22 false false false false false false false false false false true false false false false false false No description of principal activity 2023-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 30,000 30,000 821,975 42,644 864,619 583,139 69,169 1 652,309 212,310 238,836 xbrli:pure xbrli:shares iso4217:GBP 4584487 2023-12-01 2024-11-30 4584487 2024-11-30 4584487 2023-11-30 4584487 2022-12-01 2023-11-30 4584487 2023-11-30 4584487 2022-11-30 4584487 core:NetGoodwill 2023-12-01 2024-11-30 4584487 core:PlantMachinery 2023-12-01 2024-11-30 4584487 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 4584487 bus:Director1 2023-12-01 2024-11-30 4584487 bus:Director2 2023-12-01 2024-11-30 4584487 core:NetGoodwill 2024-11-30 4584487 core:PlantMachinery 2023-11-30 4584487 core:PlantMachinery 2024-11-30 4584487 core:WithinOneYear 2024-11-30 4584487 core:WithinOneYear 2023-11-30 4584487 core:AfterOneYear 2024-11-30 4584487 core:AfterOneYear 2023-11-30 4584487 core:ShareCapital 2024-11-30 4584487 core:ShareCapital 2023-11-30 4584487 core:RetainedEarningsAccumulatedLosses 2024-11-30 4584487 core:RetainedEarningsAccumulatedLosses 2023-11-30 4584487 core:PlantMachinery 2023-11-30 4584487 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2024-11-30 4584487 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-11-30 4584487 bus:SmallEntities 2023-12-01 2024-11-30 4584487 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 4584487 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 4584487 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 4584487 bus:FullAccounts 2023-12-01 2024-11-30 4584487 bus:OrdinaryShareClass1 2024-11-30 4584487 bus:OrdinaryShareClass1 2023-11-30
COMPANY REGISTRATION NUMBER: 4584487
Monarch Laundry (York) Limited
Filleted Unaudited Financial Statements
30 November 2024
Monarch Laundry (York) Limited
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
212,310
238,836
Current assets
Debtors
7
201,064
146,419
Cash at bank and in hand
470,795
343,654
---------
---------
671,859
490,073
Creditors: amounts falling due within one year
8
341,725
234,865
---------
---------
Net current assets
330,134
255,208
---------
---------
Total assets less current liabilities
542,444
494,044
Creditors: amounts falling due after more than one year
9
170,906
197,246
Provisions
Taxation including deferred tax
50,077
56,709
---------
---------
Net assets
321,461
240,089
---------
---------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
321,361
239,989
---------
---------
Shareholders funds
321,461
240,089
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Monarch Laundry (York) Limited
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 7 August 2025 , and are signed on behalf of the board by:
Mr P Maltby
Mrs J Maltby
Director
Director
Company registration number: 4584487
Monarch Laundry (York) Limited
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12A-16 North Street, Wetherby, LS22 6NN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2023: 22 ).
5. Intangible assets
Goodwill
£
Cost
At 1 December 2023 and 30 November 2024
30,000
--------
Amortisation
At 1 December 2023 and 30 November 2024
30,000
--------
Carrying amount
At 30 November 2024
--------
At 30 November 2023
--------
6. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 December 2023
821,975
821,975
Additions
42,644
42,644
---------
---------
At 30 November 2024
864,619
864,619
---------
---------
Depreciation
At 1 December 2023
583,139
583,139
Charge for the year
69,169
69,169
Disposals
1
1
---------
---------
At 30 November 2024
652,309
652,309
---------
---------
Carrying amount
At 30 November 2024
212,310
212,310
---------
---------
At 30 November 2023
238,836
238,836
---------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
£
At 30 November 2024
137,549
---------
At 30 November 2023
160,808
---------
7. Debtors
2024
2023
£
£
Trade debtors
201,064
146,419
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
20,000
20,000
Trade creditors
23,167
7,445
Corporation tax
87,288
41,025
Social security and other taxes
107,999
84,919
Other creditors
103,271
81,476
---------
---------
341,725
234,865
---------
---------
The loans in respect of the hire purchase agreements are secured against the assets to which they relate .
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
28,333
48,333
Other creditors
142,573
148,913
---------
---------
170,906
197,246
---------
---------
The loans in respect of the hire purchase agreements are secured against the assets to which they relate.
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----