LCM Environmental Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 02172861 (England and Wales)

LCM ENVIRONMENTAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Orr

S Shaw

M G King

J F Ward

REGISTERED OFFICE:

Unit 1 Langlands Business Park

Uffculme

Cullompton

Devon

EX15 3DA

REGISTERED NUMBER:

02172861 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Tangible assets

4

1,332,192

1,242,263

Investments

5

8,100

8,100

1,340,292

1,250,363

CURRENT ASSETS

Stocks

313,583

561,433

Debtors

1,522,149

1,122,093

Cash at bank and in hand

107,296

8,635

1,943,028

1,692,161

CREDITORS

Amounts falling due within one year

2,322,193

2,094,271

NET CURRENT LIABILITIES

(379,165

)

(402,110

)

TOTAL ASSETS LESS CURRENT LIABILITIES

961,127

848,253

CREDITORS

Amounts falling due after more than one year

6

(289,424

)

(259,391

)

PROVISIONS FOR LIABILITIES

9

(80,531

)

(53,801

)

NET ASSETS

591,172

535,061

CAPITAL AND RESERVES

Called up share capital

10

380,000

380,000

Retained earnings

211,172

155,061

SHAREHOLDERS' FUNDS

591,172

535,061

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 May 2017 and were signed on its behalf by:

M J Orr - Director

1.	STATUTORY INFORMATION

LCM Environmental 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 the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK

and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared

under the historical cost convention as modified by the revaluation of certain assets.

This is the first year in which the financial statements have been prepared under FRS 102 and the

comparative prior year amounts have been restated.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and

services to customers.

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.

Improvements to property

-

Straight line over 10 years

Plant and machinery

-

10% on cost and 7.5% on cost

Fixtures and equipment

-

20% on cost

Motor vehicles

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for absolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as

otherwise required in the paragraphs below.

Unrelieved 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.

Deferred tax shall not be recognised on permanent differences, other than a business combination

where assets (other than goodwill) give rise to an deferred tax asset or liability.

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.

Exemption from consolidation

The company has taken advantage of the Companies Act Section 398 exemption for small groups

from preparing consolidated accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 67 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

2,403,721

Additions

377,919

Disposals

(25,074

)

At 31 December 2016

2,756,566

DEPRECIATION

At 1 January 2016

1,161,458

Charge for year

287,641

Eliminated on disposal

(24,725

)

At 31 December 2016

1,424,374

NET BOOK VALUE

At 31 December 2016

1,332,192

At 31 December 2015

1,242,263

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

Totals

£

COST

At 1 January 2016

623,729

Additions

262,476

Transfer to ownership

(41,234

)

At 31 December 2016

844,971

DEPRECIATION

At 1 January 2016

119,937

Charge for year

87,636

Transfer to ownership

(23,091

)

At 31 December 2016

184,482

NET BOOK VALUE

At 31 December 2016

660,489

At 31 December 2015

503,792

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 January 2016

and 31 December 2016

8,100

NET BOOK VALUE

At 31 December 2016

8,100

At 31 December 2015

8,100

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts (see note 7)

289,424

259,391

7.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2016

2015

£

£

Gross obligations repayable:

Within one year

201,603

151,334

Between one and five years

307,085

277,026

508,688

428,360

Finance charges repayable:

Within one year

21,546

20,069

Between one and five years

17,661

17,635

39,207

37,704

Net obligations repayable:

Within one year

180,057

131,265

Between one and five years

289,424

259,391

469,481

390,656

8.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank overdraft

-

22,461

Hire purchase contracts

469,481

390,656

Other creditors

1,110,809

836,748

1,580,290

1,249,865

9.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

80,531

53,801

Deferred

tax

£

Balance at 1 January 2016

53,801

Accelerated capital

allowances

26,730

Balance at 31 December 2016

80,531

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

200,000

Ordinary shares

£1

200,000

200,000

180,000

Ordinary A shares

£1

180,000

180,000

380,000

380,000

11.	ULTIMATE CONTROLLING PARTY

There is no overall controlling party.

12.	FIRST YEAR ADOPTION

Transitional relief

In preparing the accounts, the directors have considered whether in applying the accounting policies

required by FRS 102 Section 1A a restatement of comparative items was needed. No restatements

were required.