394002)

Notes to the Financial Statements
for the year ended 30 June 2024

1. Statutory information

John Buckley (Dry Cleaners) Limited 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 accounting
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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Fixed assets
Tangible fixed assets are initially recorded at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Property - 2% straight line
Plant & Machinery - 17.5% reducing balance
Fixtures & Fittings - 17.5% reducing balance
Motor Vehicles - 25% reducing balance
Computer Equipment - 50% reducing balance

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

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.

Pension costs
The pension costs charged to the Profit & Loss Account represent the contributions payable by the company during the year into the personal pensions of the directors and certain employees.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

JOHN BUCKLEY (DRY CLEANERS) LIMITED (REGISTERED NUMBER: 01394002)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. Accounting policies - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Employees and directors

The average number of employees during the year was 6 (2023 - 8 ) .

4. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Cost
At 1 July 2023
and 30 June 2024 601,000 293,946 73,414
Depreciation
At 1 July 2023 - 268,598 67,472
Charge for year - 4,488 1,040
At 30 June 2024 - 273,086 68,512
Net book value
At 30 June 2024 601,000 20,860 4,902
At 30 June 2023 601,000 25,348 5,942

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 July 2023
and 30 June 2024 12,046 28,922 1,009,328
Depreciation
At 1 July 2023 8,664 28,889 373,623
Charge for year 846 13 6,387
At 30 June 2024 9,510 28,902 380,010
Net book value
At 30 June 2024 2,536 20 629,318
At 30 June 2023 3,382 33 635,705

The freehold land and buildings were externally revalued, on an open market value basis by Shepherd Commercial for £601,000 on 20 June 2018, in accordance with the Statement of Assets Valuation Practice Note 4 and the Guidance Notes of the Royal Institution of Chartered Surveyors. The valuation has been adopted in the accounts as at 30 June 2018.The directors' have reviewed the carrying value of the land and buildings and do not believe it is materially different to the fair value.

5. Stocks
2024 2023
£    £   
Work-in-progress 1,000 1,000

JOHN BUCKLEY (DRY CLEANERS) LIMITED (REGISTERED NUMBER: 01394002)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 906 1,013

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 7,762 7,762
Corporation Tax 9,389 11,467
VAT 3,647 639
Other creditors 932 3,518
Directors' loan accounts 71,908 54,954
Accrued expenses 775 775
94,413 79,115

The bank loan is secured by a legal charge over 32 Evesham Road, Stratford-upon-Avon.

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 11,546 24,195

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 19,308 31,957

10. Pensions

The company contributes to the private pension plans of the directors and certain employees. The pension charge represents contributions paid by the company to the plans and amounted to £29,000 (2023: £14,584).