Company Registration No. 08665331 (England and Wales)
INTERR CLEANING LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 7 JULY 2019
PAGES FOR FILING WITH REGISTRAR
INTERR CLEANING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
INTERR CLEANING LIMITED
BALANCE SHEET
AS AT
7 JULY 2019
07 July 2019
- 1 -
2019
2018
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
2
9,282
11,466
Tangible assets
3
4,664
8,427
13,946
19,893
Current assets
Debtors
4
882
882
Cash at bank and in hand
68
-
950
882
Creditors: amounts falling due within one year
5
(23,977)
(29,164)
Net current liabilities
(23,027)
(28,282)
Total assets less current liabilities
(9,081)
(8,389)
Provisions for liabilities
(793)
(1,433)
Net liabilities
(9,874)
(9,822)
Capital and reserves
Called up share capital
6
10,109
10,109
Share premium account
88,732
88,732
Profit and loss reserves
(108,715)
(108,663)
Total equity
(9,874)
(9,822)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 November 2019 and are signed on its behalf by:
C J Dean
Director
Company Registration No. 08665331
INTERR CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 7 JULY 2019
- 2 -
1
Accounting policies
Company information

Interr Cleaning Limited is a private company limited by shares incorporated in England and Wales. The registered office is 82 St John Street, London, EC1M 4JN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on the going concern basis and the directors consider that it is appropriate to do so.true

1.3
Reporting period

[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]

1.4
Profit and loss account

The company has not traded during the Period or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.5
Revenue

Revenue represents charges made to a fellow group company where that company has acted as undisclosed agent in fulfilling contract obligations to third parties on the company’s behalf. Where the company deals as disclosed principal with third parties revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

INTERR CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 7 JULY 2019
1
Accounting policies
(Continued)
- 3 -
1.6
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand.

INTERR CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 7 JULY 2019
1
Accounting policies
(Continued)
- 4 -
1.10
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, 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. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

INTERR CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 7 JULY 2019
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Intangible fixed assets
Goodwill
£
Cost
At 8 July 2018 and 7 July 2019
21,840
Amortisation and impairment
At 8 July 2018
10,374
Amortisation charged for the Period
2,184
At 7 July 2019
12,558
Carrying amount
At 7 July 2019
9,282
At 7 July 2018
11,466
INTERR CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 7 JULY 2019
- 6 -
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 8 July 2018
17,405
Additions
748
At 7 July 2019
18,153
Depreciation and impairment
At 8 July 2018
8,978
Depreciation charged in the Period
4,511
At 7 July 2019
13,489
Carrying amount
At 7 July 2019
4,664
At 7 July 2018
8,427
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
882
882
5
Creditors: amounts falling due within one year
2019
2018
£
£
Amounts owed to group undertakings
23,977
29,164
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
10,891 (2018: 5,553) Ordinary A shares of 1p each
109
56
Nil (2018: 5,338) Ordinary B shares of 1p each
-
53
109
109
INTERR CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 7 JULY 2019
6
Called up share capital
(Continued)
- 7 -
Preference share capital
Issued and fully paid
10,000 7% Preference shares of £1 each
10,000
10,000
10,000
10,000

The preference shares are redeemable at the discretion of company. The shares carry a non-cumulative 7% coupon; payment thereof is at the discretion of the company.

Reconciliation of movements during the Period:
Ordinary A
Ordinary B
Number
Number
At 8 July 2018
5,553
5,338
Redesignation of share capital
5,338
(5,338)
At 7 July 2019
10,891
-

 

7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Richard Thacker.
The auditor was Beavis Morgan Audit Limited.
8
Control

The company's immediate parent undertaking is Darkstorm Trading Limited, of which the immediate parent undertaking is Darkstorm Trading Group Limited,

 

Consolidated accounts are prepared for Darkstorm Trading Group Limited and these can be obtained from Companies House. The registered office of Darkstorm Trading Group Limited is 82 St John Street, London, EC1M 4JN.

 

Joachim Georg Ritter is the ultimate controlling party.

9
Related party transactions

At the balance sheet date the company owed £23,977 (2018 - £29,164) to the parent company Darkstorm Trading Limited.

INTERR CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 7 JULY 2019
- 8 -
10
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment at 8 Jul 2017
Adjustment at 7 Jul 2018
As restated at 7 Jul 2018
£
£
£
£
Fixed assets
Goodwill
-
5,460
6,006
11,466
Tangible assets
-
13,683
(5,256)
8,427
Current assets
Debtors due within one year
10,991
16,834
(26,943)
882
Creditors due within one year
Other creditors
-
-
(29,164)
(29,164)
Provisions for liabilities
Deferred tax
-
(2,326)
893
(1,433)
Net assets
10,991
33,651
(54,464)
(9,822)
Capital and reserves
Share premium
882
87,850
-
88,732
Profit and loss
-
(83,363)
(25,300)
(108,663)
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 7 July 2018
£
£
£
Turnover
-
16,887
16,887
Administrative expenses
-
(49,036)
(49,036)
Taxation
-
6,849
6,849
Profit/(loss) for the financial period
-
(25,300)
(25,300)
Reconciliation of changes in equity
8 July
7 July
2017
2018
£
£
Adjustments to prior Period
Transfer of fixed assets
(13,760)
(21,199)
Share Premium
87,850
87,850
Effect of management charges to parent
42,866
59,753
Effect of management charge for agent services
(110,143)
(151,740)
Tax effects
(2,326)
4,523
Total adjustments
4,487
(20,813)
Equity as previously reported
10,109
10,991
Equity as adjusted
14,596
(9,822)
INTERR CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 7 JULY 2019
10
Prior period adjustment
(Continued)
- 9 -
Reconciliation of changes in profit/(loss) for the previous financial period
2018
£
Adjustments to prior Period
Transfer of fixed assets
(7,439)
Effect of management charges to parent
16,887
Effect of management charge for agent services
(41,597)
Tax effects
6,849
Total adjustments
(25,300)
Profit as previously reported
-
Loss as adjusted
(25,300)
Notes to reconciliation

In 2013, the company purchased the cleaning business, assets and liabilities of its parent undertaking in consideration for the issue of ordinary shares and preference shares. Notwithstanding this, the parent undertaking continued to act as undisclosed agent  for the company  following the transfer. In previous years, the directors of the parent undertaking considered that presentation of all contract activity, and associated assets and liabilities, in the accounts of the parent undertaking gave a true and fair view. The directors of the parent undertaking and the company now consider it appropriate, having taken professional advice, to attribute underlying profits from contracts associated with the business transferred to the company, and prior year results have therefore been restated accordingly.

2019-07-072018-07-08false13 November 2019CCH SoftwareCCH Accounts Production 2019.301No description of principal activityThis audit opinion is unqualifiedJ G RitterR G ArnoldM S TaboriC J DeanC J Dean086653312018-07-082019-07-07086653312019-07-0708665331core:NetGoodwill2019-07-0708665331core:NetGoodwill2018-07-07086653312017-07-082018-07-07086653312018-07-0708665331core:FurnitureFittings2019-07-0708665331core:FurnitureFittings2018-07-0708665331core:CurrentFinancialInstruments2019-07-0708665331core:CurrentFinancialInstruments2018-07-0708665331core:ShareCapital2019-07-0708665331core:ShareCapital2018-07-0708665331core:SharePremium2019-07-0708665331core:SharePremium2018-07-0708665331core:RetainedEarningsAccumulatedLosses2019-07-0708665331core:RetainedEarningsAccumulatedLosses2018-07-0708665331core:ShareCapitalOrdinaryShares2019-07-0708665331core:ShareCapitalOrdinaryShares2018-07-0708665331core:ShareCapitalPreferenceShares2019-07-0708665331core:ShareCapitalPreferenceShares2018-07-0708665331bus:CompanySecretaryDirector12018-07-082019-07-0708665331core:Goodwill2018-07-082019-07-0708665331core:FurnitureFittings2018-07-082019-07-0708665331core:NetGoodwill2018-07-0708665331core:NetGoodwill2018-07-082019-07-0708665331core:FurnitureFittings2018-07-0708665331core:WithinOneYear2019-07-0708665331core:WithinOneYear2018-07-0708665331core:ContinuingOperations2017-07-082018-07-0708665331bus:PrivateLimitedCompanyLtd2018-07-082019-07-0708665331bus:SmallCompaniesRegimeForAccounts2018-07-082019-07-0708665331bus:FRS1022018-07-082019-07-0708665331bus:Audited2018-07-082019-07-0708665331bus:Director12018-07-082019-07-0708665331bus:Director22018-07-082019-07-0708665331bus:Director32018-07-082019-07-0708665331bus:Director42018-07-082019-07-0708665331bus:CompanySecretary12018-07-082019-07-0708665331bus:FullAccounts2018-07-082019-07-07xbrli:purexbrli:sharesiso4217:GBP