Oates Environmental Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04005464 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

FOR

OATES ENVIRONMENTAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

8

DIRECTORS:

S W Oates

Mrs B J Oates

SECRETARY:

Mrs B J Oates

REGISTERED OFFICE:

10 Carr Crofts Drive

Leeds

West Yorkshire

LS12 3AL

REGISTERED NUMBER:

04005464 (England and Wales)

ACCOUNTANTS:

Beaumonts

8 Navigation Court

Calder Park

Wakefield

West Yorkshire

WF2 7BJ

FIXED ASSETS

Intangible assets

4

15,160

6,792

Tangible assets

5

587,771

712,360

602,931

719,152

CURRENT ASSETS

Debtors

6

448,657

385,980

Cash at bank and in hand

851,726

864,369

1,300,383

1,250,349

CREDITORS

Amounts falling due within one year

7

497,433

479,592

NET CURRENT ASSETS

802,950

770,757

TOTAL ASSETS LESS CURRENT LIABILITIES

1,405,881

1,489,909

CREDITORS

Amounts falling due after more than one year

8

(62,413

)

(164,898

)

PROVISIONS FOR LIABILITIES

(72,659

)

(83,824

)

NET ASSETS

1,270,809

1,241,187

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

1,270,799

1,241,177

SHAREHOLDERS' FUNDS

1,270,809

1,241,187

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 28 January 2020 and were signed on its behalf by:

S W Oates - Director

1.	STATUTORY INFORMATION

Oates Environmental 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 invoiced in respect of hazardous waste disposal and industrial tank cleaning

excluding value added tax.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Land and buildings

-

Over the term of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

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

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 18 (2018 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 June 2018

1

7,496

7,497

Additions

-

11,250

11,250

At 31 May 2019

1

18,746

18,747

AMORTISATION

At 1 June 2018

-

705

705

Charge for year

-

2,882

2,882

At 31 May 2019

-

3,587

3,587

NET BOOK VALUE

At 31 May 2019

1

15,159

15,160

At 31 May 2018

1

6,791

6,792

5.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

Motor

buildings

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2018

67,968

719,969

28,623

485,281

1,301,841

Additions

-

11,247

4,175

-

15,422

Disposals

-

-

-

(51,924

)

(51,924

)

At 31 May 2019

67,968

731,216

32,798

433,357

1,265,339

DEPRECIATION

At 1 June 2018

41,792

216,231

10,295

321,163

589,481

Charge for year

13,594

76,685

3,013

31,376

124,668

Eliminated on disposal

-

-

-

(36,581

)

(36,581

)

At 31 May 2019

55,386

292,916

13,308

315,958

677,568

NET BOOK VALUE

At 31 May 2019

12,582

438,300

19,490

117,399

587,771

At 31 May 2018

26,176

503,738

18,328

164,118

712,360

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Trade debtors

413,627

378,121

Other debtors

35,030

7,859

448,657

385,980

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Hire purchase contracts

97,640

108,888

Trade creditors

210,233

166,251

Taxation and social security

145,338

154,400

Other creditors

44,222

50,053

497,433

479,592

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.19

31.5.18

£

£

Hire purchase contracts

62,413

164,898

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.19

31.5.18

£

£

Hire purchase contracts

160,053

273,786

Hire purchase is secured over the assets being financed.

10.	OTHER FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the balance sheet

amount to £96,153 (2018 - £108,140).

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements

and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Oates Environmental Limited for the year ended 31 May 2019 which comprise the

Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Oates Environmental Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oates Environmental Limited and state those matters that we have agreed to state to the Board of Directors of Oates Environmental Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Oates Environmental Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Oates Environmental Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Oates Environmental Limited. You consider that Oates Environmental Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Oates Environmental Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Beaumonts

8 Navigation Court

Calder Park

Wakefield

West Yorkshire

WF2 7BJ

28 January 2020