Pollution Monitors Limited - Period Ending 2016-12-31

Registration number: 01979565

Pollution Monitors Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

Accentis
28-30 High Street
Guildford
GU1 3EL

Pollution Monitors Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4 to 5
Statement of Changes in Equity	6
Notes to the Financial Statements	7 to 12

Pollution Monitors Limited

Company Information

Directors

Mr Peter Holbrow Mrs Denise Holbrow Mr John Holbrow

Company secretary

Mrs Denise Holbrow

Registered office

Unit G3 The Mayford Centre Mayford Green Woking Surrey GU22 0PP

Accountants

Accentis 28-30 High Street Guildford GU1 3EL

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pollution Monitors Limited
for the Year Ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pollution Monitors Limited for the year ended 31 December 2016 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Pollution Monitors Limited, as a body, in accordance with the terms of our engagement letter dated 6 May 2015. Our work has been undertaken solely to prepare for your approval the accounts of Pollution Monitors Limited and state those matters that we have agreed to state to the Board of Directors of Pollution Monitors Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pollution Monitors Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pollution Monitors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pollution Monitors Limited. You consider that Pollution Monitors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Pollution Monitors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Accentis
28-30 High Street
Guildford
GU1 3EL

19 July 2017

Page 2

Pollution Monitors Limited

Statement of Comprehensive Income for the Year Ended 31 December 2016

	Note	2016 £	2015 £
Profit for the year		137,294	169,324
Total comprehensive income for the year		137,294	169,324

The notes on pages 7 to 12 form an integral part of these financial statements.

Page 3

Pollution Monitors Limited

(Registration number: 01979565)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	4	23,905	21,292
Current assets
Stocks	5	70,298	80,099
Debtors	6	223,812	131,790
Cash at bank and in hand		115,565	151,866
		409,675	363,755
Creditors: Amounts falling due within one year	7	(169,555)	(152,579)
Net current assets		240,120	211,176
Total assets less current liabilities		264,025	232,468
Provisions for liabilities		(4,425)	(3,366)
Net assets		259,600	229,102
Capital and reserves
Called up share capital		300	300
Share premium reserve		200	200
Profit and loss account		259,100	228,602
Total equity		259,600	229,102

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 7 to 12 form an integral part of these financial statements.

Page 4

Pollution Monitors Limited

(Registration number: 01979565)
Balance Sheet as at 31 December 2016

Approved and authorised by the Board on 19 July 2017 and signed on its behalf by:
 

.........................................

Mr Peter Holbrow

Director

.........................................

Mr John Holbrow

Director

The notes on pages 7 to 12 form an integral part of these financial statements.

Page 5

Pollution Monitors Limited

Statement of Changes in Equity for the Year Ended 31 December 2016

	Share capital £	Share premium £	Profit and loss account £	Total £
At 1 January 2016	300	200	228,602	229,102
Profit for the year	-	-	137,294	137,294
Total comprehensive income	-	-	137,294	137,294
Dividends	-	-	(106,796)	(106,796)
At 31 December 2016	300	200	259,100	259,600

	Share capital £	Share premium £	Profit and loss account £	Total £
At 1 January 2015	300	200	173,774	174,274
Profit for the year	-	-	169,324	169,324
Total comprehensive income	-	-	169,324	169,324
Dividends	-	-	(114,496)	(114,496)
At 31 December 2015	300	200	228,602	229,102

The notes on pages 7 to 12 form an integral part of these financial statements.

Page 6

Pollution Monitors Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Unit G3
The Mayford Centre
Mayford Green
Woking
Surrey
GU22 0PP

These financial statements were authorised for issue by the Board on 19 July 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% on cost
Fixtures and fittings	Straight line over 7 years
Motor vehicles	25% on cost
Computer equipment	Straight line over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 7

Pollution Monitors Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2015 - 11).

Page 8

Pollution Monitors Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2016	14,961	25,586	23,736	64,283
Additions	592	8,750	6,216	15,558
Disposals	-	(4,100)	(4,032)	(8,132)
At 31 December 2016	15,553	30,236	25,920	71,709
Depreciation
At 1 January 2016	13,109	12,529	17,353	42,991
Charge for the year	1,104	5,713	3,821	10,638
Eliminated on disposal	-	(1,793)	(4,032)	(5,825)
At 31 December 2016	14,213	16,449	17,142	47,804
Carrying amount
At 31 December 2016	1,340	13,787	8,778	23,905
At 31 December 2015	1,852	13,057	6,383	21,292

5

Stocks

	2016 £	2015 £
Work in progress	-	22,055
Other inventories	70,298	58,044
	70,298	80,099

6

Debtors

	2016 £	2015 £
Trade debtors	218,199	130,637
Other debtors	5,613	1,153
Total current trade and other debtors	223,812	131,790

Page 9

Pollution Monitors Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

7

Creditors

	Note	2016 £	2015 £
Due within one year
Trade creditors		85,646	79,367
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	30,000	-
Taxation and social security		19,191	27,487
Other creditors		34,718	45,725
		169,555	152,579

8

Dividends

	2016	2015
	£	£
Final dividend of £30,000.00 (2015 - £Nil) per ordinary share	30,000	114,496
Interim dividend of £76,796.00 (2015 - £114,496.00) per ordinary share	76,796	-
	106,796	114,496

9	Related party transactions

Summary of transactions with parent

PollMon Group Holdings Limited
 Loans from the parent company
 

2016	Parent £
At start of period	-
Advanced	30,000
Repaid	-
At end of period	30,000

Page 10

Pollution Monitors Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

2015	Parent £
At start of period	-
Advanced	-
Repaid	-
At end of period	-

Summary of transactions with entities with joint control or significant interest

Pollmon Electrical Services Limited
 During the year the company acuired services from and made sales to a fellow group subsidiary
 

Income and receivables from related parties

2016	Entities with joint control or significant influence £
Receipt of services	5,801

2015	Entities with joint control or significant influence £
Receipt of services	960

Expenditure with and payables to related parties

2016	Entities with joint control or significant influence £
Rendering of services	115,439
Amounts payable to related party	23,460

2015	Entities with joint control or significant influence £
Rendering of services	112,114
Amounts payable to related party	8,720

Loans from related parties

Terms of loans from related parties

Page 11

Pollution Monitors Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

10	Parent and ultimate parent undertaking

The company's immediate parent is Pollmon Group Holdings Limited, incorporated in England and Wales.

 

Page 12