IRIS Accounts Production v25.1.4.42 05481427 director 30.6.23 28.6.24 28.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054814272023-06-29054814272024-06-28054814272023-06-302024-06-28054814272022-06-30054814272022-07-012023-06-29054814272023-06-2905481427ns15:EnglandWales2023-06-302024-06-2805481427ns14:PoundSterling2023-06-302024-06-2805481427ns10:Director12023-06-302024-06-2805481427ns10:PrivateLimitedCompanyLtd2023-06-302024-06-2805481427ns10:SmallEntities2023-06-302024-06-2805481427ns10:AuditExempt-NoAccountantsReport2023-06-302024-06-2805481427ns10:SmallCompaniesRegimeForDirectorsReport2023-06-302024-06-2805481427ns10:SmallCompaniesRegimeForAccounts2023-06-302024-06-2805481427ns10:FullAccounts2023-06-302024-06-2805481427ns10:RegisteredOffice2023-06-302024-06-2805481427ns5:CurrentFinancialInstruments2024-06-2805481427ns5:CurrentFinancialInstruments2023-06-2905481427ns5:Non-currentFinancialInstruments2024-06-2805481427ns5:Non-currentFinancialInstruments2023-06-2905481427ns5:ShareCapital2024-06-2805481427ns5:ShareCapital2023-06-2905481427ns5:RetainedEarningsAccumulatedLosses2024-06-2805481427ns5:RetainedEarningsAccumulatedLosses2023-06-2905481427ns5:PlantMachinery2023-06-302024-06-2805481427ns5:MotorVehicles2023-06-302024-06-2805481427ns5:ComputerEquipment2023-06-302024-06-2805481427ns5:PlantMachinery2023-06-2905481427ns5:MotorVehicles2023-06-2905481427ns5:ComputerEquipment2023-06-2905481427ns5:PlantMachinery2024-06-2805481427ns5:MotorVehicles2024-06-2805481427ns5:ComputerEquipment2024-06-2805481427ns5:PlantMachinery2023-06-2905481427ns5:MotorVehicles2023-06-2905481427ns5:ComputerEquipment2023-06-2905481427ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-2805481427ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-29054814271ns10:Director12023-06-29054814271ns10:Director12022-06-30054814271ns10:Director12023-06-302024-06-28054814271ns10:Director12022-07-012023-06-29054814271ns10:Director12024-06-28054814271ns10:Director12023-06-29
REGISTERED NUMBER: 05481427 (England and Wales)








































Great North Laundry Company Ltd

Unaudited Financial Statements

for the period

30th June 2023 to 28th June 2024






Great North Laundry Company Ltd (Registered number: 05481427)






Contents of the Financial Statements
for the period 30th June 2023 to 28th June 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Great North Laundry Company Ltd

Company Information
for the period 30th June 2023 to 28th June 2024







Director: S M Burn





Registered office: 19b Kings Mount
Ramparts Business Park North Road
Berwick Upon Tweed
TD15 1TQ





Registered number: 05481427 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Great North Laundry Company Ltd (Registered number: 05481427)

Balance Sheet
28th June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 26,343 26,254

Current assets
Stocks 5,000 5,000
Debtors 5 44,333 50,245
Cash at bank and in hand 3,412 3,636
52,745 58,881
Creditors
Amounts falling due within one year 6 120,517 97,249
Net current liabilities (67,772 ) (38,368 )
Total assets less current liabilities (41,429 ) (12,114 )

Creditors
Amounts falling due after more than one
year

7

(17,902

)

(17,619

)

Provisions for liabilities - (1,684 )
Net liabilities (59,331 ) (31,417 )

Capital and reserves
Called up share capital 40,100 40,100
Retained earnings (99,431 ) (71,517 )
Shareholders' funds (59,331 ) (31,417 )

Great North Laundry Company Ltd (Registered number: 05481427)

Balance Sheet - continued
28th June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28th June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 28th June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th June 2025 and were signed by:





S M Burn - Director


Great North Laundry Company Ltd (Registered number: 05481427)

Notes to the Financial Statements
for the period 30th June 2023 to 28th June 2024

1. Statutory information

Great North Laundry Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank overdrafts, bank loans, hire purchase contracts and directors' loans.

Bank loans and hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors and bank overdrafts are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


Great North Laundry Company Ltd (Registered number: 05481427)

Notes to the Financial Statements - continued
for the period 30th June 2023 to 28th June 2024

2. Accounting policies - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the company. All other leases are classified as operating leases.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred.

Going concern
Due to a number of external factors the company is currently facing very challenging trading conditions. The company has a deficit on the balance sheet and relies on the support of its shareholders and creditors. The director is currently seeking advice on managing and possibly restructuring certain liabilities. Accordingly the financial statements have been prepared on the going concern basis.

Great North Laundry Company Ltd (Registered number: 05481427)

Notes to the Financial Statements - continued
for the period 30th June 2023 to 28th June 2024

3. Employees and directors

The average number of employees during the period was 6 (2023 - 7 ) .

4. Tangible fixed assets
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 30th June 2023 51,699 54,530 3,965 110,194
Additions - 10,833 - 10,833
Disposals - (41,780 ) - (41,780 )
At 28th June 2024 51,699 23,583 3,965 79,247
Depreciation
At 30th June 2023 40,946 40,702 2,292 83,940
Charge for period 2,151 4,688 702 7,541
Eliminated on disposal - (38,577 ) - (38,577 )
At 28th June 2024 43,097 6,813 2,994 52,904
Net book value
At 28th June 2024 8,602 16,770 971 26,343
At 29th June 2023 10,753 13,828 1,673 26,254

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 31,717 27,294
Other debtors 12,616 22,951
44,333 50,245

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 6,186 4,449
Hire purchase contracts 4,598 1,954
Trade creditors 686 83
Taxation and social security 102,718 90,222
Other creditors 6,329 541
120,517 97,249

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 4,330 8,286
Hire purchase contracts 13,572 9,333
17,902 17,619

Great North Laundry Company Ltd (Registered number: 05481427)

Notes to the Financial Statements - continued
for the period 30th June 2023 to 28th June 2024

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 18,170 11,287

Hire purchase contracts are secured against the assets to which they relate.

9. Other financial commitments

At 28th June 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £39,451 (2023 - £34,057).

10. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the periods ended 28th June 2024 and 29th June 2023:

2024 2023
£    £   
S M Burn
Balance outstanding at start of period 22,951 9,224
Amounts advanced 41,577 37,638
Amounts repaid (51,912 ) (23,911 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 12,616 22,951

This loan is unsecured, repayable on demand and interest has been charged at the official rates published by HMRC.