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Unaudited Financial Statements for the Year Ended 31 March 2023

for

Innovative Environmental Services Ltd.

Innovative Environmental Services Ltd. (Registered number: SC243122)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Innovative Environmental Services Ltd.

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A D Nelson
P Lynch
Mrs C A Nelson





REGISTERED OFFICE: Lily Bank
9 Cottage Crescent
Camelon
Falkirk
FK1 4AX





REGISTERED NUMBER: SC243122 (Scotland)





ACCOUNTANTS: Ian Macfarlane Limited
Chartered Accountants
2 Melville Street
Falkirk
FK1 1HZ

Innovative Environmental Services Ltd. (Registered number: SC243122)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 75,131 56,775

CURRENT ASSETS
Debtors 5 909,318 363,840
Cash at bank and in hand 963,271 654,200
1,872,589 1,018,040
CREDITORS
Amounts falling due within one year 6 1,186,542 525,725
NET CURRENT ASSETS 686,047 492,315
TOTAL ASSETS LESS CURRENT
LIABILITIES

761,178

549,090

CREDITORS
Amounts falling due after more than one
year

7

(73,677

)

(98,088

)

PROVISIONS FOR LIABILITIES (14,254 ) (10,760 )
NET ASSETS 673,247 440,242

CAPITAL AND RESERVES
Called up share capital 8 120 100
Retained earnings 673,127 440,142
SHAREHOLDERS' FUNDS 673,247 440,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Innovative Environmental Services Ltd. (Registered number: SC243122)

Balance Sheet - continued
31 March 2023


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 8 November 2023 and were signed on its behalf by:




A D Nelson - Director



P Lynch - Director


Innovative Environmental Services Ltd. (Registered number: SC243122)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Innovative Environmental Services Ltd. 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.

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.

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 - 33% on cost and 25% 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 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.

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 6 (2022 - 5 ) .

Innovative Environmental Services Ltd. (Registered number: SC243122)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 251,741
Additions 45,592
Disposals (17,883 )
At 31 March 2023 279,450
DEPRECIATION
At 1 April 2022 194,966
Charge for year 22,961
Eliminated on disposal (13,608 )
At 31 March 2023 204,319
NET BOOK VALUE
At 31 March 2023 75,131
At 31 March 2022 56,775

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 893,229 353,912
Other debtors 16,089 9,928
909,318 363,840

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 30,000 30,000
Hire purchase contracts 13,604 6,175
Trade creditors 170,273 116,601
Taxation and social security 296,451 124,370
Other creditors 676,214 248,579
1,186,542 525,725

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 8,677 3,088
Other creditors 65,000 95,000
73,677 98,088

Innovative Environmental Services Ltd. (Registered number: SC243122)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary shares £1 100 100
18 "B" ordinary £1 18 -
2 "C" ordinary £1 2 -
120 100

Shares were issued during the year as follows:

Cash at par
18 "B" ordinary shares of £1 for £ 18
2 "C" ordinary shares of £1 for £ 2

As a bonus out of reserves
18 "B" ordinary shares of £1
2 "C" ordinary shares of £1