Registration number:
Hygienic Finishes (South) Ltd
for the Year Ended 30 November 2017
Hygienic Finishes (South) Ltd
Contents
Balance Sheet |
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Notes to the Financial Statements |
Hygienic Finishes (South) Ltd
(Registration number: 09891796)
Balance Sheet
30 November 2017
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2017 |
2016 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Hygienic Finishes (South) Ltd
(Registration number: 09891796)
Balance Sheet
30 November 2017
For the financial year ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
G J Collingwood
Director
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Hygienic Finishes (South) Ltd
Notes to the Financial Statements
Year Ended 30 November 2017
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & machinery |
25% on the reducing balance |
Office equipment |
25% straight line |
Motor vehicles |
25% on the reducing balance |
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Hygienic Finishes (South) Ltd
Notes to the Financial Statements
Year Ended 30 November 2017
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Over 10 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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Hygienic Finishes (South) Ltd
Notes to the Financial Statements
Year Ended 30 November 2017
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 December 2016 |
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At 30 November 2017 |
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Amortisation |
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At 1 December 2016 |
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Amortisation charge |
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At 30 November 2017 |
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Carrying amount |
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At 30 November 2017 |
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At 30 November 2016 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2016 - £Nil).
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Hygienic Finishes (South) Ltd
Notes to the Financial Statements
Year Ended 30 November 2017
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 December 2016 |
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Additions |
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At 30 November 2017 |
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Depreciation |
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At 1 December 2016 |
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Charge for the period |
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At 30 November 2017 |
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Carrying amount |
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At 30 November 2017 |
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At 30 November 2016 |
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Included within the net book value of land and buildings above is £Nil (2016 - £Nil) in respect of freehold land and buildings .
Debtors |
2017 |
2016 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Hygienic Finishes (South) Ltd
Notes to the Financial Statements
Year Ended 30 November 2017
Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Corporation tax liability |
23,725 |
5,941 |
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7 |