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Registration number: 04613024

HEC Property Services Limited

trading as Minster Cleaning Services

Unaudited Filleted Financial Statements

for the Period from 1 October 2023 to 31 March 2025

 

HEC Property Services Limited

trading as Minster Cleaning Services

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

HEC Property Services Limited

trading as Minster Cleaning Services

Company Information

Directors

Mr Edward James Franklin Lofthouse

Mr Charles Philip Lofthouse

Registered office

824 Attercliffe Road
Sheffield
S9 3RS

Accountants

Upton & Co Accountants Limited
Chartered Certified Accountants
182 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

HEC Property Services Limited

trading as Minster Cleaning Services

(Registration number: 04613024)
Balance Sheet as at 31 March 2025

Note

2025
£

2023
£

Fixed assets

 

Intangible assets

4

22,750

28,000

Tangible assets

5

104,592

83,722

 

127,342

111,722

Current assets

 

Stocks

6

7,500

7,500

Debtors

7

426,976

409,520

Cash at bank and in hand

 

191,111

274,379

 

625,587

691,399

Creditors: Amounts falling due within one year

8

(493,645)

(368,766)

Net current assets

 

131,942

322,633

Total assets less current liabilities

 

259,284

434,355

Creditors: Amounts falling due after more than one year

8

(8,953)

-

Net assets

 

250,331

434,355

Capital and reserves

 

Called up share capital

9

183

183

Retained earnings

250,148

434,172

Shareholders' funds

 

250,331

434,355

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

HEC Property Services Limited

trading as Minster Cleaning Services

(Registration number: 04613024)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 3 June 2025 and signed on its behalf by:
 

.........................................
Mr Edward James Franklin Lofthouse
Director

 

HEC Property Services Limited

trading as Minster Cleaning Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025

1

General information

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

The address of its registered office is:
824 Attercliffe Road
Sheffield
S9 3RS

These financial statements were authorised for issue by the Board on 3 June 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

HEC Property Services Limited

trading as Minster Cleaning Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025

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.

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

Motor Vehicles

25% Reducing Balance Basis

Plant & Machinery

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

10% 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.

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.

 

HEC Property Services Limited

trading as Minster Cleaning Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025

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.

 

HEC Property Services Limited

trading as Minster Cleaning Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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 directors) during the period, was 190 (2023 - 188).

 

HEC Property Services Limited

trading as Minster Cleaning Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

385,000

385,000

At 31 March 2025

385,000

385,000

Amortisation

At 1 October 2023

357,000

357,000

Amortisation charge

5,250

5,250

At 31 March 2025

362,250

362,250

Carrying amount

At 31 March 2025

22,750

22,750

At 30 September 2023

28,000

28,000

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

-

88,915

127,529

216,444

Additions

10,807

16,575

47,232

74,614

Disposals

-

-

(35,712)

(35,712)

At 31 March 2025

10,807

105,490

139,049

255,346

Depreciation

At 1 October 2023

-

58,669

74,053

132,722

Charge for the period

2,127

15,699

27,260

45,086

Eliminated on disposal

-

-

(27,054)

(27,054)

At 31 March 2025

2,127

74,368

74,259

150,754

Carrying amount

At 31 March 2025

8,680

31,122

64,790

104,592

At 30 September 2023

-

30,246

53,476

83,722

 

HEC Property Services Limited

trading as Minster Cleaning Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025

6

Stocks

2025
£

2023
£

Other inventories

7,500

7,500

7

Debtors

2025
£

2023
£

Trade debtors

416,743

407,508

Other debtors

493

600

Prepayments

9,740

1,412

426,976

409,520

 

HEC Property Services Limited

trading as Minster Cleaning Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2023
£

Due within one year

 

Loans and borrowings

10

10,744

833

Trade creditors

 

87,776

83,830

Taxation and social security

 

332,042

222,193

Accruals and deferred income

 

3,480

1,890

Other creditors

 

59,603

60,020

 

493,645

368,766

Creditors: amounts falling due after more than one year

Note

2025
£

2023
£

Due after one year

 

Loans and borrowings

10

8,953

-

9

Share capital

Allotted, called up and fully paid shares

2025

2023

No.

£

No.

£

Ordinary of £1 each

183

183

183

183

       

10

Loans and borrowings

Non-current loans and borrowings

2025
£

2023
£

Hire purchase contracts

8,953

-

Current loans and borrowings

2025
£

2023
£

Hire purchase contracts

10,744

833

 

HEC Property Services Limited

trading as Minster Cleaning Services

Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025

11

Dividends

Interim dividends paid

2025
£

2023
£

Interim dividend of £3,593.10 (2023 - £601.09) per each Ordinary

657,537

110,000

 

 

12

Related party transactions

Directors' remuneration

The directors' remuneration for the period was as follows:

2025
£

2023
£

Remuneration

13,698

9,095

Contributions paid to money purchase schemes

18,000

5,000

31,698

14,095