Atlantic Cleaning Centre Company Ltd - Accounts to registrar (filleted) - small 18.2
Atlantic Cleaning Centre Company Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 June 2018 |
| for |
| Atlantic Cleaning Centre Company Ltd |
| Atlantic Cleaning Centre Company Ltd (Registered number: 01613307) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Atlantic Cleaning Centre Company Ltd |
| Company Information |
| for the Year Ended 30 June 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Unit C Anchor House |
| School Lane |
| Chandlers ford |
| Eastleigh |
| Hampshire |
| SO53 4DY |
| Atlantic Cleaning Centre Company Ltd (Registered number: 01613307) |
| Balance Sheet |
| 30 June 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| 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. |
| Atlantic Cleaning Centre Company Ltd (Registered number: 01613307) |
| Balance Sheet - continued |
| 30 June 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| Atlantic Cleaning Centre Company Ltd (Registered number: 01613307) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2018 |
| 1. | STATUTORY INFORMATION |
| Atlantic Cleaning Centre Company Ltd is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| In preparing these financial statements, the directors have made the following judgements: |
| - Determine whether leases entered into by the company as a lessee are operating leases or financial leases. |
| These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred |
| from the lessor to the lessee on a lease by lease basis. |
| - Determine whether there are indicators of impairment of the company's tangible assets. Factors taken into |
| consideration in reaching such a decision include the economic viability and expected future financial |
| performance of the asset. |
| - The company accrues holiday pay at the balance sheet date based on the carrying forward of holiday |
| entitlement at the directors discretion. When determining the value of any holiday pay accrual, the directors are |
| required to estimate the holiday entitlement due whilst factoring in the employee's salary rates. |
| Turnover |
| Turnover represents the provision of dry cleaning services, stated net of VAT and is recognised at the point of |
| sale. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised over its |
| estimated economic life of 5 years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following |
| annual rate 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. |
| Land and buildings - 2% on notional building cost |
| Plant and machinery - 10% on cost |
| Fixtures and fittings - 10% on cost |
| Motor vehicles - 15% on cost |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Atlantic Cleaning Centre Company Ltd (Registered number: 01613307) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| Holiday pay |
| A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance |
| sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future |
| entitlement so accrued at the balance sheet date. |
| Short-term debtors and creditors |
| Debtors and Creditors receivable and payable within one year or on demand are recorded at transaction price |
| whether or not a rate of interest is charged on the balance. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Atlantic Cleaning Centre Company Ltd (Registered number: 01613307) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 July 2017 |
| Disposals | ( |
) |
| At 30 June 2018 |
| AMORTISATION |
| At 1 July 2017 |
| Eliminated on disposal | ( |
) |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 July 2017 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| Reclassification/transfer | ( |
) | ( |
) |
| At 30 June 2018 |
| DEPRECIATION |
| At 1 July 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| Atlantic Cleaning Centre Company Ltd (Registered number: 01613307) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 July 2017 |
| Disposals | ( |
) |
| Reclassification/transfer | ( |
) |
| At 30 June 2018 |
| DEPRECIATION |
| At 1 July 2017 |
| Eliminated on disposal | ( |
) |
| At 30 June 2018 |
| NET BOOK VALUE |
| At 30 June 2018 |
| At 30 June 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Social security and other taxes |
| Wages control | 9,601 | - |
| Pension control | 103 | - |
| VAT | 5,155 | 22,547 |
| Other creditors |
| Directors' current accounts | 98,705 | 84,275 |
| Accruals and deferred income |
| Atlantic Cleaning Centre Company Ltd (Registered number: 01613307) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans (see note 9) |
| Hire purchase contracts (see note 10) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 55,244 | 58,572 |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 55,244 | 58,572 |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 2018 | 2017 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Atlantic Cleaning Centre Company Ltd (Registered number: 01613307) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2018 |
| 10. | LEASING AGREEMENTS - continued |
| Non-cancellable operating |
| leases |
| 2018 | 2017 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 30 June 2018 and |
| 30 June 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |