Company registration number 01890293 (England and Wales)
SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
COMPANY INFORMATION
Directors
M. Harris
V.M. Harris
Secretary
V.M. Harris
Company number
01890293
Registered office
Unit 7B Thame Industrial Estate
Lupton Road
Thame
Oxford
OX9 3SE
Accountants
Ward Williams Limited
Bay Lodge
36 Harefield Road
Uxbridge
Middlesex
UB8 1PH
Business address
7B Thame Industrial Estate
Lupton Road
Thame
Oxford
OX9 3SE
Bankers
HSBC
1 Corn Market
High Wycombe
Bucks
HP11 2AY
SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 10
SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Property, plant and equipment
5
68,319
100,005
Current assets
Inventories
2,000
2,000
Trade and other receivables
6
212,284
267,725
Cash at bank and in hand
324,106
397,856
538,390
667,581
Current liabilities
7
(151,138)
(164,908)
Net current assets
387,252
502,673
Total assets less current liabilities
455,571
602,678
Non-current liabilities
8
(13,820)
(48,390)
Provisions for liabilities
9
(13,279)
(20,958)
Net assets
428,472
533,330
Equity
Called up share capital
11
133
133
Retained earnings
12
428,339
533,197
Total equity
428,472
533,330
SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 April 2024 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 member has 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 3 September 2024 and are signed on its behalf by:
M. Harris
Director
Company Registration No. 01890293
SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Scancross (Environmental Services) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7B Thame Industrial Estate, Lupton Road, Thame, Oxford, OX9 3SE.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue
Turnover represents amounts receivable for services net of VAT and trade discounts.

Revenue from contracts 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 are recoverable.

1.4
Property, plant and equipment

Property, plant and equipment 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:

Plant and machinery
15% on cost
Office equipment and furniture
25% on cost
Motor vehicles
25% 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
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Any impairment loss is recognised immediately in profit and loss.

SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

1.6
Inventories

Inventories are stated at the lower of cost and net realisable value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated net realisable value is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
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 statement of financial position 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 receivables and cash and bank balances, are measured at transaction price, less any impairment.

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, including trade and other payables 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.

 

Trade payables 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.

1.9
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.

SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.10
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 income statement 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 tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
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 non-current 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.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2023 - 3).

3
Directors' remuneration
2024
2023
£
£
Remuneration paid to directors
109,887
101,245

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2023 - 2).

4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
-
0
18,354
Adjustments in respect of prior periods
(11,807)
125
Total current tax
(11,807)
18,479
Deferred tax
Origination and reversal of timing differences
(7,679)
6,521
Total tax (credit)/charge
(19,486)
25,000
SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
5
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 May 2023
194,306
Additions
10,230
Disposals
(22,660)
At 30 April 2024
181,876
Depreciation and impairment
At 1 May 2023
94,301
Depreciation charged in the year
36,147
Eliminated in respect of disposals
(16,891)
At 30 April 2024
113,557
Carrying amount
At 30 April 2024
68,319
At 30 April 2023
100,005
6
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
175,508
234,239
Corporation tax recoverable
11,807
-
0
Other receivables
24,969
33,486
212,284
267,725
7
Current liabilities
2024
2023
£
£
Trade payables
106,385
83,809
Corporation tax
-
0
18,354
Other taxation and social security
1,393
3,385
Other payables
43,360
59,360
151,138
164,908
SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
8
Non-current liabilities
2024
2023
£
£
Other payables
13,820
48,390

Other payables in both current and non-current liabilities includes £48,037 (2023: £72,878) relating to assets held under finance leases, with the security given being the assets for which the finance lease relates.

9
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
13,279
20,958
2024
Movements in the year:
£
Liability at 1 May 2023
20,958
Credit to profit or loss
(7,679)
Liability at 30 April 2024
13,279
10
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
61,001
41,004

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

11
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
133
133
133
133
SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 9 -
12
Retained earnings
2024
2023
£
£
At the beginning of the year
533,197
498,310
(Loss)/profit for the year
(73,858)
86,887
Dividends declared and paid in the year
(31,000)
(52,000)
At the end of the year
428,339
533,197
13
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:

2024
2023
£
£
Total Commitments
30,333
43,333
30,333
43,333
14
Directors' transactions

Interest free loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
V.M. Harris -
-
8,188
1,000
(9,312)
(124)
8,188
1,000
(9,312)
(124)

 

Dividends totalling £31,000 (2023 - £52,000) were paid in the year in respect of shares held by the company's directors.

SCANCROSS (ENVIRONMENTAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 10 -
15
Ultimate controlling party

The company is under the control of director M. Harris.

16
Related party transactions

During the year the company made payments totalling £13,000 (2023: £13,000) regarding rent of premises. The premises are owned by a pension fund of which director of the company M. Harris is the sole member.

 

Also during the previous year, the company sold a motor vehicle to director of the company V. Harris for £8,000 (no such transactions in 2024). This transaction was made on an arms length basis with the valuation based on available market data for that motor vehicle.

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