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Registered number: 11590421 Cirka Services Limited Unaudited Financial statements Information for filing with the registrar For the year ended 30 June 2024
Cirka Services Limited Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Cirka Services Limited for the year ended 30 June 2024 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cirka Services Limited for the year ended 30 June 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation. This report is made solely to the director of Cirka Services Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Cirka Services Limited and state those matters that we have agreed to state to the director of Cirka Services Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cirka Services Limited and its director for our work or for this report. It is your duty to ensure that Cirka Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cirka Services Limited. You consider that Cirka Services Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of Cirka Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. Kreston Reeves LLP Chartered Accountants 2nd Floor 168 Shoreditch High Street London E1 6RA 19 June 2025 Page 1
Cirka Services Limited Registered number: 11590421 Balance sheet As at 30 June 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 5,074 |  | -
|  |  | 5,074 |  | -
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 86,062 |  | 112,542 |
Cash at bank and in hand | 6 | 52,869 |  | 44,584 |
|  | 138,931 |  | 157,126 |
Creditors: amounts falling due within one year | 7 | (794,196) |  | (631,906) |
Net current liabilities |  |  | (655,265) |  | (474,780)
Total assets less current liabilities |  |  | (650,191) |  | (474,780)
Creditors: amounts falling due after more than one year | 8 |  | (13,211) |  | (21,770)
Net liabilities |  |  | (663,402) |  | (496,550)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (663,502) |  | (496,650)
|  |  | (663,402) |  | (496,550)
Page 2
Cirka Services Limited Registered number: 11590421 Balance sheet (continued) As at 30 June 2024 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Matthew Bond
Director
Date: 19 June 2025
The notes on pages 4 to 8 form part of these financial statements. Page 3
Cirka Services Limited Notes to the financial statements For the year ended 30 June 2024
1. | General information
Cirka Services Limited (“the company”) is a private company limited by shares and was incorporated in England with the registration number 11590421. The address of the registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA. The principal activity of the company is that of specialised cleaning services. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The accounts have been prepared on a going concern basis despite the company reporting net liabilities of £505,402 (2023: £496,550) at 30 June 2024. The company is reliant upon the continued financial support of its ultimate parent company, Cirka Group Holdings Pty Limited.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.5 | Debtors
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. Page 4
Cirka Services Limited Notes to the financial statements For the year ended 30 June 2024 2.Accounting policies (continued)
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.7 | Creditors
Short term creditors are measured at the transaction price.
| 2.8 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.9 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
| 2.10 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.11 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 5
Cirka Services Limited Notes to the financial statements For the year ended 30 June 2024 2.Accounting policies (continued)
| 2.11 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% |
|  |  |  | Office equipment | - | 25% |
|  |  |  | Computer equipment | - | 25% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.12 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.13 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
3. | Employees
| The average monthly number of employees, including directors, during the year was 81 (2023 - 14).
4. | Tangible fixed assets
|  | Plant and machinery | Office equipment | Computer equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| Additions | 405 | 39 | 4,630 | 5,074
| At 30 June 2024 | 405 | 39 | 4,630 | 5,074
| Net book value |  |  |  |
| At 30 June 2024 | 405 | 39 | 4,630 | 5,074
| At 30 June 2023 | - | - | - | -
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Cirka Services Limited Notes to the financial statements For the year ended 30 June 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 69,893 | 112,542
| Other debtors | 1,700 | -
| Prepayments and accrued income | 14,469 | -
|  | 86,062 | 112,542
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 52,869 | 44,584
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 7,919 | 7,879
| Trade creditors | 43,981 | -
| Amounts owed to group undertakings | 672,383 | 499,906
| Other taxation and social security | 43,026 | 42,825
| Other creditors | 906 | -
| Accruals and deferred income | 25,981 | 81,296
|  | 794,196 | 631,906
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 13,211 | 21,770
| The company has a Bounce Back Loan of £40,000 to assist with its working capital requirements. The loan is repayable over 6 years and has an interest rate of 2.5%.
Page 7
Cirka Services Limited Notes to the financial statements For the year ended 30 June 2024
9. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 7,919 | 7,879
| Amounts falling due 1-2 years |  |
| Bank loans | 8,283 | 8,079
| Amounts falling due 2-5 years |  |
| Bank loans | 4,928 | 13,691
|  | 21,130 | 29,649
10. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £5,725 (2023: £4,737). Contributions totalling £Nil (2023: £Nil) were payable to the fund at the balance sheet date and are included in Creditors.
11. | Commitments under operating leases
| At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Not later than 1 year | 12,000 | -
|  | 12,000 | -
12. | Related party transactions
| During the year, Cirka Services Pty Limited, the ultimate parent company, made loans and paid expenses totalling £211,894 (2023: £190,317) on behalf of the company. The amount due to Cirka Services Pty Limited at 30 June 2024 was £672,383 (2023: £499,906) which is included within Creditors.
13. | Controlling party
The company is under the control of Cirka Services Holdings Limited. The company considers Cirka Group Holdings Pty Limited, a company incorporated in Australia, to be the ultimate parent company.
Page 8