REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended 28 February 2023 |
for |
British Cleaning Council Ltd |
REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended 28 February 2023 |
for |
British Cleaning Council Ltd |
British Cleaning Council Ltd (Registered number: 02128175) |
Contents of the Financial Statements |
for the year ended 28 February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 6 |
British Cleaning Council Ltd |
Company Information |
for the year ended 28 February 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & |
Statutory Auditors |
Pacioli House |
9 Brookfield |
Duncan Close |
Northampton |
Northamptonshire |
NN3 6WL |
British Cleaning Council Ltd (Registered number: 02128175) |
Balance Sheet |
28 February 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
British Cleaning Council Ltd (Registered number: 02128175) |
Notes to the Financial Statements |
for the year ended 28 February 2023 |
1. | STATUTORY INFORMATION |
British Cleaning Council Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in Sterling (£) and cover the period to the end of February each year. |
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. The company is anticipating a significant profit in the next financial year as the upcoming show in London is set to be very successful. Despite the current year loss the balance sheet has positive reserves and healthy cash balances which will sustain the entity through to the London show, thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about British Cleaning Council Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimated and judgements are continually reviewed and are based upon the experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related outcome. The key assumptions and other sources of estimation uncertainty can have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the financial statements. |
The directors have long considered the various judgements, estimates and assumptions made, and they have agreed that there are no material assumption, other than the continuation of the business as a going concern, which warrants disclosure in the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents the invoiced amount of income due to the entity under the profit sharing agreement relating to the joint venture, stated net of value added tax. The turnover and pre tax profit is wholly attributable to the operating activities of the company. Turnover is recognised upon evidence the operation of a critical event. |
Tangible fixed assets |
Computer equipment | - |
British Cleaning Council Ltd (Registered number: 02128175) |
Notes to the Financial Statements - continued |
for the year ended 28 February 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 March 2022 |
and 28 February 2023 |
DEPRECIATION |
At 1 March 2022 |
Charge for year |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
British Cleaning Council Ltd (Registered number: 02128175) |
Notes to the Financial Statements - continued |
for the year ended 28 February 2023 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in joint |
venture |
£ |
COST |
At 1 March 2022 |
and 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | FINANCIAL RISK MANAGEMENT |
The company has some exposure to credit, liquidity and cash flow interest rate risks, These risks are limited by the company's financial management policies and practices described below. |
Credit risk |
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the company by failing to discharge an obligation. The company has limited exposure to credit risk. Predominantly any risks will arise from the joint venture, and the success of each cleaning show. The company reduces the risk through sensible management policies. |
Liquidity risk |
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities. |
Market risk |
There is a market risk associated with the fluctuation in demand each cleaning show staged and most of this risk is mitigated by monitoring the industry and adjusting accordingly. |
The company holds no derivative financial instruments at the year end. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
British Cleaning Council Ltd (Registered number: 02128175) |
Notes to the Financial Statements - continued |
for the year ended 28 February 2023 |
10. | RELATED PARTY DISCLOSURES |
During the year the comapny made no sales (2022 - £119,588) to a joint venture entity, BCC (Exhibitions) Limited. There was no balance outstanding at the year end. |
During the year, the company was invoiced £9,000 (2022 - £6,000) for finance and administration services from a company in which a director of the reporting entity was also a director. There was no balance outstanding at either balance sheet date. |
11. | MEMBERS LIMITED LIABILITY |
The Institute is a company limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company in the event of the same being wound up while they are a member. This contribution, not exceeding £10, covers the payments of debts and liabilities of the company contracted before each individual ceases to be a member and of the costs, charges and expenses of winding-up and for adjustment of the rights of the contributors among themselves. |