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REGISTERED NUMBER: 07745159 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

THE ENVIRONMENT PARTNERSHIP
(TEP) LIMITED

THE ENVIRONMENT PARTNERSHIP
(TEP) LIMITED (REGISTERED NUMBER: 07745159)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE ENVIRONMENT PARTNERSHIP
(TEP) LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: Mr G D Atherton
Mrs N J Hancock
Ms E J Seal
Ms K S Shilcock
Ms L Cunniff
Mr M Hodgkinson





REGISTERED OFFICE: 401 Faraday Street
Birchwood
Warrington
WA3 6GA





REGISTERED NUMBER: 07745159 (England and Wales)





AUDITORS: Xeinadin Audit Limited
100 Barbirolli Square
Manchester
M2 3BD

THE ENVIRONMENT PARTNERSHIP
(TEP) LIMITED (REGISTERED NUMBER: 07745159)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 151,813 111,464
151,813 111,464

CURRENT ASSETS
Debtors 6 4,901,037 4,356,075
Cash at bank 554,920 293,089
5,455,957 4,649,164
CREDITORS
Amounts falling due within one year 7 1,540,075 1,248,163
NET CURRENT ASSETS 3,915,882 3,401,001
TOTAL ASSETS LESS CURRENT LIABILITIES 4,067,695 3,512,465

PROVISIONS FOR LIABILITIES 9 25,879 27,038
NET ASSETS 4,041,816 3,485,427

CAPITAL AND RESERVES
Called up share capital 10 250,000 250,000
Retained earnings 3,791,816 3,235,427
SHAREHOLDERS' FUNDS 4,041,816 3,485,427

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by:





Ms E J Seal - Director


THE ENVIRONMENT PARTNERSHIP
(TEP) LIMITED (REGISTERED NUMBER: 07745159)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023


1. STATUTORY INFORMATION

The Environment Partnership (TEP) Limited is a private company limited by share capital, incorporated in England and Wales, registration number 07745159. The addresses of its registered office and the principal place of business is 401 Faraday Street, Birchwood, Warrington, England, WA3 6GA.

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 £.

Related party exemption
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.

Turnover
Turnover represents amounts recognised by the company in respect of services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of income relating to the provision of environmental consultancy services which are recognised at the point of which the services are provided.

Revenue from contracts for the provision of consultancy services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Leasehold property improvementsover the term of the lease
Fixtures, fittings and equipment25% reducing balance
Computer equipment33% reducing balance

Tangible fixed assets are depreciated from the date they are utilised in generating income.

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

THE ENVIRONMENT PARTNERSHIP
(TEP) LIMITED (REGISTERED NUMBER: 07745159)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued

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 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 trade and other debtors, gross amounts owed buy contract customers, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financial transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occured after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occuring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

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, which include trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transition, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

THE ENVIRONMENT PARTNERSHIP
(TEP) LIMITED (REGISTERED NUMBER: 07745159)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

THE ENVIRONMENT PARTNERSHIP
(TEP) LIMITED (REGISTERED NUMBER: 07745159)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the trade debtors and other debtors are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 158 (2022 - 149 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022 2,874,250
Disposals (2,874,250 )
At 31 July 2023 -
AMORTISATION
At 1 August 2022 2,874,250
Eliminated on disposal (2,874,250 )
At 31 July 2023 -
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

THE ENVIRONMENT PARTNERSHIP
(TEP) LIMITED (REGISTERED NUMBER: 07745159)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023


5. TANGIBLE FIXED ASSETS
Fixtures,
Leasehold fittings
property and Computer
improvements equipment equipment Totals
£    £    £    £   
COST
At 1 August 2022 57,583 207,418 316,640 581,641
Additions 45,580 23,490 16,528 85,598
Disposals (26,296 ) (181,942 ) (4,471 ) (212,709 )
Reclassification/transfer (31,287 ) 31,287 - -
At 31 July 2023 45,580 80,253 328,697 454,530
DEPRECIATION
At 1 August 2022 50,290 182,866 237,021 470,177
Charge for year 1,021 7,175 27,417 35,613
Eliminated on disposal (23,392 ) (175,505 ) (4,176 ) (203,073 )
Reclassification/transfer (27,919 ) 27,919 - -
At 31 July 2023 - 42,455 260,262 302,717
NET BOOK VALUE
At 31 July 2023 45,580 37,798 68,435 151,813
At 31 July 2022 7,293 24,552 79,619 111,464

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,740,769 2,296,521
Amounts owed by group undertakings 1,411,002 1,213,230
Amounts recoverable on contracts 440,593 620,298
Other debtors 551 25
Prepayments 308,122 226,001
4,901,037 4,356,075

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 385,428 341,289
Tax 189,129 143,615
Social security and other taxes 120,700 106,171
VAT 414,344 338,284
Other creditors 4,002 2,757
Accrued expenses 426,472 316,047
1,540,075 1,248,163

THE ENVIRONMENT PARTNERSHIP
(TEP) LIMITED (REGISTERED NUMBER: 07745159)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 187,518 171,750
Between one and five years 196,185 66,446
In more than five years 390,677 56,333
774,380 294,529

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 25,879 27,038

Deferred
tax
£   
Balance at 1 August 2022 27,038
Released during the year (1,159 )
Balance at 31 July 2023 25,879

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
250,000 Ordinary £1.00 250,000 250,000

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

The Report of the Auditors was unqualified.

Richard Lloyd (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

12. ULTIMATE CONTROLLING PARTY

The parent company of the largest and smallest group that includes the company and for which group financial statements are prepared is Grand Fir Limited. Copies of these financial statements can be obtained from Grand Fir Limited's registered office, 401, Faraday Street, Birchwood, Warrington, England, WA3 6GA.

The ultimate controlling party are the shareholders of Grand Fir Limited by virtue of their controlling interest in the entity.