FIRST_DIRECT_CLEANING_LIM - Accounts

FIRST DIRECT CLEANING LIMITED - Company Information

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Company Registration No. 03706376 (England and Wales)

FIRST DIRECT CLEANING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2016

FIRST DIRECT CLEANING LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

FIRST DIRECT CLEANING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

28 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

843

1,123

Tangible assets

59,567

67,550

60,410

68,673

Current assets

Stocks

500

1,757

Debtors

28,467

33,088

Cash at bank and in hand

7,915

364

36,882

35,209

Creditors: amounts falling due within one year

(50,505)

(44,678)

Net current liabilities

(13,623)

(9,469)

Total assets less current liabilities

46,787

59,204

Creditors: amounts falling due after more than one year

(18,438)

(26,550)

Provisions for liabilities

(10,455)

(11,730)

17,894

20,924

Capital and reserves

Called up share capital

100

Profit and loss account

17,794

20,824

Shareholders' funds

17,894

20,924

FIRST DIRECT CLEANING LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

28 FEBRUARY 2016

- 2 -

For the financial year ended 28 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 24 May 2016

Mr Stephen Golding

Director

Company Registration No. 03706376

FIRST DIRECT CLEANING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

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).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Plant and machinery

15% per annum reducing balance basis

Fixtures, fittings & equipment

15% per annum reducing balance basis

Motor vehicles

25% per annum reducing balance basis

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

FIRST DIRECT CLEANING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 March 2015

5,588

146,648

152,236

Additions

2,687

At 28 February 2016

5,588

149,335

154,923

Depreciation

At 1 March 2015

4,466

79,100

83,566

Charge for the year

279

10,668

10,947

At 28 February 2016

4,745

89,768

94,513

Net book value

At 28 February 2016

843

59,567

60,410

At 28 February 2015

1,123

67,550

68,673

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

Loans from directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr Stephen Golding - Directors Loan account

1,431

33,872

38,618

(3,315)

1,431

33,872

38,618

(3,315)

Other transactions

During the year, the director charged the company rent of £2,400 (2014 - £2,000) for the business premises. The rent has been charged on a open market value basis.