Envirocure Limited - Accounts to registrar (filleted) - small 18.2
Envirocure Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2019 |
| FOR |
| ENVIROCURE LIMITED |
| ENVIROCURE LIMITED (REGISTERED NUMBER: 04476109) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ENVIROCURE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Bryant House |
| Bryant Road |
| Strood |
| Rochester |
| Kent |
| ME2 3EW |
| ENVIROCURE LIMITED (REGISTERED NUMBER: 04476109) |
| BALANCE SHEET |
| 31 JULY 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| ENVIROCURE LIMITED (REGISTERED NUMBER: 04476109) |
| BALANCE SHEET - continued |
| 31 JULY 2019 |
| 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 its behalf by: |
| ENVIROCURE LIMITED (REGISTERED NUMBER: 04476109) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2019 |
| 1. | STATUTORY INFORMATION |
| Envirocure Limited is a |
| 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 (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 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 |
| presentation and disclosure requirements of Section 1A applicable to small companies, and the |
| Companies Act 2006. |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is recognised to the extent that it is probable that the economic benefits will flow to the |
| company and the revenue can be reliably measured. Turnover is measured as the fair value of the |
| consideration received or receivable from the sale of goods or exchange of services, excluding |
| discounts, rebates, value added tax and other sales taxes. Turnover is not recognised when goods or |
| services are exchanged for goods or services that are of a similar nature and value or when the |
| transaction lacks commercial substance. |
| Sale of goods |
| Turnover from the sale of goods is recognised when all of the following conditions are satisfied: |
| - the company has transferred the significant risks and rewards of ownership to the buyer; |
| - the company retains neither continuing managerial involvement to the degree usually associated with |
| the ownership nor effective control over the goods sold; |
| - the amount of turnover can be measured reliably; |
| - it is probable that the company will receive the consideration due under the transaction; |
| - the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
| Rendering of services |
| The percentage of completion method is used to calculate the turnover recognised at the period end. |
| Turnover from the rendering of services is recognised when all of the following conditions are |
| satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the economic benefits associated with the transaction will flow to the entity; |
| - the stage of completion of the transaction at the end of the reporting period can be measured reliably; |
| and |
| - the costs incurred for the transaction and the costs to complete the transaction can be measured |
| reliably. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of the business in 2006, was |
| amortised over its estimated useful life. |
| ENVIROCURE LIMITED (REGISTERED NUMBER: 04476109) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2019 |
| 3. | ACCOUNTING POLICIES - continued |
| 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 |
| Long leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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 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 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 held under finance lease and hire purchase contracts are capitalised in the balance sheet and |
| depreciated over their expected useful lives. The interest element of the leasing payments represents |
| a constant proportion of the capital balance outstanding and is charged to the profit and loss account |
| over the period of the lease. |
| All other leases are regarded as operating leases and the payments made under them are charged to |
| the profit and loss account on a straight line basis over the lease term. |
| 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. |
| Employee benefits |
| The company recognises a provision for annual leave accrued by employees as a result of services |
| rendered in current period, and which employees are entitled to carry forward and use within the next |
| 12 months. The provision is measured at the salary cost payable for the period of absence. |
| ENVIROCURE LIMITED (REGISTERED NUMBER: 04476109) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2019 |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 August 2018 |
| and 31 July 2019 |
| AMORTISATION |
| At 1 August 2018 |
| and 31 July 2019 |
| NET BOOK VALUE |
| At 31 July 2019 |
| At 31 July 2018 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 August 2018 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 July 2019 |
| DEPRECIATION |
| At 1 August 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
| At 31 July 2019 |
| NET BOOK VALUE |
| At 31 July 2019 |
| At 31 July 2018 |
| ENVIROCURE LIMITED (REGISTERED NUMBER: 04476109) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2019 |
| 6. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 August 2018 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2019 |
| DEPRECIATION |
| At 1 August 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 July 2019 |
| NET BOOK VALUE |
| At 31 July 2019 |
| At 31 July 2018 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| ENVIROCURE LIMITED (REGISTERED NUMBER: 04476109) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2019 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2019 | 2018 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 52,572 | 68,234 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank Loans | 126,779 | 140,236 |
| Invoice Discounting | 219,931 | 152,801 |
| The loan is secured by way of a fixed and floating charge over the leasehold property and undertaking |
| of the company. |
| The invoice discounting account is secured by way of a fixed and floating charge over the leasehold |
| property and undertaking of the company. |
| 11. | OTHER FINANCIAL COMMITMENTS |
| Total financial commitments, guarantees and contingencies which are not included in the balance |
| sheet amount to £68,429 (2018: £18,828). |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 July 2019 and |
| 31 July 2018: |
| 2019 | 2018 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| ENVIROCURE LIMITED (REGISTERED NUMBER: 04476109) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2019 |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| The loan from the director to the company is unsecured, interest free and repayable on demand. |
| The invoice discounting shown in note 10 is secured by a personal guarantee of the director, Mr L |
| Austin, to the value of £150,000 |