Company registration number 05927295 (England and Wales)
BETTS GEO ENVIRONMENTAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BETTS GEO ENVIRONMENTAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BETTS GEO ENVIRONMENTAL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,057
16,273
Current assets
Stocks
4
29,000
22,972
Debtors
5
251,236
287,572
Cash at bank and in hand
22,549
44,265
302,785
354,809
Creditors: amounts falling due within one year
6
(259,965)
(279,197)
Net current assets
42,820
75,612
Total assets less current liabilities
52,877
91,885
Creditors: amounts falling due after more than one year
7
(23,025)
(36,151)
Provisions for liabilities
(2,514)
(849)
Net assets
27,338
54,885
Capital and reserves
Called up share capital
8
500
500
Share premium account
10,450
10,450
Profit and loss reserves
16,388
43,935
Total equity
27,338
54,885

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

For the financial year ended 31 March 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 members have 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.

BETTS GEO ENVIRONMENTAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 July 2024 and are signed on its behalf by:
Mr R M Frimston
Mr M J Fawcett
Director
Director
Company registration number 05927295 (England and Wales)
BETTS GEO ENVIRONMENTAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Betts Geo Environmental Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6-7 Old Marsh Farm Barns, Welsh Road, Sealand, Deeside, Flintshire, CH5 2LY.

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
Turnover

The turnover shown in the profit and loss account represents the invoice value of services provided during the period, net of value added tax.

 

Turnover is recognised at the time work is completed and includes unbilled work in progress at the balance sheet date.

1.3
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:

Plant and machinery
20% per annum on cost
Fixtures, fittings & equipment
20% per annum on cost
Computer equipment
33% per annum on cost
Motor vehicles
25% per annum 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.

1.4
Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate.

1.5
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.

BETTS GEO ENVIRONMENTAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
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.

1.6
Retirement benefits

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

1.7
Leases

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2
Employees

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

2024
2023
Number
Number
Total
11
10
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023 and 31 March 2024
7,620
6,979
15,861
19,601
50,061
Depreciation and impairment
At 1 April 2023
7,620
6,449
14,819
4,900
33,788
Depreciation charged in the year
-
0
530
786
4,900
6,216
At 31 March 2024
7,620
6,979
15,605
9,800
40,004
Carrying amount
At 31 March 2024
-
0
-
0
256
9,801
10,057
At 31 March 2023
-
0
530
1,042
14,701
16,273
BETTS GEO ENVIRONMENTAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Stocks
2024
2023
£
£
Work in progress
29,000
22,972
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
192,809
244,152
Amounts owed by group undertakings
11,912
1,190
Other debtors
46,515
42,230
251,236
287,572
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
145,758
141,271
Amounts owed to group undertakings
-
0
29,910
Taxation and social security
66,540
75,533
Other creditors
37,667
22,483
259,965
279,197

The finance lease included above is secured by the company in the current and prior year.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,418
21,567
Obligations under finance leases
10,607
14,584
23,025
36,151

The finance lease included above is secured by the company in the current and prior year.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
500
500
500
500
BETTS GEO ENVIRONMENTAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
9
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
£
£
39,856
51,938
10
Related party transactions

During the year, management and administration charges of £40,266 (2023 - £52,280) were invoiced to the company from Betts Associates Limited, a company operating from the same premises with shareholders in common. Debtors at 31 March 2024 included £10,722 (2023 - £Nil) due from Betts Associates Limited. Creditors at 31 March 2024 included £Nil (2023 - £29,910) due to Betts Associates Limited.

 

Debtors at 31 March 2024 included £1,190 (2023 - £1,190) due from Betts Hydro Limited, a company operating from the same premises with shareholders in common.

 

Mr R M Frimston is a director and shareholder of Betts Associates Limited and Betts Hydro Limited.

11
Directors' transactions

The following advances were made to a director in the year. Advances to directors are repayable on demand.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan to director
2.50
41,285
45,288
1,442
(41,500)
46,515
41,285
45,288
1,442
(41,500)
46,515
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