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Registration number: 03316298

B' Smart Dry Cleaners Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2025

 

B' Smart Dry Cleaners Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

B' Smart Dry Cleaners Ltd

(Registration number: 03316298)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

4,056

2,828

Current assets

 

Debtors

5

914

1,778

Cash at bank and in hand

 

29,102

43,195

 

30,016

44,973

Creditors: Amounts falling due within one year

6

(24,651)

(26,168)

Net current assets

 

5,365

18,805

Total assets less current liabilities

 

9,421

21,633

Creditors: Amounts falling due after more than one year

6

(3,500)

(9,500)

Provisions for liabilities

(771)

(537)

Net assets

 

5,150

11,596

Capital and reserves

 

Called up share capital

100

100

Retained earnings

5,050

11,496

Shareholders' funds

 

5,150

11,596

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

 

B' Smart Dry Cleaners Ltd

(Registration number: 03316298)
Balance Sheet as at 31 January 2025

.........................................
Mr Gareth Andrew Haywood
Director

.........................................
Mrs Olivia Ann Haywood
Company secretary and director

 

B' Smart Dry Cleaners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
United Kingdom

These financial statements were authorised for issue by the Board on 25 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

B' Smart Dry Cleaners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

Fixtures & fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

B' Smart Dry Cleaners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

37,679

9,990

47,669

Additions

2,580

-

2,580

At 31 January 2025

40,259

9,990

50,249

Depreciation

At 1 February 2024

34,851

9,990

44,841

Charge for the year

1,352

-

1,352

At 31 January 2025

36,203

9,990

46,193

Carrying amount

At 31 January 2025

4,056

-

4,056

At 31 January 2024

2,828

-

2,828

5

Debtors

Current

2025
£

2024
£

Trade debtors

914

1,778

 

914

1,778

 

B' Smart Dry Cleaners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

11

18,134

18,383

Taxation and social security

 

6,639

7,161

Other creditors

 

(122)

624

 

24,651

26,168

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

11

3,500

9,500

7

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Dividends

Interim dividends paid

2025
£

2024
£

Interim dividend of £135.00 (2024 - £145.00) per each Ordinary Shares

13,500

14,500

 

 
 

B' Smart Dry Cleaners Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

9

Related party transactions

Dividends paid to directors

2025
£

2024
£

Mr Gareth Andrew Haywood

Ordinary dividend

6,750

7,250

 

 

Mrs Olivia Ann Haywood

Ordinary dividend

6,750

7,250

 

 

Other transactions with directors

At the company year end the company owed the directors a net of £413 (2024 : £365). There is no set repayment term or interest being charged.

10

Parent and ultimate parent undertaking

The ultimate controlling party is Gareth and Olivia Haywood as directors and shareholders acting in concert.

11

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

3,500

9,500

Current loans and borrowings

2025
£

2024
£

Bank borrowings

6,000

6,000

Bank overdrafts

12,134

12,383

18,134

18,383