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REGISTERED NUMBER: 04636452 (England and Wales)








Unaudited Financial Statements

for the Year Ended

30 June 2024

for

Industrial Washing Machines Limited

Industrial Washing Machines Limited (Registered number: 04636452)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Industrial Washing Machines Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P D Hollier
C E Hollier





SECRETARY: C E Hollier





REGISTERED OFFICE: Unit 2
Facet Road
Kings Norton
Birmingham
West Midlands
B38 9PT





REGISTERED NUMBER: 04636452 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Industrial Washing Machines Limited (Registered number: 04636452)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 22,724
Tangible assets 5 146,430 136,365
146,430 159,089

CURRENT ASSETS
Stocks 6 632,451 662,731
Debtors 7 879,641 796,138
Cash at bank and in hand 979,483 849,944
2,491,575 2,308,813
CREDITORS
Amounts falling due within one year 8 1,734,623 1,977,286
NET CURRENT ASSETS 756,952 331,527
TOTAL ASSETS LESS CURRENT
LIABILITIES

903,382

490,616

PROVISIONS FOR LIABILITIES (35,882 ) -

ACCRUALS AND DEFERRED INCOME (500 ) (3,996 )
NET ASSETS 867,000 486,620

CAPITAL AND RESERVES
Called up share capital 333,333 333,333
Retained earnings 533,667 153,287
SHAREHOLDERS' FUNDS 867,000 486,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Industrial Washing Machines Limited (Registered number: 04636452)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:




C E Hollier - Director



P D Hollier - Director


Industrial Washing Machines Limited (Registered number: 04636452)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Industrial Washing Machines Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has been transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.Contract revenue is recognised when the work has been completed according to the terms of the contract.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of seven years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 15% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Industrial Washing Machines Limited (Registered number: 04636452)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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.

Deferred government grants
Deferred government grants in respect of capital expenditure are treated as deferred income and are released to the profit and loss account over the estimated life of the assets to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 772,798
AMORTISATION
At 1 July 2023 750,074
Charge for year 22,724
At 30 June 2024 772,798
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 22,724

Industrial Washing Machines Limited (Registered number: 04636452)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 353,337 143,988 36,430 103,602 637,357
Additions 39,583 650 - 14,308 54,541
Disposals - - (16,800 ) - (16,800 )
At 30 June 2024 392,920 144,638 19,630 117,910 675,098
DEPRECIATION
At 1 July 2023 270,933 142,595 36,429 51,035 500,992
Charge for year 31,883 392 - 12,201 44,476
Eliminated on disposal - - (16,800 ) - (16,800 )
At 30 June 2024 302,816 142,987 19,629 63,236 528,668
NET BOOK VALUE
At 30 June 2024 90,104 1,651 1 54,674 146,430
At 30 June 2023 82,404 1,393 1 52,567 136,365

6. STOCKS
2024 2023
£    £   
Stocks 905,333 906,932
Payments on account (272,882 ) (244,201 )
632,451 662,731

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 827,695 693,676
Other debtors 51,946 102,462
879,641 796,138

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 655,600 670,314
Amounts owed to group undertakings 152,693 184,157
Taxation and social security 106,248 32,381
Other creditors 820,082 1,090,434
1,734,623 1,977,286

9. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies at the year end was £13,956.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is IWM Holdings Limited who have a registered office address of Unit 2 Facet Road, Kings Norton. Birmingham, West Midlands B38 9PT.