Envirohire Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03444709 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2022

for

Envirohire Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A M Ellison

B J Ellison

S K Ellison

SECRETARY:

S C Brown

REGISTERED OFFICE:

Graig Lelo Works

Bryn Saith Marchog

Corwen

Denbighshire

LL21 9SD

REGISTERED NUMBER:

03444709 (England and Wales)

ACCOUNTANTS:

Connolly Accountants & Business Advisors Ltd

Chartered Certified Accountants

The Stable Yard

Vicarage Road

Stony Stratford

Milton Keynes

Buckinghamshire

MK11 1BN

FIXED ASSETS

Tangible assets

4

2,440,431

2,195,258

CURRENT ASSETS

Stocks

34,777

54,960

Debtors

5

533,917

382,597

Cash at bank

15,581

140,858

584,275

578,415

CREDITORS

Amounts falling due within one year

6

299,686

172,000

NET CURRENT ASSETS

284,589

406,415

TOTAL ASSETS LESS CURRENT LIABILITIES

2,725,020

2,601,673

CREDITORS

Amounts falling due after more than one year

7

(733,685

)

(772,327

)

PROVISIONS FOR LIABILITIES

(224,995

)

(179,234

)

NET ASSETS

1,766,340

1,650,112

CAPITAL AND RESERVES

Called up share capital

612

612

Capital redemption reserve

400

400

Other reserves

123,769

45,000

Retained earnings

1,641,559

1,604,100

SHAREHOLDERS' FUNDS

1,766,340

1,650,112

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

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

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

Mrs A M Ellison - Director

1.	STATUTORY INFORMATION

Envirohire 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 as modified by the revaluation of certain assets.

Turnover

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

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 etc

-

3 years, 25% on cost and 12.5% on cost

Government grants

Coronavirus Business Interruption Loan Scheme

In accordance with FRS 102 paragraph 11.13, transactions relating to this loan are valued initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method. Government contributions towards interest have been recognised under other income.

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 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 September 2021

347,092

3,711,472

4,058,564

Additions

-

293,375

293,375

Disposals

-

(264,146

)

(264,146

)

Revaluations

147,908

(580,741

)

(432,833

)

At 31 August 2022

495,000

3,159,960

3,654,960

DEPRECIATION

At 1 September 2021

-

1,863,306

1,863,306

Charge for year

-

270,763

270,763

Eliminated on disposal

-

(257,072

)

(257,072

)

Revaluation adjustments

-

(662,468

)

(662,468

)

At 31 August 2022

-

1,214,529

1,214,529

NET BOOK VALUE

At 31 August 2022

495,000

1,945,431

2,440,431

At 31 August 2021

347,092

1,848,166

2,195,258

Cost or valuation at 31 August 2022 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2017

60,000

-

60,000

Valuation in 2022

147,908

531,270

679,178

Cost

287,092

2,628,690

2,915,782

495,000

3,159,960

3,654,960

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

Plant and

machinery

etc

£

COST OR VALUATION

At 1 September 2021

1,814,446

Additions

171,759

Revaluations

(219,330

)

Transfer to ownership

(483,979

)

At 31 August 2022

1,282,896

DEPRECIATION

At 1 September 2021

753,639

Charge for year

136,557

Revaluation adjustments

(477,681

)

At 31 August 2022

412,515

NET BOOK VALUE

At 31 August 2022

870,381

At 31 August 2021

1,060,807

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

as restated

£

£

Trade debtors

144,998

23,359

Amounts owed by group undertakings

381,336

327,244

Other debtors

7,583

31,994

533,917

382,597

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

as restated

£

£

Bank loans and overdrafts

60,925

32,302

Hire purchase contracts

188,213

101,810

Trade creditors

33,934

14,967

Amounts owed to group undertakings

7,272

7,272

Taxation and social security

7,417

13,489

Other creditors

1,925

2,160

299,686

172,000

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

as restated

£

£

Bank loans

202,508

290,910

Hire purchase contracts

531,177

481,417

733,685

772,327

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

31,233

222,558

Hire purchase

18,823

86,690

50,056

309,248

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

as restated

£

£

Bank loans

263,433

-

There is a charge registered at Companies House against the property which the Company owns.

There is a fixed and floating charge registered at Companies House over assets held by the Company.