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Unaudited Financial Statements |
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for the Year Ended 30 April 2018 |
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for |
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DCS Cleaning Network Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2018 |
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for |
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DCS Cleaning Network Limited |
DCS Cleaning Network Limited (Registered number: 03930274) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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DCS Cleaning Network Limited |
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Company Information |
for the Year Ended 30 April 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
and Business Advisers |
Coburg House |
1 Coburg Street |
Gateshead |
Tyne & Wear |
NE8 1NS |
DCS Cleaning Network Limited (Registered number: 03930274) |
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Balance Sheet |
30 April 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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DCS Cleaning Network Limited (Registered number: 03930274) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2018 |
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1. | STATUTORY INFORMATION |
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DCS Cleaning Network Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts |
receivable for services rendered, stated net of discounts and of Value Added Tax. |
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The company recognises revenue when the amount of revenue can be measured reliably, when it is probable |
that future economic benefits will flow to the entity. |
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Rendering of services: |
The company provides commercial cleaning services. When the outcome of a transaction for the provision of |
services can be estimated reliably in terms of revenue, costs, and its stage of completion, the company |
recognises revenue on the sales of services in the reporting period in which the services are rendered by |
reference to the stage of completion of the specific transaction at the end of the reporting period. The stage of |
completion is determined on the basis of the actual completion of a proportion of the total services to be |
rendered. |
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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. |
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Tangible fixed assets |
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment |
losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated |
useful life: |
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Plant and machinery etc. | - 33% on cost, 25% on reducing balance and 15% on reducing balance |
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Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those |
assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable |
amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable |
amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss |
is recognised immediately in profit and loss. |
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If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised |
estimate of its recoverable amount, but not in excess of the amount that would have been determined had no |
impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised |
immediately in profit or loss. |
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Stocks |
Stocks have been valued at the lower of cost and estimated selling price less costs to sell. |
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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 accounts receivable and payable, loans from banks and other third |
parties, loans to related parties and investments on non-puttable ordinary shares. |
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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. |
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DCS Cleaning Network Limited (Registered number: 03930274) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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3. | ACCOUNTING POLICIES - continued |
Taxation |
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A |
current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a |
previous period. |
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Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses |
in the financial statements and their inclusion in tax assessments. |
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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 and other future taxable profits. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
reporting date and that are expected to apply to the reversal of the timing difference. |
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Current and deferred tax assets and liabilities are not discounted. |
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Leasing |
Assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same |
manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in |
creditors. |
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Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over |
the period of the lease. |
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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. |
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Employee benefits |
Short term employee benefits are recognised as an expense in the period in which they are incurred. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 May 2017 |
and 30 April 2018 |
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AMORTISATION |
At 1 May 2017 |
and 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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DCS Cleaning Network Limited (Registered number: 03930274) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 May 2017 |
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Additions |
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At 30 April 2018 |
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DEPRECIATION |
At 1 May 2017 |
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Charge for year |
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At 30 April 2018 |
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NET BOOK VALUE |
At 30 April 2018 |
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At 30 April 2017 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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Trade debtors include sales ledger financing debts of £360,705 (2017: £138,216). |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts (see note 10) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts (see note 10) |
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10. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2018 | 2017 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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The net book value of assets held under hire purchase contracts is £nil (2017: £nil) |
DCS Cleaning Network Limited (Registered number: 03930274) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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10. | LEASING AGREEMENTS - continued |
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Non-cancellable operating |
leases |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdrafts |
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Hire purchase contracts | 17,038 | 30,060 |
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Assets purchased under hire purchase contracts are secured against the asset to which they relate. Bank |
overdrafts and factoring are secured by way of a debenture over all assets of the company. |