Company registration number 10246064 (England and Wales)
CLEANEVENT SERVICES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CLEANEVENT SERVICES LIMITED
COMPANY INFORMATION
Directors
T Gronager
R Brooke
M Close
Company number
10246064
Registered office
3-4 Twyford Place
Lincoln Road
High Wycombe
Buckinghamshire
HP12 3RE
Auditor
CLA Evelyn Partners Limited
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
CLEANEVENT SERVICES LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 21
CLEANEVENT SERVICES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

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

Review of the business

CleanEvent Services Ltd is the UK’s leading cleaning services company specialising in sports, leisure, healthcare and retail venues. With operations across Great Britain and Northern Ireland, we provide services to a diverse range of customers including international sports stadia, world-class events, commercial kitchens, retail centres and medical establishments. Our commitment to excellence and tailored solutions has solidified our reputation as an industry leader.

Results and performance

For the year ended 31 December 2023, the company reported a profit before taxation of £462,243 on a turnover of £23,674,198. This is compared to a profit before tax of £890,433 and a turnover of £23,380,925 for the year ended 31 December 2022. The marginal increase in turnover reflects the growth in core contracted revenue to replace non-recurring events that were included in the previous year’s results.

 

The company generated £575,197 in cash flow from operating activities during 2023. Significant investments were made in plant and machinery to boost efficiency and enhance environmental performance. As of 31 December 2023, the company had cash balances of £190,195 and bank borrowings, representing the debt factoring facility of £466,082.

Focus on Growth and Investment

We are dedicated to sustaining and enhancing our growth trajectory. Our investment in state-of-the-art equipment and technology underscores our commitment to operational excellence and environmental sustainability. During the past year we have procured new plant and equipment, invested in advanced systems and enhanced our training and safety support frameworks. These investments not only improve efficiency but also align with our long-term environmental goals.

 

Employee Care

The average number of staff employed by CleanEvent in 2023 was 814. As a living wage employer and a Recognised Service Provider for the Living Wage Foundation, we prioritise our employees' well-being. Our comprehensive employee benefits package includes medical services, access to mental health helplines, and a staff discount scheme.

Employee policies are geared towards attracting, training and retaining the best talent. We aim to ensure a safe and inclusive working environment, with health and safety policies at the core of our operations. Equal opportunities are provided to all staff, fostering an inclusive culture that supports diversity and equality. We believe that by looking after our employees, we empower them to deliver exceptional service to our customers.

 

Environmental Awareness and Sustainability

CleanEvent Services Ltd is committed to environmental sustainability. We support our clients in becoming more sustainable by embracing initiatives that address today's environmental challenges. Our operations are designed to optimise environmental performance, working with a select number of specialist service partners to drive innovation and sustainability in our industry.

Having achieved carbon-neutral status in December 2022, we continue to refine our policies and strategies to further reduce our carbon footprint. Practical steps and informed purchasing decisions have enabled us to maintain and enhance our carbon-neutral plus status, providing a benchmark for continuous improvement.

 

Human Rights

At CleanEvent we uphold the rights of individuals and take our responsibilities towards our employees seriously. Our comprehensive policies on modern slavery, human trafficking, business ethics, ethical sourcing and whistle-blowing are integral to our operations. These policies ensure that we maintain high ethical standards and protect our employees' rights and welfare.

 

CLEANEVENT SERVICES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Anti-Corruption and Anti-Bribery

We maintain robust anti-corruption and anti-bribery policies, reviewed regularly and included in employee handbooks.

 

Business environment

The demand for high-quality cleaning services continues to grow, driven by increasing expectations in sports, retail, and healthcare sectors, and a clean environment is a critical factor in every customer experience. Inevitably we face pressure to control costs while maintaining service excellence and we meet this challenge by continuously improving efficiency and optimising operations to deliver value at competitive rates.

Description of risks and uncertainties

CleanEvent operates in a dynamic environment with fixed-term contracts typically spanning three to five years. Contract renewals often involve competitive bidding, where competitors may offer lower-cost, lower-quality alternatives. Labour availability and cost fluctuations, driven by economic and political changes, pose additional challenges. Our focus on cost control and efficient operations is crucial in managing these risks and maintaining our competitive edge.

Future developments

The markets we serve are well established and are poised for further growth. New and improved venues, along with advances in cleaning technology and heightened environmental awareness, present opportunities for us to enhance our services and efficiency. Management will continue to monitor these trends, so that CleanEvent is able to adapt and thrive in this evolving landscape.

On behalf of the board

T Gronager
Director
17 September 2024
CLEANEVENT SERVICES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2023.

Principal activities

The principal activity of the company continued to be that of cleaning and waste management services to venues and events.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £714,477 (2022: £4,000). The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

T Gronager
R Brooke
M Close
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

Auditor

CLA Evelyn Partners Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report 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). 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:

 

CLEANEVENT SERVICES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -

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 of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
T Gronager
Director
16 September 2024
CLEANEVENT SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CLEANEVENT SERVICES LIMITED
- 5 -
Opinion

We have audited the financial statements of CleanEvent Services Limited (the 'company') for the year ended 31 December 2023 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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:

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 Auditor's 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.

Conclusions 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

CLEANEVENT SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CLEANEVENT SERVICES LIMITED (CONTINUED)
- 6 -
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 directors' report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, 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 is 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 are to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

 

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

CLEANEVENT SERVICES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CLEANEVENT SERVICES LIMITED (CONTINUED)
- 7 -

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 an auditor's report 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.

Keir Singleton
Senior Statutory Auditor
For and on behalf of CLA Evelyn Partners Limited
17 September 2024
Chartered Accountants
Statutory Auditor
22 Wycombe End
Beaconsfield
Buckinghamshire
HP9 1NB
CLEANEVENT SERVICES LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
Year
Year
ended
ended
31 December
31 December
2023
2022
Notes
£
£
Turnover
2
23,674,198
23,380,925
Cost of sales
(21,198,215)
(21,018,083)
Gross profit
2,475,983
2,362,842
Administrative expenses
(2,003,740)
(1,453,452)
Operating profit
3
472,243
909,390
Interest payable and similar expenses
6
(10,000)
(18,957)
Profit before taxation
462,243
890,433
Tax on profit
7
(93,159)
(196,077)
Profit for the financial year
369,084
694,356

The profit and loss account has been prepared on the basis that all operations are continuing operations.

CLEANEVENT SERVICES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 9 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
10
626,279
99,819
Current assets
Stocks
11
57,013
59,833
Debtors
12
4,665,586
4,080,369
Cash at bank and in hand
190,195
1,147,898
4,912,794
5,288,100
Creditors: amounts falling due within one year
13
(4,336,090)
(3,756,205)
Net current assets
576,704
1,531,895
Total assets less current liabilities
1,202,983
1,631,714
Creditors: amounts falling due after more than one year
14
(35,364)
(10,573)
Provisions for liabilities
Deferred tax liability
16
91,871
-
0
(91,871)
-
Net assets
1,075,748
1,621,141
Capital and reserves
Called up share capital
18
15,060
16,550
Capital redemption reserve
1,490
-
0
Profit and loss reserves
1,059,198
1,604,591
Total equity
1,075,748
1,621,141

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 16 September 2024 and are signed on its behalf by:
T Gronager
Director
Company registration number 10246064 (England and Wales)
CLEANEVENT SERVICES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2022
16,550
-
0
914,235
930,785
Period ended 31 December 2022:
Profit and total comprehensive income
-
-
694,356
694,356
Dividends
8
-
-
(4,000)
(4,000)
Balance at 31 December 2022
16,550
-
0
1,604,591
1,621,141
Period ended 31 December 2023:
Profit and total comprehensive income
-
-
369,084
369,084
Dividends
8
-
-
(714,477)
(714,477)
Own shares acquired
-
-
(200,000)
(200,000)
Redemption of shares
18
(1,490)
1,490
-
0
-
0
Balance at 31 December 2023
15,060
1,490
1,059,198
1,075,748
CLEANEVENT SERVICES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 11 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
22
575,197
1,531,314
Interest paid
(10,000)
(18,957)
Income taxes paid
(172,164)
(138,132)
Net cash inflow from operating activities
393,033
1,374,225
Investing activities
Purchase of tangible fixed assets
(586,052)
(42,835)
Net cash used in investing activities
(586,052)
(42,835)
Financing activities
Redemption of shares
(200,000)
-
0
Proceeds from factoring facility
466,082
-
0
Repayment of bank loans
(313,906)
(294,616)
Payment of finance leases obligations
(2,383)
-
0
Dividends paid
(714,477)
(4,000)
Net cash used in financing activities
(764,684)
(298,616)
Net (decrease)/increase in cash and cash equivalents
(957,703)
1,032,774
Cash and cash equivalents at beginning of year
1,147,898
115,124
Cash and cash equivalents at end of year
190,195
1,147,898
CLEANEVENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 12 -
1
Accounting policies
Company information

CleanEvent Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3-4 Twyford Place, Lincoln Road, High Wycombe, Buckinghamshire, HP12 3RE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are presented in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet 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.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the provision of cleaning services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Revenue is recognised in full at the point that the cleaning services are completed. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Customer contracts
20% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
33% straight line
Plant and equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

CLEANEVENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 13 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Stocks

Stock consists of consumable items held for use in the provision of cleaning services. Stock is valued cost less any known obsolesce or impairment.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” 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.

Basic financial assets

Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

Basic financial liabilities

Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CLEANEVENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 14 -
1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.14

Debt factoring

Debts are factored by Bibby Financial Services. Separate presentation has been adopted; trade debtors are shown within assets and a corresponding liability in respect of the proceeds of advanced drawdowns are shown within liabilities.

2
Turnover

An analysis of the company's turnover is as follows:

2023
2022
£
£
Turnover analysed by class of business
Cleaning sales
23,674,198
23,380,925
2023
2022
£
£
Turnover analysed by geographical market
UK
23,674,198
23,380,925
3
Operating profit
2023
2022
Operating profit for the period is stated after charging/(crediting):
£
£
Exchange gains
-
0
(432)
Fees payable to the company's auditor for the audit of the company's financial statements
24,000
31,025
Depreciation of owned tangible fixed assets
100,765
82,737
Operating lease charges
37,965
38,272
CLEANEVENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 15 -
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Direct labour
758
755
Administrative staff
56
54
Total
814
809

Their aggregate remuneration comprised:

2023
2022
£
£
Wages and salaries
12,058,428
10,971,538
Social security costs
825,828
814,435
Pension costs
377,580
343,812
13,261,836
12,129,785
5
Directors' remuneration
2023
2022
£
£
Remuneration for qualifying services
143,405
180,117
Company pension contributions to defined contribution schemes
89,724
38,327
233,129
218,444

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2022: 2).

6
Interest payable and similar expenses
2023
2022
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
7,946
18,957
Other finance costs:
Interest on finance leases and hire purchase contracts
2,054
-
10,000
18,957
CLEANEVENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 16 -
7
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
25,201
196,077
Adjustments in respect of prior periods
(23,913)
-
0
Total current tax
1,288
196,077
Deferred tax
Origination and reversal of timing differences
91,871
-
0
Total tax charge
93,159
196,077

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2023
2022
£
£
Profit before taxation
462,243
890,433
Expected tax charge based on the standard rate of corporation tax in the UK of 22.00% (2022: 19.00%)
101,693
169,182
Tax effect of expenses that are not deductible in determining taxable profit
20,223
9,003
Change in unrecognised deferred tax assets
(16,903)
24,391
Adjustments in respect of prior years
(23,913)
-
0
Effect of change in corporation tax rate
12,306
(4,057)
130% Enhanced capital allowances
(247)
(2,442)
Taxation charge for the period
93,159
196,077
8
Dividends
2023
2022
£
£
Interim paid
714,477
4,000
CLEANEVENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 17 -
9
Intangible fixed assets
Customer contracts
£
Cost
At 1 January 2023 and 31 December 2023
351,700
Amortisation and impairment
At 1 January 2023 and 31 December 2023
351,700
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
10
Tangible fixed assets
Leasehold improvements
Plant and equipment
Total
£
£
£
Cost
At 1 January 2023
158,952
215,072
374,024
Additions
66,101
561,124
627,225
At 31 December 2023
225,053
776,196
1,001,249
Depreciation and impairment
At 1 January 2023
150,710
123,495
274,205
Depreciation charged in the year
9,049
91,716
100,765
At 31 December 2023
159,759
215,211
374,970
Carrying amount
At 31 December 2023
65,294
560,985
626,279
At 31 December 2022
8,242
91,577
99,819
11
Stocks
2023
2022
£
£
Finished goods and goods for resale
57,013
59,833
CLEANEVENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 18 -
12
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,228,813
3,714,783
Other debtors
60,707
24,055
Prepayments and accrued income
376,066
341,531
4,665,586
4,080,369
13
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Bank loans
466,082
303,333
Obligations under finance leases
15
3,426
-
0
Trade creditors
1,414,752
1,179,032
Corporation tax
25,201
196,077
Other taxation and social security
797,440
760,597
Dividends payable
4,000
4,000
Other creditors
876,534
786,633
Accruals and deferred income
748,655
526,533
4,336,090
3,756,205

Bank loans are secured by way of a fixed and floating charge over the assets of the company. This security contains a negative pledge which means that the company will not create or agree to create any additional security interest over the charged assets.

 

Finance lease obligations of £3,426 (2022: £nil) are secured on the assets to which they relate.

14
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
-
0
10,573
Obligations under finance leases
15
35,364
-
0
35,364
10,573

Bank loans are secured by way of a fixed and floating charge over the assets of the company. This security contains a negative pledge which means that the company will not create or agree to create any additional security interest over the charged assets.

 

Finance lease obligations of £35,364 (2022: £nil) are secured on the assets to which they relate.

CLEANEVENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 19 -
15
Finance lease obligations
2023
2022
Future minimum lease payments due under finance leases:
£
£
Within one year
3,426
-
0
In two to five years
35,364
-
0
38,790
-
0

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
156,570
-
Tax losses
(19,207)
-
Retirement benefit obligations
(45,492)
-
91,871
-
2023
Movements in the year:
£
Liability at 1 January 2023
-
Charge to profit or loss
91,871
Liability at 31 December 2023
91,871
17
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
377,580
343,812

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

CLEANEVENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 20 -
18
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
9,173
9,173
9,173
9,173
Ordinary A shares of £1 each
3,074
3,074
3,074
3,074
Ordinary B shares of £1 each
1,490
1,490
1,490
1,490
Ordinary C shares of £1 each
-
1,490
-
1,490
Ordinary D shares of £1 each
827
827
827
827
Ordinary E shares of £1 each
496
496
496
496
15,060
16,550
15,060
16,550

The Ordinary shares have full rights to receive notice of, attend and vote at general meetings, and full rights to dividends and capital distributions. Only class A, B and C shares have full voting and equity rights. Class D and E shares are entitled to one vote and pari passu to dividend payments.

During the year the company purchased 1,490 Ordinary C shares for a total consideration of £200,000 and the shares were cancelled.

19
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023
2022
£
£
Within one year
23,779
25,941
Between two and five years
-
0
23,779
23,779
49,720
20
Related party transactions

During the year the company loaned £22,383 (2022: £Nil) to Cleanevent Properties Limited, a company controlled by one of the directors. The loan, which is repayable on demand, was outstanding at the year end.

21
Ultimate controlling party

The ultimate controlling parties are T and PA Gronager by virtue of their majority shareholding in CleanEvent Services Limited.

CLEANEVENT SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 21 -
22
Cash generated from operations
2023
2022
£
£
Profit for the year after tax
369,084
694,356
Adjustments for:
Taxation charged
93,159
196,077
Finance costs
10,000
18,957
Depreciation and impairment of tangible fixed assets
100,765
82,737
Movements in working capital:
Decrease/(increase) in stocks
2,820
(3,904)
(Increase)/decrease in debtors
(585,217)
926,937
Increase/(decrease) in creditors
584,586
(383,846)
Cash generated from operations
575,197
1,531,314
23
Analysis of changes in net funds/(debt)
1 January 2023
Cash flows
New finance leases
31 December 2023
£
£
£
£
Cash at bank and in hand
1,147,898
(957,703)
-
190,195
Borrowings excluding overdrafts
(313,906)
(152,176)
-
(466,082)
Obligations under finance leases
-
2,383
(41,173)
(38,790)
833,992
(1,107,496)
(41,173)
(314,677)
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