Ecocleen Services Limited - Limited company accounts 11.7
Ecocleen Services Limited - Limited company accounts 11.7
| REGISTERED NUMBER: |
| Report of the Directors and |
| Financial Statements for the Year Ended 31 December 2014 |
| for |
| Ecocleen Services Limited |
| Ecocleen Services Limited (Registered number: 05418796) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2014 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Report of the Independent Auditors | 4 |
| Profit and Loss Account | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 |
| Ecocleen Services Limited |
| Company Information |
| for the Year Ended 31 December 2014 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants and Business Advisors |
| Registered Auditor |
| BANKERS: |
| Ecocleen Services Limited (Registered number: 05418796) |
| Report of the Directors |
| for the Year Ended 31 December 2014 |
| The directors present their report with the financial statements of the company for the year ended 31 December 2014. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of in-house and contract cleaning franchisors. |
| The results for the period have been positive despite the depressed economic climate. The business continues to look at new ways |
| to realise its full potential in the market place. |
| The management team are enthusiastic about the business and have already invested time and money into new business resources |
| to enhance management control and service delivery. This investment will continue into the new year with a clear focus on medium |
| to long term growth and sustainability. |
| The directors are confident about the future of the business. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 January 2014 to the date of this report. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable |
| law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have |
| elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United |
| Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements |
| unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the |
| company for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's |
| transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that |
| the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the |
| company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of |
| which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in |
| order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that |
| information. |
| AUDITORS |
| The auditors, Cartwrights, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| Ecocleen Services Limited (Registered number: 05418796) |
| Report of the Directors |
| for the Year Ended 31 December 2014 |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small |
| companies. |
| ON BEHALF OF THE BOARD: |
| Report of the Independent Auditors to the Members of |
| Ecocleen Services Limited |
| We have audited the financial statements of Ecocleen Services Limited for the year ended 31 December 2014 on pages six to |
| fourteen. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom |
| Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act |
| 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state |
| to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume |
| responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for |
| the opinions we have formed. |
| Respective responsibilities of directors and auditors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors. |
| Scope of the audit of the financial statements |
| An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable |
| assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an |
| assessment of: whether the accounting policies are appropriate to the company's circumstances and have been consistently applied |
| and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall |
| presentation of the financial statements. In addition, we read all the financial and non-financial information in the Report of the |
| Directors to identify material inconsistencies with the audited financial statements and to identify any information that is |
| apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing |
| the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our |
| report. |
| Opinion on financial statements |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 31 December 2014 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Opinion on other matter prescribed by the Companies Act 2006 |
| In our opinion the information given in the Report of the Directors for the financial year for which the financial statements are |
| prepared is consistent with the financial statements. |
| Report of the Independent Auditors to the Members of |
| Ecocleen Services Limited |
| Matters on which we are required to report by exception |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our |
| opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit; or |
| - | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
| for and on behalf of |
| Chartered Accountants and Business Advisors |
| Registered Auditor |
| Ecocleen Services Limited (Registered number: 05418796) |
| Profit and Loss Account |
| for the Year Ended 31 December 2014 |
| 2014 | 2013 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales | ( |
) | ( |
) |
| GROSS PROFIT |
| Administrative expenses | ( |
) | ( |
) |
| 67,858 | 60,091 |
| Other operating income |
| OPERATING PROFIT | 2 |
| Profit/loss on franchise sales |
| 155,515 | 130,494 |
| Interest payable and similar charges | ( |
) | ( |
) |
| PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION |
| Tax on profit on ordinary activities | 3 | ( |
) | ( |
) |
| PROFIT FOR THE FINANCIAL YEAR |
| CONTINUING OPERATIONS |
| None of the company's activities were acquired or discontinued during the current year or previous year. |
| TOTAL RECOGNISED GAINS AND LOSSES |
| The company has no recognised gains or losses other than the profits for the current year or previous year. |
| Ecocleen Services Limited (Registered number: 05418796) |
| Balance Sheet |
| 31 December 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| Investments | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Prepayments and accrued income |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Share premium | 13 |
| Profit and loss account | 13 |
| SHAREHOLDERS' FUNDS | 17 |
| The financial statements were approved by the Board of Directors on |
| Ecocleen Services Limited (Registered number: 05418796) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2014 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United |
| Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated). |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Ecocleen Services Limited as an individual company and do not |
| contain consolidated financial information as the parent of a group. The company has taken the option under Section 398 |
| of the Companies Act 2006 not to prepare consolidated financial statements. |
| Financial reporting standard number 1 |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small |
| company. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Goodwill |
| Acquired goodwill is written off in equal annual instalments over its estimated useful economic life. |
| Tangible fixed assets |
| Plant & machinery - 25%-50% on costs |
| Fixture and fittings - 25%-50% on costs |
| Computer equipment - 25%-50% on costs |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
| date. |
| Research and development |
| Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development |
| expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial |
| viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the |
| company is expected to benefit. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate. |
| Investments |
| Fixed asset investments are stated at cost less provision for diminution in value. |
| Ecocleen Services Limited (Registered number: 05418796) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2014 |
| 2. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2014 | 2013 |
| £ | £ |
| Other operating leases | 50,911 | 36,070 |
| Depreciation - owned assets |
| Goodwill amortisation |
| Development costs amortisation |
| Auditors' remuneration |
| Pension costs |
| Directors' remuneration and other benefits etc |
| 3. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit on ordinary activities for the year was as follows: |
| 2014 | 2013 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Tax on profit on ordinary activities |
| UK corporation tax was charged at |
| Factors affecting the tax charge |
| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained |
| below: |
| 2014 | 2013 |
| £ | £ |
| Profit on ordinary activities before tax |
| Profit on ordinary activities |
| multiplied by the standard rate of corporation tax |
| in the UK of |
| Effects of: |
| Expenses not deductible for tax purposes |
| Income not taxable for tax purposes | ( |
) |
| Capital allowances in excess of depreciation | - | ( |
) |
| Depreciation in excess of capital allowances | - |
| Utilisation of tax losses | ( |
) |
| Group relief | (5,033 | ) | (1,782 | ) |
| Current tax charge |
| Ecocleen Services Limited (Registered number: 05418796) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2014 |
| 4. | DIVIDENDS |
| 2014 | 2013 |
| £ | £ |
| Ordinary shares of £1 each |
| Interim | 96,000 | 80,000 |
| 5. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2014 |
| Additions |
| At 31 December 2014 |
| AMORTISATION |
| At 1 January 2014 |
| Charge for year |
| At 31 December 2014 |
| NET BOOK VALUE |
| At 31 December 2014 |
| At 31 December 2013 |
| 6. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2014 |
| Additions |
| At 31 December 2014 |
| DEPRECIATION |
| At 1 January 2014 |
| Charge for year |
| At 31 December 2014 |
| NET BOOK VALUE |
| At 31 December 2014 |
| At 31 December 2013 |
| Ecocleen Services Limited (Registered number: 05418796) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2014 |
| 7. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2014 |
| and 31 December 2014 | 200 |
| NET BOOK VALUE |
| At 31 December 2014 |
| At 31 December 2013 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | (85,135 | ) | (85,135 | ) |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary | 100.00 |
| £ | £ |
| Aggregate capital and reserves | (33,537 | ) | (33,537 | ) |
| Both companies were non-trading during the year under review. |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2014 | 2013 |
| £ | £ |
| Trade debtors | 1,019,177 | 1,063,496 |
| Amounts owed by group undertakings |
| Other debtors | 26,155 | 49,211 |
| Ecocleen Services Limited (Registered number: 05418796) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2014 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2014 | 2013 |
| £ | £ |
| Bank loans and overdrafts (see note 11) |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2014 | 2013 |
| £ | £ |
| Other creditors |
| 11. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2014 | 2013 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| Other loans |
| 115,102 | 16,998 |
| Amounts falling due between one and two years: |
| Other loans - 1-2 years |
| Amounts falling due between two and five years: |
| Other loans - 2-5 years |
| The bank holds a fixed and floating charge over the assets of both Ecocleen Services Limited and its parent, Ecoserve |
| Support Services Holdings. |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |
| Ecocleen Services Limited (Registered number: 05418796) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2014 |
| 13. | RESERVES |
| Profit |
| and loss | Share |
| account | premium | Totals |
| £ | £ | £ |
| At 1 January 2014 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 December 2014 |
| 14. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of |
| the company in an independently administered fund. The pension cost charge represents contributions payable by the |
| company to the fund and amounted to £10,400 (2013 - £10,400). Contributions totalling £nil (2013: £nil) were payable to |
| the fund at the year end and are included in creditors. |
| 15. | ULTIMATE PARENT COMPANY |
| 16. | RELATED PARTY DISCLOSURES |
| Ecoserve Support Services Holdings Limited |
| The ultimate parent undertaking |
| At the balance sheet date, Ecocleen Services Limited owed £322,936 (2013: was owed £29,407) to Ecoserve Support |
| Services Holdings Limited. |
| Ecocleen (Thames Valley) Limited |
| A subsidiary undertaking |
| At the balance sheet date, Ecocleen Services Limited was owed £78,448 (2013: £78,478) by Ecocleen (Thames Valley) |
| Limited. |
| Ecocleen (West Midlands) Limited |
| A subsidiary undertaking |
| At the balance sheet date, Ecocleen Services Limited was owed £33,862 (2013: £33,997) by Ecocleen (West Midlands) |
| Limited. |
| Ecocleen Services Limited (Registered number: 05418796) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2014 |
| 16. | RELATED PARTY DISCLOSURES - continued |
| Pestforce (London) Limited |
| An associate of Ecoserve Support Services Holdings Limited |
| At the balance sheet date, Ecocleen Services Limited was owed £7,630 (2013: £nil) by Pestforce (London) Limited. |
| Pestforce (UK) Limited |
| A subsidiary of Ecoserve Support Services Holdings Limited |
| At the balance sheet date, Ecocleen Services Limited was owed £20,879 (2013: £nil) by Pestforce (UK) Limited. |
| Lockforce (UK) Limited |
| A subsidiary of Ecoserve Support Services Holdings Limited |
| At the balance sheet date, Ecocleen Services Limited owed £6,000 (2013: £nil) to Lockforce (UK) Limited. |
| 17. | RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS |
| 2014 | 2013 |
| £ | £ |
| Profit for the financial year |
| Dividends | ( |
) | ( |
) |
| Net addition to shareholders' funds |
| Opening shareholders' funds |
| Closing shareholders' funds |