No Pollution Industrial Systems Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC335048 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

NO POLLUTION INDUSTRIAL SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Rivolta

G Rivolta

SECRETARY:

G Rivolta

REGISTERED OFFICE:

Bank House

20a Strathearn Road

Edinburgh

EH9 2AB

REGISTERED NUMBER:

SC335048 (Scotland)

ACCOUNTANTS:

Mc Creath & Co, CA

Bank House

20A Strathearn Road

Edinburgh

EH9 2AB

FIXED ASSETS

Tangible assets

4

4,896

4,520

CURRENT ASSETS

Debtors

5

318,457

318,691

Cash at bank

394,738

376,886

713,195

695,577

CREDITORS

Amounts falling due within one year

6

611,116

561,506

NET CURRENT ASSETS

102,079

134,071

TOTAL ASSETS LESS CURRENT
LIABILITIES

106,975

138,591

CAPITAL AND RESERVES

Called up share capital

5,000

Retained earnings

101,975

133,591

SHAREHOLDERS' FUNDS

106,975

138,591

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 27 September 2018 and were signed on its behalf
by:

M Rivolta - Director

G Rivolta - Director

1.	STATUTORY INFORMATION

No Pollution Industrial Systems Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover is derived from ordinary activities and represents the invoiced value of goods sold and the value of

services to which the company has obtained the right to consideration, and is stated after trade discounts, other

sales taxes and net of VAT.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Amounts recoverable on contracts

Amounts recoverable on contracts are stated at the value of turnover attributed to the stage of completion on each

individual contract less payments on account received and receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

16,790

Additions

2,563

At 31 December 2017

19,353

DEPRECIATION

At 1 January 2017

12,270

Charge for year

2,187

At 31 December 2017

14,457

NET BOOK VALUE

At 31 December 2017

4,896

At 31 December 2016

4,520

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

1,210

84,469

Other debtors

317,247

234,222

318,457

318,691

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

185,901

13,236

Taxation and social security

18,008

64,068

Other creditors

407,207

484,202

611,116

561,506

7.	RELATED PARTY DISCLOSURES

The company paid Mr E Rivolta, who is the father of the directors, £271,001 for services rendered to the

company (2016: £138,007).

The following Directors Loans Subsisted during the year:

Marco Rivolta

2017

2016

£

Opening balance due to / (from) the directors

(151,431

)

563

Closing balance due to / (from) the directors

(121,464

)

(151,431

)

Maximum balance due to the directors during year

Nil

15,063

Maximum balance due to the company during year

(101,532

)

(249,869

)

Giorgio Rivolta

2017

2016

£

Opening balance due to / (from) the directors

Nil

Closing balance due to / (from) the directors

9,598

Nil

Maximum balance due to the directors during year

50,000

Nil

Maximum balance due to the company during year

(3,410

)

Nil

The Director loans have no fixed terms of repayment.

Where the balance owed by the Directors to the Company exceeds £10,000 the company charges interest at the

official rate of interest approved by HM Revenue and Customs.

8.	ULTIMATE CONTROLLING PARTY

The directors, M Rivolta and G Rivolta jointly control the company by virtue of their ownership of the share

capital of the company.

No Pollution Industrial Systems Limited - Accounts to registrar (filleted) - small 18.2

No Pollution Industrial Systems Limited - Accounts to registrar (filleted) - small 18.2