REGISTERED NUMBER: |
Report of the Directors and |
Financial Statements for the Year Ended 31 December 2022 |
for |
Northern Archaeological Associates |
Limited |
REGISTERED NUMBER: |
Report of the Directors and |
Financial Statements for the Year Ended 31 December 2022 |
for |
Northern Archaeological Associates |
Limited |
Northern Archaeological Associates |
Limited (Registered number: 03736728) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
Northern Archaeological Associates |
Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
5 Westbrook Court |
Sharrowvale Road |
Sheffield |
South Yorkshire |
S11 8YZ |
Northern Archaeological Associates |
Limited (Registered number: 03736728) |
Report of the Directors |
for the Year Ended 31 December 2022 |
The directors present their report with the financial statements of the company for the year ended 31 December 2022. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of archaeological services. |
REVIEW OF BUSINESS |
On 17th March 2022, Ecus (Holdings) Ltd, Northern Archaeological Associates Ltd's (NAA) ultimate parent company, was bought by newly incorporated Cura Terrae Ltd, a Palatine Private Equity Impact Fund backed investment. Palatine's Impact Fund actively targets investment in companies that are creating social or environmental change, in order to prove that returns and purpose can be achieved alongside each other. |
Cura Terrae's mission is to provide services and solutions to help take care of The Earth, helping clients work towards a brighter, more sustainable future. It will fulfil this mission by acquiring, supporting and growing a group of best-in-class sustainability-focussed companies. The strong support provided by Cura Terrae will empower group companies to focus on their services and clients, and to work together to bring more to clients from sister companies within group. |
Envirocare Technical Consultancy Ltd and Environmental Monitoring Solutions Ltd were also bought by Cura Terrae Ltd on the same day in forming the initial group. Further acquisitions were made by the group during the remainder of 2022. |
NAA was rebranded as Ecus Archaeology in order to be better identified as a part of Ecus, complementing and working evermore closely with heritage services within Ecus, and helping to spread archaeology services geographically. |
The business grew in 2022 and returned to profit. However, headwinds affected our growth in 2022, with infrastructure projects being cancelled or put on hold, with the UK labour market remaining tight, and with the market hesitation caused by the mini-budget in September. |
DIRECTORS |
The directors who have held office during the period from 1 January 2022 to the date of this report are as follows: |
POST REPORTING DATE EVENTS |
Cura Terrae Ltd: On 17th March 2022 Ecus (Holdings) Ltd, which wholly owns Ecus Ltd and hence NAA, was bought by newly incorporated Cura Terrae Ltd, a Palatine Private Equity backed investment to build and grow a group of environmental companies. Environmental Monitoring Solutions Ltd and Envirocare Technical Consultancy Ltd were also bought by Cura Terrae Ltd on the same day in forming the initial group. Cura Terrae Ltd has been set up to provide strong central services to its trading companies; to empower them to focus on their services and clients, and to bring more to clients from sister companies within the group. |
Cura Terrae Ltd is invested in by Palatine's Impact Fund. This fund actively targets companies that are creating social or environmental change, in order to prove that returns and purpose can be achieved alongside each other. |
Northern Archaeological Associates |
Limited (Registered number: 03736728) |
Report of the Directors |
for the Year Ended 31 December 2022 |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Sutton McGrath Hartley, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
Northern Archaeological Associates |
Limited (Registered number: 03736728) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
(Unaudited) |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Northern Archaeological Associates |
Limited (Registered number: 03736728) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Northern Archaeological Associates Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
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. |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
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. |
Northern Archaeological Associates |
Limited (Registered number: 03736728) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
AMORTISATION |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2022 |
Additions |
Disposals | ( |
) |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Northern Archaeological Associates |
Limited (Registered number: 03736728) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
6. | DEBTORS |
2022 | 2021 |
(Unaudited) |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Amounts recoverable on contract |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
(Unaudited) |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 | 2021 |
(Unaudited) |
£ | £ |
Within one year |
Between one and five years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 800 | 800 |
Ordinary A | £1 | 100 | 100 |
Ordinary B | £1 | 100 | 100 |
1,000 | 1,000 |
Northern Archaeological Associates |
Limited (Registered number: 03736728) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
12. | ULTIMATE CONTROLLING PARTY |
The immediate parent party is Ecus Limited. |
The ultimate parent party is Cura Terrae Topco Limited, a company incorporated in England and Wales. The consolidated financial statements of Cura Terrae Topco Limited are available from the registered address, Brook Holt, Blackburn Road, Sheffield, South Yorkshire, United Kingdom, S61 2DW. |
The directors believe that there is no ultimate controlling party. |