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REGISTERED NUMBER: SC218063 (Scotland)















DAMM ENVIRONMENTAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






DAMM ENVIRONMENTAL LIMITED (REGISTERED NUMBER: SC218063)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9

Chartered Accountants' Report 10

DAMM ENVIRONMENTAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: James Douglas Turnbull
Gerald John Russell





SECRETARY: James Douglas Turnbull





REGISTERED OFFICE: 5 Seaforth Road North
Hillington Industrial Est
Glasgow
G52 4JQ





REGISTERED NUMBER: SC218063 (Scotland)





ACCOUNTANTS: Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

DAMM ENVIRONMENTAL LIMITED (REGISTERED NUMBER: SC218063)

BALANCE SHEET
30 JUNE 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,343,447 1,169,523

CURRENT ASSETS
Stocks 5 30,378 25,097
Debtors 6 1,815,259 1,610,991
Cash at bank and in hand 24,528 290,080
1,870,165 1,926,168
CREDITORS
Amounts falling due within one year 7 1,208,689 1,337,834
NET CURRENT ASSETS 661,476 588,334
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,004,923

1,757,857

CREDITORS
Amounts falling due after more than one
year

8

287,110

229,132
NET ASSETS 1,717,813 1,528,725

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,717,713 1,528,625
SHAREHOLDERS' FUNDS 1,717,813 1,528,725

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.

DAMM ENVIRONMENTAL LIMITED (REGISTERED NUMBER: SC218063)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





James Douglas Turnbull - Director


DAMM ENVIRONMENTAL LIMITED (REGISTERED NUMBER: SC218063)

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

1. STATUTORY INFORMATION

DAMM Environmental Limited is a private company, limited by shares, registered in Scotland. The company's registered number is SC218063 and registered office address is 5 Seaforth Road, Hillington Park, Glasgow G52 4JQ.

The nature of the company's operations and its principal activities was that of environmental services covering emergency and regular drainage maintenance, CCTV drain surveys, Spill Response and drainage solutions for Rail Infrastructure, Commerce, Industry and Local Authority throughout Scotland. The company also provides training services.

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 financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to be sold, or where stock is sold post year end at a loss.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably.

DAMM ENVIRONMENTAL LIMITED (REGISTERED NUMBER: SC218063)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease rate term, whichever is the shorter.

Improvements to property11% on cost
Plant and machinery10 - 25% on cost
Fixtures and fittings50% on cost
Commercial vehicles20% on cost
Computer equipment50% on cost

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

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

DAMM ENVIRONMENTAL LIMITED (REGISTERED NUMBER: SC218063)

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

2. ACCOUNTING POLICIES - continued

Leases
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Government grants
Government grants received have been recognised in the period to which the related revenue expenditure has been incurred. The company did not benefit from any grants in the current year. (2022 Lanarkshire Enterprise Digital Boost Grant - £20,742).

DAMM ENVIRONMENTAL LIMITED (REGISTERED NUMBER: SC218063)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 93 (2022 - 100 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 204,837 2,231,659 89,453
Additions - 280,397 -
Disposals - (110,534 ) -
At 30 June 2023 204,837 2,401,522 89,453
DEPRECIATION
At 1 July 2022 204,837 1,379,396 89,213
Charge for year - 250,790 240
Eliminated on disposal - (110,534 ) -
At 30 June 2023 204,837 1,519,652 89,453
NET BOOK VALUE
At 30 June 2023 - 881,870 -
At 30 June 2022 - 852,263 240

Commercial Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 694,299 36,922 3,257,170
Additions 268,427 - 548,824
Disposals (157,593 ) - (268,127 )
At 30 June 2023 805,133 36,922 3,537,867
DEPRECIATION
At 1 July 2022 377,279 36,922 2,087,647
Charge for year 123,870 - 374,900
Eliminated on disposal (157,593 ) - (268,127 )
At 30 June 2023 343,556 36,922 2,194,420
NET BOOK VALUE
At 30 June 2023 461,577 - 1,343,447
At 30 June 2022 317,020 - 1,169,523

The net book value of tangible fixed assets includes £ 1,046,194 (2022 - £ 824,076 ) in respect of assets held under hire purchase contracts.

DAMM ENVIRONMENTAL LIMITED (REGISTERED NUMBER: SC218063)

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

5. STOCKS
30/6/23 30/6/22
£    £   
Stocks 30,378 25,097

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 1,394,387 1,299,974
Amounts owed by group undertakings 83,743 98,103
Other debtors 7,331 3,920
Prepayments 329,798 208,994
1,815,259 1,610,991

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Bank loans and overdrafts 130,185 -
Hire purchase contracts 262,691 267,170
Trade creditors 223,261 475,900
Social security and other taxes 289,027 292,377
Other creditors 20,266 39,552
Accrued expenses 283,259 262,835
1,208,689 1,337,834

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/23 30/6/22
£    £   
Hire purchase contracts 287,110 229,132

9. SECURED DEBTS

The following secured debts are included within creditors:

30/6/23 30/6/22
£    £   
Bank overdraft 130,185 -
Hire purchase contracts 549,801 496,302
679,986 496,302

The Clydesdale Bank plc hold a floating charge over the undertaking and all property and assets present and future.

Hire purchase creditors are secured over the assets to which they relate.

10. RELATED PARTY DISCLOSURES

Included within debtors is a balance owed by its parent company DAMM Environmental Holdings Ltd amounting to £ 83,743 (2022: £ 98,103).

DAMM ENVIRONMENTAL LIMITED (REGISTERED NUMBER: SC218063)

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

11. ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate parent undertaking is DAMM Environmental Holdings Ltd. DAMM Environmental Holdings Ltd is incorporated in Scotland. The company is under the day to day control of its directors and the shareholders of DAMM Environmental Holdings Ltd. No one individual can exercise ultimate control.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DAMM ENVIRONMENTAL LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Damm Environmental Limited for the year ended 30 June 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Damm Environmental Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Damm Environmental Limited and state those matters that we have agreed to state to the Board of Directors of Damm Environmental Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Damm Environmental Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Damm Environmental Limited. You consider that Damm Environmental Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Damm Environmental Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA


21 November 2023