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Registration number: 12661118

Clean Engineering Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Clean Engineering Limited

Contents

Company Information

1

Balance Sheet

2 - 3

Notes to the Unaudited Financial Statements

4 - 7

 

Clean Engineering Limited

Company Information

Directors

Richard Bruges

Kushal Kumar

Registered office

86-90 Paul Street
London
EC4A 4NE

Accountants

SA Ledgers Ltd
Chartered Accountants
57 Canbury Park Road
Kingston
KT2 6LQ

 

Clean Engineering Limited

(Registration number: 12661118)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

4

165,275

165,275

Current assets

 

Debtors

5

564

855

Cash at bank and in hand

 

6,489

13,476

 

7,053

14,331

Creditors: Amounts falling due within one year

6

(108)

-

Net current assets

 

6,945

14,331

Total assets less current liabilities

 

172,220

179,606

Creditors: Amounts falling due after more than one year

6

(360,000)

(325,000)

Net liabilities

 

(187,780)

(145,394)

Capital and reserves

 

Called up share capital

7

269

269

Share premium reserve

69,059

69,059

Retained earnings

(257,108)

(214,722)

Shareholders' deficit

 

(187,780)

(145,394)

 

Clean Engineering Limited

(Registration number: 12661118)
Balance Sheet as at 30 November 2023

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 August 2024 and signed on its behalf by:
 

.........................................
Richard Bruges
Director

 

Clean Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
86-90 Paul Street
London
EC4A 4NE

These financial statements were authorised for issue by the Board on 16 August 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Clean Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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

Computer Equipment

Straight line - 3 years

Investments

Investments relate to an investment in an unlisted entity which is stated at cost less impairment. At each balance sheet date, the investment is assessed for indicators of impairment and where there are indicators of impairment, recoverable amount is assessed. If recoverable amount is less than carrying amount, the investment is written down to recoverable amount by way of an impairment loss which is recognised in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

 

Clean Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 December 2022

165,275

165,275

At 30 November 2023

165,275

165,275

Impairment

Carrying amount

At 30 November 2023

165,275

165,275

5

Debtors

Current

2023
£

2022
£

Other debtors

564

855

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

108

-

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

360,000

325,000

 

Clean Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share Capital of £0.00 each

2,690,049

269.00

2,690,049

269.00

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Redeemable preference shares

360,000

-

Other borrowings

-

325,000

360,000

325,000