Holmes Environmental Services Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03109624 (England and Wales)

HOLMES ENVIRONMENTAL SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Kibble

P B Mardle

D Taylor

SECRETARY:

Mrs C S Kibble

REGISTERED OFFICE:

4 Stirling Court

Stirling Way

Borehamwood

Hertfordshire

WD6 2BT

REGISTERED NUMBER:

03109624 (England and Wales)

ACCOUNTANTS:

Sinclairs Bartrum Lerner

Chartered Accountants

39A Welbeck Street

London

W1G 8DH

FIXED ASSETS

Tangible assets

4

2,998

4,070

CURRENT ASSETS

Debtors

5

623,107

648,920

Cash at bank and in hand

9,544

36,204

632,651

685,124

CREDITORS

Amounts falling due within one year

6

191,829

175,251

NET CURRENT ASSETS

440,822

509,873

TOTAL ASSETS LESS CURRENT LIABILITIES

443,820

513,943

CREDITORS

Amounts falling due after more than one year

7

1,574,228

1,646,228

NET LIABILITIES

(1,130,408

)

(1,132,285

)

CAPITAL AND RESERVES

Called up share capital

8

38

38

Capital redemption reserve

62

62

Retained earnings

(1,130,508

)

(1,132,385

)

SHAREHOLDERS' FUNDS

(1,130,408

)

(1,132,285

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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.

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 20th December 2017 and were signed on its behalf by:

M Kibble - Director

1.	STATUTORY INFORMATION

Holmes Environmental Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The significant accounting policies applied in the preparation of the financial statements are set out below and

have been consistently applied to all years presented unless otherwise stated. This is the first year in which the

financial statements have been prepared under FRS102 1A. The date of the transition is 1 April 2016. The

transition to FRS 102 1A had no effect to the figures for the current and previous years.

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the year,

exclusive of value added tax and trade discounts.

Revenue is recognised as contract activity progresses to reflect the company's partial performance of its

contractual obligations. The amount of revenue reflects the accrual of the right to consideration as contract

activity progresses by reference to the value of the work performed.

Long term contracts

Turnover in respect of long term contracts has been assessed by the directors on a contract by contract basis in a

manner appropriate to the stage of completion at the year end date. Profit on such contracts has been recognised

prudently, and net of foreseeable losses, so that it fairly reflects the profit attributable to that part of the work

performed at the year end date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Expenditure on premises

-

over the duration of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Going concern

The financial statements have been prepared on the going concern basis. The company is reliant on the support

of its creditors. If this support was withdrawn, the company would be unable to continue in operational

existence. Adjustments would then have to be made to reduce the balance sheet values of assets to their

recoverable amounts and to provide for further liabilities that may arise. The company is unable to quantify the

effect of such adjustments on the financial statements. The directors believe that it is appropriate for the financial

statements to be prepared on a going concern basis.

Company voluntary arrangement

The company entered into a company voluntary arrangement (CVA) on 16/03/2015. Under the CVA agreed

upon with creditors, fixed contributions will be made by the company over a 5 year period. Contributions to be

paid within 12 months of the year end are included within creditors as amounts falling due within one year, all

other creditors under the CVA are included within creditors falling due in more than one year.

Basic financial instruments

Trade and other debtors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs.

Subsequent to initial recognition, they are measured at transaction price less any impairment losses.

Trade and other creditors

Trade and other creditors are recognised initially at transaction price plus attributable transaction costs.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and deposits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.	TANGIBLE FIXED ASSETS

Expenditure

Fixtures

on

Plant and

and

Computer

premises

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1st April 2016

and 31st March 2017

3,108

6,230

16,322

31,740

57,400

DEPRECIATION

At 1st April 2016

3,108

4,259

14,892

31,071

53,330

Charge for year

-

493

358

221

1,072

At 31st March 2017

3,108

4,752

15,250

31,292

54,402

NET BOOK VALUE

At 31st March 2017

-

1,478

1,072

448

2,998

At 31st March 2016

-

1,971

1,430

669

4,070

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

355,869

353,582

Amounts owed by group undertakings

72,057

105,600

Amounts recoverable on

contracts

195,181

189,738

623,107

648,920

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

114,087

86,780

Taxation and social security

60,361

69,974

Other creditors

17,381

18,497

191,829

175,251

Included within creditors due in less than one year is a balance of £72,000 that is payable under the Company

Voluntary Arrangement.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Trade creditors

1,449,185

1,521,185

Taxation and social security

125,043

125,043

1,574,228

1,646,228

Included within creditors due in more than one year is a balance of £1,574,228 that is payable under the

Company Voluntary Arrangement.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

38

Ordinary

£1

38

38

9.

CONTROL

The company was under the control of the director M Kibble, by virtue of his majority shareholding in the

ultimate holding company Holmes Group (UK) Limited.

10.	FIRST YEAR ADOPTION

This is the first year in which the financial statements have been prepare under FRS102 1A. The date of

transition is 01 April 2016. The transition had no effect on the figures for the current and previous years.