Registration number: 01778990

System Hygiene Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 10

System Hygiene Limited

(Registration number: 01778990)
Balance Sheet as at 31 August 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	835,999	523,114
Other financial assets	6	454,471	405,508
		1,290,470	928,622
Current assets
Stocks	7	702,481	780,423
Debtors	8	790,848	852,786
Cash at bank and in hand		1,816,147	1,677,978
		3,309,476	3,311,187
Creditors: Amounts falling due within one year	9	(1,055,838)	(989,562)
Net current assets		2,253,638	2,321,625
Total assets less current liabilities		3,544,108	3,250,247
Creditors: Amounts falling due after more than one year	9	(154,126)	-
Provisions for liabilities		(186,881)	(84,798)
Net assets		3,203,101	3,165,449
Capital and reserves
Called up share capital	10	1,000	1,000
Retained earnings		3,202,101	3,164,449
Shareholders' funds		3,203,101	3,165,449

System Hygiene Limited

(Registration number: 01778990)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account and director’s report have not been delivered in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised by the director on 24 March 2025
 

......................................... Mr RM Huddleston Director

System Hygiene Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

1	General information

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

The address of its registered office is:
Altham Business Park
Altham
Accrington
Lancashire
BB5 5YT
England

These financial statements were authorised for issue by the director on 24 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 presented in Sterling, which is the functional currency of the company and are rounded to the nearest pound.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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.

System Hygiene Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

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
Fixtures and equipment	15% reducing balance basis
Freehold land and buildings	2% straight line basis
Motor vehicles	25% reducing balance basis
Computer equipment	15% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

System Hygiene Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

System Hygiene Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

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.

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.

Employee Benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 45 (2023 - 47).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2023	286,800	286,800
At 31 August 2024	286,800	286,800
Amortisation
At 1 September 2023	286,800	286,800
At 31 August 2024	286,800	286,800
Carrying amount
At 31 August 2024	-	-

System Hygiene Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

5	Tangible assets

	Freehold land and buildings £	Fixtures and equipment £	Motor vehicles  £	Computer equipment £
Cost or valuation
At 1 September 2023	532,145	121,779	538,244	137,850
Additions	-	48,533	426,371	-
Disposals	-	-	(175,191)	-
At 31 August 2024	532,145	170,312	789,424	137,850
Depreciation
At 1 September 2023	262,613	116,106	294,218	133,967
Charge for the year	10,643	8,131	71,075	582
Eliminated on disposal	-	-	(103,603)	-
At 31 August 2024	273,256	124,237	261,690	134,549
Carrying amount
At 31 August 2024	258,889	46,075	527,734	3,301
At 31 August 2023	269,532	5,673	244,026	3,883

	Total £
Cost or valuation
At 1 September 2023	1,330,018
Additions	474,904
Disposals	(175,191)
At 31 August 2024	1,629,731
Depreciation
At 1 September 2023	806,904
Charge for the year	90,431
Eliminated on disposal	(103,603)
At 31 August 2024	793,732
Carrying amount
At 31 August 2024	835,999
At 31 August 2023	523,114

Hire Purchase Contracts

Included within the net book value of tangible fixed assets is £252,497 (2023 - £Nil) in respect of assets held under hire purchase contracts. Depreciation for the year on these assets was £Nil (2023 - £Nil).

System Hygiene Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

6	Other financial assets (current and non-current)

	Other investments £	Total £
Non-current financial assets
Cost or valuation
At 1 September 2023	405,508	405,508
Fair value adjustments	36,227	36,227
Additions	19,370	19,370
Disposals	(6,634)	(6,634)
At 31 August 2024	454,471	454,471
Carrying amount
At 31 August 2024	454,471	454,471

Other investments are valued on a market value basis as per the portfolio valuation.

7

Stocks

	2024 £	2023 £
Other inventories	702,481	780,423

8

Debtors

Current	2024 £	2023 £
Trade debtors	734,075	804,460
Prepayments	56,773	48,326
	790,848	852,786

System Hygiene Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

9

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	11	77,063	-
Trade creditors		639,489	637,971
Taxation and social security		296,067	318,334
Accruals and deferred income		43,096	33,058
Other creditors		123	199
		1,055,838	989,562