Company Registration No. 05595775 (England and Wales)
CLEANSMART LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
CLEANSMART LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
CLEANSMART LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
62,920
59,170
Tangible assets
2
76,508
91,844
139,428
151,014
Current assets
Stocks
114,133
98,997
Debtors
17,437
36,503
Cash at bank and in hand
123,183
108,238
254,753
243,738
Creditors: amounts falling due within one year
3
(120,488)
(162,660)
Net current assets
134,265
81,078
Total assets less current liabilities
273,693
232,092
Creditors: amounts falling due after more than one year
(13,660)
(20,635)
Provisions for liabilities
(26,219)
(28,073)
233,814
183,384
Capital and reserves
Called up share capital
4
1
1
Profit and loss account
233,813
183,383
Shareholders' funds
233,814
183,384
CLEANSMART LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 7 December 2016
M Flewitt
Director
Company Registration No. 05595775
CLEANSMART LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the director is satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Leasehold improvements
10% straight line basis
Tooling and equipment
10% straight line basis
Fixtures and fittings
25% straight line basis
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.7
Government grants
Grants towards revenue expenditure are
credited to the
profit and loss account as the related expenditure is incurred.
CLEANSMART LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
59,169
163,109
222,278
Additions
3,751
1,110
4,861
At 31 March 2016
62,920
164,219
227,139
Depreciation
At 1 April 2015
-
71,265
71,265
Charge for the year
-
16,446
16,446
At 31 March 2016
-
87,711
87,711
Net book value
At 31 March 2016
62,920
76,508
139,428
At 31 March 2015
59,170
91,844
151,014
3
Creditors
The aggregate amount of creditors for which security has been given amounted to £20,436 (2015 - £27,111).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1
1
1