Pennine Window Cleaning Limited Company Accounts

PENNINE WINDOW CLEANING LIMITED - Company Information

false false false false false false false false false true false false false false false false false 2016-10-01 Sage Accounts Production Advanced 2017 Update 3 - FRS 6,175 1,950 325 2,275 3,900 4,225 xbrli:pure xbrli:shares iso4217:GBP 07390068 2016-10-01 2017-09-30 07390068 2017-09-30 07390068 2016-09-30 07390068 2015-10-01 2016-09-30 07390068 2016-09-30 07390068 core:PlantMachinery 2016-10-01 2017-09-30 07390068 core:MotorVehicles 2016-10-01 2017-09-30 07390068 core:NetGoodwill 2016-10-01 2017-09-30 07390068 bus:RegisteredOffice 2016-10-01 2017-09-30 07390068 bus:LeadAgentIfApplicable 2016-10-01 2017-09-30 07390068 bus:Director3 2016-10-01 2017-09-30 07390068 bus:Director4 2016-10-01 2017-09-30 07390068 core:NetGoodwill 2016-09-30 07390068 core:NetGoodwill 2017-09-30 07390068 core:PlantMachinery 2016-09-30 07390068 core:MotorVehicles 2016-09-30 07390068 core:PlantMachinery 2017-09-30 07390068 core:MotorVehicles 2017-09-30 07390068 core:WithinOneYear 2017-09-30 07390068 core:WithinOneYear 2016-09-30 07390068 core:ShareCapital 2017-09-30 07390068 core:ShareCapital 2016-09-30 07390068 core:RetainedEarningsAccumulatedLosses 2017-09-30 07390068 core:RetainedEarningsAccumulatedLosses 2016-09-30 07390068 core:NetGoodwill 2016-09-30 07390068 core:PlantMachinery 2016-09-30 07390068 core:MotorVehicles 2016-09-30 07390068 bus:FRS102 2016-10-01 2017-09-30 07390068 bus:AuditExempt-NoAccountantsReport 2016-10-01 2017-09-30 07390068 bus:FullAccounts 2016-10-01 2017-09-30 07390068 bus:SmallCompaniesRegimeForAccounts 2016-10-01 2017-09-30 07390068 bus:PrivateLimitedCompanyLtd 2016-10-01 2017-09-30 07390068 core:AllAssociates 2016-10-01 2017-09-30

COMPANY REGISTRATION NUMBER: 07390068

Pennine Window Cleaning Limited

Filleted Unaudited Financial Statements

30 September 2017

Pennine Window Cleaning Limited

Financial Statements

Year ended 30 September 2017

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Pennine Window Cleaning Limited

Officers and Professional Advisers

The board of directors	Mr P J R Cheetham
	Mrs A C Cheetham

Registered office	C/O Saint & Co
	4 Mason Court, Gillan Way
	Penrith 40 Business Park
	Penrith
	Cumbria
	CA11 9GR

Accountants	Saint and Co
	Chartered accountant
	4 Mason Court
	Gillan Way
	Penrith 40 Business Park
	Penrith
	Cumbria
	CA11 9GR

Pennine Window Cleaning Limited

Statement of Financial Position

30 September 2017

	2017		2016
Note	£	£	£

Fixed assets

Intangible assets	5	3,900	4,225
Tangible assets	6	4,334	5,117
		--------	--------
		8,234	9,342

Current assets

Debtors	7	800	800
Cash at bank and in hand		1,733	1,841
		--------	--------
		2,533	2,641

Creditors: amounts falling due within one year	8	( 14,687)		( 16,647)
		---------		---------
Net current liabilities			( 12,154)	( 14,006)
			---------	---------
Total assets less current liabilities			( 3,920)	( 4,664)
			--------	--------
Net liabilities			( 3,920)	( 4,664)
			--------	--------

Capital and reserves

Called up share capital	30	30
Profit and loss account	( 3,950)	( 4,694)
	--------	--------
Shareholders deficit	( 3,920)	( 4,664)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Pennine Window Cleaning Limited

Statement of Financial Position (continued)

30 September 2017

These financial statements were approved by the board of directors and authorised for issue on 8 June 2018 , and are signed on behalf of the board by:

Mr P J R Cheetham

Director

Company registration number: 07390068

Pennine Window Cleaning Limited

Notes to the Financial Statements

Year ended 30 September 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Mason Court, Gillan Way, Penrith 40 Business Park, Penrith, Cumbria. CA11 9GR. The principal place of business is 1 Scattergate Close, Appleby in Westmorland, Cumbria, CA16 6SL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The balance sheet indicates a net deficit of £3,920. However, the accounts have been prepared on a going concern basis on the grounds that the directors will continue to meet the day to day expenses of the company and as the largest creditor of the company they have continued to provide these funds to the company since the year end.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 11.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: - None Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: - None

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	19 years straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	15% reducing balance
Motor Vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2016: 2 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 October 2016 and 30 September 2017	6,175
	--------
Amortisation
At 1 October 2016	1,950
Charge for the year	325
	--------
At 30 September 2017	2,275
	--------
Carrying amount
At 30 September 2017	3,900
	--------
At 30 September 2016	4,225
	--------

6. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 October 2016	2,693	5,200	7,893
Additions	462	–	462
	--------	--------	--------
At 30 September 2017	3,155	5,200	8,355
	--------	--------	--------
Depreciation
At 1 October 2016	1,232	1,544	2,776
Charge for the year	331	914	1,245
	--------	--------	--------
At 30 September 2017	1,563	2,458	4,021
	--------	--------	--------
Carrying amount
At 30 September 2017	1,592	2,742	4,334
	--------	--------	--------
At 30 September 2016	1,461	3,656	5,117
	--------	--------	--------

7. Debtors

	2017	2016
	£	£
Trade debtors	800	800
	-----	-----

8. Creditors: amounts falling due within one year

	2017	2016
	£	£
Other creditors	14,687	16,647
	---------	---------

9. Directors' advances, credits and guarantees

The directors were not advanced any amounts during the period.

10. Related party transactions

At the year end the company owed £13,887 (2016: £15,487) to the directors by way of an interest free loan. This loan is included in other creditors. No transactions with related parties were undertaken, other than disclosed in the notes, such as are required to be disclosed under the FRS102 Section 1A.

11. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 October 2015.

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