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REGISTERED NUMBER:
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HOUSTON CLEANING SERVICES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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REGISTERED NUMBER:
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HOUSTON CLEANING SERVICES LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2018 |
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HOUSTON CLEANING SERVICES LIMITED (REGISTERED NUMBER: SC441514) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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Chartered Accountants' Report | 8 |
HOUSTON CLEANING SERVICES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2018 |
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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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Chartered Accountants |
Abercorn House |
79 Renfrew Road |
Paisley |
Renfrewshire |
PA3 4DA |
HOUSTON CLEANING SERVICES LIMITED (REGISTERED NUMBER: SC441514) |
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BALANCE SHEET |
31 MARCH 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank |
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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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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
HOUSTON CLEANING SERVICES LIMITED (REGISTERED NUMBER: SC441514) |
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BALANCE SHEET - continued |
31 MARCH 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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HOUSTON CLEANING SERVICES LIMITED (REGISTERED NUMBER: SC441514) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2018 |
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1. | STATUTORY INFORMATION |
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Houston Cleaning Services 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 nature of the Company's operations and its principal activity was that of cleaning services. |
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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 Company. Monetary |
amounts in these financial statements are rounded to the nearest £. |
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Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the Company |
has adequate resources to continue in operational existence for the foreseeable future. Thus the directors |
continue to adopt the going concern basis of accounting in preparing the financial statements. |
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Critical accounting judgements and key sources of estimation uncertainty |
In preparing these financial statements, the directors have made the following judgements: |
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Tangible fixed assets are depreciated over their useful lives taking into account residual values, where |
appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending |
on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life |
cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as |
future market conditions, the remaining life of the asset and projected disposal values. |
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Assets are considered for indications of impairment. If required an impairment review will be carried out and a |
decision made on possible impairment. Factors taken into consideration in reaching such a decision include the |
economic viability and expected future financial performance of the asset and where it is a component of a larger |
cash-generating unit, the viability and expected future performance of that unit. |
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Bad debts are provided for where objective evidence of the need for a provision exists. |
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Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to |
be sold, or where stock is sold post year end at a loss. |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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HOUSTON CLEANING SERVICES LIMITED (REGISTERED NUMBER: SC441514) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' |
Other Financial Instruments Issues' 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. |
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Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction |
price including transactions 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. |
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Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are |
settled, or when the Company transfers the financial asset and substantially all the risks and rewards of |
ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the |
asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
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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. |
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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. |
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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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Cash and cash equivalents |
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks |
and other short-term liquid investments with original maturities of three months or less. |
HOUSTON CLEANING SERVICES LIMITED (REGISTERED NUMBER: SC441514) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Impairment of assets |
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet |
date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described |
below. |
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Non-financial assets |
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after |
initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an |
asset is the higher of its fair value less costs to sell and its value in use. |
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Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine |
reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable |
value does not lead to a revised carrying amount higher than the carrying value had no impairment been |
recognised. |
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Financial assets |
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's |
carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original |
effective interest rate. |
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For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's |
carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at |
the reporting date. |
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Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event |
occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. |
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An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable |
value does not lead to a revised carrying amount higher than the carrying value had no impairment been |
recognised. |
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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. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
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COST |
At 1 April 2017 |
and 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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HOUSTON CLEANING SERVICES LIMITED (REGISTERED NUMBER: SC441514) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2018 |
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5. | STOCKS |
2018 | 2017 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Value added tax | 11,243 | 11,031 |
Directors' current accounts | 11,968 | 9,361 |
Accrued expenses |
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8. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 44 | 69 |
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Deferred |
tax |
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Balance at 1 April 2017 |
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Profit and loss account | (25 | ) |
Balance at 31 March 2018 |
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9. | RELATED PARTY DISCLOSURES |
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During the period the company received interest free loans from its directors. The balance due on these loans at |
the balance sheet date was £11,968 (2017: £9,361). |
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10. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party as no individual shareholder can act in isolation. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
HOUSTON CLEANING SERVICES LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Houston Cleaning Services Limited for the year ended 31 March 2018 which comprise the |
Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records |
and from information and explanations you have given us. |
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As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Houston Cleaning Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Houston Cleaning Services Limited and state those matters that we have agreed to state to the Board of Directors of Houston Cleaning Services Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Houston Cleaning Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Houston Cleaning Services Limited. You consider that Houston Cleaning Services Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Houston Cleaning Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
Abercorn House |
79 Renfrew Road |
Paisley |
Renfrewshire |
PA3 4DA |
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