ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

ENVIRO-SERVE LIMITED - Company Information

Caseware UK (AP4) 2014.0.91 2014.0.91 2016-12-312016-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2016-01-01 04983590 2016-01-01 2016-12-31 04983590 2016-12-31 04983590 2015-12-31 04983590 c:Director1 2016-01-01 2016-12-31 04983590 d:PlantMachinery 2016-01-01 2016-12-31 04983590 d:PlantMachinery 2016-12-31 04983590 d:PlantMachinery 2015-12-31 04983590 d:PlantMachinery d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04983590 d:MotorVehicles 2016-01-01 2016-12-31 04983590 d:MotorVehicles 2016-12-31 04983590 d:MotorVehicles 2015-12-31 04983590 d:MotorVehicles d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04983590 d:OfficeEquipment 2016-01-01 2016-12-31 04983590 d:OfficeEquipment 2016-12-31 04983590 d:OfficeEquipment 2015-12-31 04983590 d:OfficeEquipment d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04983590 d:ComputerEquipment 2016-01-01 2016-12-31 04983590 d:OtherPropertyPlantEquipment 2016-01-01 2016-12-31 04983590 d:OtherPropertyPlantEquipment 2016-12-31 04983590 d:OtherPropertyPlantEquipment 2015-12-31 04983590 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04983590 d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04983590 d:CurrentFinancialInstruments 2016-12-31 04983590 d:CurrentFinancialInstruments 2015-12-31 04983590 d:Non-currentFinancialInstruments 2016-12-31 04983590 d:Non-currentFinancialInstruments 2015-12-31 04983590 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 04983590 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 04983590 d:Non-currentFinancialInstruments d:AfterOneYear 2016-12-31 04983590 d:Non-currentFinancialInstruments d:AfterOneYear 2015-12-31 04983590 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2016-12-31 04983590 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2015-12-31 04983590 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2015-12-31 04983590 d:ShareCapital 2016-12-31 04983590 d:ShareCapital 2015-12-31 04983590 d:RetainedEarningsAccumulatedLosses 2016-12-31 04983590 d:RetainedEarningsAccumulatedLosses 2015-12-31 04983590 d:AcceleratedTaxDepreciationDeferredTax 2016-12-31 04983590 d:TaxLossesCarry-forwardsDeferredTax 2016-12-31 04983590 c:FRS102 2016-01-01 2016-12-31 04983590 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 04983590 c:FullAccounts 2016-01-01 2016-12-31 04983590 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP

Registered number: 04983590

ENVIRO-SERVE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

ENVIRO-SERVE LIMITED

REGISTERED NUMBER: 04983590

BALANCE SHEET

AS AT 31 DECEMBER 2016

		2016		2015
Note		£		£

FIXED ASSETS
Tangible assets	4		2,451,687		2,609,048
			2,451,687		2,609,048
CURRENT ASSETS
Debtors: amounts falling due within one year	5	174,136		157,283
Cash at bank and in hand		354,720		129,261
		528,856		286,544
Creditors: amounts falling due within one year	6	(127,199)		(137,783)
NET CURRENT ASSETS			401,657		148,761
TOTAL ASSETS LESS CURRENT LIABILITIES			2,853,344		2,757,809
Creditors: amounts falling due after more than one year	7		(312,609)		(388,931)
PROVISIONS FOR LIABILITIES
Deferred tax	9	(194,857)		(160,536)
			(194,857)		(160,536)
NET ASSETS			2,345,878		2,208,342

CAPITAL AND RESERVES
Called up share capital	1	1
Profit and loss account	2,345,877	2,208,341
	2,345,878	2,208,342

Page 1

ENVIRO-SERVE LIMITED

REGISTERED NUMBER: 04983590

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2016

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2017.

P Lines

Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

ENVIRO-SERVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

1.	GENERAL INFORMATION

Enviro-Serve Limited is a private company, limited by shares, domiciled in England and Wales, registration number 04983590. The registered office is 17-19 Mill Road, Hemsby, Great Yarmouth, Norfolk, NR29 4ND.

2.ACCOUNTING POLICIES

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery	-	15% per annum on the reducing balance basis
Motor vehicles	-	25% per annum on the reducing balance basis
Office equipment	-	33% per annum on the straight line basis
Licences	-	reviewed for impairment on an annual basis
Vessels	-	4%-6.67% per annum on the straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

Page 3

ENVIRO-SERVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.ACCOUNTING POLICIES (CONTINUED)

2.4

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

ENVIRO-SERVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.ACCOUNTING POLICIES (CONTINUED)

2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Profit and Loss Account within 'other operating income'.

2.10

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

2.12

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and Loss Account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.13

Borrowing costs

All borrowing costs are recognised in the Profit and Loss Account in the year in which they are incurred.

Page 5

ENVIRO-SERVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.ACCOUNTING POLICIES (CONTINUED)

2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

·The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

·Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 0 (2015 - 0).

Page 6

ENVIRO-SERVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

4.	TANGIBLE FIXED ASSETS

	Plant and machinery	Motor vehicles	Office equipment	Vessels and licences	Total
	£	£	£	£	£
COST OR VALUATION
At 1 January 2016	51,553	9,690	4,755	3,259,695	3,325,693
Disposals	-	(3,000)	-	-	(3,000)
At 31 December 2016	51,553	6,690	4,755	3,259,695	3,322,693
DEPRECIATION
At 1 January 2016	37,271	5,886	4,109	669,379	716,645
Charge for the year on owned assets	2,142	529	522	152,481	155,674
Disposals	-	(1,313)	-	-	(1,313)
At 31 December 2016	39,413	5,102	4,631	821,860	871,006
NET BOOK VALUE
At 31 December 2016	12,140	1,588	124	2,437,835	2,451,687
At 31 December 2015	14,282	3,804	646	2,590,316	2,609,048

DEBTORS

					2016	2015
					£	£


Trade debtors	140,525	83,743
Other debtors	21,611	41,765
Prepayments and accrued income	12,000	31,775
	174,136	157,283

Page 7

ENVIRO-SERVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

6.	CREDITORS: Amounts falling due within one year
		2016	2015
		£	£

Bank loans	76,322	85,441
Trade creditors	17,734	29,983
Corporation tax	62	-
Other taxation and social security	28,557	13,506
Other creditors	774	5,103
Accruals and deferred income	3,750	3,750
	127,199	137,783

7.	CREDITORS: Amounts falling due after more than one year
		2016	2015
		£	£

	Bank loans	312,609	388,931

AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans	76,322	85,441

AMOUNTS FALLING DUE 2-5 YEARS
Bank loans	312,609	361,379
AMOUNTS FALLING DUE AFTER MORE THAN 5 YEARS
Bank loans	-	27,552
	388,931	474,372

Page 8

ENVIRO-SERVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

9.	DEFERRED TAXATION

		2016
		£

	At beginning of year	(160,536)
	Charged to profit or loss	(34,321)
	AT END OF YEAR	(194,857)

	The provision for deferred taxation is made up as follows:
					2016
					£

	Accelerated capital allowances	(373,794)
	Tax losses carried forward	178,937
		(194,857)

10.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,000 (2015 - £nil). Contributions totalling £nil (2015 - £nil) were payable to the fund at the balance sheet date.

11.	TRANSACTIONS WITH DIRECTORS

During the year personal expenses were paid on behalf of the director of £20,799, interest of £312 was charged on the overdrawn loan account, leaving a balance owed at 31 December 2016 of £21,111.

12.	FIRST TIME ADOPTION OF FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 9