ENVIROTEC_LIMITED - Accounts

ENVIROTEC LIMITED - Company Information

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Company Registration No. 01504862 (England and Wales)

ENVIROTEC LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

ENVIROTEC LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ENVIROTEC LIMITED

ABBREVIATED BALANCE SHEET

AS AT

29 FEBRUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,363,281

1,416,192

Current assets

Stocks

166,164

166,724

Debtors

1,919,694

1,619,738

Cash at bank and in hand

24,116

67,024

2,109,974

1,853,486

Creditors: amounts falling due within one year

(786,032)

(627,411)

Net current assets

1,323,942

1,226,075

Total assets less current liabilities

2,687,223

2,642,267

Provisions for liabilities

(18,583)

(22,800)

2,668,640

2,619,467

Capital and reserves

Called up share capital

10,000

Revaluation reserve

205,323

Profit and loss account

2,453,317

2,404,144

Shareholders' funds

2,668,640

2,619,467

For the financial year ended 29 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 16 November 2016

C Lister

Director

Company Registration No. 01504862

ENVIROTEC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 29 FEBRUARY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Goods and services are recognised in the financial statements as they are provided.

Rental income represents amounts receivable net of VAT and is recognised evenly over the period to which the rent relates.

1.4

Tangible fixed assets and depreciation

Depreciation is calculated to write down the cost or valuation less estimated residual value of all tangible fixed assets, except freehold land, over their expected useful lives. The rates and periods generally applicable are:

Freehold land and buildings

straight line over 50 years

Plant and machinery

15% on reducing balance

Fixtures, fittings & equipment

15% on reducing balance

Motor vehicles

25% straight line

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.5

Stock and work in progress

Raw materials are stated at the lower of cost and net realisable value. Component stock manufactured in-house is valued at cost of materials plus attributable labour.

Work in progress is valued at selling price less product group margin adjusted for proportion complete.

Finished goods are valued at selling price less product group margin.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

No provision has been made for deferred tax on gains recognised on revaluing property to its market value as account is taken of any indexation allowance arising on the gain.

ENVIROTEC LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 29 FEBRUARY 2016

Accounting policies

(Continued)

- 3 -

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost or valuation

At 1 March 2015

2,292,734

Additions

6,701

At 29 February 2016

2,299,435

Depreciation

At 1 March 2015

876,542

Charge for the year

59,612

At 29 February 2016

936,154

Net book value

At 29 February 2016

1,363,281

At 28 February 2015

1,416,192

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £238,236 (2015 - £0).

The secured creditors relates to an invoice finance facility.

Share capital

2016

2015

Allotted, called up and fully paid

10,000 Ordinary shares of £1 each

10,000

Ultimate parent company

The parent company is Crossco (820) Limited, a company registered in England and Wales.