The Professional Cleaners Ltd - Period Ending 2018-03-31

The Professional Cleaners Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2018

Registration number: 10199224

The Professional Cleaners Ltd

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 6

The Professional Cleaners Ltd

Balance Sheet

31 March 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	644	250
Current assets
Debtors	5	3,435	3,427
Cash at bank and in hand		324	1,176
		3,759	4,603
Creditors: Amounts falling due within one year	6	(3,667)	(4,601)
Net current assets		92	2
Net assets		736	252
Capital and reserves
Called up share capital		2	2
Profit and loss account		734	250
Total equity		736	252

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 1

The Professional Cleaners Ltd

Balance Sheet

31 March 2018

For the financial year ending 31 March 2018 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 November 2018 and signed on its behalf by:
 

......................................... Mr K P C Body Director

Company Registration Number: 10199224

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

The Professional Cleaners Ltd

Notes to the Financial Statements

Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Beechwood House
Beech Avenue
Cattedown
Plymouth
PL4 0QQ

These financial statements were authorised for issue by the Board on 13 November 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	15% straight line

Page 3

The Professional Cleaners Ltd

Notes to the Financial Statements

Year Ended 31 March 2018

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2017 - 3).

Page 4

The Professional Cleaners Ltd

Notes to the Financial Statements

Year Ended 31 March 2018

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2017	290	290
Additions	515	515
At 31 March 2018	805	805
Depreciation
At 1 April 2017	40	40
Charge for the period	121	121
At 31 March 2018	161	161
Carrying amount
At 31 March 2018	644	644
At 31 March 2017	250	250

5

Debtors

	31 March 2018  £	31 March 2017  £
Trade debtors	79	29
Other debtors	3,356	3,398
	3,435	3,427

6

Creditors

Creditors: amounts falling due within one year

	31 March 2018  £	31 March 2017  £
Due within one year
Trade creditors	584	539
Corporation tax	21	-
Other creditors	3,062	4,062
	3,667	4,601

Page 5

The Professional Cleaners Ltd

Notes to the Financial Statements

Year Ended 31 March 2018

7	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

Page 6