Trustclean Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01064381 (England and Wales)

TRUSTCLEAN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J P O'Brien

REGISTERED OFFICE:

Queens Court

Queens Road

Bentley

Doncaster

South Yorkshire

DN5 9QH

REGISTERED NUMBER:

01064381 (England and Wales)

BANKERS:

National Westminster Bank PLC

PO Box 26

12 High Street

Doncaster

South Yorkshire

DN1 1EJ

FIXED ASSETS

Tangible assets

4

309,946

323,010

CURRENT ASSETS

Stocks

-

3,612

Debtors

5

276,926

605,869

Cash at bank and in hand

147,634

145,413

424,560

754,894

CREDITORS

Amounts falling due within one year

6

125,247

484,027

NET CURRENT ASSETS

299,313

270,867

TOTAL ASSETS LESS CURRENT LIABILITIES

609,259

593,877

CREDITORS

Amounts falling due after more than one year

7

(20,040

)

(35,563

)

PROVISIONS FOR LIABILITIES

(9,962

)

(11,306

)

NET ASSETS

579,257

547,008

CAPITAL AND RESERVES

Called up share capital

500

500

Revaluation reserve

9

(10,992

)

(10,992

)

Retained earnings

589,749

557,500

SHAREHOLDERS' FUNDS

579,257

547,008

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 19 March 2019 and were signed by:

J P O'Brien - Director

1.	STATUTORY INFORMATION

Trustclean 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

No depreciation is provided on freehold land and buildings which is a departure from the requirements of the

Companies Act 1985, which requires all properties to be depreciated. The directors consider depreciation not to

be appropriate because it is only one of many factors reflected in the annual valuation and the amount of

depreciation which might have been charged cannot be separately identified or quantified. The directors consider

that this policy results in the accounts giving a true and fair view.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 186 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 December 2017

190,000

249,331

439,331

Additions

-

24,499

24,499

Disposals

-

(12,550

)

(12,550

)

At 30 November 2018

190,000

261,280

451,280

DEPRECIATION

At 1 December 2017

-

116,321

116,321

Charge for year

-

32,048

32,048

Eliminated on disposal

-

(7,035

)

(7,035

)

At 30 November 2018

-

141,334

141,334

NET BOOK VALUE

At 30 November 2018

190,000

119,946

309,946

At 30 November 2017

190,000

133,010

323,010

Cost or valuation at 30 November 2018 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2005

21,965

-

21,965

Valuation in 2007

27,043

-

27,043

Valuation in 2011

(60,000

)

-

(60,000

)

Cost

200,992

261,280

462,272

190,000

261,280

451,280

If freehold property had not been revalued it would have been included at the following historical cost:

2018

2017

£

£

Cost

200,992

200,992

Value of land in freehold land and buildings

(8,665

)

(8,665

)

Freehold Property was valued on an open market basis on 31 December 2011 by professional valuers .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 December 2017

151,676

Additions

19,999

Transfer to ownership

(45,617

)

At 30 November 2018

126,058

DEPRECIATION

At 1 December 2017

60,403

Charge for year

25,526

Transfer to ownership

(33,033

)

At 30 November 2018

52,896

NET BOOK VALUE

At 30 November 2018

73,162

At 30 November 2017

91,273

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

3,239

528,335

Other debtors

273,687

77,534

276,926

605,869

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

6,964

Hire purchase contracts

33,212

29,444

Trade creditors

17,580

69,256

Taxation and social security

33,100

288,004

Other creditors

41,355

90,359

125,247

484,027

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

20,040

35,563

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

-

6,964

Hire purchase contracts

53,252

65,007

53,252

71,971

The bank loan is secured by a legal charge over the property.

The hire purchase liability is secured on the various assets.

The factoring debt is secured by a fixed and floating charge over the assets.

9.

RESERVES

Revaluation

reserve

£

At 1 December 2017

and 30 November 2018

(10,992

)

10.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company has future operating lease commitments of £4,008.

11.	CONTROLLING PARTY

The controlling party is Mr J P O'Brien who owns 100% of the issued share capital.

12.	DISCONTINUED OPERATIONS

At the 30th November 2017 all trade for industrial, office and domestic cleaning ceased. All trade in the year to

30th November 2018 was as a management company for the cleaning sector.