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REGISTERED NUMBER: 05159614 (England and Wales)

















Report of the Directors and

Financial Statements for the Year Ended 31 December 2022

for

Ecus (Holdings) Limited

Ecus (Holdings) Limited (Registered number: 05159614)






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


Ecus (Holdings) Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: P J Skipworth (Non Executive)
N Scarlett (Non Executive)





REGISTERED OFFICE: Brook Holt No. 3
Blackburn Road
Sheffield
South Yorkshire
S61 2DW





REGISTERED NUMBER: 05159614 (England and Wales)





AUDITORS: Sutton McGrath Hartley
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ

Ecus (Holdings) Limited (Registered number: 05159614)

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 a holding company for managing businesses trading in the environment sector.

DIRECTORS
P J Skipworth (Non Executive) has held office during the whole of the period from 1 January 2022 to the date of this report.

Other changes in directors holding office are as follows:

S J Blannin - resigned 31 December 2022
V J Ewan (Non Executive) - resigned 17 March 2022
A P Gunning - resigned 17 March 2022
N Scarlett (Non Executive) - appointed 17 March 2022

POST REPORTING DATE EVENTS
Cura Terrae Ltd: On 17th March 2022 Ecus (Holdings) Ltd, was bought by newly incorporated Cura Terrae Ltd, a Palatine Private Equity Impact Fund backed investment.

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.

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.

Palatine's Private Equity'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.

On the 20th December 2022, the subsidiary Ecus Ltd completed a significant step on its growth journey after acquiring environmental services company Naturally Wild. The Naturally Wild team brings further quality and expertise and ensures that our resources continue to grow, allowing us to deliver our industry-leading services to our expanding client base.

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.


Ecus (Holdings) Limited (Registered number: 05159614)

Report of the Directors
for the Year Ended 31 December 2022

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
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:





P J Skipworth (Non Executive) - Director


23 November 2023

Ecus (Holdings) Limited (Registered number: 05159614)

Balance Sheet
31 December 2022

2022 2021
Notes £ £ £ £
FIXED ASSETS
Investments 4 2 2

CURRENT ASSETS
Debtors 5 722,506 905,285

CREDITORS
Amounts falling due within one year 6 292,405 430,845
NET CURRENT ASSETS 430,101 474,440
TOTAL ASSETS LESS CURRENT LIABILITIES 430,103 474,442

CREDITORS
Amounts falling due after more than one
year

7

-

41,521
NET ASSETS 430,103 432,921

CAPITAL AND RESERVES
Called up share capital 8 90,871 80,000
Capital redemption reserve 2,700 2,700
Retained earnings 336,532 350,221
SHAREHOLDERS' FUNDS 430,103 432,921

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 23 November 2023 and were signed on its behalf by:





P J Skipworth (Non Executive) - Director


Ecus (Holdings) Limited (Registered number: 05159614)

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

1. STATUTORY INFORMATION

Ecus (Holdings) 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.

The company's bank borrowings and other liabilities are met from group facilities which factor in the profitability and funds of its subsidiary company. The company's directors are confident that the subsidiary company is continuing to trade profitably during 2020. As a consequence the company has been able to continue to meet its borrowing commitments as and when they fall due together with its day to day working capital requirements.

The directors feel that it is appropriate to prepare the financial statements on a going concern basis under the historical cost convention. Inherently, however, there can be no certainty in relation to the continuation of these facilities. The financial statements do not include any adjustment that would result from a withdrawal of the facilities referred to above. The presentation currency is £ sterling.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 4 ) .

Ecus (Holdings) Limited (Registered number: 05159614)

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2022
and 31 December 2022 2
NET BOOK VALUE
At 31 December 2022 2
At 31 December 2021 2

5. DEBTORS
2022 2021
£ £
Amounts falling due within one year:
Amounts owed by group undertakings 722,506 368,850
Other debtors - 20,053
722,506 388,903

Amounts falling due after more than one year:
Amounts owed by group undertakings - 516,382

Aggregate amounts 722,506 905,285

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Bank loans and overdrafts - 423,092
Trade creditors - 450
Amounts owed to group undertakings 284,760 -
Taxation and social security 6,063 5,722
Other creditors 1,582 1,581
292,405 430,845

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£ £
Bank loans - 41,521

Ecus (Holdings) Limited (Registered number: 05159614)

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

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2022 2021
value: £ £
90,871 Ordinary £1 90,871 80,000

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

The Report of the Auditors was unqualified.

Jonathon Dickens ACA (Senior Statutory Auditor)
for and on behalf of Sutton McGrath Hartley

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

2022 2021
£ £
V J Ewan (Non Executive)
Balance outstanding at start of year 14,158 5,216
Amounts advanced 1,915 8,942
Amounts repaid (16,073 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 14,158

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 Cura Terrae 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.