No Pollution Industrial Systems Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC335048 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

NO POLLUTION INDUSTRIAL SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Rivolta

G Rivolta

SECRETARY:

G Rivolta

REGISTERED OFFICE:

Bank House

20a Strathearn Road

Edinburgh

EH9 2AB

REGISTERED NUMBER:

SC335048 (Scotland)

ACCOUNTANTS:

Mc Creath & Co Limited

Bank House

20A Strathearn Road

Edinburgh

EH9 2AB

FIXED ASSETS

Intangible assets

4

983

-

Tangible assets

5

1,018

1,568

2,001

1,568

CURRENT ASSETS

Debtors

6

364,227

342,538

Cash at bank

545,800

118,182

910,027

460,720

CREDITORS

Amounts falling due within one year

7

649,592

194,125

NET CURRENT ASSETS

260,435

266,595

TOTAL ASSETS LESS CURRENT LIABILITIES

262,436

268,163

CREDITORS

Amounts falling due after more than one year

8

102,500

132,500

NET ASSETS

159,936

135,663

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

154,936

130,663

SHAREHOLDERS' FUNDS

159,936

135,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2023 and were signed on its behalf by:

G Rivolta - Director

1.	STATUTORY INFORMATION

No Pollution Industrial Systems Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is derived from ordinary activities and represents the invoiced value of goods sold and the value of services to which the company has obtained the right to consideration, and is stated after trade discounts, other sales taxes and net of VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

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.

Amounts recoverable on contracts

Amounts recoverable on contracts are stated at the value of turnover attributed to the stage of completion on each individual contract less payments on account received and receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

983

At 31 December 2021

983

NET BOOK VALUE

At 31 December 2021

983

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

and 31 December 2021

21,553

DEPRECIATION

At 1 January 2021

19,985

Charge for year

550

At 31 December 2021

20,535

NET BOOK VALUE

At 31 December 2021

1,018

At 31 December 2020

1,568

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

163,192

181,238

Other debtors

201,035

161,300

364,227

342,538

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

30,000

17,500

Trade creditors

109,615

156,807

Taxation and social security

29,377

5,064

Other creditors

480,600

14,754

649,592

194,125

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

102,500

132,500

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

12,500

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

2021

2020

£

£

M Rivolta

Balance outstanding at start of year

66,981

90,442

Amounts advanced

18,026

7,389

Amounts repaid

(24,230

)

(30,850

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

60,777

66,981

G Rivolta

Balance outstanding at start of year

(2,183

)

4,632

Amounts advanced

2,118

519

Amounts repaid

(2,000

)

(7,334

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,065

)

(2,183

)

Where the balance owed by the Directors to the Company exceeds £10,000 the company charges interest at the official rate of interest approved by HM Revenue and Customs.