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

REGISTERED NUMBER: 07482175 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

ECO GREEN ROOFS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R N Williams

K Hills

A Silvestri

SECRETARY:

Ms E M Churchman

REGISTERED OFFICE:

Unit 3 Rays Farm Barns

Ingatestone

Essex

CM4 9EK

REGISTERED NUMBER:

07482175 (England and Wales)

AUDITORS:

Fortus Audit LLP

1 Rushmills

Bedford Road

Northampton

Northamptonshire

NN4 7YB

FIXED ASSETS

Tangible assets

4

22,828

13,781

CURRENT ASSETS

Stocks

5

381,562

348,098

Debtors

6

997,965

821,837

Cash at bank

434,847

175,316

1,814,374

1,345,251

CREDITORS

Amounts falling due within one year

7

1,617,158

1,426,908

NET CURRENT ASSETS/(LIABILITIES)

197,216

(81,657

)

TOTAL ASSETS LESS CURRENT LIABILITIES

220,044

(67,876

)

PROVISIONS FOR LIABILITIES

9

2,818

827

NET ASSETS/(LIABILITIES)

217,226

(68,703

)

CAPITAL AND RESERVES

Called up share capital

10

85

85

Other reserves

300,000

300,000

Retained earnings

(82,859

)

(368,788

)

SHAREHOLDERS' FUNDS

217,226

(68,703

)

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 6 May 2021 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.

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Government grants

Government grants relating to the Coronavirus Job Retention Scheme are recognised in income in the period in which it becomes receivable under the performance model.

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 19 (2019 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2020

-

25,239

25,239

Additions

6,716

7,735

14,451

At 31 December 2020

6,716

32,974

39,690

DEPRECIATION

At 1 January 2020

-

11,458

11,458

Charge for year

780

4,624

5,404

At 31 December 2020

780

16,082

16,862

NET BOOK VALUE

At 31 December 2020

5,936

16,892

22,828

At 31 December 2019

-

13,781

13,781

5.

STOCKS

2020

2019

£

£

Raw materials

91,956

80,044

Work-in-progress

289,606

268,054

381,562

348,098

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

789,184

679,120

Amounts owed by group undertakings

360

210

Other debtors

208,421

142,507

997,965

821,837

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

615,523

452,873

Amounts owed to group undertakings

673,952

766,258

Taxation and social security

39,834

34,053

Other creditors

287,849

173,724

1,617,158

1,426,908

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

13,853

13,853

Between one and five years

4,617

18,470

18,470

32,323

9.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

2,818

827

Deferred

tax

£

Balance at 1 January 2020

827

Provided during year

1,991

Balance at 31 December 2020

2,818

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

850

Ordinary Shares

0.1

85

85

11.	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

12.	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.

13.	RELATED PARTY DISCLOSURES

Eco Green Roofs Limited is not a wholly owned subsidiary within the group. It has transactions and balances with other group companies.

During the year ended 31 December 2020 the company was charged £141,960 (2019 - £69,294) of management charges by another group company. At 31 December 2020 £nil (2019 - £61,278) was due to this company.

14.	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.