Registration number:
Crisp Clean Services Limited
for the Year Ended 31 October 2024
Crisp Clean Services Limited
(Registration number: 02673785)
Balance Sheet as at 31 October 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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2,000 |
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Profit and loss account |
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979,601 |
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Total equity |
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981,601 |
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.
Approved and authorised by the
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Crisp Clean Services Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard appicable in the UK and Republic of Ireland'.
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.
The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.
Going concern
These accounts have been prepared on a going concern basis. Results for the year were disappointing. However, sales in the first month since the year end were up considerably on the prior year and cashflow has improved as a result. The directors consider that the strong orders going forward, price increases and good continuing relationships with key customers and suppliers will see improved results going forward. These expected improved results, mean that the directors consider there to be no material uncertainties relating to going concern and the going concern basis is therefore appropriate.
Audit opinion
Crisp Clean Services Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
Key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The estimates and assumptions which are considered to have a significant risk of causing a material adjustment to the carrying amount of assets arise in respect of the stock provision applied to stock, which management are of the opinion is appropriate. The value of the stock provision at the year end is £97,117 (2023 - £97,269).
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.
Government grants
Government grants are recognised at fair value when there is reasonable assurance that the Company will comply with the conditions attaching to them and that the grants will be received. Grants related to the purchase of assets are treated as deferred income and allocated to the income statement over the useful lives of the related assets while grants related to expenses are treated as other income in the income statement.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
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.
Crisp Clean Services Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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:
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Asset class |
Depreciation method and rate |
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Leasehold improvements |
Straight line over the expected life of the lease |
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Office equipment |
30% reducing balance |
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Plant and machinery |
5-15% reducing balance |
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Fixtures and fittings |
15% reducing balance |
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Motor vehicles |
25% reducing balance |
Development costs
Expenditure on research and development is recognised as an expense in the year in which it is incurred with the exception of expenditure on the development of products where the outcome of these products is assessed as being reasonably certain as regards to economic viability and technical feasibility. Such expenditure is recognised as an intangible asset and amortised to administrative expenses on a straight line basis over the useful economic life once the related product or enhancement is available for use.
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 stocks 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.
Crisp Clean Services Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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.
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.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Crisp Clean Services Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Crisp Clean Services Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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Tangible assets |
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Leasehold improvements |
Office equipment |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 November 2023 |
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Additions |
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- |
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- |
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Disposals |
- |
( |
- |
- |
- |
( |
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At 31 October 2024 |
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Depreciation |
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At 1 November 2023 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
- |
- |
- |
( |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Stocks |
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2024 |
2023 |
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Raw materials and consumables |
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Work in progress |
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Finished goods |
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Crisp Clean Services Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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Creditors |
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Due within one year |
Note |
2024 |
2023 |
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Loans and borrowings |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Accruals |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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2,000 |
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2,000 |
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Bank overdrafts |
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Finance lease liabilities |
- |
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The bank overdraft is secured by way of a fixed and floating charge over all assets of the company.
The finance lease liabilities are secured against tangible assets of the company to which they relate.
Crisp Clean Services Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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Dividends |
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2024 |
2023 |
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£ |
£ |
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Interim dividend of £ |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Crisp Clean Services Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
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2024 |
2023 |
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Remuneration |
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Other transactions with directors |
The directors have provided a limited guarantee totalling £300,000 plus interest in relation to bank liabilities.
Loans to related parties
Terms of loans to related parties
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2024 |
Total |
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At start of period |
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Advanced |
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Repaid |
( |
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At end of period |
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2023 |
Total |
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At start of period |
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Advanced |
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Repaid |
( |
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At end of period |
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