Lodestar Cleaning Contracts Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01527360 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

LODESTAR CLEANING CONTRACTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

9

DIRECTOR:

S R Lyward

REGISTERED OFFICE:

28 Wilton Road

Bexhill-on-Sea

East Sussex

TN40 1EZ

REGISTERED NUMBER:

01527360 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

79,006

67,588

79,006

67,588

CURRENT ASSETS

Stocks

73,259

68,522

Debtors

6

402,009

254,687

Cash at bank

55,228

33,397

530,496

356,606

CREDITORS

Amounts falling due within one year

7

413,557

262,429

NET CURRENT ASSETS

116,939

94,177

TOTAL ASSETS LESS CURRENT LIABILITIES

195,945

161,765

CREDITORS

Amounts falling due after more than one year

8

(127,904

)

(97,382

)

PROVISIONS FOR LIABILITIES

(7,634

)

(4,901

)

NET ASSETS

60,407

59,482

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

60,307

59,382

SHAREHOLDERS' FUNDS

60,407

59,482

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2020 and were signed by:

S R Lyward - Director

1.	STATUTORY INFORMATION

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

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider

there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service

contracts when turnover is recognised when the company receives the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of three years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

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 177 (2018 - 184 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2018

and 31 October 2019

3,000

AMORTISATION

At 1 November 2018

and 31 October 2019

3,000

NET BOOK VALUE

At 31 October 2019

-

At 31 October 2018

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 November 2018

9,450

159,831

22,045

Additions

-

-

704

Disposals

-

(13,995

)

-

At 31 October 2019

9,450

145,836

22,749

DEPRECIATION

At 1 November 2018

8,051

136,375

7,410

Charge for year

209

3,433

2,301

Eliminated on disposal

-

(7,461

)

-

At 31 October 2019

8,260

132,347

9,711

NET BOOK VALUE

At 31 October 2019

1,190

13,489

13,038

At 31 October 2018

1,399

23,456

14,635

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2018

48,580

23,229

263,135

Additions

37,760

-

38,464

Disposals

-

-

(13,995

)

At 31 October 2019

86,340

23,229

287,604

DEPRECIATION

At 1 November 2018

23,152

20,559

195,547

Charge for year

12,637

1,932

20,512

Eliminated on disposal

-

-

(7,461

)

At 31 October 2019

35,789

22,491

208,598

NET BOOK VALUE

At 31 October 2019

50,551

738

79,006

At 31 October 2018

25,428

2,670

67,588

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 November 2018

13,995

48,580

62,575

Additions

-

37,760

37,760

Disposals

(13,995

)

-

(13,995

)

At 31 October 2019

-

86,340

86,340

DEPRECIATION

At 1 November 2018

7,461

23,152

30,613

Charge for year

-

12,637

12,637

Eliminated on disposal

(7,461

)

-

(7,461

)

At 31 October 2019

-

35,789

35,789

NET BOOK VALUE

At 31 October 2019

-

50,551

50,551

At 31 October 2018

6,534

25,428

31,962

6.

DEBTORS

31.10.19

31.10.18

£

£

Amounts falling due within one year:

Trade debtors

146,264

37,300

Other debtors

201,595

171,505

347,859

208,805

Amounts falling due after more than one year:

Other debtors

54,150

45,882

Aggregate amounts

402,009

254,687

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Bank loans and overdrafts

118,330

30,203

Hire purchase contracts

33,655

11,859

Trade creditors

38,743

28,285

Taxation and social security

94,757

80,166

Other creditors

128,072

111,916

413,557

262,429

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.19

31.10.18

£

£

Hire purchase contracts

26,439

30,257

Other creditors

101,465

67,125

127,904

97,382

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2019 and 31 October 2018:

31.10.19

31.10.18

£

£

S R Lyward

Balance outstanding at start of year

171,505

167,322

Amounts advanced

25,441

4,183

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

196,946

171,505

At the start of the year, a director owed the company £171,505. Interest has been charged at the official rate based on the

average balance outstanding, At the end of the year the director owed the company £196,946 which is repayable on

demand. Amounts have been aggregated where considered appropriate and there were no material transactions.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance

Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the

Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Lodestar Cleaning Contracts Limited for the year ended 31 October 2019 which comprise the Statement of Income and

Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Lodestar Cleaning Contracts Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lodestar Cleaning Contracts Limited and state those matters that we have agreed to state to the director of Lodestar Cleaning Contracts Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lodestar Cleaning Contracts Limited and its director for our work or for this report.

It is your duty to ensure that Lodestar Cleaning Contracts Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lodestar Cleaning Contracts Limited. You consider that Lodestar Cleaning Contracts Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lodestar Cleaning Contracts Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

11 September 2020