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REGISTERED NUMBER: 11226578 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

EnviroChemie UK Ltd

EnviroChemie UK Ltd (Registered number: 11226578)






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


EnviroChemie UK Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Mr D Wiedenhaus
C O'donovan



REGISTERED OFFICE: Lily Hill House
Lily Hill Road
Bracknell
Berkshire
RG12 2SJ



REGISTERED NUMBER: 11226578 (England and Wales)



SENIOR STATUTORY AUDITOR: Philippa Duckworth BSc FCCA



AUDITORS: WP Audit Limited
Statutory Auditors
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

EnviroChemie UK Ltd (Registered number: 11226578)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £   
FIXED ASSETS
Intangible assets 4 251 1,751
Tangible assets 5 8,113 12,631
8,364 14,382

CURRENT ASSETS
Debtors 6 697,152 1,913,712
Cash at bank 212,310 640,204
909,462 2,553,916
CREDITORS
Amounts falling due within one year 7 (3,649,066 ) (4,085,240 )
NET CURRENT LIABILITIES (2,739,604 ) (1,531,324 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,731,240 ) (1,516,942 )

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings (2,756,240 ) (1,541,942 )
(2,731,240 ) (1,516,942 )

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 29 September 2023 and were signed on its behalf by:





C O'donovan - Director


EnviroChemie UK Ltd (Registered number: 11226578)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

EnviroChemie UK Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
As at the balance sheet date the company had net liabilities of £2,731,240 (2021: £1,516,942) and net current liabilities of £2,739,604 (2021: £1,531,324),. The financial statements have been prepared on the going concern basis which assumes that the group and the company will continue in operational existence for the foreseeable future, being at least twelve months from the date of approval of these financial statements. In concluding that it is appropriate to adopt the going concern basis in preparing the financial statements the directors have had regard to the tracking performance, cash flow forecast for the company for the period following, and a detailed review of the working capital requirements for the same period. These forecasts show that the company should be able to continue to operate within their existing facilities. However, given the limited headroom within the financial forecasts an underperformance to budget would require a further injection of funds from the parent.

These conditions indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern and, therefore that they may be unable to realise assets and discharge liabilities in the normal course of business. The directors are of the opinion that the group will receive sufficient cash inflows to meet its liabilities as they fall due for the foreseeable future, and will continue to receive the support of the parent company. Accordingly, these financial statements have been prepared on the going concern basis and do not include the adjustments that would result if the company were unable to continue as a going concern.

Significant judgements and estimates
In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company makes significant estimates in respect of the stage of completion of contracts as at the balance sheet date.

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

Turnover includes revenue from the sale of goods and from the rendering of services. Turnover is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five 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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost and 25% on cost

EnviroChemie UK Ltd (Registered number: 11226578)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 9 ) .

EnviroChemie UK Ltd (Registered number: 11226578)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 2,500 5,001 7,501
AMORTISATION
At 1 January 2022 1,917 3,833 5,750
Charge for year 500 1,000 1,500
At 31 December 2022 2,417 4,833 7,250
NET BOOK VALUE
At 31 December 2022 83 168 251
At 31 December 2021 583 1,168 1,751

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022 24,272
Additions 2,441
At 31 December 2022 26,713
DEPRECIATION
At 1 January 2022 11,641
Charge for year 6,959
At 31 December 2022 18,600
NET BOOK VALUE
At 31 December 2022 8,113
At 31 December 2021 12,631

6. DEBTORS
31.12.22 31.12.21
£    £   
Amounts falling due within one year:
Trade debtors 616,275 1,750,349
Other debtors 50,277 163,363
666,552 1,913,712

Amounts falling due after more than one year:
Other debtors 30,600 -

Aggregate amounts 697,152 1,913,712

EnviroChemie UK Ltd (Registered number: 11226578)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 1,755,094 1,762,432
Amounts owed to group undertakings 1,620,932 1,620,932
Taxation and social security 106,622 55,434
Other creditors 166,418 646,442
3,649,066 4,085,240

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.22 31.12.21
£    £   
Within one year 110,127 94,694
Between one and five years 75,288 185,415
185,415 280,109

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

The Report of the Auditors was unqualified.


In forming our opinion, we have considered the adequacy of the disclosures made within the financial statements concerning the recoverability of debtors. In view of the significance of these uncertainties, we consider that this should be drawn to your attention, but our opinion is not qualified in this respect.

Philippa Duckworth BSc FCCA (Senior Statutory Auditor)
for and on behalf of WP Audit Limited

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Envirochemie GmbH.