Soluclean Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07756379 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

for

Soluclean Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P E Minister

K Burgess

J B Minister

REGISTERED OFFICE:

Gladstone House

26-30 Station Road

Urmston

Manchester

M41 9JQ

REGISTERED NUMBER:

07756379 (England and Wales)

ACCOUNTANTS:

Warr & Co Limited

Chartered Accountants

Mynshull House

78 Churchgate

Stockport

Cheshire

SK1 1YJ

FIXED ASSETS

Tangible assets

2

-

380

CURRENT ASSETS

Stocks

-

85,019

Debtors

17,306

142,940

Cash in hand

-

100

17,306

228,059

CREDITORS

Amounts falling due within one year

3

768,916

786,134

NET CURRENT LIABILITIES

(751,610

)

(558,075

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(751,610

)

(557,695

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(751,710

)

(557,795

)

SHAREHOLDERS' FUNDS

(751,610

)

(557,695

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 December 2016 and were signed on its behalf by:

J B Minister - Director

K Burgess - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

As at 30 June 2016 the company's net current liabilities exceeded its current assets by £751,610 (2015:

£558,075). The financial statements have been drawn up on a going concern basis which assumes that the

company will continue in operation, as the company meets its day to day working capital requirements through

support given by the directors.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of goods in the

ordinary nature of the business. Turnover is shown net of value added tax, of goods sold to external customers.

Turnover is recognised at the point of sale at which the goods are despatched.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

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

slow moving items.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

900

Disposals

(900

)

At 30 June 2016

-

DEPRECIATION

At 1 July 2015

520

Eliminated on disposal

(520

)

At 30 June 2016

-

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

380

3.

CREDITORS

Creditors include an amount of £ 65,018 (2015 - £ 116,959 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100