Envirohire Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03444709 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

Envirohire Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G K Ellison

A M Ellison

F A Hay

J T Major

REGISTERED OFFICE:

The Stable Yard

Vicarage Road

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1BN

REGISTERED NUMBER:

03444709 (England and Wales)

ACCOUNTANTS:

Connolly Accountants & Business Advisors LTD

Chartered Certified Accountants

The Stable Yard

Vicarage Road

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1BN

FIXED ASSETS

Tangible assets

4

1,859,006

1,745,264

CURRENT ASSETS

Stocks

105,110

105,110

Debtors

5

482,546

490,026

Cash at bank and in hand

62,797

13,862

650,453

608,998

CREDITORS

Amounts falling due within one year

6

422,641

440,114

NET CURRENT ASSETS

227,812

168,884

TOTAL ASSETS LESS CURRENT LIABILITIES

2,086,818

1,914,148

CREDITORS

Amounts falling due after more than one year

7

455,335

446,583

NET ASSETS

1,631,483

1,467,565

CAPITAL AND RESERVES

Called up share capital

900

900

Capital redemption reserve

100

100

Other reserves

60,000

60,000

Retained earnings

1,570,483

1,406,565

SHAREHOLDERS' FUNDS

1,631,483

1,467,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 3 September 2019 and were signed on its behalf by:

G K Ellison - Director

1.	STATUTORY INFORMATION

Envirohire 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 as modified by the revaluation of certain assets.

Turnover

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

value added tax and other sales taxes.

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 & machinery

-

4 years and 12.5% on cost

Fixtures and fittings

-

4 years

Motor vehicles

-

4 years

Computer equipment

-

3 years

Stocks

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

slow moving items.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there

is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or

to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised costs using the effective interest

method unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future receipts discounted at a market rate of interest. Financial assets classified as

receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of

the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from related companies are initially recognised at

transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is

measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities

classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

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

lease.

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 year was 5 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2018

347,092

2,822,310

3,169,402

Additions

-

500,516

500,516

Disposals

-

(395,128

)

(395,128

)

At 31 March 2019

347,092

2,927,698

3,274,790

DEPRECIATION

At 1 April 2018

-

1,424,138

1,424,138

Charge for year

-

241,722

241,722

Eliminated on disposal

-

(250,076

)

(250,076

)

At 31 March 2019

-

1,415,784

1,415,784

NET BOOK VALUE

At 31 March 2019

347,092

1,511,914

1,859,006

At 31 March 2018

347,092

1,398,172

1,745,264

Cost or valuation at 31 March 2019 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

2017

Cost

287,092

2,927,698

3,214,790

347,092

2,927,698

3,274,790

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

Plant and

machinery

etc

£

COST OR VALUATION

At 1 April 2018

1,637,481

Additions

498,187

Disposals

(17,878

)

Transfer to ownership

(296,135

)

At 31 March 2019

1,821,655

DEPRECIATION

At 1 April 2018

446,507

Charge for year

124,756

Transfer to ownership

(152,603

)

At 31 March 2019

418,660

NET BOOK VALUE

At 31 March 2019

1,402,995

At 31 March 2018

1,190,974

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

62,454

63,572

Amounts owed by group undertakings

380,036

383,895

Other debtors

40,056

42,559

482,546

490,026

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

27,856

17,088

Hire purchase contracts

342,445

363,810

Trade creditors

13,260

3,801

Amounts owed to group undertakings

18,346

14,272

Taxation and social security

19,174

35,724

Other creditors

1,560

5,419

422,641

440,114

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

197,936

199,360

Hire purchase contracts

257,399

247,223

455,335

446,583

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

129,584

131,008

8.	RELATED PARTY DISCLOSURES

The company was under the control of the directors throughout the current and previous year.