Wyclean Group Limited - Limited company accounts 16.1

REGISTERED NUMBER: 04756722 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

WYCLEAN GROUP LIMITED

Page

Company Information

1

Report of the Directors

2

to

3

Report of the Independent Auditors

4

to

5

Income statement

6

Balance Sheet

7

Notes to the Financial Statements

8

to

15

DIRECTORS:

Mrs K Goncalves

Mr B Wunderlich

REGISTERED OFFICE:

Unit 4

Valley Business Centre

Gordon Road

High Wycombe

Buckinghamshire

HP13 6EQ

REGISTERED NUMBER:

04756722 (England and Wales)

AUDITORS:

Seymour Taylor Audit Limited, Statutory Auditor

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

The directors present their report with the financial statements of the company for the year ended 31 December 2015.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

Mrs K Goncalves has held office during the whole of the period from 1 January 2015 to the date of this report.

Other changes in directors holding office are as follows:

Mr B Wunderlich was appointed as a director after 31 December 2015 but prior to the date of this report.

Mr M T Hughes ceased to be a director after 31 December 2015 but prior to the date of this report.

DISABLED EMPLOYEES

The company's policy is to give full and fair consideration to applications for employment made by disabled

persons, having regard to their particular aptitudes and abilities.

Disabled employees receive appropriate training to promote their career development within the company.

The company will put in place any reasonable measures and/or adjustments within the workplace for those

employees who become disabled during employment or for disabled appointees.

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;

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant

audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Seymour Taylor Audit Limited, will be re-appointed in accordance with section 487(2) of the

Companies Act 2006.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006

relating to small companies.

ON BEHALF OF THE BOARD:

Mr B Wunderlich - Director

5 September 2016

We have audited the financial statements of Wyclean Group Limited for the year ended 31 December 2015

which comprise the Income statement, Balance Sheet and the related notes. 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), including Financial Reporting Standard

102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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, 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. In addition to their responsibilities described above, the directors are also responsible for considering whether the company, subsequent to the balance sheet date, has sufficient distributable profits to make a distribution at the time the distribution is made.

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.

Basis for qualified opinion

The evidence available to us was limited in relation to the comparatives in the current years financial

statements which are derived from the financial statements for the year ended 31 December 2014. In our

report on those financial statements we stated that, because we were appointed as auditor on 17 February

2015 it was not possible for us to perform the auditing procedures necessary to obtain sufficient appropriate

audit evidence concerning the quantities of stock included at the balance sheet at 31 December 2013 at

£94,453. Any adjustment to this figure would have a consequential effect on the profit for the year ended 31

December 2014 and, consequently, our opinion on the financial statements for the year ended 31 December

2014 was qualified because of limitation in audit scope. Accordingly the amounts shown as cost of sales and

profit for the year ended 31 December 2014 may not be comparable with the figures for the current period.

Opinion on financial statements

In our opinion, except for the possible effect of the matter described in the Basis for Qualified Opinion

paragraph, the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2015 and of its profit for the

year ended then;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practise;

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.

Matters on which we are required to report by exception

In respect of the limitation on our work relating to stock held as 31 December 2013 with a carrying value of

£94,453;

- we have not obtained all the information and explanations that we considered necessary for the purposes of

our audit; and

- we were unable to determine whether adequate accounting records have been maintained.

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:

-	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.

-	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.

Simon Turner FCA (Senior Statutory Auditor)

for and on behalf of Seymour Taylor Audit Limited, Statutory Auditor

57 London Road

High Wycombe

Buckinghamshire

HP11 1BS

5 September 2016

TURNOVER

8,224,252

7,670,854

Cost of sales

6,624,518

6,005,250

GROSS PROFIT

1,599,734

1,665,604

Administrative expenses

1,604,340

1,312,229

(4,606

)

353,375

Other operating income

10,405

7,412

OPERATING PROFIT

5,799

360,787

Interest receivable and similar income

6

88

554

PROFIT BEFORE TAXATION

5,887

361,341

Tax on profit

31,234

110,292

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(25,347

)

251,049

FIXED ASSETS

Intangible assets

8

305,750

449,750

Tangible assets

9

12,186

15,978

Investments

10

2

2

317,938

465,730

CURRENT ASSETS

Stocks

141,927

107,312

Debtors: amounts falling due within one year

11

1,319,156

1,215,564

Cash at bank and in hand

225,590

362,184

1,686,673

1,685,060

CREDITORS

Amounts falling due within one year

12

1,412,645

1,358,228

NET CURRENT ASSETS

274,028

326,832

TOTAL ASSETS LESS CURRENT LIABILITIES

591,966

792,562

PROVISIONS FOR LIABILITIES

1,765

1,164

NET ASSETS

590,201

791,398

CAPITAL AND RESERVES

Called up share capital

15

100

100

Retained earnings

590,101

791,298

SHAREHOLDERS' FUNDS

590,201

791,398

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 5 September 2016 and were signed on its behalf by:

Mr B Wunderlich - Director

1.	STATUTORY INFORMATION

Wyclean Group 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.

The principal activity of the company during the year was that of contract cleaning.

The financial statements are prepared in sterling which is the functional currency of the company and

rounded to the nearest £.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has chosen to early adopt Financial Reporting Standard 102 "The Financial Reporting

Standard applicable in the UK and Republic of Ireland".

Preparation of consolidated financial statements

The financial statements contain information about Wyclean Group 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of stock is recognised at the point of sale.

Rendering of services

Turnover is recognised on the completion of the service.

Interest receivable

Interest income is recognised using the effective interest method.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses, is being amortised

evenly over an estimated useful life of ten years.

Goodwill acquisition

£

Year ended 2006

1,200,000

Year ended 2009

180,000

Year ended 2009

60,000

Note 7

1,440,000

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation

and accumulated impairment losses. Cost includes costs directly attributable to making the asset

capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less

estimated residual value, of each of the asset on a systematic basis over its expected useful life as

follows:

Improvements to property

- straight line - 20%

Fixtures and fittings

- straight line - 20%

Motor vehicles

- straight line - 25%

Tangible assets over the value of £2,000 are capitalised. Computer equipment and other small

equipment costing below this amount is written-off as the expenditure is incurred.

Stocks

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

obsolete and slow moving items.

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 are differences between the taxable profits and the results

as stated in the financial statements that arise from the inclusion of gains and losses in tax

assessments in periods different from those in which they are recognised in the financial statements.

A net deferred tax asset is regarded as recoverable, and therefore recognised, only when it can be

regarded as more likely than not that there will be suitable taxable profits from which the future reversal

of underlying timing differences can be deducted.

Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there

is a binding agreement to sell the revalued assets and the asset has been revalued to selling price.

Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the

taxable gain will be rolled over, being charged to tax only if an when the replacement assets are sold.

Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to

apply in the periods in which the timing differences are expected to reverse, based on tax rates and

laws enacted by the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Employee benefits

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument

is any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities.

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

similar debt instrument, those financial instruments are classified as financial liabilities. Financial

liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to

financial liabilities are included in the profit and loss account. Financial costs are calculated so as to

produce a constant rate of return on the outstanding liability.

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

liability then this is classified as an equity instrument. Dividends and distributions relating to equity

instruments are debited directly to equity.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at the transaction price. Any losses arising from impairment are recognised in the profit and

loss account in other administrative expenses.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding

transaction costs. Subsequently, they are measured at fair value through the profit and loss if the

shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are

measured at cost less impairment.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at

each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's

cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount

exceeds its recoverable amount, an impairment loss is recognised in the profit or loss unless the asset

is carried at a revalued amount where the impairment loss is a revaluation decrease.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss)

for the current or past reporting periods. It is measured at the amount expected to be paid or recovered

using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date.

3.	EMPLOYEES AND DIRECTORS

The average monthly number of employees, including directors, during the year was as follows:

2015

2014

£

£

Employees

858

803

4.	AUDITORS' REMUNERATION

2015

2014

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

9,800

9,000

5.	EXCEPTIONAL ITEMS

2015

2014

£

£

Exceptional items

(211,210

)

-

During the year £211,210 (2014 - £nil) of expenditure of exceptional size was recorded and related to

M Hughes' pension contribution.

6.

INTEREST RECEIVABLE AND SIMILAR INCOME

2015

2014

£

£

Bank account interest

88

554

7.

DIVIDENDS

2015

2014

£

£

Ordinary shares of £1 each

Interim

175,850

268,108

8.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2015

and 31 December 2015

1,440,000

AMORTISATION

At 1 January 2015

990,250

Amortisation for year

144,000

At 31 December 2015

1,134,250

NET BOOK VALUE

At 31 December 2015

305,750

At 31 December 2014

449,750

9.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2015

92,575

113,705

6,554

212,834

Additions

-

-

10,995

10,995

Disposals

-

-

(6,554

)

(6,554

)

At 31 December 2015

92,575

113,705

10,995

217,275

DEPRECIATION

At 1 January 2015

89,740

106,024

1,092

196,856

Charge for year

2,835

4,199

3,793

10,827

Eliminated on disposal

-

-

(2,594

)

(2,594

)

At 31 December 2015

92,575

110,223

2,291

205,089

NET BOOK VALUE

At 31 December 2015

-

3,482

8,704

12,186

At 31 December 2014

2,835

7,681

5,462

15,978

10.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2015

and 31 December 2015

2

NET BOOK VALUE

At 31 December 2015

2

At 31 December 2014

2

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015

2014

£

£

Trade debtors

1,239,653

1,167,392

Other debtors

79,503

48,172

1,319,156

1,215,564

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015

2014

£

£

Trade creditors

279,209

254,203

Amounts owed to group undertakings

2

2

Taxation and social security

384,351

428,682

Other creditors

749,083

675,341

1,412,645

1,358,228

13.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2015

2014

£

£

Within one year

192,348

179,778

Between one and five years

407,009

519,560

In more than five years

-

1,306

599,357

700,644

14.	SECURED DEBTS

The following secured debts are included within creditors:

2015

2014

£

£

Invoice discounting

257,439

262,815

The invoicing discounting creditor is secured by fixed and floating charges over the the company's

book debts and all other assets.

15.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

16.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2015

and the year ended 31 December 2014:

2015

2014

£

£

Mr M T Hughes

Balance outstanding at start of year

(1,702

)

11,168

Aggregate amounts advanced

220,869

35,630

Aggregate amounts repaid

(194,973

)

(48,500

)

Balance outstanding at end of year

24,194

(1,702

)

In addition, during the year ended 31 December 2015 and the year ended 31 December 2014 the

directors purchased goods from the company on normal credit terms as follows:

2015

2014

£

£

Mrs K Goncalves

Balance outstanding at start of year

-

27

Aggregate sales invoices

405

286

Aggregate sales settlements

(405

)

(313

)

Balance outstanding at end of year

-

-

Mr B D Gallyot

Balance outstanding at start of year

-

-

Aggregate sales invoices

-

4

Aggregate sales settlements

-

(4

)

Balance outstanding at end of year

-

-

17.	RELATED PARTY DISCLOSURES

18.	POST BALANCE SHEET EVENTS

On 3 May 2016 Mr Hughes who held 100% of the shareholding throughout the year sold all of his

shareholding to Lanfine Estate Limited, a member of the Dr. Sasse AG group.

19.	ULTIMATE CONTROLLING PARTY

The directors consider Lanfine Estate Limited to be the company's immediate parent company and Dr.

Sasse AG to be the company's ultimate parent company.

The principle place of business for Dr. Sasse AG is:

Am Westpark 1

D-81373 Munich, Germany

20.	TRANSITION TO FRS 102

These are the first financial statements that comply with FRS 102 (Section 1A). The company

transitioned to FRS 102 (Section 1A) on 1 January 2014.

No transitional adjustments were required in equity or profit or loss for the year.