Seiche Environmental Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10612696 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

SEICHE ENVIRONMENTAL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R Wyatt

S J Cole

K W Hamer

N E Robinson

REGISTERED OFFICE:

The Custom House

The Strand

Barnstaple

Devon

EX31 1EU

BUSINESS ADDRESS:

Bradworthy Industrial Estate

Langdon Road

Bradworthy

Holsworthy

Devon

EX22 7SF

REGISTERED NUMBER:

10612696 (England and Wales)

AUDITORS:

Perrins Limited

Statutory Auditors

Chartered Accountants

The Custom House

The Strand

Barnstaple

Devon

EX31 1EU

FIXED ASSETS

Tangible assets

5

2,328

-

CURRENT ASSETS

Debtors

6

512,379

1

CREDITORS

Amounts falling due within one year

7

514,904

-

NET CURRENT (LIABILITIES)/ASSETS

(2,525

)

1

TOTAL ASSETS LESS CURRENT LIABILITIES

(197

)

1

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

(198

)

-

SHAREHOLDERS' FUNDS

(197

)

1

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 20 February 2019 and were signed on its behalf by:

R Wyatt - Director

S J Cole - Director

1.	STATUTORY INFORMATION

Seiche Environmental Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Seiche Environmental Ltd is a 100% owned subsidiary of Seiche Water Technology Group Ltd (SWTG).

SWTG's registered office is The Custom House, The Strand, Barnstaple, Devon EX31 1EU.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements cover this company as an individual entity. Rounding is to the nearest Pound (£).

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and assumptions

that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for

revenues and expenses during the year. However, the nature of estimation means that actual outcomes could

differ from those estimates. The following judgements and estimates have had the most significant effect on any

amounts recognised in the financial statements.

Fixed assets

The depreciation rates are chosen for each asset based on the expected life of the asset involved. It does not

reflect the market value of the asset and hence the final result when the asset is disposed of may result in a profit

or loss on that asset.

Taxation

The company establishes and calculates provisions based on reliable estimates having regard to HMRC

requirements and guidelines. The amount of any such provisions are based on various factors taking in to account

interpretations of HMRC regulations.

Accountant's estimation is required in order to determine the amount of deferred tax assets that can be

recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect

of future tax planning strategies.

Accruals

Certain accruals in the accounts are based on a best estimate of the amount owing for these liabilities at the

balance sheet date. Any changes from these estimates will be recognised in the year in which the difference is

discovered.

Bad Debts

Trade debtors are reviewed and any outstanding for a period of more than six months are provided as bad debts

.However, the sums provided may still be received after this time has elapsed.

Revenue recognition

Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its

performance. Turnover is measured at the fair value of the consideration received, excluding discounts, rebates,

VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:

Rendering of services

Turnover from the supply of equipment and equipment operators to costs is recognised based on an assessment

of the usage period in which the equipment is used by customers and that the usage period can be measured

reliably.

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.

Computer equipment

-

33% on cost

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

3,489

At 31 May 2018

3,489

DEPRECIATION

Charge for year

1,161

At 31 May 2018

1,161

NET BOOK VALUE

At 31 May 2018

2,328

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

466,613

-

Amounts owed by group undertakings

27,029

1

Deferred tax asset

101

-

Prepayments

18,636

-

512,379

1

Interest receivable derived from group undertakings for the year was £581 (2017 - £nil).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

159,056

-

Amounts owed to group undertakings

399

-

Social security and other taxes

25,915

-

Accruals and deferred income

329,534

-

514,904

-

Interest payable on loans from group undertakings for the year was £4 (2017 -£nil).

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1

Ordinary

1.00

1

1

9.

RESERVES

Retained

earnings

£

Deficit for the year

(198

)

At 31 May 2018

(198

)

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christopher Birch BSc FCA (Senior Statutory Auditor)

for and on behalf of Perrins Limited

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr R Wyatt, a director of this company, and Mrs J Wyatt, who hold in equal

number the whole of the issued share capital of this company's parent company, Seiche Water Technology Group

Ltd.

12.	ULTIMATE PARENT COMPANY

The ultimate parent company is Seiche Water Technology Group Ltd. Copies of the parent company's financial

statements can be obtained from its registered office at The Custom House, The Strand, Barnstaple, Devon EX31

1EU.