Registered number
07694957
M2 Environmental Ltd
Filleted Accounts
31 July 2023
M2 Environmental Ltd
Registered number: 07694957
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,433 7,633
Current assets
Debtors 4 13,493 26,555
Cash at bank and in hand 46,263 38,534
59,756 65,089
Creditors: amounts falling due within one year 5 (50,846) (54,314)
Net current assets 8,910 10,775
Total assets less current liabilities 16,343 18,408
Creditors: amounts falling due after more than one year 6 (20,833) (30,833)
Net liabilities (4,490) (12,425)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (5,490) (13,425)
Shareholder's funds (4,490) (12,425)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Miller
Director
Approved by the board on 23 April 2024
M2 Environmental Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3-5 years straight line
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 18,511 11,500 30,011
Additions 3,442 - 3,442
At 31 July 2023 21,953 11,500 33,453
Depreciation
At 1 August 2022 13,861 8,517 22,378
Charge for the year 2,896 746 3,642
At 31 July 2023 16,757 9,263 26,020
Net book value
At 31 July 2023 5,196 2,237 7,433
At 31 July 2022 4,650 2,983 7,633
4 Debtors 2023 2022
£ £
Trade debtors 11,340 13,392
Other debtors 2,153 13,163
13,493 26,555
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 36,826 40,461
Taxation and social security costs 4,020 3,853
50,846 54,314
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 20,833 30,833
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
S Miller
Director's current account 12,098 2,742 (13,751) 1,089
12,098 2,742 (13,751) 1,089
8 Controlling party
The company is controlled by the sole director who owns 100% of the issued share capital.
9 Other information
M2 Environmental Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Wynyard Park House
Wynyard Avenue, Wynyard
Billingham
Cleveland
TS22 5TB
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