REGISTERED NUMBER: 00054426 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

FAVERSHAM LAUNDRY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R S Cope

Ms E E Knox

Mr N G Turner

SECRETARY:

Mr R S Cope

REGISTERED OFFICE:

29 Ashford Road

Faversham

Kent

ME13 8XN

REGISTERED NUMBER:

00054426 (England and Wales)

ACCOUNTANTS:

Robsons Accountants

19 Montpelier Avenue

Bexley

Kent

DA5 3AP

FIXED ASSETS

Tangible assets

4

2,839,822

3,098,260

CURRENT ASSETS

Stocks

111,766

116,916

Debtors

5

857,589

869,994

Cash at bank and in hand

581,468

357,865

1,550,823

1,344,775

CREDITORS

Amounts falling due within one year

6

(751,900

)

(721,689

)

NET CURRENT ASSETS

798,923

623,086

TOTAL ASSETS LESS CURRENT LIABILITIES

3,638,745

3,721,346

CREDITORS

Amounts falling due after more than one year

7

(429,366

)

(488,159

)

PROVISIONS FOR LIABILITIES

(296,756

)

(260,761

)

NET ASSETS

2,912,623

2,972,426

CAPITAL AND RESERVES

Called up share capital

12,000

12,000

Retained earnings

2,900,623

2,960,426

SHAREHOLDERS' FUNDS

2,912,623

2,972,426

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2025 and were signed on its behalf by:

Mr R S Cope - Director

Ms E E Knox - Director

1.	STATUTORY INFORMATION

Faversham Laundry Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The turnover shown in the profit and loss account is recognised at the point of service and represents linen laundering, rental and workwear services invoiced during the accounting period and are exclusive of Valued Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

10% on cost and 2% on cost

Large contract workwear

-

33% on cost

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost and 20% on cost

Stocks

Stock is comprised of chemicals and various linen items used by the company for its core business of the provision of laundry services and linen hire. Purchased linen items are included in stock and written down over the shorter of their contract life or estimated useful life, which ranges from 1-3 years.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 101 (2024 - 100 ) .

4.	TANGIBLE FIXED ASSETS

Large

Freehold

contract

Plant and

property

workwear

machinery

£

£

£

COST

At 1 April 2024

2,100,884

321,609

3,910,098

Additions

-

-

-

Disposals

-

-

-

At 31 March 2025

2,100,884

321,609

3,910,098

DEPRECIATION

At 1 April 2024

405,868

299,811

2,773,490

Charge for year

42,219

11,760

238,040

Eliminated on disposal

-

-

-

At 31 March 2025

448,087

311,571

3,011,530

NET BOOK VALUE

At 31 March 2025

1,652,797

10,038

898,568

At 31 March 2024

1,695,016

21,798

1,136,608

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

16,211

587,576

116,975

7,053,353

Additions

-

147,243

-

147,243

Disposals

-

(109,873

)

-

(109,873

)

At 31 March 2025

16,211

624,946

116,975

7,090,723

DEPRECIATION

At 1 April 2024

12,777

347,831

115,316

3,955,093

Charge for year

1,288

79,419

1,659

374,385

Eliminated on disposal

-

(78,577

)

-

(78,577

)

At 31 March 2025

14,065

348,673

116,975

4,250,901

NET BOOK VALUE

At 31 March 2025

2,146

276,273

-

2,839,822

At 31 March 2024

3,434

239,745

1,659

3,098,260

Included in cost of land and buildings is freehold land of £ 131,250 (2024 - £ 131,250 ) which is not depreciated.

The net book value of tangible fixed assets includes £121,883 (2024 - £108,775 ) in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £40,628 (2024 - £32,339 ) for the year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

791,966

803,240

Prepayments

65,623

66,754

857,589

869,994

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

36,000

24,000

Hire purchase contracts

65,686

41,802

Trade creditors

138,250

249,837

Tax

109,893

38,586

Social security and other taxes

38,886

31,687

VAT

145,962

135,407

Other creditors

9,861

9,561

Directors' current accounts

57,827

51,297

Accrued expenses

149,535

139,512

751,900

721,689

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

36,000

24,000

Bank loans - 2-5 years

108,000

72,000

Bank loans more 5 yr by instal

244,056

339,956

Hire purchase contracts

41,310

52,203

429,366

488,159

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

244,056

339,956

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

424,056

459,956

Hire Purchase

106,996

94,005

531,052

553,961

The bank overdraft is secured by an unscheduled mortgage debenture incorporating a fixed and floating charge over all current and future assets of the company.

The bank loan is secured by a first legal charge on the freehold property 29 Ashford Road, Faversham, Kent and its associated assets.

The loans in respect of the hire purchase agreements are secured against the assets to which they relate.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr R S Cope

Balance outstanding at start of year

(33,905

)

(34,490

)

Amounts advanced

90,440

100,125

Amounts repaid

(99,540

)

(99,540

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(43,005

)

(33,905

)

Mr N G Turner

Balance outstanding at start of year

(700

)

(546

)

Amounts advanced

3,994

1,204

Amounts repaid

(3,365

)

(1,358

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(71

)

(700

)

Ms E E Knox

Balance outstanding at start of year

(16,692

)

(16,465

)

Amounts advanced

25,468

23,300

Amounts repaid

(23,528

)

(23,527

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(14,752

)

(16,692

)

The loans are unsecured, interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

Interim dividends per share were paid during the year to the director's as follows:

Ordinary A £1 - 6 April 2024 £9.34375

Ordinary B £1 - 6 April 2024 £9.45312

The total distribution of dividends for the year ended 31 March 2025 will be £112,387

11.	POST BALANCE SHEET EVENTS

DIVIDENDS:

Since the year end the company has declared dividends of £112,387.

FACTORY FIRE:

Subsequent to the balance sheet date, in late May 2025, a major fire occurred at the company's production facility in Faversham, resulting in a temporary interruption to in-house processing operations. In order to maintain continuity of service, the company has implemented contingency arrangements by outsourcing production to third-party laundries. As a result, customer collections and deliveries have continued with minimal disruption.

The company has lodged insurance claims in respect of business interruption costs, replacement of damaged machinery, and repairs to the building. Interim payments have been received, ensuring the ongoing viability of the business during the restoration period. As the event occurred after the year end, no adjustment has been made to the financial statements in accordance with FRS 102 Section 32.

The facility is expected to be fully reinstated and returned to normal operational capacity by mid-January 2026.

12.	CONTROLLING PARTY

The controlling party is Mr R S Cope.