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REGISTERED NUMBER: 05831900 (England and Wales)










Financial Statements

For The Year Ended 31 March 2023

for

Ecospan Environmental Limited

Ecospan Environmental Limited (Registered number: 05831900)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ecospan Environmental Limited

Company Information
For The Year Ended 31 March 2023







DIRECTORS: R A Griffin
G J Robinson





REGISTERED OFFICE: Unit 8 Strashleigh View
Lee Mill Industrial Estate
Ivybridge
Devon
PL21 9GS





REGISTERED NUMBER: 05831900 (England and Wales)





AUDITORS: Kingscott Dix Limited
Chartered Accountants
and Statutory Auditor
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Ecospan Environmental Limited (Registered number: 05831900)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 84,241 53,798

CURRENT ASSETS
Debtors 5 374,160 221,899
Cash at bank 84,606 319,656
458,766 541,555
CREDITORS
Amounts falling due within one year 6 122,341 323,766
NET CURRENT ASSETS 336,425 217,789
TOTAL ASSETS LESS CURRENT
LIABILITIES

420,666

271,587

PROVISIONS FOR LIABILITIES 15,500 9,400
NET ASSETS 405,166 262,187

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 405,164 262,185
SHAREHOLDERS' FUNDS 405,166 262,187

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2023 and were signed on its behalf by:





R A Griffin - Director


Ecospan Environmental Limited (Registered number: 05831900)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Ecospan Environmental 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income from contracts for the provision of hydrographic surveys, laboratory analysis and advice is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, as follows:

Plant and machinery25% on reducing balance
Motor vehicles25% on reducing balance
Computer equipment25% on reducing balance

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Ecospan Environmental Limited (Registered number: 05831900)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 5 ) .

Ecospan Environmental Limited (Registered number: 05831900)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 - 319,739 14,192 101,053 434,984
Additions 8,702 10,921 24,992 2,013 46,628
At 31 March 2023 8,702 330,660 39,184 103,066 481,612
DEPRECIATION
At 1 April 2022 - 282,658 12,496 86,032 381,186
Charge for year 358 10,372 1,667 3,788 16,185
At 31 March 2023 358 293,030 14,163 89,820 397,371
NET BOOK VALUE
At 31 March 2023 8,344 37,630 25,021 13,246 84,241
At 31 March 2022 - 37,081 1,696 15,021 53,798

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 239,811 146,663
Amounts owed by group undertakings 19,623 -
Amounts recoverable on contract 103,205 65,977
Other debtors - 2,157
Tax 7,924 -
Prepayments and accrued income 3,597 7,102
374,160 221,899

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 35,592 128
Amounts owed to group undertakings - 233,524
Tax 10,798 26,232
Social security and other taxes 6,984 4,158
VAT 41,332 43,993
Other creditors 13,243 1,446
Accruals and deferred income 14,392 14,285
122,341 323,766

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2 Ordinary 1 2 2

Ecospan Environmental Limited (Registered number: 05831900)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Morgan (Senior Statutory Auditor)
for and on behalf of Kingscott Dix Limited

9. OTHER FINANCIAL COMMITMENTS

Minimum lease payments falling due for operating leases total £10,695 (2022: £22,362).

10. CONSOLIDATED ACCOUNTS

The company's ultimate parent company is Akerbla Group AS, a company incorporated in Norway, who produces consolidated accounts.

Information regarding the consolidated accounts of Akerbla Group AS can be obtained from its registered office, Blatt Kompetansesenter, Nordfroyveien 413, 7260 Sistranda, Norway.