Company registration number 04867919 (England and Wales)
EDWARDS COMMERCIAL CLEANING SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
EDWARDS COMMERCIAL CLEANING SERVICES LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
EDWARDS COMMERCIAL CLEANING SERVICES LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
9,950
12,438
Tangible assets
4
13,402
18,109
23,352
30,547
Current assets
Stocks
5
7,500
7,500
Debtors
6
737,201
696,170
Cash at bank and in hand
55,632
131,375
800,333
835,045
Creditors: amounts falling due within one year
7
(453,646)
(452,402)
Net current assets
346,687
382,643
Total assets less current liabilities
370,039
413,190
Creditors: amounts falling due after more than one year
8
(9,830)
(20,718)
Provisions for liabilities
(5,682)
(4,486)
Net assets
354,527
387,986
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
354,525
387,984
Total equity
354,527
387,986

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

EDWARDS COMMERCIAL CLEANING SERVICES LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 February 2025 and are signed on its behalf by:
H Edwards
Director
Company Registration No. 04867919
EDWARDS COMMERCIAL CLEANING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

Edwards Commercial Cleaning Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is John Buddle Work Village, Buddle Road, Newcastle upon Tyne, NE4 8AW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

App development
20% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33% straight line
Fixtures and fittings
20% straight line
Office equipment
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

EDWARDS COMMERCIAL CLEANING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

EDWARDS COMMERCIAL CLEANING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
272
321
EDWARDS COMMERCIAL CLEANING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
3
Intangible fixed assets
Other
£
Cost
At 1 September 2023 and 31 August 2024
12,438
Amortisation and impairment
At 1 September 2023
-
0
Amortisation charged for the year
2,488
At 31 August 2024
2,488
Carrying amount
At 31 August 2024
9,950
At 31 August 2023
12,438
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Office equipment
Total
£
£
£
£
Cost
At 1 September 2023
36,587
602
7,732
44,921
Additions
4,416
-
0
-
0
4,416
At 31 August 2024
41,003
602
7,732
49,337
Depreciation and impairment
At 1 September 2023
23,531
602
2,679
26,812
Depreciation charged in the year
7,577
-
0
1,546
9,123
At 31 August 2024
31,108
602
4,225
35,935
Carrying amount
At 31 August 2024
9,895
-
0
3,507
13,402
At 31 August 2023
13,056
-
0
5,053
18,109
5
Stocks
2024
2023
£
£
Materials and consumables
7,500
7,500
EDWARDS COMMERCIAL CLEANING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
618,825
576,919
Other debtors
111,079
117,587
Prepayments and accrued income
7,297
1,664
737,201
696,170

Included within other debtors is amounts owed from Directors of £111,079 (2023: £117,587). Refer to note 12.

7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9
10,389
10,056
Trade creditors
88,191
87,600
Amounts owed to undertakings in which the company has a participating interest
14,434
15,327
Corporation tax
29,708
14,187
Other taxation and social security
247,635
253,771
Other creditors
6,296
14,806
Accruals and deferred income
56,993
56,655
453,646
452,402
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans
9
7,830
18,218
Government grants
2,000
2,500
9,830
20,718
9
Loans
2024
2023
£
£
Bank loans
18,219
28,274
Payable within one year
10,389
10,056
Payable after one year
7,830
18,218
EDWARDS COMMERCIAL CLEANING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
10
Financial commitments, guarantees and contingent liabilities

Included in the statement of financial position are unpaid pension contributions of £6,296 (2023: £14,806).

11
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Edwards Commercial Cleaning (North) Limited is related by common ownership and directorship.

2024
2023
Amounts due to related parties
£
£
Other related parties
14,434
15,327
12
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
P J Edwards - Directors loan account
2.50
117,587
109,768
1,311
(117,587)
111,079
117,587
109,768
1,311
(117,587)
111,079
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