Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| Investments | 4 |
|
|
|
| 220,239 | 248,763 | |||
| Current assets | ||||
| Debtors | 5 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 754,310 | 835,757 | |||
| Creditors: amounts falling due within one year | 6 | (
|
(
|
|
| Net current liabilities | (131,223) | (163,897) | ||
| Total assets less current liabilities | 89,016 | 84,866 | ||
| Creditors: amounts falling due after more than one year | 7 | (
|
(
|
|
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital | 8 |
|
|
|
| Profit and loss account |
|
|
||
| Total shareholder's funds |
|
|
Directors' responsibilities:
The financial statements of First Choice Cleaning & Maintenance Limited (registered number:
|
M Chapman
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
First Choice Cleaning & Maintenance Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Leasehold improvements | depreciated over the life of the lease |
| Plant and machinery |
|
| Vehicles |
|
| Other property, plant and equipment |
|
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
|
|
| Leasehold improve- ments |
Plant and machinery | Vehicles | Other property, plant and equipment |
Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 October 2024 |
|
|
|
|
|
||||
| Additions |
|
|
|
|
|
||||
| Disposals |
|
|
(
|
|
(
|
||||
| At 30 September 2025 |
|
|
|
|
|
||||
| Accumulated depreciation | |||||||||
| At 01 October 2024 |
|
|
|
|
|
||||
| Charge for the financial year |
|
|
|
|
|
||||
| Disposals |
|
|
(
|
|
(
|
||||
| At 30 September 2025 |
|
|
|
|
|
||||
| Net book value | |||||||||
| At 30 September 2025 | 70,139 | 12,501 | 131,431 | 6,164 | 220,235 | ||||
| At 30 September 2024 | 140,721 | 20,533 | 80,498 | 7,007 | 248,759 | ||||
| Leased assets included above: | |||||||||
| Net book value | |||||||||
| At 30 September 2025 | 0 | 0 | 114,410 | 0 | 114,410 | ||||
| At 30 September 2024 | 0 | 0 | 76,565 | 0 | 76,565 |
Investments in subsidiaries
| 2025 | |
| £ | |
| Cost | |
| At 01 October 2024 |
|
| At 30 September 2025 |
|
| Carrying value at 30 September 2025 |
|
| Carrying value at 30 September 2024 |
|
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Trade creditors |
|
|
|
| Amounts owed to Group undertakings |
|
|
|
| Taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
Included within creditors is £188,287 (2024: £328,708 ) of factored debts outstanding at the balance sheet date and are secured over the trade debtors of the company.
| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans |
|
|
|
| Obligations under finance leases and hire purchase contracts |
|
|
|
|
|
|
| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
The company has taken advantage of the exemption available in FRS 102 "Related party disclosures" whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
Lessee
| 2025 | 2024 | ||
| £ | £ | ||
| 36,000 | 36,000 |
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases.