British Institute Cleaning Science - Accounts to registrar (filleted) - small 23.1.2
British Institute Cleaning Science - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2022 |
| for |
| The British Institute of Cleaning |
| Science Limited |
| The British Institute of Cleaning |
| Science Limited (Registered number: 01524014) |
| Contents of the Financial Statements |
| for the year ended 31 December 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 | to | 8 |
| The British Institute of Cleaning |
| Science Limited |
| Company Information |
| for the year ended 31 December 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants & |
| Statutory Auditors |
| Pacioli House |
| 9 Brookfield |
| Duncan Close |
| Northampton |
| Northamptonshire |
| NN3 6WL |
| The British Institute of Cleaning |
| Science Limited (Registered number: 01524014) |
| Balance Sheet |
| 31 December 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| RESERVES |
| Revaluation reserve |
| Income and expenditure account |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| The British Institute of Cleaning |
| Science Limited (Registered number: 01524014) |
| Notes to the Financial Statements |
| for the year ended 31 December 2022 |
| 1. | STATUTORY INFORMATION |
| The British Institute of Cleaning Science Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis. |
| The financial statements are presented in Sterling (£) and cover the period to the 31st December each year. |
| Going Concern |
| At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| Preparation of consolidated financial statements |
| The financial statements contain information about The British Institute of Cleaning Science Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Significant judgements and estimates |
| In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. |
| The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below. |
| (a) Deferred income |
| As stated in the 'Turnover' note, membership income is spread evenly over the period of the membership. Joining fees are deferred over the first year of membership. |
| Turnover |
| Turnover represents the invoiced amount of services provided stated net of value added tax. The turnover and pre tax profit is wholly attributable to the operating activities of the company. Turnover is recognised upon evidence of the date the service is provided or for membership income spread evenly over the period of the membership. |
| The British Institute of Cleaning |
| Science Limited (Registered number: 01524014) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet. |
| The British Institute of Cleaning |
| Science Limited (Registered number: 01524014) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Trade and other debtors |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
| Trade and other creditors |
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
| Interest bearing borrowings |
| Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method. |
| Leasing commitments |
| Rentals under operating leases are charged on a straight line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2022 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 December 2022 |
| DEPRECIATION |
| At 1 January 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| The British Institute of Cleaning |
| Science Limited (Registered number: 01524014) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 January 2022 |
| and 31 December 2022 |
| NET BOOK VALUE |
| At 31 December 2022 |
| At 31 December 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 154,797 | 174,861 |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |
| The British Institute of Cleaning |
| Science Limited (Registered number: 01524014) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2022 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| The company has three outstanding charges in respect of Lloyds Bank Plc, one charge in relation to 8 Premier Court, another in relation to 4 Premier Court, two properties owned by BICSc. The third charge is a unlimited debenture which contains a fixed and floating charge over all assets of the comapny. |
| 11. | FINANCIAL RISK MANAGEMENT |
| The company has some exposure to credit, liquidity and cash flow interest rate risks, These risks are limited by the company's financial management policies and practices described below. |
| Foreign currency risk |
| The company has exposure to foreign currency risks as some of the company's sales are denominated in Euros and other world currencies. The company operates a Euro (€) current account to help mitigate the risks arising from exchange rates. |
| Credit risk |
| Credit risk is the risk that one party to a financial instrument will cause a financial loss for the institute by failing to discharge an obligation. The Institute has limited exposure to credit risk with the highest risks arising from trade debtors going bad. The Institute reduce the risk through sensible sales ledger management policies. |
| Liquidity risk |
| The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities. The only significant non-derivative financial liability remaining at the reporting date is the overdraft on the bank account. |
| Market risk |
| There is a market risk associated with the fluctuation in demand for the products and services provided. Most of this is mitigated by monitoring the markets. |
| The company holds no derivative financial instruments at the year end. |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 13. | RELATED PARTY DISCLOSURES |
| During the year the company has traded with related parties and members, however, these have all been in the normal course of business, under normal market conditions, and are immaterial to both parties. |
| The British Institute of Cleaning |
| Science Limited (Registered number: 01524014) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2022 |
| 14. | MEMBERS' LIMITED LIABILITY |
| The Institute is a company limited by guarantee and has no share capital. Every member of the Institute undertakes to contribute to the assets of the Institute in the event of the same being wound up while they are a member, or within one year after they cease to be a member. This contribution, not exceeding £1, covers the payments of debts and liabilities of the Institute contracted before each individual ceases to be a member and of the costs, charges and expenses of winding-up and for adjustment of the rights of the contributors among themselves. |