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REGISTERED NUMBER: 03391305 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

ASHFORD ENVIRONMENTAL SERVICES LIMITED

ASHFORD ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 03391305)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASHFORD ENVIRONMENTAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr R J Carlin
Mr A E Kennedy





SECRETARY: Mr R J Carlin





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 03391305 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
London
NW8 0DL

ASHFORD ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 03391305)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 274,984 321,742
Investments 5 6,393 1,616
281,377 323,358

CURRENT ASSETS
Stocks 39,031 39,382
Debtors 6 2,322,601 2,237,768
Cash at bank 514,548 10,064
2,876,180 2,287,214
CREDITORS
Amounts falling due within one year 7 (1,972,456 ) (1,354,006 )
NET CURRENT ASSETS 903,724 933,208
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,185,101

1,256,566

CREDITORS
Amounts falling due after more than one year 8 (115,789 ) (196,979 )

PROVISIONS FOR LIABILITIES 11 (43,412 ) (38,973 )
NET ASSETS 1,025,900 1,020,614

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 1,025,898 1,020,612
SHAREHOLDERS' FUNDS 1,025,900 1,020,614

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

ASHFORD ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 03391305)

BALANCE SHEET - continued
30 JUNE 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 15 November 2023 and were signed on its behalf by:




Mr R J Carlin - Director



Mr A E Kennedy - Director


ASHFORD ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 03391305)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Ashford Environmental Services 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.

Preparation of consolidated financial statements
The financial statements contain information about Ashford Environmental Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated 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.

The revenue and costs of the company's long term contracts are recognised by reference to the degree of completion of each contract and any foreseeable losses have been recognised immediately.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Building improvements - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Government grants
Grants are recognised over the period in which the associated costs are incurred.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


ASHFORD ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 03391305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 104 (2022 - 92 ) .

ASHFORD ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 03391305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Short Building Plant and
leasehold improvements machinery
£    £    £   
COST
At 1 July 2022 66,077 243,545 603,223
Additions - - 3,696
At 30 June 2023 66,077 243,545 606,919
DEPRECIATION
At 1 July 2022 25,830 78,591 530,608
Charge for year 6,608 24,355 19,078
At 30 June 2023 32,438 102,946 549,686
NET BOOK VALUE
At 30 June 2023 33,639 140,599 57,233
At 30 June 2022 40,247 164,954 72,615

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 78,167 9,430 215,873 1,216,315
Additions 2,795 - 11,296 17,787
At 30 June 2023 80,962 9,430 227,169 1,234,102
DEPRECIATION
At 1 July 2022 73,353 9,107 177,084 894,573
Charge for year 1,902 81 12,521 64,545
At 30 June 2023 75,255 9,188 189,605 959,118
NET BOOK VALUE
At 30 June 2023 5,707 242 37,564 274,984
At 30 June 2022 4,814 323 38,789 321,742

ASHFORD ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 03391305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 July 2022 1,616
Additions 4,777
At 30 June 2023 6,393
NET BOOK VALUE
At 30 June 2023 6,393
At 30 June 2022 1,616

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Ashford Environmental Services Oy
Registered office: Finland
Nature of business: Commissioning engineers
%
Class of shares: holding
Ordinary 100.00
30.6.23 30.6.22
£    £   
Aggregate capital and reserves 63,244 40,866
Profit for the year 22,378 6,389

Ashford Environmental LLC ApS
Registered office: Denmark
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 2,199,828 2,127,590
Other debtors 122,773 110,178
2,322,601 2,237,768

ASHFORD ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 03391305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 72,947 67,121
Trade creditors 663,371 531,326
Amounts owed to group undertakings 19,026 7,908
Taxation and social security 430,760 332,184
Other creditors 786,352 415,467
1,972,456 1,354,006

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 111,226 186,298
Other creditors 4,563 10,681
115,789 196,979

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.6.23 30.6.22
£    £   
Within one year 280,362 196,472
Between one and five years 717,413 625,355
In more than five years 31,250 99,695
1,029,025 921,522

10. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 184,173 253,419

Included within bank loans is £140,000 (2022: £180,000) secured under the Coronavirus Business Interruption Loan Scheme and the balance is secured by a debenture comprised of a fixed and floating charge over all assets of the company.

11. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 43,412 38,973

ASHFORD ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 03391305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2022 38,973
Charge to Income Statement during year 4,439
Balance at 30 June 2023 43,412

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
2 Ordinary £1 2 2

13. PENSION COMMITMENTS

The company makes payments to a defined contribution scheme on behalf of employees and directors. Amounts charged to the profit and loss account for the year were £283,607 (2022: £174,471). Contributions outstanding at the balance sheet date totalled £77,204 (2022: £24,267) of which employer contributions represented £61,178 (2022: £14,696).

14. RELATED PARTY DISCLOSURES

Ashford Environmental Services Oy

A wholly owned subsidiary.


During the year, the company provided services to Ashford Environmental Services Oy totalling £508,790 (2022: £163,628) and received dividends of £5,118 (2022: £38,167).

30.6.23 30.6.22
£    £   
Amount due to related party at the balance sheet date 19,026 7,908

In addition to the above, £51,244 (2022: £Nil) is due from Ashford Environmental Services Oy included in trade debtors.

ASHFORD ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 03391305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


14. RELATED PARTY DISCLOSURES - continued

South East Laboratories Limited

A company in which the directors have a significant shareholding.


During the year, South East Laboratories Limited charged the company for services totalling £712,829 (2022: £408,292). The company charged South East Laboratories Limited management fees totalling £12,000 (2022: £12,000). These transactions were undertaken on a commercial arms length basis.

30.6.23 30.6.22
£    £   
Amount due to related party at the balance sheet date 150,371 138,742

The above balance is included within trade creditors.

Mr R J Carlin and Mr A E Kennedy

Directors of the company.


The directors have provided personal guarantees in support of the company's bank indebtedness.