Registered number
08676723
The London Chimney Sweeps Limited
Filleted Accounts
30 June 2024
The London Chimney Sweeps Limited
Registered number: 08676723
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,498 4,065
Current assets
Stocks 1,667 1,667
Debtors 4 239,903 307,460
Cash at bank and in hand 11,879 63,871
253,449 372,998
Creditors: amounts falling due within one year 5 (159,441) (163,588)
Net current assets 94,008 209,410
Total assets less current liabilities 105,506 213,475
Creditors: amounts falling due after more than one year 6 (121,015) (194,815)
Net (liabilities)/assets (15,509) 18,660
Capital and reserves
Called up share capital 2 2
Profit and loss account (15,511) 18,658
Shareholders' funds (15,509) 18,660
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Byrne
Director
Approved by the board on 10 March 2025
The London Chimney Sweeps Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 11
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 51,393 8,020 59,413
Additions 958 11,390 12,348
Disposals (305) - (305)
At 30 June 2024 52,046 19,410 71,456
Depreciation
At 1 July 2023 50,665 4,683 55,348
Charge for the year 1,208 3,707 4,915
On disposals (305) - (305)
At 30 June 2024 51,568 8,390 59,958
Net book value
At 30 June 2024 478 11,020 11,498
At 30 June 2023 728 3,337 4,065
4 Debtors 2024 2023
£ £
Trade debtors 60,127 102,007
Other debtors 179,776 205,453
239,903 307,460
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 54,004 12,277
Trade creditors 87,039 104,109
Taxation and social security costs 14,636 43,464
Other creditors 3,762 3,738
159,441 163,588
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 64,501 95,266
Amounts owed to group undertakings and undertakings in which the company has a participating interest 56,514 99,549
121,015 194,815
7 Other information
The London Chimney Sweeps Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 139 Airport House
Purley Way
Croydon
CR0 0XZ
The London Chimney Sweeps Limited 08676723 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 S Byrne No description of principal activity 08676723 2022-07-01 2023-06-30 08676723 core:WithinOneYear 2023-06-30 08676723 core:AfterOneYear 2023-06-30 08676723 core:ShareCapital 2023-06-30 08676723 core:RetainedEarningsAccumulatedLosses 2023-06-30 08676723 2023-07-01 2024-06-30 08676723 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08676723 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08676723 bus:Director40 2023-07-01 2024-06-30 08676723 1 2023-07-01 2024-06-30 08676723 2 2023-07-01 2024-06-30 08676723 core:PlantMachinery 2023-07-01 2024-06-30 08676723 core:Vehicles 2023-07-01 2024-06-30 08676723 countries:England 2023-07-01 2024-06-30 08676723 bus:FRS102 2023-07-01 2024-06-30 08676723 bus:FilletedAccounts 2023-07-01 2024-06-30 08676723 2024-06-30 08676723 core:WithinOneYear 2024-06-30 08676723 core:AfterOneYear 2024-06-30 08676723 core:ShareCapital 2024-06-30 08676723 core:RetainedEarningsAccumulatedLosses 2024-06-30 08676723 core:PlantMachinery 2024-06-30 08676723 core:Vehicles 2024-06-30 08676723 2023-06-30 08676723 core:PlantMachinery 2023-06-30 08676723 core:Vehicles 2023-06-30 iso4217:GBP xbrli:pure