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Registered number: 07736107
Ashfield Cleaning Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Gregory Priestley & Stewart
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mr Darren Keightley
Mrs Sally Keightley
Company Number 07736107
Registered Office 123 Priestsic Road
Sutton-In-Ashfield
Nottinghamshire
NG17 4EA
Accountants Gregory Priestley & Stewart
Chartered Accountants
Alexandra House
123 Priestsic Road
Sutton In Ashfield
Nottinghamshire
NG17 4EA
Page 1
Page 2
Statement of Financial Position
Registered number: 07736107
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,501 6,922
4,501 6,922
CURRENT ASSETS
Stocks 5 12,237 8,184
Debtors 6 39,784 32,475
52,021 40,659
Creditors: Amounts Falling Due Within One Year 7 (86,715 ) (85,842 )
NET CURRENT ASSETS (LIABILITIES) (34,694 ) (45,183 )
TOTAL ASSETS LESS CURRENT LIABILITIES (30,193 ) (38,261 )
Creditors: Amounts Falling Due After More Than One Year 8 (18,449 ) (21,784 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,125 ) (1,318 )
NET LIABILITIES (49,767 ) (61,363 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement (49,867 ) (61,463 )
SHAREHOLDERS' FUNDS (49,767) (61,363)
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Darren Keightley
Director
09/04/2025
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ashfield Cleaning Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07736107 . The registered office is 123 Priestsic Road, Sutton-In-Ashfield, Nottinghamshire, NG17 4EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Going Concern Disclosure
The accounts have been prepared on a going concern basis. This may not be appropriate because the company had a balance sheet deficit of £49,767 at 31st August 2024 (2023 : £61,363). The company is therefore dependant on the continued support of the director. Should this support be withdrawn and the company be unable to continue trading, adjustments would have to be made to reduce the value of the assets to their net realisable value and to provide any further liabilities which may arise.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
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2.7. Taxation
The Taxation represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
2.9. Debtors and creditors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2023: 28)
30 28
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 6,570 9,653 16,223
As at 31 August 2024 6,570 9,653 16,223
Depreciation
As at 1 September 2023 3,314 5,987 9,301
Provided during the period 1,178 1,243 2,421
As at 31 August 2024 4,492 7,230 11,722
Net Book Value
As at 31 August 2024 2,078 2,423 4,501
As at 1 September 2023 3,256 3,666 6,922
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5. Stocks
2024 2023
£ £
Work in progress 12,237 8,184
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 28,216 29,546
Other debtors 11,568 2,929
39,784 32,475
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 6,108 4,232
Bank loans and overdrafts 18,958 13,683
Other creditors 47,211 45,251
Taxation and social security 14,438 22,676
86,715 85,842
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 18,449 21,784
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
At the balance sheet date, the directors were owed £23,444 (2023: £28,759) by the company.
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