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REGISTERED NUMBER: 05268380 (England and Wales)















ECO2 LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022






ECO2 LIMITED (REGISTERED NUMBER: 05268380)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ECO2 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: P Darwell
R J Fuller
M J Hughes
J W Morgan





REGISTERED OFFICE: Vision House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
CF23 8RS





REGISTERED NUMBER: 05268380 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

ECO2 LIMITED (REGISTERED NUMBER: 05268380)

BALANCE SHEET
31 DECEMBER 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 884,523 570,323
Tangible assets 5 275 1,776
884,798 572,099

CURRENT ASSETS
Debtors 6 35,937 573,689
Cash at bank 35,263 79,488
71,200 653,177
CREDITORS
Amounts falling due within one year 7 (118,962 ) (114,619 )
NET CURRENT (LIABILITIES)/ASSETS (47,762 ) 538,558
TOTAL ASSETS LESS CURRENT
LIABILITIES

837,036

1,110,657

CREDITORS
Amounts falling due after more than one
year

8

(13,384,811

)

(13,492,288

)
NET LIABILITIES (12,547,775 ) (12,381,631 )

CAPITAL AND RESERVES
Called up share capital 1,562 1,562
Retained earnings (12,549,337 ) (12,383,193 )
(12,547,775 ) (12,381,631 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:



M J Hughes - Director


ECO2 LIMITED (REGISTERED NUMBER: 05268380)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Eco2 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives only once the project is completed.

Tangible fixed assets
Tangible fixed assets are initially measured at costs and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipmentStraight line over 2-3 years
Computer equipment Straight line over 2-5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Research and development
Expenditure on research and development is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

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.

ECO2 LIMITED (REGISTERED NUMBER: 05268380)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Going concern
The directors and shareholders are confident in the company's ability to continue to trade for the foreseeable future and are prepared to provide the necessary financial support to enable it to do so. The financial statements have been prepared on a going concern basis on the assumption that the directors and shareholders will continue to support the Company to meet its working capital requirements as necessary.

The shareholders have introduced capital in the year in the form of debt and equity and remain committed to the long term future of the Company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2022 570,323
Additions 314,200
At 31 December 2022 884,523
NET BOOK VALUE
At 31 December 2022 884,523
At 31 December 2021 570,323

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
Fittings equipment Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 101,362 223,204 324,566
DEPRECIATION
At 1 January 2022 100,141 222,649 322,790
Charge for year 1,139 362 1,501
At 31 December 2022 101,280 223,011 324,291
NET BOOK VALUE
At 31 December 2022 82 193 275
At 31 December 2021 1,221 555 1,776

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 4,517 12,430
Other debtors 10,284 561,259
VAT 14,372 -
Prepayments and accrued income 6,764 -
35,937 573,689

ECO2 LIMITED (REGISTERED NUMBER: 05268380)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 22,112 4,867
Social security and other taxes 4,900 4,900
VAT - 1,472
Other creditors 21,215 21,213
Accruals and deferred income 70,735 82,167
118,962 114,619

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Included within other creditors due after more than one year is a balance of £10,272,381 (2021: £10,996,966) owed to shareholders and directors. This balance is interest free and unsecured. There are no set repayment terms for the loans

The remaining long term loan balances totalling £3,112,430 (2021: £2,495,322) are interest free and unsecured, with no set repayment terms. .