Associated Reclaimed Oils Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01352704 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2018 TO 10 APRIL 2019

FOR

ASSOCIATED RECLAIMED OILS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Sneath

T Walsh

S A Woods

SECRETARY:

G Lowry

REGISTERED OFFICE:

Brailwood Road

Bilsthorpe

Newark

Nottinghamshire

NG22 8UA

REGISTERED NUMBER:

01352704 (England and Wales)

ACCOUNTANTS:

Scodie Deyong LLP

Chartered Accountants

4 Prince Albert Road

London

NW1 7SN

FIXED ASSETS

Tangible assets

4

54,406

69,474

CURRENT ASSETS

Debtors

5

322,259

362,367

Cash at bank and in hand

101,412

43,081

423,671

405,448

CREDITORS

Amounts falling due within one year

6

119,840

106,177

NET CURRENT ASSETS

303,831

299,271

TOTAL ASSETS LESS CURRENT LIABILITIES

358,237

368,745

CREDITORS

Amounts falling due after more than one year

7

-

(10,425

)

PROVISIONS FOR LIABILITIES

9

(9,929

)

(12,967

)

NET ASSETS

348,308

345,353

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

348,208

345,253

SHAREHOLDERS' FUNDS

348,308

345,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 10 April 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 10 April 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 June 2019 and were signed on its behalf by:

M Sneath - Director

1.	STATUTORY INFORMATION

Associated Reclaimed Oils 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for goods and services net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off 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

Fixtures, fittings and equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the period 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 period 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 and finance leases are capitalised as tangible assets and depreciated

over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors

net of the finance charge allocated to future periods. The finance elemet of the rental payment is charged to the profit

and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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

The average number of employees during the period was 11 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Plant and

and

Motor

machinery

equipment

vehicles

Totals

£

£

£

£

COST

At 1 May 2018

14,128

6,047

158,900

179,075

Additions

-

1,766

-

1,766

At 10 April 2019

14,128

7,813

158,900

180,841

DEPRECIATION

At 1 May 2018

6,181

4,841

98,579

109,601

Charge for period

1,878

702

14,254

16,834

At 10 April 2019

8,059

5,543

112,833

126,435

NET BOOK VALUE

At 10 April 2019

6,069

2,270

46,067

54,406

At 30 April 2018

7,947

1,206

60,321

69,474

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2018

and 10 April 2019

55,600

DEPRECIATION

At 1 May 2018

32,144

Charge for period

5,543

At 10 April 2019

37,687

NET BOOK VALUE

At 10 April 2019

17,913

At 30 April 2018

23,456

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

165,751

161,404

Other debtors

156,508

200,963

322,259

362,367

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

11,468

12,510

Trade creditors

23,657

23,079

Taxation and social security

63,459

33,754

Other creditors

21,256

36,834

119,840

106,177

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

10,425

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

11,468

22,935

Obligations under hire purchase contracts are secured on the assets financed.

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

9,929

12,967

Deferred

tax

£

Balance at 1 May 2018

12,967

Credit to Income Statement during period

(3,038

)

Balance at 10 April 2019

9,929

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

11.	RELATED PARTY DISCLOSURES

Associated Reclaimed Oils Partnership

A partnership under common control during the period.

During the period the company incurred an admin service charge of £60,000 (2018: £60,000) from Associated

Reclaimed Oils.

2019

2018

£

£

Amount due from related party at the balance sheet date

148,150

197,693

12.	ULTIMATE CONTROLLING PARTY

On 10 April 2019, the company became a member of the Enva group of companies. ARO Holdco Limited acquired

the company on that date. ARO Holdco Limited is a wholly owned subsidiary of Enva UK Opco Limited. Both

companies are ultimately controlled by Enva Topco Limited. All of these companies are incorporated in the United

Kingdom. Enva Topco Limited is majority owned by Exponent Private Equity Partners GP III, LP, a limited

partnership registered in Scotland.