Envirohire Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03444709 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Envirohire Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

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

2,282,259

2,157,061

CURRENT ASSETS

Stocks

91,757

34,777

Debtors

5

499,027

533,917

Cash at bank

234,308

15,581

825,092

584,275

CREDITORS

Amounts falling due within one year

6

381,434

299,687

NET CURRENT ASSETS

443,658

284,588

TOTAL ASSETS LESS CURRENT LIABILITIES

2,725,917

2,441,649

CREDITORS

Amounts falling due after more than one year

7

(677,546

)

(733,685

)

PROVISIONS FOR LIABILITIES

(227,347

)

(154,152

)

NET ASSETS

1,821,024

1,553,812

CAPITAL AND RESERVES

Called up share capital

612

612

Capital redemption reserve

400

400

Other reserves

123,769

123,769

Retained earnings

1,696,243

1,429,031

SHAREHOLDERS' FUNDS

1,821,024

1,553,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 21 November 2023 and were signed on its behalf by:

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 & machinery

-

25% on cost and 12.5% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

3 years

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 6 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 September 2022

495,000

2,867,504

3,362,504

Additions

-

301,172

301,172

Disposals

-

(71,470

)

(71,470

)

Revaluations

-

(549,489

)

(549,489

)

At 31 August 2023

495,000

2,547,717

3,042,717

DEPRECIATION

At 1 September 2022

-

1,205,443

1,205,443

Charge for year

-

281,412

281,412

Eliminated on disposal

-

(92,328

)

(92,328

)

Revaluation adjustments

-

(634,069

)

(634,069

)

At 31 August 2023

-

760,458

760,458

NET BOOK VALUE

At 31 August 2023

495,000

1,787,259

2,282,259

At 31 August 2022

495,000

1,662,061

2,157,061

Cost or valuation at 31 August 2023 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

Valuation in 2023

-

(874,406

)

(874,406

)

Cost

287,092

2,890,853

3,177,945

495,000

2,547,717

3,042,717

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 2022

1,255,440

Additions

253,604

Disposals

(16,601

)

Revaluations

(159,756

)

At 31 August 2023

1,332,687

DEPRECIATION

At 1 September 2022

403,429

Charge for year

183,253

Eliminated on disposal

(64,454

)

Revaluation adjustments

(152,643

)

At 31 August 2023

369,585

NET BOOK VALUE

At 31 August 2023

963,102

At 31 August 2022

852,011

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

as restated

£

£

Trade debtors

131,730

144,998

Amounts owed by group undertakings

364,730

381,336

Other debtors

2,567

7,583

499,027

533,917

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

as restated

£

£

Bank loans and overdrafts

62,317

60,925

Hire purchase contracts

242,359

188,213

Trade creditors

20,004

33,935

Amounts owed to group undertakings

7,272

7,272

Taxation and social security

46,375

7,417

Other creditors

3,107

1,925

381,434

299,687

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

as restated

£

£

Bank loans

160,125

202,508

Hire purchase contracts

517,421

531,177

677,546

733,685

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

11,317

31,233

Hire purchase

-

18,823

11,317

50,056

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

as restated

£

£

Bank loans

222,442

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.