IRIS Accounts Production v24.1.0.578 04243379 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false Ordinary 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh042433792022-07-31042433792023-07-31042433792022-08-012023-07-31042433792021-07-31042433792021-08-012022-07-31042433792022-07-3104243379ns15:EnglandWales2022-08-012023-07-3104243379ns14:PoundSterling2022-08-012023-07-3104243379ns10:Director12022-08-012023-07-3104243379ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3104243379ns10:SmallEntities2022-08-012023-07-3104243379ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3104243379ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3104243379ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3104243379ns10:FullAccounts2022-08-012023-07-3104243379ns10:OrdinaryShareClass12022-08-012023-07-3104243379ns10:Director22022-08-012023-07-3104243379ns10:Director32022-08-012023-07-3104243379ns10:Director42022-08-012023-07-3104243379ns10:Director52022-08-012023-07-3104243379ns10:Director62022-08-012023-07-3104243379ns10:Director72022-08-012023-07-3104243379ns10:RegisteredOffice2022-08-012023-07-3104243379ns5:CurrentFinancialInstruments2023-07-3104243379ns5:CurrentFinancialInstruments2022-07-3104243379ns5:Non-currentFinancialInstruments2023-07-3104243379ns5:Non-currentFinancialInstruments2022-07-3104243379ns5:ShareCapital2023-07-3104243379ns5:ShareCapital2022-07-3104243379ns5:SharePremium2023-07-3104243379ns5:SharePremium2022-07-3104243379ns5:RetainedEarningsAccumulatedLosses2023-07-3104243379ns5:RetainedEarningsAccumulatedLosses2022-07-3104243379ns5:PlantMachinery2022-07-3104243379ns5:PlantMachinery2022-08-012023-07-3104243379ns5:PlantMachinery2023-07-3104243379ns5:PlantMachinery2022-07-3104243379ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3104243379ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3104243379ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3104243379ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3104243379ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-07-3104243379ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-07-3104243379ns5:HirePurchaseContracts2023-07-3104243379ns5:HirePurchaseContracts2022-07-3104243379ns5:WithinOneYear2023-07-3104243379ns5:WithinOneYear2022-07-3104243379ns5:BetweenOneFiveYears2023-07-3104243379ns5:BetweenOneFiveYears2022-07-3104243379ns5:AllPeriods2023-07-3104243379ns5:AllPeriods2022-07-3104243379ns5:Secured2023-07-3104243379ns5:Secured2022-07-3104243379ns10:OrdinaryShareClass12023-07-31
REGISTERED NUMBER: 04243379 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

S M S ENVIRONMENTAL LIMITED

S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S M S ENVIRONMENTAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: M J Crook
G T Harris
N Hearn
J W Lees
J Sandford
Mrs M J Hearn
T R Maddox





REGISTERED OFFICE: Quad One Becquerel Avenue
Harwell Campus
Didcot
Oxfordshire
OX11 0RA





REGISTERED NUMBER: 04243379 (England and Wales)





ACCOUNTANTS: Haines Watts
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

BALANCE SHEET
31 JULY 2023

2023 2022
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 185,369 164,126

CURRENT ASSETS
Debtors 5 2,803,184 2,205,036
Cash at bank and in hand 1,542,443 1,635,386
4,345,627 3,840,422
CREDITORS
Amounts falling due within one year 6 1,843,401 1,683,454
NET CURRENT ASSETS 2,502,226 2,156,968
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,687,595

2,321,094

CREDITORS
Amounts falling due after more than one
year

7

(134,231

)

(232,947

)

PROVISIONS FOR LIABILITIES (87,805 ) (84,103 )
NET ASSETS 2,465,559 2,004,044

CAPITAL AND RESERVES
Called up share capital 10 210 210
Share premium 9,990 9,990
Retained earnings 2,455,359 1,993,844
SHAREHOLDERS' FUNDS 2,465,559 2,004,044

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

BALANCE SHEET - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:





G T Harris - Director


S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

S M S Environmental Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue
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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually
associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are
provided in accordance with the stage of completion of the contract 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 under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Improvements to property - 15% Straight line
Plant and machinery - 25% Straight line
Computer equipment - 33% Straight line
Other fixed assets - 33% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially, and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued
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.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the
lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a
straight-line basis over the lease term, unless another systematic basis is representative of the time
pattern of the lessee's benefit from the use of the leased asset.

Leased assets
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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.

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest
method so that the amount charged is at a constant rate on the carrying amount. Issue costs are
initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are
recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Interest income
Interest income is recognised in profit or loss using the effective interest method.

Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 188 (2022 - 174 ) .

S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 August 2022 542,500
Additions 122,524
At 31 July 2023 665,024
DEPRECIATION
At 1 August 2022 378,374
Charge for year 101,281
At 31 July 2023 479,655
NET BOOK VALUE
At 31 July 2023 185,369
At 31 July 2022 164,126

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£ £
Trade debtors 1,539,719 1,565,313
Amounts owed by group undertakings 369,951 343,135
Other debtors 893,514 296,588
2,803,184 2,205,036

Amounts owed by group undertakings are non-interest bearing and repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£ £
Bank loans and overdrafts 101,286 131,749
Hire purchase contracts (see note 8) 2,192 24,144
Trade creditors 857,642 669,145
Taxation and social security 554,831 455,830
Other creditors 327,450 402,586
1,843,401 1,683,454

S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£ £
Bank loans 133,093 229,368
Hire purchase contracts (see note 8) 1,138 3,579
134,231 232,947

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
as restated
£ £
Net obligations repayable:
Within one year 2,192 24,144
Between one and five years 1,138 3,579
3,330 27,723

Non-cancellable
operating leases
2023 2022
as restated
£ £
Within one year 852,506 468,207
Between one and five years 1,312,843 259,886
2,165,349 728,093

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£ £
Bank loans 234,379 361,117

S M S ENVIRONMENTAL LIMITED (REGISTERED NUMBER: 04243379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£ £
21,000 Ordinary 1p 210 210

11. RELATED PARTY DISCLOSURES

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.

12. CONTROLLING PARTY

The Company is controlled by the parent company, Sandford, Hearn, Harris & Associates Ltd.

There is no ultimate controlling party.