Leinster Environmentals (UK) Limited 31/03/2023 iXBRL

Leinster Environmentals (UK) Limited 31/03/2023 iXBRL

LEINSTER ENVIRONMENTALS (UK) LIMITED - Company Information

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4 01/04/2022 31/03/2023 2023-03-31 false false false false true false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 23.1 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP NI613594 2022-04-01 2023-03-31 NI613594 2023-03-31 NI613594 2022-03-31 NI613594 2021-04-01 2022-03-31 NI613594 2022-03-31 NI613594 2021-03-31 NI613594 bus:RegisteredOffice 2022-04-01 2023-03-31 NI613594 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 NI613594 bus:Director1 2022-04-01 2023-03-31 NI613594 bus:CompanySecretary1 2022-04-01 2023-03-31 NI613594 core:MotorVehicles 2022-03-31 NI613594 core:MotorVehicles 2023-03-31 NI613594 core:WithinOneYear 2023-03-31 NI613594 core:WithinOneYear 2022-03-31 NI613594 core:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 NI613594 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 NI613594 core:ShareCapital 2023-03-31 NI613594 core:ShareCapital 2022-03-31 NI613594 core:RetainedEarningsAccumulatedLosses 2023-03-31 NI613594 core:RetainedEarningsAccumulatedLosses 2022-03-31 NI613594 core:ShareCapital 2021-03-31 NI613594 core:RetainedEarningsAccumulatedLosses 2021-03-31 NI613594 core:PreviouslyStatedAmount core:ShareCapital 2023-03-31 NI613594 core:MotorVehicles 2022-04-01 2023-03-31 NI613594 core:MotorVehicles 2022-03-31 NI613594 bus:Director1 2022-03-31 NI613594 bus:SmallEntities 2022-04-01 2023-03-31 NI613594 bus:Audited 2022-04-01 2023-03-31 NI613594 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 NI613594 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 NI613594 bus:FullAccounts 2022-04-01 2023-03-31
Company registration number: NI613594
Leinster Environmentals (UK) Limited
Trading as Leinster Environmentals (UK) Limited
Filleted financial statements
31 March 2023
Leinster Environmentals (UK) Limited
Contents
Directors and other information
Director's responsibilities statement
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Leinster Environmentals (UK) Limited
Directors and other information
Director Mr. James Loughran
Secretary Mr. James Loughran
Company number NI613594
Registered office Dromalane Mill
Newry
Co. Down
BT35 8QS
Business address Dromalane Mill
Newry
Co. Down
BT35 8QS
Auditor John Smyth fcca
Fairacres
Carrick Road
Dundalk
Co. Louth
Accountants Patrick Kirk & Company Accountants Limited
3 Roden Place
Dundalk
Co. Louth
Bankers Ulster Bank Limited
86 Hill Street
Newry
BT34 1BT
Solicitors John C Kieran & Company
Main Street
Ardee
Co. Louth
Leinster Environmentals (UK) Limited
Director's responsibilities statement
Year ended 31/03/23
The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is 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 him 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.
Leinster Environmentals (UK) Limited
Statement of financial position
31/03/23
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 49,133 34,379
_______ _______
49,133 34,379
Current assets
Debtors 6 3,748,699 2,256,774
Cash at bank and in hand 272,645 152,947
_______ _______
4,021,344 2,409,721
Creditors: amounts falling due
within one year 7 ( 1,605,748) ( 1,464,235)
_______ _______
Net current assets 2,415,596 945,486
_______ _______
Total assets less current liabilities 2,464,729 979,865
_______ _______
Net assets 2,464,729 979,865
_______ _______
Capital and reserves
Called up share capital 101 101
Profit and loss account 2,464,628 979,764
_______ _______
Shareholders funds 2,464,729 979,865
_______ _______
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 25 March 2024 , and are signed on behalf of the board by:
Mr. James Loughran
Director
Company registration number: NI613594
Leinster Environmentals (UK) Limited
Statement of changes in equity
Year ended 31/03/23
Called up share capital Profit and loss account Total
£ £ £
At 01/04/21 101 718,114 718,215
Profit for the year 261,650 261,650
_______ _______ _______
Total comprehensive income for the year - 261,650 261,650
_______ _______ _______
At 31/03/22 and 01/04/22 101 979,764 979,865
Profit for the year 1,484,864 1,484,864
_______ _______ _______
Total comprehensive income for the year - 1,484,864 1,484,864
_______ _______ _______
At 31/03/23 101 2,464,628 2,464,729
_______ _______ _______
Leinster Environmentals (UK) Limited
Notes to the financial statements
Year ended 31/03/23
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Leinster Environmentals (UK) Limited, Dromalane Mill, Newry, Co. Down, BT35 8QS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 4 (2022: 3 ).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Wages and salaries 288,980 160,101
Other pension costs 4,214 3,385
_______ _______
293,194 163,486
_______ _______
5. Tangible assets
Motor vehicles Total
£ £
Cost
At 01/04/22 76,944 76,944
Additions 35,293 35,293
_______ _______
At 31/03/23 112,237 112,237
_______ _______
Depreciation
At 01/04/22 42,565 42,565
Charge for the year 20,539 20,539
_______ _______
At 31/03/23 63,104 63,104
_______ _______
Carrying amount
At 31/03/23 49,133 49,133
_______ _______
At 31/03/22 34,379 34,379
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 1,570,825 1,273,078
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,180,523 -
Other debtors 997,351 983,696
_______ _______
3,748,699 2,256,774
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 4,208 3,392
Trade creditors 936,863 638,398
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 261,791
Corporation tax 169,208 135,763
Social security and other taxes 3,900 4,817
Other creditors 491,569 420,074
_______ _______
1,605,748 1,464,235
_______ _______
8. Events after the end of the reporting period
There have been no significant events affecting the company since the year end.
9. Summary audit opinion
The auditor's report dated 26 March 2024 was unqualified.
The senior statutory auditor was John Smyth for and on behalf of John Smyth fcca
10. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
2023 2022
£ £
Mr. James Loughran - 540
_______ _______