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REGISTERED NUMBER: 11377627 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ERG APC PROPERTY LIMITED

ERG APC PROPERTY LIMITED (REGISTERED NUMBER: 11377627)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


ERG APC PROPERTY LIMITED (REGISTERED NUMBER: 11377627)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,304,199 4,395,342

CURRENT ASSETS
Debtors 5 72,216 45,532
Cash at bank 26,322 8,048
98,538 53,580
CREDITORS
Amounts falling due within one year 6 2,597,392 2,355,269
NET CURRENT LIABILITIES (2,498,854 ) (2,301,689 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,805,345

2,093,653

CREDITORS
Amounts falling due after more than one
year

7

(2,126,971

)

(2,148,507

)

PROVISIONS FOR LIABILITIES - (7,959 )
NET LIABILITIES (321,626 ) (62,813 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (321,627 ) (62,814 )
SHAREHOLDERS' FUNDS (321,626 ) (62,813 )

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 28 November 2023 and were signed on its behalf by:





P I Batt - Director


ERG APC PROPERTY LIMITED (REGISTERED NUMBER: 11377627)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

ERG APC Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11377627

Registered office: Bridge House Environmental Centre
Bridge House Lane
Five Oaks Road
Slinfold
West Sussex
RH13 0QW

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The company continues to rely on the support of its parent company and fellow subsidiaries. In July 2021, the company secured its bank borrowing for five years. The directors therefore continue to adopt the going concern basis in preparing the company's financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Plant and machinery - 33% on cost
Office equipment - 33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost less accumulated depreciation.

The company has adopted a policy of capitalising borrowing costs that are directly attributable to the acquisition and construction of the freehold property. Directly attributable borrowing costs are those costs that would have been avoided if the expenditure on the qualifying asset had not been made. Capitalisation of the borrowing costs cease when substantially all the activities necessary to prepare the qualifying asset for its intended use are complete.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

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.


ERG APC PROPERTY LIMITED (REGISTERED NUMBER: 11377627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold Plant and Office
property machinery equipment Totals
£    £    £    £   
COST
At 1 March 2022 4,357,447 24,623 13,272 4,395,342
Additions 8,812 - - 8,812
At 28 February 2023 4,366,259 24,623 13,272 4,404,154
DEPRECIATION
Charge for year 87,325 8,207 4,423 99,955
At 28 February 2023 87,325 8,207 4,423 99,955
NET BOOK VALUE
At 28 February 2023 4,278,934 16,416 8,849 4,304,199
At 28 February 2022 4,357,447 24,623 13,272 4,395,342

The freehold property cost includes capitalised borrowing costs of £166,509 (2022: £166,509).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 56,457 30,663
Other debtors 15,759 14,869
72,216 45,532

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,365 116,605
Trade creditors 4,374 61,897
Amounts owed to group undertakings 2,574,653 2,176,767
2,597,392 2,355,269

ERG APC PROPERTY LIMITED (REGISTERED NUMBER: 11377627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 2,126,971 2,148,507

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 2,145,336 2,265,112

The bank loans are secured by fixed and floating charges over the present and future assets of the company.

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

The Report of the Auditors was unqualified.

Colin Young BA FCA (Senior Statutory Auditor)
for and on behalf of Galloways Accounting

10. 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.

11. PARENT COMPANY

The parent of the smallest group in which the company is a member and for which consolidated accounts are produced is ERG Process Technologies Limited. Its registered office is Bridge House Environmental Centre, Bridge House Lane, Five Oaks Road, Slinfold, West Sussex RH13 0QW and this is the address from which group accounts can be obtained.