Enviromesh Group Limited - Period Ending 2020-12-31
Enviromesh Group Limited - Period Ending 2020-12-31
Registration number:
Enviromesh Group Limited
for the Year Ended 31 December 2020
1st Floor Offices
2 Whitebridge Lane
Stone
Staffordshire
ST15 8LQ
Enviromesh Group Limited
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
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Detailed Profit and Loss Account |
Enviromesh Group Limited
Company Information
Directors |
Mr Neil Holmes Mr Ritchy Stokes |
Registered office |
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Accountants |
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Page 1 |
Enviromesh Group Limited
(Registration number: 08311796)
Abridged Balance Sheet as at 31 December 2020
Note |
2020 |
2019 |
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Fixed assets |
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Intangible assets |
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- |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
300 |
300 |
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Share premium reserve |
1,028,427 |
1,028,427 |
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Profit and loss account |
983,636 |
642,482 |
|
Total equity |
2,012,363 |
1,671,209 |
For the financial year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Page 2 |
Enviromesh Group Limited
(Registration number: 08311796)
Abridged Balance Sheet as at 31 December 2020
Approved and authorised by the
R. Stokes
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N. Holmes
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Page 3 |
Enviromesh Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2020
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Exemption from preparing group accounts
The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Other property, plant and equipment |
1-2 years on costs |
Fixtures, fittings and equipment |
2-5 years on costs |
Motor vehicles |
2-3 years on costs |
Page 4 |
Enviromesh Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2020
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Trademarks, licences and similar |
10 years on cost |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Page 5 |
Enviromesh Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2020
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 6 |
Enviromesh Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2020
Intangible assets |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 31 December 2020 |
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Amortisation |
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Carrying amount |
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At 31 December 2020 |
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Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2020 |
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Additions |
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At 31 December 2020 |
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Depreciation |
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At 1 January 2020 |
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Charge for the year |
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At 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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Investments |
Page 7 |
Enviromesh Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2020
Total |
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Cost or valuation |
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At 1 January 2020 |
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Provision |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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2020 |
2019 |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2020 |
2019 |
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Subsidiary undertakings |
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Garner Street Business Park,
England |
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Garner Street Buiness Park,
England |
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Garner Street Business Park Garner Street, Etruria, Stoke-On-Trent, United Kingdom, ST4 7BH England |
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Garner Street Business Park Garner Street, Etruria, Stoke-On-Trent, Staffs, United Kingdom, ST4 7BH England |
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Page 8 |
Enviromesh Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2020
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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Garner Street Business Park Garner Street, Etruria, Stoke-On-Trent, United Kingdom, ST4 7BH England |
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Subsidiary undertakings |
Cerana Limited The principal activity of Cerana Limited is |
Enviromesh Limited The principal activity of Enviromesh Limited is |
Enviromesh Construct Ltd The principal activity of Enviromesh Construct Ltd is |
Enviromesh Geotechnics Ltd The principal activity of Enviromesh Geotechnics Ltd is |
Enviromesh Manufacturing Ltd The principal activity of Enviromesh Manufacturing Ltd is |
Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
|||
No. |
£ |
No. |
£ |
|
|
|
300 |
|
300 |
Dividends |
2020 |
2019 |
|||
£ |
£ |
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Final dividend of £ |
268,000 |
268,000 |
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Page 9 |
Enviromesh Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2020
Related party transactions |
Summary of transactions with all subsidiaries
Summary of transactions with other related parties
Page 10 |
Enviromesh Group Limited
Detailed Profit and Loss Account for the Year Ended 31 December 2020
2020 |
2019 |
|
Turnover (analysed below) |
- |
- |
Administrative expenses |
||
General administrative expenses (analysed below) |
(1,998) |
356 |
Depreciation costs (analysed below) |
(26,757) |
(24,808) |
(28,755) |
(24,452) |
|
Other operating income (analysed below) |
3,000 |
3,000 |
Operating loss |
(25,755) |
(21,452) |
Income from shares in group undertakings (analysed below) |
634,909 |
475,410 |
Profit before tax |
609,154 |
453,958 |
Page 11 |
Enviromesh Group Limited
Detailed Profit and Loss Account for the Year Ended 31 December 2020
2020 |
2019 |
General administrative expenses |
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Sundry expenses |
(1,998) |
- |
Legal and professional fees |
- |
356 |
(1,998) |
356 |
Depreciation costs |
||
Depreciation of fixtures and fittings (owned) |
(19,491) |
(24,808) |
Depreciation of motor vehicles (owned) |
(7,266) |
- |
(26,757) |
(24,808) |
Other operating income |
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Other operating income |
3,000 |
3,000 |
Income from shares in group undertakings |
||
Dividends from shares in subsidiaries |
634,909 |
475,410 |
Page 12 |