Lane Cleaning Services Limited 31/05/2023 iXBRL

Lane Cleaning Services Limited 31/05/2023 iXBRL

LANE CLEANING SERVICES LIMITED - Company Information

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4 31/05/2023 2023-05-31 true false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-06-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06219619 2022-06-01 2023-05-31 06219619 2023-05-31 06219619 2022-05-31 06219619 2021-06-01 2022-05-31 06219619 2022-05-31 06219619 core:NetGoodwill 2022-06-01 2023-05-31 06219619 core:PlantMachinery 2022-06-01 2023-05-31 06219619 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 06219619 bus:RegisteredOffice 2022-06-01 2023-05-31 06219619 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 06219619 bus:LeadAgentIfApplicable 2022-06-01 2023-05-31 06219619 bus:Director1 2022-06-01 2023-05-31 06219619 bus:CompanySecretary1 2022-06-01 2023-05-31 06219619 core:NetGoodwill 2022-05-31 06219619 core:NetGoodwill 2023-05-31 06219619 core:PlantMachinery 2022-05-31 06219619 core:FurnitureFittingsToolsEquipment 2022-05-31 06219619 core:PlantMachinery 2023-05-31 06219619 core:FurnitureFittingsToolsEquipment 2023-05-31 06219619 core:WithinOneYear 2023-05-31 06219619 core:WithinOneYear 2022-05-31 06219619 core:ShareCapital 2023-05-31 06219619 core:ShareCapital 2022-05-31 06219619 core:RetainedEarningsAccumulatedLosses 2023-05-31 06219619 core:RetainedEarningsAccumulatedLosses 2022-05-31 06219619 bus:OrdinaryShareClass1 core:ShareCapital 2023-05-31 06219619 bus:OrdinaryShareClass1 core:ShareCapital 2022-05-31 06219619 core:NetGoodwill 2022-05-31 06219619 core:PlantMachinery 2022-05-31 06219619 core:FurnitureFittingsToolsEquipment 2022-05-31 06219619 bus:SmallEntities 2022-06-01 2023-05-31 06219619 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 06219619 bus:FullAccounts 2022-06-01 2023-05-31 06219619 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 06219619 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31
Company registration number: 06219619
Lane Cleaning Services Limited
Unaudited filleted financial statements
31 May 2023
Lane Cleaning Services Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Lane Cleaning Services Limited
Directors and other information
Director Anthony Lane
Secretary Amanda Neary
Company number 06219619
Registered office 33 Northumberland Way
Wythenshawe
Manchester
M22 4UG
Business address 33 Northumberland Way
Wythenshawe
Manchester
M22 4UG
Accountants Langers
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
Lane Cleaning Services Limited
Statement of financial position
31 May 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 7,350 8,400
Tangible assets 6 112,511 105,540
_______ _______
119,861 113,940
Current assets
Debtors 7 29,793 27,819
Cash at bank and in hand 281,199 277,911
_______ _______
310,992 305,730
Creditors: amounts falling due
within one year 8 ( 34,739) ( 61,897)
_______ _______
Net current assets 276,253 243,833
_______ _______
Total assets less current liabilities 396,114 357,773
Provisions for liabilities ( 22,502) ( 20,053)
_______ _______
Net assets 373,612 337,720
_______ _______
Capital and reserves
Called up share capital 9 2 2
Profit and loss account 373,610 337,718
_______ _______
Shareholders funds 373,612 337,720
_______ _______
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 06 July 2023 , and are signed on behalf of the board by:
Anthony Lane
Director
Company registration number: 06219619
Lane Cleaning Services Limited
Notes to the financial statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 33 Northumberland Way, Wythenshawe, Manchester, M22 4UG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
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 are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are 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.
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 in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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 in finance costs 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 4 (2022: 4 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 June 2022 and 31 May 2023 21,000 21,000
_______ _______
Amortisation
At 1 June 2022 12,600 12,600
Charge for the year 1,050 1,050
_______ _______
At 31 May 2023 13,650 13,650
_______ _______
Carrying amount
At 31 May 2023 7,350 7,350
_______ _______
At 31 May 2022 8,400 8,400
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 June 2022 236,134 1,523 237,657
Additions 65,250 - 65,250
Disposals ( 71,268) ( 80) ( 71,348)
_______ _______ _______
At 31 May 2023 230,116 1,443 231,559
_______ _______ _______
Depreciation
At 1 June 2022 130,918 1,199 132,117
Charge for the year 37,501 308 37,809
Disposals ( 50,804) ( 74) ( 50,878)
_______ _______ _______
At 31 May 2023 117,615 1,433 119,048
_______ _______ _______
Carrying amount
At 31 May 2023 112,501 10 112,511
_______ _______ _______
At 31 May 2022 105,216 324 105,540
_______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 25,528 19,794
Other debtors 4,265 8,025
_______ _______
29,793 27,819
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 687 8,911
Corporation tax 12,656 -
Social security and other taxes 12,287 2,137
Other creditors 9,109 50,849
_______ _______
34,739 61,897
_______ _______
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______
10. Related party transactions
At 31 May 2023 the company owed £7,474 to the director (2022: £49,431). No interest has been charged to the company in respect of this loan, which is repayable on demand and classified in creditors due within one year.