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REGISTERED NUMBER: 04167453 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements

for the Year Ended 31 October 2023

for

Intercleanse Limited

Intercleanse Limited (Registered number: 04167453)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4 to 7

Income Statement 8

Other Comprehensive Income 9

Statement of Financial Position 10

Statement of Changes in Equity 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 14 to 21


Intercleanse Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: D A Brown
A S Hayman





SECRETARY: D A Brown





REGISTERED OFFICE: 69 Gatwick Road
Crawley
West Sussex
RH10 9RD





REGISTERED NUMBER: 04167453 (England and Wales)





AUDITORS: Charcroft Baker LLP
Statutory Auditors
5 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD

Intercleanse Limited (Registered number: 04167453)

Strategic Report
for the Year Ended 31 October 2023

The directors present their strategic report for the year ended 31 October 2023.

The company continues to primarily provide high quality valeting services to the motor industry operating within new car main dealerships.The strategies employed by the company have remained fundamentally the same as in previous years, the directors choosing to focus on expanding the company's traditional market of main dealerships in the south east of England.

REVIEW OF BUSINESS
The directors are pleased to report that turnover has increased by 10.3% on the previous year. Despite pressures on materials and labour costs, overall the gross profit percentage remains strong at 19.9%. Administrative expenses have increased 14.9% on the previous year, resulting in a marginal decrease in the net profit margin before tax to 3.5%. Overall the directors are pleased with the results in a challenging operating environment.

Furthermore the company has benefitted from a continuation of its low turnover of key staff which ensures contacts within the industry remain strong.

At the end of the financial reporting period the financial statements show a promising position with profits in line with the previous year. The balance sheet remains strong with considerable reserves, this further solidifies the going concern assessment of the company.

PRINCIPAL RISKS AND UNCERTAINTIES
Working in the motor industry the company is susceptible to changes in the UK economy as this could significantly affect both new car sales and the number of customers visiting main dealerships for servicing requirements. The company operates at dealerships at all levels within the industry supplying from basic cheaper vehicles through to luxury high-end marques. This helps to minimise the risk in a downturn whilst maximising growth during economic growth.

As with many companies the maintenance of staff is key to the ongoing success of the company. As mentioned above, turnover of key personnel has remained low but this does not remove an element of uncertainty for the future.

ON BEHALF OF THE BOARD:





A S Hayman - Director


30 July 2024

Intercleanse Limited (Registered number: 04167453)

Report of the Directors
for the Year Ended 31 October 2023

The directors present their report with the financial statements of the company for the year ended 31 October 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of cleaning services.

DIVIDENDS
The total distribution of dividends for the year ended 31 October 2023 will be £ 623,600 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report.

D A Brown
A S Hayman

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Charcroft Baker LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A S Hayman - Director


30 July 2024

Report of the Independent Auditors to the Members of
Intercleanse Limited

Opinion
We have audited the financial statements of Intercleanse Limited (the 'company') for the year ended 31 October 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 October 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Intercleanse Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Intercleanse Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that the company operates in, including those on provisions of those laws and regulations where the consequences of non-compliance could have a material effect on the determination of amounts and disclosures in the financial statements. The key laws and regulations we considered included FRS 102, the Companies Act 2006 along with tax, employment, data protection and health and safety legislation.

We considered the opportunities and incentives that may exist within the organisation for fraud, including the risk of management override of controls.

We clearly communicated the risk of fraud and non-compliance with the identified significant laws and regulations to all engagement team members from the planning stages of the audit and remained vigilant for indications of these throughout the audit.

We investigated and obtained an understanding of the following in our assessment of the risk of
misstatement:

- the nature of the Company's operations, from sourcing materials and labour through to revenue sources and the mechanics of the operations involved;
- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies;
- results of our enquiries of management about their own identification and assessment of the risks of irregularities; and
- any matters we identified having enquired into the policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- the appropriateness of accounting policies in accordance with current accounting standards;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above, key potential risk areas we identified being:

- Revenue recognition
- Related party transactions
- Management override of controls

Our procedures to respond to risks identified included the following:

- substantive testing in order to obtain sufficient audit evidence for the figures and disclosures within the financial statements;
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- ensuring appropriate knowledge and resources within the engagement team
- testing of related party transactions and awareness of the possibility of related party relationships throughout sample testing;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and

Report of the Independent Auditors to the Members of
Intercleanse Limited

- testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Based on the work we have performed, we have not identified any material matters in relation to
non-compliance with laws and regulations or in relation to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Andrew Drinkwater FCCA FCA (Senior Statutory Auditor)
for and on behalf of Charcroft Baker LLP
Statutory Auditors
5 West Court
Enterprise Road
Maidstone
Kent
ME15 6JD

30 July 2024

Intercleanse Limited (Registered number: 04167453)

Income Statement
for the Year Ended 31 October 2023

2023 2022
Notes £    £   

TURNOVER 25,570,580 23,179,270

Cost of sales 20,483,667 18,747,555
GROSS PROFIT 5,086,913 4,431,715

Administrative expenses 4,155,132 3,373,248
OPERATING PROFIT 4 931,781 1,058,467

Interest receivable and similar income 206 2,496
931,987 1,060,963

Interest payable and similar expenses 5 23,071 20,554
PROFIT BEFORE TAXATION 908,916 1,040,409

Tax on profit 6 257,994 215,998
PROFIT FOR THE FINANCIAL YEAR 650,922 824,411

Intercleanse Limited (Registered number: 04167453)

Other Comprehensive Income
for the Year Ended 31 October 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 650,922 824,411


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

650,922

824,411

Intercleanse Limited (Registered number: 04167453)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 1,021,338 802,466

CURRENT ASSETS
Debtors 9 4,922,487 4,380,175
Cash at bank and in hand 62,005 164,415
4,984,492 4,544,590
CREDITORS
Amounts falling due within one year 10 3,338,395 2,712,770
NET CURRENT ASSETS 1,646,097 1,831,820
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,667,435

2,634,286

CREDITORS
Amounts falling due after more than one
year

11

(199,569

)

(192,276

)

PROVISIONS FOR LIABILITIES 16 (77,682 ) (79,148 )
NET ASSETS 2,390,184 2,362,862

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 2,390,084 2,362,762
SHAREHOLDERS' FUNDS 2,390,184 2,362,862

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





A S Hayman - Director


Intercleanse Limited (Registered number: 04167453)

Statement of Changes in Equity
for the Year Ended 31 October 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 November 2021 100 2,141,951 2,142,051

Changes in equity
Dividends - (603,600 ) (603,600 )
Total comprehensive income - 824,411 824,411
Balance at 31 October 2022 100 2,362,762 2,362,862

Changes in equity
Dividends - (623,600 ) (623,600 )
Total comprehensive income - 650,922 650,922
Balance at 31 October 2023 100 2,390,084 2,390,184

Intercleanse Limited (Registered number: 04167453)

Statement of Cash Flows
for the Year Ended 31 October 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 800,535 1,322,766
Interest element of hire purchase
payments paid

(23,071

)

(20,554

)
Tax paid (202,168 ) (183,798 )
Net cash from operating activities 575,296 1,118,414

Cash flows from investing activities
Purchase of tangible fixed assets (555,163 ) (498,755 )
Sale of tangible fixed assets 17,348 58,404
Interest received 205 2,496
Net cash from investing activities (537,610 ) (437,855 )

Cash flows from financing activities
Capital repayments in year 76,989 185,682
Amount introduced by directors 425,200 784,841
Amount withdrawn by directors (526,849 ) (717,216 )
Equity dividends paid (623,600 ) (603,600 )
Net cash from financing activities (648,260 ) (350,293 )

(Decrease)/increase in cash and cash equivalents (610,574 ) 330,266
Cash and cash equivalents at
beginning of year

2

(361,975

)

(692,241

)

Cash and cash equivalents at end of
year

2

(972,549

)

(361,975

)

Intercleanse Limited (Registered number: 04167453)

Notes to the Statement of Cash Flows
for the Year Ended 31 October 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 908,916 1,040,409
Depreciation charges 299,533 218,962
Loss/(profit) on disposal of fixed assets 19,411 (7,646 )
Finance costs 23,071 20,554
Finance income (206 ) (2,496 )
1,250,725 1,269,783
(Increase)/decrease in trade and other debtors (440,663 ) 40,599
(Decrease)/increase in trade and other creditors (9,527 ) 12,384
Cash generated from operations 800,535 1,322,766

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 October 2023
31/10/23 1/11/22
£    £   
Cash and cash equivalents 62,005 164,415
Bank overdrafts (1,034,554 ) (526,390 )
(972,549 ) (361,975 )
Year ended 31 October 2022
31/10/22 1/11/21
£    £   
Cash and cash equivalents 164,415 142,270
Bank overdrafts (526,390 ) (834,511 )
(361,975 ) (692,241 )


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/11/22 Cash flow At 31/10/23
£    £    £   
Net cash
Cash at bank and in hand 164,415 (102,410 ) 62,005
Bank overdrafts (526,390 ) (508,164 ) (1,034,554 )
(361,975 ) (610,574 ) (972,549 )
Debt
Finance leases (342,055 ) (76,989 ) (419,044 )
(342,055 ) (76,989 ) (419,044 )
Total (704,030 ) (687,563 ) (1,391,593 )

Intercleanse Limited (Registered number: 04167453)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Intercleanse Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are no judgements in relation to specific accounting policies that have a material effect on the amounts recognised within these financial statements.

There are no key sources of estimation or key assumptions concerning the future that carry a significant risk of resulting in a material adjustment to the carrying amounts of any assets or liabilities within the next financial year.

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 from the rendering of services, is recognised by reference to the stage of completion of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


Intercleanse Limited (Registered number: 04167453)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 2,334,641 2,048,397
Social security costs 238,299 287,742
Other pension costs 164,617 165,320
2,737,557 2,501,459

The average number of employees during the year was as follows:
2023 2022

Management 2 2
Administrative 70 67
72 69

2023 2022
£    £   
Directors' remuneration 109,785 74,871
Directors' pension contributions to money purchase schemes 64,205 152,266

Directors received additional benefits in kind with a value of £48,090 (2022: £61,858) during the year.

Intercleanse Limited (Registered number: 04167453)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Other operating leases 80,000 72,000
Depreciation - owned assets 165,446 129,254
Depreciation - assets on hire purchase contracts 134,086 89,709
Loss/(profit) on disposal of fixed assets 19,411 (7,646 )
Auditors' remuneration 10,500 10,500
Other non- audit services 3,900 3,930

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Hire purchase 23,071 20,554

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 259,460 205,149

Deferred tax (1,466 ) 10,849
Tax on profit 257,994 215,998

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 908,916 1,040,409
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2022 - 19%)

227,229

197,678

Effects of:
Expenses not deductible for tax purposes 60,907 6,593
Capital allowances in excess of depreciation (75 ) -
Depreciation in excess of capital allowances - 878
Deferred tax movement (1,466 ) 10,849
Effect of change in tax rate during the period (28,601 ) -
Total tax charge 257,994 215,998

Intercleanse Limited (Registered number: 04167453)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 623,600 603,600

8. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 902,738 803,423 1,706,161
Additions 192,208 362,955 555,163
Disposals (54,211 ) (98,254 ) (152,465 )
At 31 October 2023 1,040,735 1,068,124 2,108,859
DEPRECIATION
At 1 November 2022 539,244 364,451 903,695
Charge for year 128,253 171,279 299,532
Eliminated on disposal (42,186 ) (73,520 ) (115,706 )
At 31 October 2023 625,311 462,210 1,087,521
NET BOOK VALUE
At 31 October 2023 415,424 605,914 1,021,338
At 31 October 2022 363,494 438,972 802,466

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 - 471,634 471,634
Additions 39,280 213,489 252,769
Disposals - (9,716 ) (9,716 )
Transfer to ownership - (39,541 ) (39,541 )
At 31 October 2023 39,280 635,866 675,146
DEPRECIATION
At 1 November 2022 - 104,862 104,862
Charge for year 8,373 125,713 134,086
Eliminated on disposal - (4,118 ) (4,118 )
Transfer to ownership - (21,399 ) (21,399 )
At 31 October 2023 8,373 205,058 213,431
NET BOOK VALUE
At 31 October 2023 30,907 430,808 461,715
At 31 October 2022 - 366,772 366,772

Intercleanse Limited (Registered number: 04167453)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 3,788,604 3,271,184
Other debtors 294,750 274,131
Staff loans 20,000 20,000
Related party loans - 97,376
Directors' current accounts 818,865 717,216
4,922,219 4,379,907

Amounts falling due after more than one year:
Retentions 268 268

Aggregate amounts 4,922,487 4,380,175

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 12) 1,034,554 526,390
Hire purchase contracts (see note 13) 219,475 149,779
Trade creditors 734,411 776,042
Tax 259,326 202,034
Social security and other taxes 65,536 60,988
VAT 582,846 601,788
Other creditors 263,382 246,567
Related party loans 152,715 86,937
Accrued expenses 26,150 62,245
3,338,395 2,712,770

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 13) 199,569 192,276

12. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 1,034,554 526,390

Intercleanse Limited (Registered number: 04167453)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

13. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 219,475 149,779
Between one and five years 199,569 192,276
419,044 342,055

Non-cancellable operating leases
2023 2022
£    £   
Within one year 28,535 22,146
Between one and five years 21,718 8,267
50,253 30,413

14. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank Loans 1,034,554 526,390

The loans are secured by way of a fixed and floating charge over the company and all its property and assets. The directors have also joint and severally given a personal guarantee on these loans of £80,000.

15. FINANCIAL INSTRUMENTS

The trade debtors balance includes £1,034,554 (2022: £526,390) which is covered by an invoice discounting arrangement. These assets are recognised as the company remains ultimately responsible for any unpaid balances, the significant risks and rewards being retained by the company.

16. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 77,682 79,148

Deferred
tax
£   
Balance at 1 November 2022 79,148
Credit to Income Statement during year (1,466 )
Balance at 31 October 2023 77,682

Intercleanse Limited (Registered number: 04167453)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary £1 50 50
50 Ordinary A £1 50 50
100 100

Ordinary and Ordinary A shares are both entitled to one vote per share, have the right to participate in dividends, have the right to participate in capital on a winding up, and are not liable to be redeemed.

18. RESERVES
Retained
earnings
£   

At 1 November 2022 2,362,762
Profit for the year 650,922
Dividends (623,600 )
At 31 October 2023 2,390,084

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
D A Brown
Balance outstanding at start of year 451,363 514,556
Amounts advanced 271,925 148,007
Amounts repaid (211,200 ) (211,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 512,088 451,363

A S Hayman
Balance outstanding at start of year 265,853 270,285
Amounts advanced 147,924 67,568
Amounts repaid (107,000 ) (72,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 306,777 265,853

A positive balance on the above loans represents inclusion within other debtors. These loans are unsecured, interest free and repayable on demand.

Intercleanse Limited (Registered number: 04167453)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

20. RELATED PARTY DISCLOSURES

Intercleanse Cleaning Services Ltd
A company under common control.

Purchases of £192,542 (2022 : £108,777)
Sales of £36,923 (2022 : £5,779)

The companies trade under normal commercial terms.

At the year end the company owed £152,715 (2022: £86,937) to Intercleanse Cleaning Limited in
respect of a loan. The loan was interest free, unsecured and repayable on demand.



Widmore Properties Limited
A company under common control.

At the year end the company was owed £NIL (2022: £97,376) by Widmore Properties Limited in
respect of a loan. The loan is interest free, unsecured and repayable on demand. The loan balance of
£111,376 was written off during the year.

During the year, a total of key management personnel compensation of £ 533,880 (2022 - £ 590,796 ) was paid.

Key Management Personnel

Key management personnel consists solely of the Directors. The Directors received salaries, benefits in kind, pension contributions and dividends during the year. Dividends of £311,800 (2022: £301,800) are included in compensation.