REGISTERED NUMBER: |
JOHN BUCKLEY (DRY CLEANERS) LIMITED |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Accountants: |
CUBO Birmingham |
4th Floor |
Two Chamberlain Square |
Birmingham |
West Midlands |
B3 3AX |
Bankers: |
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 |
Current assets |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Revaluation reserve |
Retained earnings |
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. |
These accounts were approved by the Board of Directors and authorised for issue on |
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 |
2. | Accounting policies |
Basis of accounting |
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 |
4. | Tangible fixed assets |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Cost |
At 1 July 2023 |
and 30 June 2024 |
Depreciation |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost |
At 1 July 2023 |
and 30 June 2024 |
Depreciation |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
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 |
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 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Corporation Tax |
VAT | 3,647 | 639 |
Other creditors |
Directors' loan accounts | 71,908 | 54,954 |
Accrued expenses |
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 |
9. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
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). |