North West Environmental Services Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09069074 (England and Wales)

Financial Statements for the Year Ended 30 June 2023

for

North West Environmental Services

(Drainage and Groundworks) Limited

Page

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mrs A J Smith

REGISTERED OFFICE:

Rear Yard, Teal Business Centre

Tanhouse Industrial Estate

Dennis Road

Widnes

Cheshire

WA8 0YQ

REGISTERED NUMBER:

09069074 (England and Wales)

ACCOUNTANTS:

HLP Ltd

Accounting and Tax Solutions

Hillgate Place

77 Middle Hillgate

Stockport

Cheshire

SK1 3EH

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North West Environmental Services (Drainage and Groundworks) Limited for the period ended 30 June 2023 which comprises the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of North West Environmental Services (Drainage and Groundworks) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of North West Environmental Services (Drainage and Groundworks) Limited and state those matters that we have agreed to state to the Board of Directors of North West Environmental Services (Drainage and Groundworks) Limited, as a body, 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 Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that North West Environmental Services (Drainage and Groundworks) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position of profit or loss of North West Environmental Services (Drainage and Groundworks) Limited. You consider that North West Environmental Services (Drainage and Groundworks) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of North West Environmental Services (Drainage and Groundworks) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given us and we do not, therefore, express any opinion on the statutory financial statements.

HLP Ltd

Accounting and Tax Solutions

Hillgate Place

77 Middle Hillgate

Stockport

Cheshire

SK1 3EH

14 March 2024

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

49,389

15,788

49,389

15,788

CURRENT ASSETS

Stocks

3,236

5,260

Debtors

6

287,487

196,414

Cash at bank

119,826

160,936

410,549

362,610

CREDITORS

Amounts falling due within one year

7

107,900

83,958

NET CURRENT ASSETS

302,649

278,652

TOTAL ASSETS LESS CURRENT LIABILITIES

352,038

294,440

CREDITORS

Amounts falling due after more than one year

8

(20,729

)

(34,389

)

PROVISIONS FOR LIABILITIES

(9,384

)

(2,999

)

NET ASSETS

321,925

257,052

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

321,825

256,952

SHAREHOLDERS' FUNDS

321,925

257,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 March 2024 and were signed by:

Mrs A J Smith - Director

1.	STATUTORY INFORMATION

North West Environmental Services (Drainage and Groundworks) 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.

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

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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover represents amounts receivable for goods and services provided in the normal course of business, net of trade discounts, VAT and other sales related taxes.

Turnover is attributable to the principle activities of the company which is carried out entirely within the United Kingdom.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of four years.

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions 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, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless 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.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, 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 the suppliers. Accounts 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 Profit and Loss Account 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 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.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2022

and 30 June 2023

10,800

AMORTISATION

At 1 July 2022

and 30 June 2023

10,800

NET BOOK VALUE

At 30 June 2023

-

At 30 June 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 July 2022

22,367

16,965

1,802

41,134

Additions

11,727

26,500

-

38,227

At 30 June 2023

34,094

43,465

1,802

79,361

DEPRECIATION

At 1 July 2022

9,698

15,220

428

25,346

Charge for year

3,846

437

343

4,626

At 30 June 2023

13,544

15,657

771

29,972

NET BOOK VALUE

At 30 June 2023

20,550

27,808

1,031

49,389

At 30 June 2022

12,669

1,745

1,374

15,788

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 July 2022

13,198

16,965

30,163

Transfer to ownership

-

(16,965

)

(16,965

)

At 30 June 2023

13,198

-

13,198

DEPRECIATION

At 1 July 2022

5,774

15,220

20,994

Charge for year

1,856

-

1,856

Transfer to ownership

-

(15,220

)

(15,220

)

At 30 June 2023

7,630

-

7,630

NET BOOK VALUE

At 30 June 2023

5,568

-

5,568

At 30 June 2022

7,424

1,745

9,169

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

103,470

76,063

Amounts owed by associates

181,475

116,175

Other debtors

2,542

4,176

287,487

196,414

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

9,957

9,745

Hire purchase contracts

3,711

3,437

Trade creditors

54,538

20,732

Taxation and social security

24,502

31,273

Other creditors

15,192

18,771

107,900

83,958

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

20,729

30,678

Hire purchase contracts

-

3,711

20,729

34,389

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

3,711

7,148