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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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GNF CLEANING (ELGIN) LTD |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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GNF CLEANING (ELGIN) LTD |
GNF CLEANING (ELGIN) LTD (REGISTERED NUMBER: SC239929) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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GNF CLEANING (ELGIN) LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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65 High Street |
Grantown on Spey |
Moray |
PH26 3EG |
GNF CLEANING (ELGIN) LTD (REGISTERED NUMBER: SC239929) |
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BALANCE SHEET |
31 MARCH 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
8 |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Allotted, called up and fully paid share
capital |
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Profit and loss - distributable |
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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. |
GNF CLEANING (ELGIN) LTD (REGISTERED NUMBER: SC239929) |
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BALANCE SHEET - continued |
31 MARCH 2017 |
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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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GNF CLEANING (ELGIN) LTD (REGISTERED NUMBER: SC239929) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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GNF Cleaning (Elgin) Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the entity. |
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The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015 and these are the first financial |
statements that comply with FRS102. No transitional adjustments were required in equity or profit and loss for |
the year. |
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Turnover |
Turnover represents net invoiced sales of cleaning services, excluding Value Added Tax. |
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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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Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised |
over its estimated useful life of twenty years. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Fixed assets are stated at cost being purchase price, less accumulated depreciation. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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GNF CLEANING (ELGIN) LTD (REGISTERED NUMBER: SC239929) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax |
rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated |
in the financial statements that arise from the inclusion of income and expense in tax assessments in periods |
different from those in which they are recognised in the financial statements. 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. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, |
non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that |
apply to the sale of the asset. |
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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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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 April 2016 |
and 31 March 2017 |
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AMORTISATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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GNF CLEANING (ELGIN) LTD (REGISTERED NUMBER: SC239929) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2016 |
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Disposals |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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Other creditors includes a loan from a Director, Mr G N Fimister. At the year end this stood at £29,761 (2016: |
£33,255). This loan is granted interest-free, and is repayable when the company has the funds available. |
GNF CLEANING (ELGIN) LTD (REGISTERED NUMBER: SC239929) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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9. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax | 5,000 | 6,994 |
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Deferred |
tax |
£ |
Balance at 1 April 2016 |
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Released during year | (1,994 | ) |
Balance at 31 March 2017 |
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The deferred tax balance consists of accelerated capital allowances. |