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Registration number: 13622250

Cleaner Carpets (Devon) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Cleaner Carpets (Devon) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Cleaner Carpets (Devon) Ltd

Company Information

Director

Mr James Macnamara

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Cleaner Carpets (Devon) Ltd

(Registration number: 13622250)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

446,395

416,351

Investment property

5

338,063

338,063

 

784,458

754,414

Current assets

 

Stocks

6

4,000

6,000

Debtors

7

192,651

282,793

Cash at bank and in hand

 

153,889

67,087

 

350,540

355,880

Creditors: Amounts falling due within one year

8

(136,343)

(111,342)

Net current assets

 

214,197

244,538

Total assets less current liabilities

 

998,655

998,952

Creditors: Amounts falling due after more than one year

8

(296,570)

(416,280)

Provisions for liabilities

(42,890)

(51,534)

Net assets

 

659,195

531,138

Capital and reserves

 

Called up share capital

2

2

Retained earnings

659,193

531,136

Shareholders' funds

 

659,195

531,138

 

Cleaner Carpets (Devon) Ltd

(Registration number: 13622250)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 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.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 May 2025
 

.........................................
Mr James Macnamara
Director

 

Cleaner Carpets (Devon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

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.

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.

 

Cleaner Carpets (Devon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

Over 3 years

Motor vehicles

Over 5 years

Plant and machinery

Over 5 years

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

 

Cleaner Carpets (Devon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

 

Cleaner Carpets (Devon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 20 (2023 - 16).

 

Cleaner Carpets (Devon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

213,952

8,808

129,701

187,427

539,888

Additions

-

2,054

81,682

44,120

127,856

At 30 September 2024

213,952

10,862

211,383

231,547

667,744

Depreciation

At 1 October 2023

3,879

5,139

42,181

72,338

123,537

Charge for the year

5,879

3,347

42,277

46,309

97,812

At 30 September 2024

9,758

8,486

84,458

118,647

221,349

Carrying amount

At 30 September 2024

204,194

2,376

126,925

112,900

446,395

At 30 September 2023

210,073

3,669

87,520

115,089

416,351

Included within the net book value of land and buildings above is £186,194 (2023 - £190,073) in respect of freehold land and buildings and £18,000 (2023 - £20,000) in respect of short leasehold land and buildings.
 

5

Investment properties

2024
£

At 1 October

338,063

At 30 September

338,063

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Other stocks

4,000

6,000

 

Cleaner Carpets (Devon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Debtors

2024
£

2023
£

Trade debtors

148,905

145,502

Other debtors

28,206

92,577

Prepayments and accrued income

15,540

44,714

Total current trade and other debtors

192,651

282,793

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

37,041

31,286

Trade creditors

 

19,912

38,805

Taxation and social security

 

77,075

38,502

Other creditors

 

2,039

(1,197)

Accrued expenses

 

276

3,946

 

136,343

111,342

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

296,570

416,280

2024
£

2023
£

Due after more than five years

After more than five years by instalments

-

262,359

-

-

 

Cleaner Carpets (Devon) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

31,285

31,286

Hire purchase contracts

5,756

-

37,041

31,286

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

276,904

387,500

Hire purchase contracts

19,666

28,780

296,570

416,280

Included in the loans and borrowings are the following amounts due after more than five years:

2024
£

2023
£

After more than five years by instalments

-

262,359

10

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Interest free loan

2,788

87,525

(64,199)

26,113

 

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Interest free loan

52,330

11,051

(60,594)

2,788