Cleanworld Limited - Period Ending 2016-01-31

Registration number: 06490311

Cleanworld Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016
 

Cleanworld Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Cleanworld Limited
(Registration number: 06490311)
Abbreviated Balance Sheet at 31 January 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			1,047			1,353
Current assets
Stocks					30,600			22,150
Debtors					2,661			15,249
Cash at bank and in hand					2,422			4,172
					35,683			41,571
Creditors: Amounts falling due within one year					(43,517)			(40,937)
Net current (liabilities)/assets					(7,834)			634
Net (liabilities)/assets					(6,787)			1,987
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(6,789)			1,985
Shareholders' (deficit)/funds					(6,787)			1,987

For the year ending 31 January 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 13 April 2016

.........................................
N J Manning
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Cleanworld Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on the continued support of the director not requiring the withdrawal of the monies owed to him until sufficient funds are available.

If the company were unable to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Income is recognised based on the date goods are despatched and the level of completion of services.

Depreciation

Tangible fixed assets are initially recorded at cost. Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and equipment	20% reducing balance
Fixtures and fittings	20% reducing balance
Computer equipment	33% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, with certain limited exceptions as required by the Financial Reporting Standard for Smaller Entities. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 2

Cleanworld Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2015		2,702			2,702
At 31 January 2016		2,702			2,702
Depreciation
At 1 February 2015		1,349			1,349
Charge for the year		306			306
At 31 January 2016		1,655			1,655
Net book value
At 31 January 2016		1,047			1,047
At 31 January 2015		1,353			1,353

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

4	Related party transactions

Director's advances and credits

	2016 £		2015 £
N J Manning
Dividends voted	-		6,500
Balance owed to the director at 31 January	31,428		23,889

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