Kleen-it Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04332443 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2019

FOR

KLEEN-IT LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

5

-

140

Tangible assets

6

1,071

1,339

1,071

1,479

CURRENT ASSETS

Debtors

7

7,597

24,162

Cash at bank and in hand

36,484

29,250

44,081

53,412

CREDITORS

Amounts falling due within one year

8

25,836

40,281

NET CURRENT ASSETS

18,245

13,131

TOTAL ASSETS LESS CURRENT LIABILITIES

19,316

14,610

PROVISIONS FOR LIABILITIES

9

203

254

NET ASSETS

19,113

14,356

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

19,013

14,256

SHAREHOLDERS' FUNDS

19,113

14,356

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2020 and were signed on its behalf by:

Mrs S A Gunston - Director

1.	STATUTORY INFORMATION

Kleen-it Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address are as below:

Registered number:

04332443

Registered office:

53 Gildredge Road

Eastbourne

East Sussex

BN21 4SF

2.	STATEMENT OF COMPLIANCE

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company has prepared these accounts on a going concern basis, however there are

material uncertainties in respect of COVID-19 and management have taken into consideration

the existing and potential effects of coronavirus on the activities of the business in future.

Turnover

The turnover shown in the profit and loss accounts represents takings during the year.

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual

value, over the useful economic life of that asset as follows:

Goodwill - 20% Straight Line on NBV at 1st January 2015

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

All fixed assets are initially recorded at cost.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the

recognition of financial assets and liabilities, like trade and other accounts receivable and

payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including

loans and other accounts receivable and payable, are initially measured at the present value

of the future cash flows and subsequently measured at amortised cost using the effective

interest method. Debt instruments that are payable or receivable within one year, typically

trade payables or receivables, are measured, initially and subsequently, at the undiscounted

transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the

payment of a trade debt deferred beyond normal business terms or financed at a rate of

interest that is not a market rate, the financial asset or liability is measured, initially, at the

present value of the future cash flow discounted at a market rate of interest for a similar debt

instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the

difference between an asset's carrying amount and the present value of the estimated cash

flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as

the difference between an asset's carrying amount and best estimate of the recoverable

amount, which is an approximation of the amount that the Company would receive for the

asset if it were to be sold at the reporting date.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are

equivalent to a similar debt instrument, those financial instruments are classed as financial

liabilities. Financial liabilities are presented as such in the balance sheet and measured as

detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of

a financial liability then this is classed as an equity instrument. Dividends and distributions

relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability

using the effective interest method so that the amount charged is at a constant rate on the

carrying amount.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and

Loss account, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

1,999

AMORTISATION

At 1 January 2019

1,859

Amortisation for year

140

At 31 December 2019

1,999

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

140

6.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 January 2019

and 31 December 2019

66

7,584

7,650

DEPRECIATION

At 1 January 2019

66

6,245

6,311

Charge for year

-

268

268

At 31 December 2019

66

6,513

6,579

NET BOOK VALUE

At 31 December 2019

-

1,071

1,071

At 31 December 2018

-

1,339

1,339

All fixed assets are initially recorded at cost.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

4,492

20,908

Prepayments and accrued income

3,105

3,254

7,597

24,162

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

2,000

7,059

Corporation tax

3,568

1,566

Directors' current accounts

13,156

2,939

Accruals and deferred income

7,112

28,717

25,836

40,281

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

203

254

Deferred

tax

£

Balance at 1 January 2019

254

Provided during year

(51

)

Balance at 31 December 2019

203

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100