Birch Utility Services Limited - Period Ending 2022-09-30
Birch Utility Services Limited - Period Ending 2022-09-30
Year Ended
Registration number:
Birch Utility Services Limited
Contents
Company Information |
|
Strategic Report |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Statement of Income and Retained Earnings |
|
Balance Sheet |
|
Statement of Cash Flows |
|
Notes to the Financial Statements |
Birch Utility Services Limited
Company Information
Directors |
J Birch K Ricketts |
Company secretary |
K Ricketts |
Registered office |
|
Auditors |
|
Birch Utility Services Limited
Strategic Report for the Year Ended 30 September 2022
The directors present their strategic report for the year ended 30 September 2022.
Principal activity
The principal activity of the company is utility arboricultural contractors.
Fair review of the business
The directors are pleased with the company's performance in the year. Turnover increased 31% to £10,558,780 and gross profit margin achieved rose to 22%. Operating profit for the year increased by £164,167 to £722,541. The net assets of the company have improved to £999,907 and cash held at the year end increased by £389,090 to £1,029,466.
Principal risks and uncertainties
The potential loss of contracts represents the biggest risk to the business but the company addresses this risk by building on its reputation for delivering first rate service to meet the demands of its customers, whilst using its strong relationships with key suppliers to ensure capacity. The company has sufficient liquidity and secured contracted work in place for the directors to have a reasonable expectation that the company will continue as a going concern for the foreseeable future.
Approved and authorised by the
......................................... |
Birch Utility Services Limited
Directors' Report for the Year Ended 30 September 2022
The directors present their report and the financial statements for the year ended 30 September 2022.
Directors of the company
The directors who held office during the year were as follows:
Financial instruments
Objectives and policies
The company's activities expose it to a number of financial risks including price risk, credit risk, cash flow risk and liquidity risk. The company's response to these risks is detailed below.
The company's principal financial instruments comprise trade debtors, bank balances and trade creditors.
Price risk, credit risk, liquidity risk and cash flow risk
Price risk
The company is exposed to sub contractor and supplier price risk. The company manages its exposure to these risks well by engaging in ongoing negotiations with sub contractors and suppliers over prices and payment discounts. The company looks to fix prices where possible to reduce exposure to price fluctations.
Credit risk
The company's principal financial assets are bank balances, trade debtors and other debtors. The amounts presented in the balance sheet are net of allowances for doubtful debts. This risk is mitigated through the use of debt factoring facilities.
Cash flow risk
The company's activities expose it primarily to the financial risk of recovering amounts due on completion of contracted work.The company manages this risk with its debt factoring facilities and by managing significant capital expenditure through the use of hire purchase contracts.
Liquidity risk
The company's approach to managing liquidity in respect of bank balances is through succesfully maintaining a balance between continuity of funding and flexibility through the use of built up cash reserves.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Approved and authorised by the
......................................... |
Birch Utility Services Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Birch Utility Services Limited
Independent Auditor's Report to the Members of Birch Utility Services Limited
Opinion
We have audited the financial statements of Birch Utility Services Limited (the 'company') for the year ended 30 September 2022, which comprise the Statement of Income and Retained Earnings, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 September 2022 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Birch Utility Services Limited
Independent Auditor's Report to the Members of Birch Utility Services Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Birch Utility Services Limited
Independent Auditor's Report to the Members of Birch Utility Services Limited
Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations as relating to breaches around health and safety regulations. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as The Companies Act 2006, and relevant tax legislation. We considered the extent to which non-compliance with these laws and regulations may have a material effect on the financial statements.
We also evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks were related to the overstatement of profit, either through overstating revenue, understating expenditure or management bias in accounting estimates.
Based on this understanding we designed our audit procedures to identify irregularities. Our procedures involved the following:
• Enquiries to members of Senior Management, regarding their knowledge of any non-compliance or potential non-compliance with laws and regulations that could affect the financial statements;
• Review of any health and safety incidents which have been reported under The Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013 (“RIDDOR”) during the period;
• Challenging assumptions and judgements made by management in its significant accounting estimates;
• Evaluating the design and testing the implementation of management’s key controls designed to prevent and detect irregularities;
• Reviewing draft tax computations;
• Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness; and
• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Birch Utility Services Limited
Independent Auditor's Report to the Members of Birch Utility Services Limited
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
Centenary House
Peninsula Park
Rydon Lane
EX2 7XE
Birch Utility Services Limited
Statement of Income and Retained Earnings
Year Ended 30 September 2022
Note |
2022 |
2021 |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
- |
|
|
Operating profit |
|
|
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar charges |
( |
( |
|
(185,831) |
(126,638) |
||
Profit before tax |
|
|
|
Taxation |
( |
( |
|
Profit for the financial year |
|
|
|
Retained earnings brought forward |
852,097 |
817,490 |
|
Dividends paid |
( |
( |
|
Retained earnings carried forward |
999,807 |
852,097 |
Birch Utility Services Limited
Balance Sheet
30 September 2022
Note |
2022 |
2021 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
Approved and authorised by the
......................................... |
Company Registration Number: 06996561
Birch Utility Services Limited
Statement of Cash Flows
Year Ended 30 September 2022
Note |
2022 |
2021 |
|
Cash flows from operating activities |
|||
Profit for the year |
|
|
|
Adjustments to cash flows from non-cash items |
|||
Depreciation and amortisation |
|
|
|
Profit on disposal of tangible assets |
( |
( |
|
Finance income |
( |
( |
|
Finance costs |
|
|
|
Tax expense |
|
|
|
|
|
||
Working capital adjustments |
|||
Decrease/(increase) in trade debtors |
|
( |
|
(Decrease)/increase in trade creditors |
( |
|
|
Increase in provisions |
|
|
|
Cash generated from operations |
|
|
|
Tax received/(paid) |
|
( |
|
Net cash flow from operating activities |
|
|
|
Cash flows from investing activities |
|||
Interest received |
|
|
|
Acquisitions of tangible assets |
( |
( |
|
Proceeds from sale of tangible assets |
|
|
|
Net cash flows from investing activities |
|
|
|
Cash flows from financing activities |
|||
Interest paid |
( |
( |
|
(Payments to)/proceeds from bank borrowing |
( |
|
|
Payments to finance lease creditors |
( |
( |
|
Dividends paid |
( |
( |
|
Net cash flows from financing activities |
( |
( |
|
Net increase/(decrease) in cash and cash equivalents |
|
( |
|
Cash and cash equivalents at 1 October |
|
|
|
Cash and cash equivalents at 30 September |
1,029,466 |
640,376 |
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Unit A
1 Battle Road
Heathfield
Newton Abbot
Devon
TQ12 6RY
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 financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and the Companies Act 2006. There are no material departures from FRS 102.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The functional currency of Birch Utility Services Limited is considered to be pounds sterling because this is the currency of the primary economic environment in which the company operates.
Going concern
Due to the nature of the company’s operations, the ongoing impact of the war in Ukraine and general economic uncertainty are not expected to have a significant impact. Nevertheless, the directors have reviewed budgets and cash flow forecasts and are satisfied that, based on the information available to date, the company is able to operate within available resources for a period of at least 12 months from the date of approval of these financial statements. Accordingly the directors continue to adopt the going concern basis of preparation.
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
Key sources of estimation uncertainty
Provision for re-cuts
The company is contractually required to maintain a minimum safety clearance for a set period after intiial work is performed. Consequently, revisits may be required and the accounts include a provision based on the estimated cost of performing these recuts to ensure the specified safety clearance is maintained. The carrying amount is £1,000,381 (2021 -£732,866).
Revenue recognition
Turnover represents the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities exclusive of value added tax. Revenue is recognised upon completion of spans cut.
Government grants
During the prior year the company recognised Coronavirus Job Retention Scheme ("CJRS") grant income from the government designed to mitigate the impact of Covid-19. The company elected to account for such grants under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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 |
Leasehold improvements |
Over the term of the lease |
Plant and machinery |
20% straight line |
Fixtures and equipment |
20% - 33% straight line |
Motor vehicles |
20% straight line |
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
Turnover |
The analysis of the company's Turnover for the year from continuing operations is as follows:
2022 |
2021 |
|
Rendering of services |
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
2022 |
2021 |
|
Government grants |
- |
|
Operating profit |
Arrived at after charging/(crediting)
2022 |
2021 |
|
Depreciation expense |
|
|
Operating lease expense - plant and machinery |
|
|
Profit on disposal of property, plant and equipment |
( |
( |
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
2022 |
2021 |
|
Wages and salaries |
|
|
Social security costs |
|
|
Pension costs, defined contribution scheme |
|
|
|
|
The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:
2022 |
2021 |
|
Production |
|
|
Administration and support |
|
|
|
|
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
Directors' remuneration |
The directors' remuneration for the year was as follows:
2022 |
2021 |
|
Remuneration |
|
|
Contributions paid to money purchase schemes |
|
|
37,089 |
31,831 |
During the year the number of directors who were receiving benefits and share incentives was as follows:
2022 |
2021 |
|
Accruing benefits under money purchase pension scheme |
|
|
Auditor's remuneration |
2022 |
2021 |
|
Audit of the financial statements |
|
|
Interest payable and similar expenses |
2022 |
2021 |
|
Interest on bank overdrafts and borrowings |
|
|
Interest on obligations under hire purchase contracts |
|
|
|
|
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
Taxation |
Tax charged/(credited) in the profit and loss account
2022 |
2021 |
|
Current taxation |
||
UK corporation tax adjustment to prior periods |
- |
( |
Deferred taxation |
||
Arising from origination and reversal of timing differences |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2021 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
2022 |
2021 |
|
Profit before tax |
|
|
Corporation tax at standard rate |
|
|
Effect of expense not deductible in determining taxable profit |
- |
|
Effect of tax losses |
- |
|
UK deferred tax expense relating to changes in tax rates or laws |
|
|
Increase/(decrease) in tax from adjustment for prior periods |
|
( |
Tax decrease from effect of capital allowances and depreciation |
( |
( |
Other tax effects |
( |
( |
Total tax charge |
|
|
Deferred tax
Deferred tax assets and liabilities
2022 |
Liability |
Fixed asset timing differences |
|
Losses and other deductions |
( |
|
2021 |
Liability |
Fixed asset timing differences |
|
Losses and other deductions |
( |
|
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
Tangible assets |
Leasehold improvements |
Plant and machinery |
Fixtures and equipment |
Motor vehicles |
Total |
|
Cost or valuation |
|||||
At 1 October 2021 |
|
|
|
|
|
Additions |
- |
|
|
|
|
Disposals |
- |
( |
- |
( |
( |
At 30 September 2022 |
|
|
|
|
|
Depreciation |
|||||
At 1 October 2021 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
- |
( |
- |
( |
( |
At 30 September 2022 |
|
|
|
|
|
Carrying amount |
|||||
At 30 September 2022 |
- |
|
|
|
|
At 30 September 2021 |
|
|
|
|
|
Debtors |
2022 |
2021 |
|
Trade debtors |
|
|
Other debtors |
|
|
Prepayments |
|
|
|
|
Included in trade debtors as at 30 September 2022 are net debts that have been factored amounting to £421,372 (2021: £612,971).
Cash and cash equivalents |
2022 |
2021 |
|
Cash at bank |
|
|
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
Creditors |
Note |
2022 |
2021 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Social security and other taxes |
|
|
|
Other creditors |
|
|
|
Accruals |
|
|
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.
Loans and borrowings |
2022 |
2021 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
|
Hire purchase contracts |
|
|
|
|
2022 |
2021 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
Hire purchase contracts |
|
|
|
|
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
Obligations under leases and hire purchase contracts |
Finance leases
The total of future minimum lease payments is as follows:
2022 |
2021 |
|
Not later than one year |
|
|
Later than one year and not later than five years |
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
2022 |
2021 |
|
Not later than one year |
|
|
Later than one year and not later than five years |
|
- |
|
|
Provisions for liabilities |
Deferred tax |
Provision for re-cuts |
Total |
|
At 1 October 2021 |
|
|
|
Increase in existing provisions |
|
|
|
At 30 September 2022 |
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
|||
No. |
£ |
No. |
£ |
|
|
|
50 |
|
50 |
|
|
50 |
|
50 |
|
|
|
|
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
Commitments |
Capital commitments
The total amount contracted for but not provided in the financial statements was £
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Related party transactions |
Transactions with directors |
2022 |
At 1 October 2021 |
Advances to director |
Repayments by director |
At 30 September 2022 |
K Ricketts |
||||
Director's current account |
|
( |
|
|
J Birch |
||||
Director's current account |
( |
( |
|
|
2021 |
At 1 October 2020 |
Advances to director |
Repayments by director |
At 30 September 2021 |
K Ricketts |
||||
Director's current account |
|
( |
|
|
J Birch |
||||
Director's current account |
( |
( |
|
( |
Birch Utility Services Limited
Notes to the Financial Statements
Year Ended 30 September 2022
Analysis of changes in net debt |
At 1 October 2021 |
Financing cash flows |
New finance leases |
At 30 September 2022 |
|
Cash and cash equivalents |
||||
Cash |
640,376 |
389,090 |
- |
1,029,466 |
Borrowings |
||||
Long term borrowings |
(128,000) |
13,630 |
- |
(114,370) |
Lease liabilities |
(2,517,033) |
1,189,378 |
(720,324) |
(2,047,979) |
(2,645,033) |
1,203,008 |
(720,324) |
(2,162,349) |
|
( |
|
( |
( |
|
|