Trustclean Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01064381 (England and Wales)

TRUSTCLEAN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J P O'Brien

REGISTERED OFFICE:

Queens Court

Queens Road

Bentley

Doncaster

South Yorkshire

DN5 9QH

REGISTERED NUMBER:

01064381 (England and Wales)

BANKERS:

National Westminster Bank PLC

PO Box 26

12 High Street

Doncaster

South Yorkshire

DN1 1EJ

FIXED ASSETS

Tangible assets

4

323,010

323,319

CURRENT ASSETS

Stocks

3,612

8,222

Debtors

5

605,869

638,604

Cash at bank and in hand

145,413

2,216

754,894

649,042

CREDITORS

Amounts falling due within one year

6

484,027

471,610

NET CURRENT ASSETS

270,867

177,432

TOTAL ASSETS LESS CURRENT LIABILITIES

593,877

500,751

CREDITORS

Amounts falling due after more than one year

7

(35,563

)

(39,390

)

PROVISIONS FOR LIABILITIES

(11,306

)

(17,771

)

NET ASSETS

547,008

443,590

CAPITAL AND RESERVES

Called up share capital

500

500

Revaluation reserve

9

(10,992

)

(10,992

)

Retained earnings

557,500

454,082

SHAREHOLDERS' FUNDS

547,008

443,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 6 July 2018 and were signed by:

J P O'Brien - Director

1.	STATUTORY INFORMATION

Trustclean 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

No depreciation is provided on freehold land and buildings which is a departure from the requirements of the

Companies Act 1985, which requires all properties to be depreciated. The directors consider depreciation not to

be appropriate because it is only one of many factors reflected in the annual valuation and the amount of

depreciation which might have been charged cannot be separately identified or quantified. The directors consider

that this policy results in the accounts giving a true and fair view.

Stocks

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

moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 186 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 December 2016

190,000

285,270

475,270

Additions

-

64,189

64,189

Disposals

-

(100,128

)

(100,128

)

At 30 November 2017

190,000

249,331

439,331

DEPRECIATION

At 1 December 2016

-

151,951

151,951

Charge for year

-

35,225

35,225

Eliminated on disposal

-

(70,855

)

(70,855

)

At 30 November 2017

-

116,321

116,321

NET BOOK VALUE

At 30 November 2017

190,000

133,010

323,010

At 30 November 2016

190,000

133,319

323,319

Cost or valuation at 30 November 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2005

21,965

-

21,965

Valuation in 2007

27,043

-

27,043

Valuation in 2011

(60,000

)

-

(60,000

)

Cost

200,992

249,331

450,323

190,000

249,331

439,331

If freehold property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

200,992

200,992

Value of land in freehold land and buildings

(8,665

)

(8,665

)

Freehold Property was valued on an open market basis on 31 December 2011 by professional valuers .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 December 2016

102,618

Additions

49,058

At 30 November 2017

151,676

DEPRECIATION

At 1 December 2016

33,207

Charge for year

27,196

At 30 November 2017

60,403

NET BOOK VALUE

At 30 November 2017

91,273

At 30 November 2016

69,411

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

528,335

584,681

Other debtors

77,534

53,923

605,869

638,604

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

6,964

27,857

Hire purchase contracts

29,444

22,866

Trade creditors

69,256

41,723

Taxation and social security

288,004

190,705

Other creditors

90,359

188,459

484,027

471,610

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

-

6,964

Hire purchase contracts

35,563

32,426

35,563

39,390

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

6,964

34,821

Hire purchase contracts

65,007

55,292

Factored debts

-

145,972

71,971

236,085

The bank loan is secured by a legal charge over the property.

The hire purchase liability is secured on the various assets.

The factoring debt is secured by a fixed and floating charge over the assets.

9.

RESERVES

Revaluation

reserve

£

At 1 December 2016

and 30 November 2017

(10,992

)

10.	CONTROLLING PARTY

The controlling party is Mr J P O'Brien who owns 100% of the issued share capital.