IPA Cleaning & Hygiene Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

IPA Cleaning & Hygiene Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08699555 . The registered office is Office 8 No. 11 Riverside, Riverside Park, Farnham, Surrey, GU9 7UG.

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. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Rent receivable represents rent recharged on an accruals basis.

Sundry income represents van leasing income charged on daily rates.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development costs 20% Straight Line

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Motor Vehicles	33.33% Straight Line
Fixtures & Fittings	33.33% Straight Line
Computer Equipment	33.33% Straight Line

2.5. Leasing and Hire Purchase Contracts

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation.Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to

achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

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IPA Cleaning & Hygiene Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 December 2024

2.6. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs,which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

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 payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.9. Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

2.10. Cash and cash equivalent

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.

2.11. Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 23 (2023: 14)

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IPA Cleaning & Hygiene Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 December 2024

4. Intangible Assets

	Development Costs
	£
Cost
As at 31 December 2023	30,379
Additions	4,775

As at 30 December 2024	35,154

Amortisation
As at 31 December 2023	24,715
Provided during the period	4,530

As at 30 December 2024	29,245

Net Book Value
As at 30 December 2024	5,909

As at 31 December 2023	5,664

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 31 December 2023	403,910	74,248	42,517	520,675
Additions	57,891	2,808	10,682	71,381
Disposals	(29,696 )	-	-	(29,696 )

As at 30 December 2024	432,105	77,056	53,199	562,360

Depreciation
As at 31 December 2023	186,689	59,077	31,422	277,188
Provided during the period	114,614	11,129	8,150	133,893
Disposals	(29,157 )	-	-	(29,157 )

As at 30 December 2024	272,146	70,206	39,572	381,924

Net Book Value
As at 30 December 2024	159,959	6,850	13,627	180,436

As at 31 December 2023	217,221	15,171	11,095	243,487

6. Stocks

	2024	2023
	£	£
Stock	474,435	310,888

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IPA Cleaning & Hygiene Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 December 2024

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	1,086,867	544,642
Prepayments and accrued income	29,815	25,138
Other debtors	68,525	185,743
Directors' loan accounts	-	170

	1,185,207	755,693

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	79,487	77,621
Trade creditors	1,472,797	805,021
Bank loans and overdrafts	48,546	51,881
Corporation tax	11,373	-
Other taxes and social security	20,527	15,035
VAT Liability	70,213	43,836
Pension	2,377	1,736
Accruals and deferred income	4,204	34,061

	1,709,524	1,029,191

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

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	66,063	100,897
Bank loans	14,000	56,000

	80,063	156,897

10. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	79,487	77,621
Later than one year and not later than five years	66,063	100,897

	145,550	178,518

	145,550	178,518

11. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

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IPA Cleaning & Hygiene Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 December 2024

12. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions of £2,377 (2023: £1,736) were payable at the balance sheet date.

13. Reserves

Capital redemption reserve - records the nominal value of shares repurchased by the company.

Profit and loss account - includes all current and prior period retained profits and losses.

14. Related Party Transactions

At the Balance Sheet date the company was owed Nil (2023: £170) from the directors.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		5,909		5,664
Tangible Assets	5		180,436		243,487

			186,345		249,151
CURRENT ASSETS
Stocks	6	474,435		310,888
Debtors	7	1,185,207		755,693
Cash at bank and in hand		399,478		175,275

		2,059,120		1,241,856
Creditors: Amounts Falling Due Within One Year	8	(1,709,524 )		(1,029,191 )

NET CURRENT ASSETS (LIABILITIES)			349,596		212,665

TOTAL ASSETS LESS CURRENT LIABILITIES			535,941		461,816

Creditors: Amounts Falling Due After More Than One Year	9		(80,063 )		(156,897 )

NET ASSETS			455,878		304,919

CAPITAL AND RESERVES
Called up share capital	11		100		100
Capital redemption reserve			5		5
Profit and Loss Account			455,773		304,814

SHAREHOLDERS' FUNDS			455,878		304,919