EcoGen Services Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08700365 (England and Wales)

EcoGen Services Limited

Unaudited Financial Statements

for the Year Ended 30th September 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

T J Kirby

S J Read

A Hamilton

Mrs B Thorp

M W Urwin

SECRETARY:

Mrs B Thorp

REGISTERED OFFICE:

14 High Cross

Truro

Cornwall

TR1 2AJ

REGISTERED NUMBER:

08700365 (England and Wales)

ACCOUNTANTS:

Hodgsons

Chartered Accountants

48 Arwenack Street

Falmouth

Cornwall

TR11 3JH

FIXED ASSETS

Tangible assets

4

19,377

20,189

CURRENT ASSETS

Debtors

5

89,754

113,352

Cash at bank

188,439

125,947

278,193

239,299

CREDITORS

Amounts falling due within one year

6

67,945

71,841

NET CURRENT ASSETS

210,248

167,458

TOTAL ASSETS LESS CURRENT LIABILITIES

229,625

187,647

CREDITORS

Amounts falling due after more than one year

7

(199,235

)

(289,234

)

PROVISIONS FOR LIABILITIES

(392

)

-

NET ASSETS/(LIABILITIES)

29,998

(101,587

)

CAPITAL AND RESERVES

Called up share capital

400

400

Retained earnings

29,598

(101,987

)

SHAREHOLDERS' FUNDS

29,998

(101,587

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 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 22nd June 2018 and were signed on its behalf by:

S J Read - Director

1.	STATUTORY INFORMATION

EcoGen 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.

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30th September 2017 are the first that are prepared in

accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK

GAAP, the date of transition to FRS 102 Section 1A is 1st October 2015.

Tangible fixed assets

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

Fixtures and fittings

-

20% 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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Pension costs and other post-retirement benefits

The company contributes to employees personal pension schemes. Contributions payable are charged to the

profit and loss account in the period to which they relate.

Work in progress

Work in progress is valued at the lower of cost and net realisable value.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st October 2016

34,313

Additions

4,033

At 30th September 2017

38,346

DEPRECIATION

At 1st October 2016

14,124

Charge for year

4,845

At 30th September 2017

18,969

NET BOOK VALUE

At 30th September 2017

19,377

At 30th September 2016

20,189

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

66,415

103,725

Other debtors

23,339

9,627

89,754

113,352

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

2,582

17,036

Taxation and social security

56,096

45,349

Other creditors

9,267

9,456

67,945

71,841

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

199,235

289,234

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

9,000

3,900

Between one and five years

15,750

-

24,750

3,900

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Loan from EcoGen Limited

199,235

289,224

There exists a fixed charge in favour of EcoGen Limited over EcoGen Services Limited future freehold and

leasehold properties, present and future goodwill, uncalled capital, equipment, intellectual property, book debts,

investments, monies held in accounts with financial institutions or other persons and all rights regarding

insurance policies. There exists a floating charge in favour of EcoGen Limited for all undertaking, property,

assets and rights not covered by the fixed charge above even if this charge has crystallised.