Intech Environmental Limited - Period Ending 2015-04-30

Registration number: 03010215

Intech Environmental Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

Thompson Jones Business Solutions Limited
Chartered Accountants
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Intech Environmental Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Intech Environmental Limited
(Registration number: 03010215)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					361,929			260,787
Investments					44,564			44,564
					406,493			305,351
Current assets
Stocks					48,693			64,007
Debtors					410,553			352,448
Cash at bank and in hand					48,512			46,660
					507,758			463,115
Creditors: Amounts falling due within one year					(334,390)			(298,180)
Net current assets					173,368			164,935
Total assets less current liabilities					579,861			470,286
Creditors: Amounts falling due after more than one year					(10,250)			(14,000)
Provisions for liabilities					(53,500)			(27,000)
Net assets					516,111			429,286
Capital and reserves
Called up share capital		4			74			74
Capital redemption reserve					30			30
Profit and loss account					516,007			429,182
Shareholders' funds					516,111			429,286

For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 25 November 2015 and signed on its behalf by:

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Intech Environmental Limited
(Registration number: 03010215)
Abbreviated Balance Sheet at 30 April 2015
......... continued

.........................................
R Hickabottom
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Intech Environmental Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts receivable, net of value added tax, in respect of industrial cleaning services.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% - 50% straight line basis
Motor vehicles	30% - 50% straight line basis
Office equipment	15% - 50% straight line basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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Intech Environmental Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 May 2014		1,795,495			44,564			1,840,059
Additions		215,941			-			215,941
Disposals		(19,000)			-			(19,000)
At 30 April 2015		1,992,436			44,564			2,037,000
Depreciation
At 1 May 2014		1,534,708			-			1,534,708
Charge for the year		110,099			-			110,099
Eliminated on disposals		(14,300)			-			(14,300)
At 30 April 2015		1,630,507			-			1,630,507
Net book value
At 30 April 2015		361,929			44,564			406,493
At 30 April 2014		260,787			44,564			305,351

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Page 4

Intech Environmental Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Five Star Industrial Cleaners Limited	England and Wales	Ordinary	100%	Industrial cleaning

The loss for the financial period of Five Star Industrial Cleaners Limited was £5,115 and the aggregate amount of capital and reserves at the end of the period was £195,538.

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		38,600			42,279
Amounts falling due after more than one year		10,250			14,000
Total secured creditors		48,850			56,279

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		70			70			70			70
Ordinary A shares of £1 each		4			4			4			4
		74			74			74			74

New shares allotted

During the year - having an aggregate nominal value of £nil were allotted for an aggregate consideration of £nil.

Page 5