Goldcrest Cleaning Limited - Accounts to registrar (filleted) - small 18.2
Goldcrest Cleaning Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
FOR |
GOLDCREST CLEANING LIMITED |
GOLDCREST CLEANING LIMITED (REGISTERED NUMBER: 04271766) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 October 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
GOLDCREST CLEANING LIMITED |
COMPANY INFORMATION |
for the year ended 31 October 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Magma House |
16 Davy Court |
Castle Mound Way |
Rugby |
CV23 0UZ |
GOLDCREST CLEANING LIMITED (REGISTERED NUMBER: 04271766) |
BALANCE SHEET |
31 October 2019 |
2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
GOLDCREST CLEANING LIMITED (REGISTERED NUMBER: 04271766) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 October 2019 |
1. | STATUTORY INFORMATION |
Goldcrest Cleaning Limited is a limited company, registered in England and Wales. Its registered office address |
is and the 22 Fields Court, Warwickshire, CV34 5HP and the registered number is 04271766. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Consolidation |
The company and its parent form a small group. The company is therefore not required to produce consolidated |
financial statements as has not done so. These financial statements present information about the company as a |
single entity. |
Turnover |
The turnover shown in the profit and loss account represents the provision of cleaning services throughout the |
year, exclusive of Value Added Tax. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based |
on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and |
attributable overheads. |
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is |
reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in |
profit or loss. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial |
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to |
related parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period |
for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is |
recognised in profit or loss. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
the asset and settle the liability simultaneously. |
GOLDCREST CLEANING LIMITED (REGISTERED NUMBER: 04271766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2019 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
The tax expense for the year comprises current and deferred tax. |
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised |
as other comprehensive income or to an item recognised directly in equity is also recognised in other |
comprehensive income or directly in equity respectively. |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
the Balance Sheet date, except that: |
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered |
against the reversal of deferred tax liabilities or other future taxable profits; and |
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have |
been met. |
Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date. |
Operating leases |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line |
basis over the period until the date the rent is expected to be adjusted to the prevailing market rate. |
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. |
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
using the effective interest method, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and |
other short-term highly liquid investments that mature in no more than three months from the date of acquisition |
and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related |
parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, |
where the debt instrument is measured at the present value of the future payments discounted at a market rate |
of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less |
any impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2018 - |
GOLDCREST CLEANING LIMITED (REGISTERED NUMBER: 04271766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2019 |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 November 2018 |
Additions |
At 31 October 2019 |
DEPRECIATION |
At 1 November 2018 |
Charge for year |
At 31 October 2019 |
NET BOOK VALUE |
At 31 October 2019 |
At 31 October 2018 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
8. | RELATED PARTY DISCLOSURES |
At the year end the parent company, Babylon Enterprises Ltd, owed Goldcrest Cleaning Ltd £7,343 (2018 - |
£1,343) |
Two of the Directors of this company are also directors and controlling shareholders of Seven Springs Vineyard |
PTY Ltd a company registered in South Africa. At the year end Seven Springs Vineyard PTY Ltd owed |
Goldcrest Cleaning Ltd £48,384 (2018 - £48,384). |
The company has received a loan from the Heritage Pension Fund amounting to £150,000 , a fund in which one |
of the Directors of this company is a beneficiary. At the year end the company owed the Heritage Pension Fund |
£85,000 which is disclosed within creditors due within and after one year. |
GOLDCREST CLEANING LIMITED (REGISTERED NUMBER: 04271766) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2019 |
9. | POST BALANCE SHEET EVENTS |
Since the balance sheet date the world has suffered a COVID-19 outbreak, which has resulted in significant |
uncertainties caused by the social and economic restrictions imposed globally. |
The directors have considered the effect this may have had on the company , and deem it too early to be able to |
fully quantify the impact on the operations of the company |
It is unclear what impact this will have on the trade of the company , and will be dependent upon the rate at |
which the UK economy can recover from the pandemic. However the directors believe any impact will be |
temporary in nature. An estimate of the financial effect cannot therefore be made. |