Ashfield Effluent Services Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03819680 (England and Wales)

ASHFIELD EFFLUENT SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L Edwards

Mrs J Edwards

Ms P Watkinson

SECRETARY:

Mrs J Edwards

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

REGISTERED NUMBER:

03819680 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

Yorkshire Bank

14 Low Street

Sutton in Ashfield

Nottinghamshire

NG17 1DG

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

412,207

499,672

412,207

499,672

CURRENT ASSETS

Debtors

7

336,439

285,505

Cash at bank

399,469

357,177

735,908

642,682

CREDITORS

Amounts falling due within one year

8

353,050

254,675

NET CURRENT ASSETS

382,858

388,007

TOTAL ASSETS LESS CURRENT LIABILITIES

795,065

887,679

CREDITORS

Amounts falling due after more than one year

9

(27,716

)

(60,305

)

PROVISIONS FOR LIABILITIES

(68,129

)

(91,871

)

NET ASSETS

699,220

735,503

CAPITAL AND RESERVES

Called up share capital

1,200

1,200

Retained earnings

698,020

734,303

SHAREHOLDERS' FUNDS

699,220

735,503

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 9 February 2018 and were signed on its behalf by:

Mr L Edwards - Director

Mrs J Edwards - Director

1.	STATUTORY INFORMATION

Ashfield Effluent 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value excluding Value Added Tax of waste disposal services provided to customers

during the year. In respect of waste disposal services provided, all income is taken to profit and loss at the same

point as the right to receive consideration has been acquired.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of one years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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.

Freehold property

-

5% straight line

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

33% straight line and 25% on reducing balance

Computer equipment

-

33.33% 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

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.

Financial instruments

Financial instruments and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets

of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar

debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented

as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the

profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the

outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability

then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are

debited direct to equity.

Debtors and creditors payable/receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2016

and 31 August 2017

6,600

AMORTISATION

At 1 September 2016

and 31 August 2017

6,600

NET BOOK VALUE

At 31 August 2017

-

At 31 August 2016

-

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 September 2016

35,898

71,430

16,453

Additions

-

(600

)

-

At 31 August 2017

35,898

70,830

16,453

DEPRECIATION

At 1 September 2016

5,906

49,128

10,345

Charge for year

1,795

3,397

917

Eliminated on disposal

-

-

-

At 31 August 2017

7,701

52,525

11,262

NET BOOK VALUE

At 31 August 2017

28,197

18,305

5,191

At 31 August 2016

29,992

22,302

6,108

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2016

1,158,614

2,601

1,284,996

Additions

50,501

-

49,901

Disposals

(10,000

)

-

(10,000

)

At 31 August 2017

1,199,115

2,601

1,324,897

DEPRECIATION

At 1 September 2016

718,035

1,910

785,324

Charge for year

130,464

230

136,803

Eliminated on disposal

(9,437

)

-

(9,437

)

At 31 August 2017

839,062

2,140

912,690

NET BOOK VALUE

At 31 August 2017

360,053

461

412,207

At 31 August 2016

440,579

691

499,672

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

Motor

vehicles

£

COST

At 1 September 2016

and 31 August 2017

137,182

DEPRECIATION

At 1 September 2016

49,252

Charge for year

40,918

At 31 August 2017

90,170

NET BOOK VALUE

At 31 August 2017

47,012

At 31 August 2016

87,930

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

273,311

216,916

Other debtors

15,826

22,014

Tax

-

3,295

Prepayments and accrued income

47,302

43,280

336,439

285,505

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

32,589

32,589

Trade creditors

32,922

45,718

Corporation tax

26,650

-

Social security and other taxes

6,397

7,183

VAT

75,271

66,113

Other creditors

149

103

Wages control account

(265

)

-

Directors' current accounts

165,746

89,906

Accruals and deferred income

13,591

13,063

353,050

254,675

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

27,716

60,305

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

60,305

92,894

The hire purchase agreement is secured on assets of which it relates.

11.	CAPITAL COMMITMENTS

The company had no capital commitments, or contingent liabilities at the balance sheet date.

12.	ULTIMATE CONTROLLING PARTY

There is no controlling party as no shareholder owns over 50% of the ordinary voting shares of the company.