Saffron Walden Steam Laundry Company Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 00054073

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		192,442		203,912

			192,442		203,912
CURRENT ASSETS
Stocks	5	22,620		15,790
Debtors	6	219,456		243,382
Cash at bank and in hand		737		602

		242,813		259,774
Creditors: Amounts Falling Due Within One Year	7	(385,680 )		(360,751 )

NET CURRENT ASSETS (LIABILITIES)			(142,867 )		(100,977 )

TOTAL ASSETS LESS CURRENT LIABILITIES			49,575		102,935

Creditors: Amounts Falling Due After More Than One Year	8		(399,027 )		(422,304 )

NET LIABILITIES			(349,452 )		(319,369 )

CAPITAL AND RESERVES
Called up share capital	11		750		750
Share premium account			11		11
Profit and Loss Account			(350,213 )		(320,130 )

SHAREHOLDERS' FUNDS			(349,452)		(319,369)

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Saffron Walden Steam Laundry Company Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Stephen Griffiths

Director

15/09/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Saffron Walden Steam Laundry Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00054073 . The registered office is 17 Gold Street, Saffron Walden, Essex, CB10 1JD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

As at the balance sheet date the company had a net deficiency of assets. This position is expected to reverse in the forseeable future and has the full support of it's Director's. The financial statements are therefore prepared on the going concern basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold improvements	10% Reducing balance
Plant & Machinery	20% Reducing balance
Motor Vehicles	25% Reducing balance
Fixtures & Fittings	15% Reducing balance
Computer Equipment	33.3% Reducing balance

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Saffron Walden Steam Laundry Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 44 (2023: 44)

4. Tangible Assets

	Land & Property
	Leasehold improvements	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 January 2024	73,533	2,666,804	82,995	2,823,332
Additions	-	58,895	-	58,895

As at 31 December 2024	73,533	2,725,699	82,995	2,882,227

Depreciation
As at 1 January 2024	44,750	2,522,907	51,763	2,619,420
Provided during the period	2,878	59,679	7,808	70,365

As at 31 December 2024	47,628	2,582,586	59,571	2,689,785

Net Book Value
As at 31 December 2024	25,905	143,113	23,424	192,442

As at 1 January 2024	28,783	143,897	31,232	203,912

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Saffron Walden Steam Laundry Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Stocks

	2024	2023
	£	£
Finished goods	4,250	4,250
Work in progress	18,370	11,540

	22,620	15,790

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	183,983	174,323
Other debtors	35,473	69,059

	219,456	243,382

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	10,300	11,258
Trade creditors	111,499	136,289
Bank loans and overdrafts	57,206	51,066
Amounts owed to group undertakings	52,601	19,851
Other creditors	68,566	61,154
Taxation and social security	85,508	81,133

	385,680	360,751

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	3,139	12,481
Bank loans	360,656	374,827
Other creditors	35,232	34,996

	399,027	422,304

9. Secured Creditors

Of the creditors the following amounts are secured.

	2024		2023
	£		£
Bank loans and overdrafts	417,862		425,893

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Saffron Walden Steam Laundry Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	10,300	11,258
Later than one year and not later than five years	3,139	12,481

	13,439	23,739

	13,439	23,739

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	750	750

12. Pension Commitments

The company operates a defined contribution scheme for the directors and company secretary. The assets of the scheme are held separately from those of the company in a self administrated pension fund. No contributions were made during this or the previous year.

13. Related Party Transactions

Included in other debtors is an amount owed from Gold Streeet Laundry Limited, an associated company, of £0 (2023: £24,895). This relates to an interest free loan.

Incldued in other creditors is £11,618 (£0: 2023) owed to Gold Streeet Laundry Limited, an associated company, this being the amount outstanding on a loan that was received.

Included in trade creditors is an amount owed to Gold Street Laundry Limited, an associated company, in the sum of £80,640 (2023: £80,640), this relates to invoices outstanding for the rental of a machine owned by Gold Street Laundry Limited.

14. Controlling Party

The controlling interest is held by Mr S Griffiths who is the director.

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