Company registration number 04847440 (England and Wales)
STEAM & AIR BLOWING SERVICE COMPANY (SABSCO) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
STEAM & AIR BLOWING SERVICE COMPANY (SABSCO) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
STEAM & AIR BLOWING SERVICE COMPANY (SABSCO) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
5
-
0
823
Tangible assets
6
607,547
616,988
607,547
617,811
Current assets
Stocks
40,411
93,290
Debtors
7
1,413,551
1,261,291
Cash at bank and in hand
55,415
74,006
1,509,377
1,428,587
Creditors: amounts falling due within one year
8
(300,163)
(505,039)
Net current assets
1,209,214
923,548
Total assets less current liabilities
1,816,761
1,541,359
Provisions for liabilities
(142,836)
(60,162)
Net assets
1,673,925
1,481,197
Capital and reserves
Called up share capital
1,391,727
1,391,727
Profit and loss reserves
282,198
89,470
Total equity
1,673,925
1,481,197

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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 and signed by the director and authorised for issue on 16 April 2024
J Farriol
Director
Company Registration No. 04847440
STEAM & AIR BLOWING SERVICE COMPANY (SABSCO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Steam & Air Blowing Service Company (SABSCO) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit AA, St. Michaels Close, Aylesford, Kent, United Kingdom, ME20 7BU.

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Séché Environnement S.A.. These consolidated financial statements are available from its registered office, Les Hêtres BP20, 53811 Changé, France.

1.2
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

 

Profit is recognised on long-term contracts if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

STEAM & AIR BLOWING SERVICE COMPANY (SABSCO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.3
Intangible fixed assets other than goodwill

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
20% - 30% on cost
Development Costs
20% on cost
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
10% - 33.3% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost (as calculated using an average cost technique) and estimated selling price. At each reporting date an assessment is made for impairment. Any excess in value is charged as an impairment loss to the profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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 transaction 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.

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.

STEAM & AIR BLOWING SERVICE COMPANY (SABSCO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

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

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided in respect of the tax effect of all timing differences that have originated but not reversed at the balance sheet date.

 

A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

 

Deferred tax is measured on a non-discounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

STEAM & AIR BLOWING SERVICE COMPANY (SABSCO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.11
Retirement benefits

The company contributes to personal pension plans and the pension charge represents the amounts payable by the company.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
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

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Auditor's remuneration
2023
2022
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
20,650
16,500
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
16
15
STEAM & AIR BLOWING SERVICE COMPANY (SABSCO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Intangible fixed assets
Software
Development Costs
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
11,499
197,439
208,938
Amortisation and impairment
At 1 January 2023
10,676
197,439
208,115
Amortisation charged for the year
823
-
0
823
At 31 December 2023
11,499
197,439
208,938
Carrying amount
At 31 December 2023
-
0
-
0
-
0
At 31 December 2022
823
-
0
823
6
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2023
1,157,699
Additions
157,279
Disposals
(29,539)
At 31 December 2023
1,285,439
Depreciation and impairment
At 1 January 2023
540,711
Depreciation charged in the year
165,060
Eliminated in respect of disposals
(27,879)
At 31 December 2023
677,892
Carrying amount
At 31 December 2023
607,547
At 31 December 2022
616,988
STEAM & AIR BLOWING SERVICE COMPANY (SABSCO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
266,157
422,465
Amounts owed by group undertakings
1,019,105
706,738
Other debtors
128,289
132,088
1,413,551
1,261,291
8
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
87,206
66,339
Amounts owed to group undertakings
65,927
190,001
Corporation tax
23,794
-
0
Other taxation and social security
50,634
53,156
Other creditors
72,602
195,543
300,163
505,039
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Claire Parry FCA
Statutory Auditor:
Azets
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
113,105
158,403
11
Financial commitments, guarantees and contingent liabilities

At the balance sheet date, there was a commitment to purchases of stocks worth £nil (2022: £25,210).

STEAM & AIR BLOWING SERVICE COMPANY (SABSCO) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
12
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2023
2022
2023
2022
£
£
£
£
Other related parties
44,873
-
0
21,544
114,391

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Other related parties
21,544
21,832

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due from related parties
£
£
Other related parties
44,873
-
Other information

The company seeks to invoke the exemption provided in section 33.1A of Financial Reporting Standard 102, allowing non disclosure of related party transactions for wholly owned subsidiaries.

13
Parent company

The immediate parent undertaking is Solarca S.L., which has its registered office at C/De la Química nº3, Polígono Industrial Xalamec – Parcela C1, La Selva del Camp, 43470 Tarragona, Spain.

 

The ultimate parent undertaking is Séché Environnement S.A., a company incorporated in France.

2023-12-312023-01-01false16 April 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedJ FarriolJ Farriolfalse048474402023-01-012023-12-31048474402023-12-31048474402022-12-3104847440core:ComputerSoftware2023-12-3104847440core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-3104847440core:ComputerSoftware2022-12-3104847440core:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-3104847440core:FurnitureFittings2023-12-3104847440core:FurnitureFittings2022-12-3104847440core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3104847440core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3104847440core:CurrentFinancialInstruments2023-12-3104847440core:CurrentFinancialInstruments2022-12-3104847440core:ShareCapital2023-12-3104847440core:ShareCapital2022-12-3104847440core:RetainedEarningsAccumulatedLosses2023-12-3104847440core:RetainedEarningsAccumulatedLosses2022-12-3104847440bus:CompanySecretaryDirector12023-01-012023-12-3104847440core:FurnitureFittings2023-01-012023-12-31048474402022-01-012022-12-3104847440core:ComputerSoftware2022-12-3104847440core:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-31048474402022-12-3104847440core:ComputerSoftware2023-01-012023-12-3104847440core:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-012023-12-3104847440core:FurnitureFittings2022-12-3104847440core:WithinOneYear2023-12-3104847440core:WithinOneYear2022-12-3104847440core:OtherRelatedPartiescore:SaleOrPurchaseGoods2023-01-012023-12-3104847440core:OtherRelatedPartiescore:SaleOrPurchaseGoods2022-01-012022-12-3104847440core:OtherRelatedParties2023-01-012023-12-3104847440core:OtherRelatedParties2022-01-012022-12-3104847440core:OtherRelatedParties2023-12-3104847440bus:PrivateLimitedCompanyLtd2023-01-012023-12-3104847440bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104847440bus:FRS1022023-01-012023-12-3104847440bus:Audited2023-01-012023-12-3104847440bus:Director12023-01-012023-12-3104847440bus:CompanySecretary12023-01-012023-12-3104847440bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP