Eco Green Roofs Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07482175 (England and Wales)

ECO GREEN ROOFS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

7

DIRECTORS:

R N Williams

K Hills

A Silvestri

SECRETARY:

Ms E M Churchman

REGISTERED OFFICE:

Rays Farm Barn Unit 3 Rays Farm Barns

Roman Road

Ingatestone

Essex

CM4 9EH

REGISTERED NUMBER:

07482175 (England and Wales)

AUDITORS:

Fortus Audit LLP

1 Rushmills

Northampton

Northamptonshire

NN4 7YB

FIXED ASSETS

Tangible assets

4

13,781

40,234

CURRENT ASSETS

Stocks

5

348,098

267,171

Debtors

6

821,837

813,112

Cash at bank

175,316

83,306

1,345,251

1,163,589

CREDITORS

Amounts falling due within one year

7

1,426,908

1,333,619

NET CURRENT LIABILITIES

(81,657

)

(170,030

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(67,876

)

(129,796

)

CREDITORS

Amounts falling due after more than one year

8

-

(19,124

)

PROVISIONS FOR LIABILITIES

10

(827

)

(1,327

)

NET LIABILITIES

(68,703

)

(150,247

)

CAPITAL AND RESERVES

Called up share capital

11

85

85

Other reserves

300,000

300,000

Retained earnings

(368,788

)

(450,332

)

SHAREHOLDERS' FUNDS

(68,703

)

(150,247

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 May 2020 and were signed on its behalf by:

K Hills - Director

1.	STATUTORY INFORMATION

Eco Green Roofs 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

Revenue 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. Revenue is measured as the fair value of the consideration received or

receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also

be met before revenue is recognised:

Revenue 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

ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from a contract to provide services is recognised in the period in which the services are provided in

accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amounts of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of the completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete

sell, 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

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern

The accounts have been prepared on the going concern basis, and the directors consider that this is

appropriate because of the support from the parent company.

The directors have considered the impact of COVID-19 in relation to their assessment of going concern and in

their opinion have taken all reasonable steps to mitigate these factors. As at the point of authorising the

accounts, and for the foreseeable future, the directors consider the going concern assumption to still be

appropriate. The directors acknowledge that given the currently rapidly changing business and social

environment, there are likely to be significant unknown factors which may present themselves. Such factors are

considered by the directors to represent a general inherent level of risk in relation to the going concern

assumption albeit not quantifiable at this time.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2019

36,150

28,019

64,169

Additions

-

5,842

5,842

Disposals

(36,150

)

(8,622

)

(44,772

)

At 31 December 2019

-

25,239

25,239

DEPRECIATION

At 1 January 2019

10,853

13,082

23,935

Charge for year

471

4,527

4,998

Eliminated on disposal

(11,324

)

(6,151

)

(17,475

)

At 31 December 2019

-

11,458

11,458

NET BOOK VALUE

At 31 December 2019

-

13,781

13,781

At 31 December 2018

25,297

14,937

40,234

5.

STOCKS

2019

2018

£

£

Raw materials

80,044

39,748

Work-in-progress

268,054

227,423

348,098

267,171

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

679,120

637,020

Amounts owed by group undertakings

210

-

Other debtors

142,507

176,092

821,837

813,112

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 9)

-

6,103

Trade creditors

452,873

455,678

Amounts owed to group undertakings

766,258

819,696

Taxation and social security

34,053

23,642

Other creditors

173,724

28,500

1,426,908

1,333,619

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 9)

-

19,124

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2019

2018

£

£

Net obligations repayable:

Within one year

-

6,103

Between one and five years

-

19,124

-

25,227

Non-cancellable operating

leases

2019

2018

£

£

Within one year

13,853

4,713

Between one and five years

18,470

1,003

32,323

5,716

10.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

827

1,327

Deferred

tax

£

Balance at 1 January 2019

1,327

Credit to Income Statement during year

(500

)

Balance at 31 December 2019

827

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

850

Ordinary Shares

0.1

85

85

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Jones FCCA (Senior Statutory Auditor)

for and on behalf of Fortus Audit LLP

13.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately

from those of the company in an independently administered fund.

No contributions were payable to the funds at the balance sheet date in either the current or the prior year.

14.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

During the year ended 31 December 2019 the company was charged £69,294 (2018 - £60,000) of management

charges by an entity with a participating interest in the company. At 31 December 2019 £61,278 (2018 -

£61,937) was due to this participating interest entity.

15.	CONTROLLING PARTY

The controlling party is Langley UK limited.

The ultimate controlling party is A Silvestri.

The smallest group for which consolidated financial statements are prepared in headed by Langley Corporation

Limited and copies of these can be obtained from this parent company's registered office at Langley House,

Lamport Drive, Heartland Business Park, Daventry, Northamptonshire, NN11 8YH.