Neal Environmental Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03358985 (England and Wales)

NEAL ENVIRONMENTAL LTD.

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C Neal

L S Neal

B R Neal

SECRETARY:

L S Neal

REGISTERED OFFICE:

Newton Willows

Newton Road

Rumney

Cardiff

South Glamorgan

CF3 2EJ

REGISTERED NUMBER:

03358985 (England and Wales)

ACCOUNTANTS:

Green & Co

Chartered Certified Accountants

Pembroke House

Llantarnam Park Way

Cwmbran

Torfaen

NP44 3AU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

721,884

699,871

721,884

699,871

CURRENT ASSETS

Stocks

46,075

48,355

Debtors

6

114,598

127,463

Cash at bank and in hand

156,189

129,493

316,862

305,311

CREDITORS

Amounts falling due within one year

7

314,248

331,816

NET CURRENT ASSETS/(LIABILITIES)

2,614

(26,505

)

TOTAL ASSETS LESS CURRENT LIABILITIES

724,498

673,366

PROVISIONS FOR LIABILITIES

41,499

35,071

NET ASSETS

682,999

638,295

CAPITAL AND RESERVES

Called up share capital

8

435,000

435,000

Retained earnings

247,999

203,295

SHAREHOLDERS' FUNDS

682,999

638,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors on 3rd December 2018 and were signed on its behalf by:

L S Neal - Director

1.	STATUTORY INFORMATION

Neal 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1997, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss,

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st July 2017

and 30th June 2018

50,000

AMORTISATION

At 1st July 2017

and 30th June 2018

50,000

NET BOOK VALUE

At 30th June 2018

-

At 30th June 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st July 2017

495,317

845,976

297,656

Additions

-

51,008

-

Disposals

-

(14,460

)

(8,500

)

At 30th June 2018

495,317

882,524

289,156

DEPRECIATION

At 1st July 2017

-

711,194

238,342

Charge for year

-

27,677

8,684

Eliminated on disposal

-

(13,186

)

(7,078

)

At 30th June 2018

-

725,685

239,948

NET BOOK VALUE

At 30th June 2018

495,317

156,839

49,208

At 30th June 2017

495,317

134,782

59,314

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st July 2017

148,992

9,413

1,797,354

Additions

21,450

329

72,787

Disposals

(73,550

)

-

(96,510

)

At 30th June 2018

96,892

9,742

1,773,631

DEPRECIATION

At 1st July 2017

139,034

8,913

1,097,483

Charge for year

6,703

415

43,479

Eliminated on disposal

(68,951

)

-

(89,215

)

At 30th June 2018

76,786

9,328

1,051,747

NET BOOK VALUE

At 30th June 2018

20,106

414

721,884

At 30th June 2017

9,958

500

699,871

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

104,139

114,509

Countrywide shares

-

1,311

Prepayments and accrued income

10,459

11,643

114,598

127,463

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

6,879

19,769

Tax

26,479

38,431

Social security and other taxes

406

224

VAT

22,738

37,390

Directors' current accounts

254,514

232,770

Accruals and deferred income

3,232

3,232

314,248

331,816

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

435,000

Ordinary

£1

435,000

435,000

9.	RELATED PARTY DISCLOSURES

The company had an outstanding directors loan creditor at the year end due to the directors of

£254,514 (2017 - £232,770).