Environmental Essentials (UK) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05980634 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Environmental Essentials (UK) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

5

2,984

-

Tangible assets

6

309,373

166,835

312,357

166,835

CURRENT ASSETS

Stocks

-

1,150

Debtors

7

1,115,816

841,504

Cash at bank and in hand

379,501

205,302

1,495,317

1,047,956

CREDITORS

Amounts falling due within one year

8

1,042,495

917,685

NET CURRENT ASSETS

452,822

130,271

TOTAL ASSETS LESS CURRENT LIABILITIES

765,179

297,106

CREDITORS

Amounts falling due after more than one year

9

(167,284

)

(102,734

)

PROVISIONS FOR LIABILITIES

(58,781

)

(31,699

)

NET ASSETS

539,114

162,673

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

539,014

162,573

SHAREHOLDERS' FUNDS

539,114

162,673

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2023 and were signed on its behalf by:

Mr L D Johnson - Director

Mrs K L Spence - Director

Mr W A E Spence - Director

1.	STATUTORY INFORMATION

Environmental Essentials (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

05980634

Registered office:

Wood House

Etruria Road

Hanley

Stoke on Trent

Staffordshire

ST1 5NQ

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Intangible assets

Intangible asses are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Lease agreements are amortised evenly over the 5 year length of the lease.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, 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 Profit and Loss Account, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2021 - 54 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

3,511

At 31 December 2022

3,511

AMORTISATION

Charge for year

527

At 31 December 2022

527

NET BOOK VALUE

At 31 December 2022

2,984

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2022

401,660

29,044

-

430,704

Additions

121,726

37,845

87,894

247,465

Disposals

(207,888

)

(29,044

)

-

(236,932

)

At 31 December 2022

315,498

37,845

87,894

441,237

DEPRECIATION

At 1 January 2022

236,917

26,952

-

263,869

Charge for year

59,130

7,364

4,883

71,377

Eliminated on disposal

(175,907

)

(27,475

)

-

(203,382

)

At 31 December 2022

120,140

6,841

4,883

131,864

NET BOOK VALUE

At 31 December 2022

195,358

31,004

83,011

309,373

At 31 December 2021

164,743

2,092

-

166,835

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

Additions

29,735

84,054

113,789

At 31 December 2022

29,735

84,054

113,789

DEPRECIATION

Charge for year

5,575

4,670

10,245

At 31 December 2022

5,575

4,670

10,245

NET BOOK VALUE

At 31 December 2022

24,160

79,384

103,544

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

1,072,891

830,967

Other debtors

42,925

10,537

1,115,816

841,504

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans and overdrafts

32,500

38,528

Hire purchase contracts

95,564

31,748

Trade creditors

150,708

131,827

Taxation and social security

351,024

386,345

Other creditors

412,699

329,237

1,042,495

917,685

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans

30,000

50,000

Hire purchase contracts

137,284

52,734

167,284

102,734

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.22

31.12.21

£

£

Hire purchase contracts

232,848

-

Factoring facility

353,935

224,766

586,783

224,766

The factoring facility is secured against all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

Hire purchase debts are secured against the assets to which they relate.

11.	OTHER FINANCIAL COMMITMENTS

The company has commitments relating to leases not included on the balance sheet of £153,000 which will end March 2027.