Oates Environmental Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04005464 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2022

for

OATES ENVIRONMENTAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Accountants' Report

6

DIRECTOR:

S W 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

14,613

22,097

Tangible assets

5

435,112

453,270

449,725

475,367

CURRENT ASSETS

Debtors

6

486,319

476,130

Cash at bank and in hand

879,971

809,260

1,366,290

1,285,390

CREDITORS

Amounts falling due within one year

7

398,041

411,660

NET CURRENT ASSETS

968,249

873,730

TOTAL ASSETS LESS CURRENT LIABILITIES

1,417,974

1,349,097

PROVISIONS FOR LIABILITIES

81,217

76,964

NET ASSETS

1,336,757

1,272,133

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

1,336,747

1,272,123

SHAREHOLDERS' FUNDS

1,336,757

1,272,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 23 January 2023 and were signed 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 (2021 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 June 2021

and 31 May 2022

1

37,421

37,422

AMORTISATION

At 1 June 2021

-

15,325

15,325

Charge for year

-

7,484

7,484

At 31 May 2022

-

22,809

22,809

NET BOOK VALUE

At 31 May 2022

1

14,612

14,613

At 31 May 2021

1

22,096

22,097

5.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

Motor

buildings

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2021

123,762

731,216

35,786

433,357

1,324,121

Additions

8,019

15,000

1,669

44,883

69,571

Disposals

-

-

-

(59,420

)

(59,420

)

At 31 May 2022

131,781

746,216

37,455

418,820

1,334,272

DEPRECIATION

At 1 June 2021

78,988

414,544

19,098

358,221

870,851

Charge for year

12,447

49,563

2,717

14,030

78,757

Eliminated on disposal

-

-

-

(50,448

)

(50,448

)

At 31 May 2022

91,435

464,107

21,815

321,803

899,160

NET BOOK VALUE

At 31 May 2022

40,346

282,109

15,640

97,017

435,112

At 31 May 2021

44,774

316,672

16,688

75,136

453,270

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade debtors

449,529

430,480

Other debtors

36,790

45,650

486,319

476,130

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Hire purchase contracts

-

7,349

Trade creditors

211,114

157,272

Taxation and social security

147,014

180,881

Other creditors

39,913

66,158

398,041

411,660

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.22

31.5.21

£

£

Hire purchase contracts

-

7,349

Hire purchase is secured over the assets being financed.

9.	OTHER FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £392,093 (2021 - £308,339).

The following reproduces the text of the report prepared for the director 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 Director 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 2022 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 director of Oates Environmental Limited 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 director of Oates Environmental Limited 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 director 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

23 January 2023