Abbey Window Cleaning Ltd 28/02/2019 iXBRL

Abbey Window Cleaning Ltd 28/02/2019 iXBRL

ABBEY WINDOW CLEANING LIMITED - Company Information

Print Friendly Version

28/02/2019 2019-02-28 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-03-01 Sage Accounts Production 18.30 Update 1 - FRS xbrli:pure xbrli:shares iso4217:GBP 09456447 2018-03-01 2019-02-28 09456447 2019-02-28 09456447 2018-02-28 09456447 2017-03-01 2018-02-28 09456447 2018-02-28 09456447 2017-02-28 09456447 core:PlantMachinery 2018-03-01 2019-02-28 09456447 core:FurnitureFittingsToolsEquipment 2018-03-01 2019-02-28 09456447 core:MotorVehicles 2018-03-01 2019-02-28 09456447 core:NetGoodwill 2018-03-01 2019-02-28 09456447 bus:RegisteredOffice 2018-03-01 2019-02-28 09456447 bus:LeadAgentIfApplicable 2018-03-01 2019-02-28 09456447 bus:Director1 2018-03-01 2019-02-28 09456447 bus:Director2 2018-03-01 2019-02-28 09456447 core:NetGoodwill 2018-02-28 09456447 core:NetGoodwill 2019-02-28 09456447 core:PlantMachinery 2018-02-28 09456447 core:FurnitureFittingsToolsEquipment 2018-02-28 09456447 core:MotorVehicles 2018-02-28 09456447 core:PlantMachinery 2019-02-28 09456447 core:FurnitureFittingsToolsEquipment 2019-02-28 09456447 core:MotorVehicles 2019-02-28 09456447 core:WithinOneYear 2019-02-28 09456447 core:WithinOneYear 2018-02-28 09456447 core:AfterOneYear 2019-02-28 09456447 core:AfterOneYear 2018-02-28 09456447 core:ShareCapital 2019-02-28 09456447 core:ShareCapital 2018-02-28 09456447 core:RetainedEarningsAccumulatedLosses 2019-02-28 09456447 core:RetainedEarningsAccumulatedLosses 2018-02-28 09456447 core:NetGoodwill 2018-02-28 09456447 core:PlantMachinery 2018-02-28 09456447 core:FurnitureFittingsToolsEquipment 2018-02-28 09456447 core:MotorVehicles 2018-02-28 09456447 bus:Director1 2018-02-28 09456447 bus:Director1 2019-02-28 09456447 bus:Director2 2018-02-28 09456447 bus:Director1 2017-02-28 09456447 bus:Director1 2018-02-28 09456447 bus:Director2 2017-02-28 09456447 bus:Director2 2018-02-28 09456447 bus:Director1 2017-03-01 2018-02-28 09456447 bus:Director2 2017-03-01 2018-02-28 09456447 bus:SmallEntities 2018-03-01 2019-02-28 09456447 bus:AuditExemptWithAccountantsReport 2018-03-01 2019-02-28 09456447 bus:FullAccounts 2018-03-01 2019-02-28 09456447 bus:SmallCompaniesRegimeForAccounts 2018-03-01 2019-02-28 09456447 bus:PrivateLimitedCompanyLtd 2018-03-01 2019-02-28
Company registration number: 09456447
Abbey Window Cleaning Ltd
Unaudited filleted financial statements
28 February 2019
Abbey Window Cleaning Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Abbey Window Cleaning Ltd
Directors and other information
Directors Mr Nicholas Milner
Company number 09456447
Registered office 24A Cherry Dale Road
Broughton
Chester
Cheshire
CH4 0FA
Accountants Hargreaves & Woods
Cholmondeley House
Dee Hills Park
Chester
Cheshire
CH3 5AR
Abbey Window Cleaning Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Abbey Window Cleaning Ltd
Year ended 28 February 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Abbey Window Cleaning Ltd for the year ended 28 February 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of Abbey Window Cleaning Ltd, as a body, in accordance with the terms of our engagement letter dated 1 March 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Abbey Window Cleaning Ltd and state those matters that we have agreed to state to the board of directors of Abbey Window Cleaning Ltd as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbey Window Cleaning Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Abbey Window Cleaning Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abbey Window Cleaning Ltd. You consider that Abbey Window Cleaning Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Abbey Window Cleaning Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hargreaves & Woods
Chartered Accountants
Cholmondeley House
Dee Hills Park
Chester
Cheshire
CH3 5AR
25 November 2019
Abbey Window Cleaning Ltd
Statement of financial position
28 February 2019
2019 2018
Note £ £ £ £
Fixed assets
Intangible assets 5 14,300 16,500
Tangible assets 6 2,224 4,196
_______ _______
16,524 20,696
Current assets
Cash at bank and in hand 398 382
_______ _______
398 382
Creditors: amounts falling due
within one year 7 ( 9,413) ( 14,423)
_______ _______
Net current liabilities ( 9,015) ( 14,041)
_______ _______
Total assets less current liabilities 7,509 6,655
Creditors: amounts falling due
after more than one year 8 ( 2,747) ( 3,047)
_______ _______
Net assets 4,762 3,608
_______ _______
Capital and reserves
Called up share capital 120 120
Profit and loss account 4,642 3,488
_______ _______
Shareholders funds 4,762 3,608
_______ _______
For the year ending 28 February 2019 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.
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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 November 2019 , and are signed on behalf of the board by:
Mr Nicholas Milner
Director
Company registration number: 09456447
Abbey Window Cleaning Ltd
Notes to the financial statements
Year ended 28 February 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 24A Cherry Dale Road, Broughton, Chester, Cheshire, CH4 0FA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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:
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 are 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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 and machinery - 25 % straight line
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are 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 or 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to Nil (2018: 2 ).
The aggregate payroll costs incurred during the year were:
2019 2018
£ £
Wages and salaries 18,715 28,117
Other pension costs 241 1,068
_______ _______
18,956 29,185
_______ _______
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 March 2018 and 28 February 2019 20,900 20,900
_______ _______
Amortisation
At 1 March 2018 4,400 4,400
Charge for the year 2,200 2,200
_______ _______
At 28 February 2019 6,600 6,600
_______ _______
Carrying amount
At 28 February 2019 14,300 14,300
_______ _______
At 28 February 2018 16,500 16,500
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 March 2018 and 28 February 2019 2,318 1,267 4,300 7,885
_______ _______ _______ _______
Depreciation
At 1 March 2018 1,190 650 1,849 3,689
Charge for the year 580 317 1,075 1,972
_______ _______ _______ _______
At 28 February 2019 1,770 967 2,924 5,661
_______ _______ _______ _______
Carrying amount
At 28 February 2019 548 300 1,376 2,224
_______ _______ _______ _______
At 28 February 2018 1,128 617 2,451 4,196
_______ _______ _______ _______
7. Creditors: amounts falling due within one year
2019 2018
£ £
Bank loans and overdrafts 3,333 4,360
Corporation tax 2,282 2,749
Other creditors 3,798 7,314
_______ _______
9,413 14,423
_______ _______
8. Creditors: amounts falling due after more than one year
2019 2018
£ £
Other creditors 2,747 3,047
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2019
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Nicholas Milner ( 811) ( 2,387) ( 3,198)
Mr Terrence Milner ( 6,503) 6,503 -
_______ _______ _______
( 7,314) 4,116 ( 3,198)
_______ _______ _______
2018
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Nicholas Milner ( 15,565) 14,754 ( 811)
Mr Terrence Milner ( 12,220) 5,717 ( 6,503)
_______ _______ _______
( 27,785) 20,471 ( 7,314)
_______ _______ _______