Company registration number 07422226 (England and Wales)
ECOLUTION PRODUCTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
ECOLUTION PRODUCTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ECOLUTION PRODUCTS LIMITED (REGISTERED NUMBER: 07422226)
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
4,146
3,704
Cash at bank and in hand
301
809
4,447
4,513
Creditors: amounts falling due within one year
5
(4,481)
(4,481)
Net current (liabilities)/assets
(34)
32
Capital and reserves
Called up share capital
100
100
Share premium account
400,000
400,000
Profit and loss reserves
(400,134)
(400,068)
Total equity
(34)
32
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 January 2024 and are signed on its behalf by:
Mr K D Knapp
Director
ECOLUTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information
Ecolution Products Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is not going to continue trading for the next twelve months, however in the opinion of the directors there would be no material difference to the accounts if they were to be prepared on a break up basis. Ttruehe directors have also received assurances from the ultimate parent undertaking, Ecolution Group Limited, that ongoing financial support will be available to the company as required to ensure that it is able to meet its liabilities as they fall due.
1.3
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
There are no judgements or estimates that have been made by the directors which are considered material to the financial statements.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
ECOLUTION PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,931
2,489
Other debtors
1,215
1,215
4,146
3,704
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,481
4,481
6
Financial commitments, guarantees and contingent liabilities
The company has entered into a cross guarantee arrangement with its bankers in relation to its parent company, Ecolution Group Limited, and fellow subsidiaries Ecolution Energy Technologies Limited.
Loans and overdrafts are secured by fixed and floating charges over the company's assets both present in future.
7
Related party transactions
The company has taken advantage of the exemption within FRS 102 from the requirement to disclose transactions entered into between two or more members of a group provided that any subsidiary which is party to the transaction is wholly owned by such a member.false
8
Parent company
The immediate and ultimate parent company of Ecolution Products Limited is Ecolution Group Limited and its registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.