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REGISTERED NUMBER: 09602614 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

VERTEX ASBESTOS REMOVAL LIMITED

VERTEX ASBESTOS REMOVAL LIMITED (REGISTERED NUMBER: 09602614)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VERTEX ASBESTOS REMOVAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R Chittock
G White
Ms H Kearney





REGISTERED OFFICE: Henderson Business Centre
51 Ivy Road
Norwich
Norfolk
NR5 8BS





REGISTERED NUMBER: 09602614 (England and Wales)






VERTEX ASBESTOS REMOVAL LIMITED (REGISTERED NUMBER: 09602614)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 169,057 128,633

CURRENT ASSETS
Stocks 48,822 -
Debtors 5 537,229 368,262
Cash at bank and in hand 179,316 224,079
765,367 592,341
CREDITORS
Amounts falling due within one year 6 665,126 428,038
NET CURRENT ASSETS 100,241 164,303
TOTAL ASSETS LESS CURRENT
LIABILITIES

269,298

292,936

CREDITORS
Amounts falling due after more than one
year

7

(64,116

)

(61,853

)

PROVISIONS FOR LIABILITIES (42,264 ) (24,441 )
NET ASSETS 162,918 206,642

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 162,818 206,542
SHAREHOLDERS' FUNDS 162,918 206,642

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

VERTEX ASBESTOS REMOVAL LIMITED (REGISTERED NUMBER: 09602614)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





R Chittock - Director


VERTEX ASBESTOS REMOVAL LIMITED (REGISTERED NUMBER: 09602614)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Vertex Asbestos Removal 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.

Going concern
The directors have considered the company's position at the time of signing the financial statements. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

Turnover
Turnover is measured at 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
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has accepted delivery of the goods.

Rendering of services
Turnover 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.

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.

Depreciation is provided on the following basis:

Land and building - 20% straight line
Plant and machinery etc - 33% straight line, 25% reducing balance and 20% 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 the Statement of Income and retained earnings.

VERTEX ASBESTOS REMOVAL LIMITED (REGISTERED NUMBER: 09602614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, 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.

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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

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

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

VERTEX ASBESTOS REMOVAL LIMITED (REGISTERED NUMBER: 09602614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2023 2,282 77,538 3,161
Additions - 13,415 -
At 31 March 2024 2,282 90,953 3,161
DEPRECIATION
At 1 April 2023 2,282 41,768 2,627
Charge for year - 14,172 133
At 31 March 2024 2,282 55,940 2,760
NET BOOK VALUE
At 31 March 2024 - 35,013 401
At 31 March 2023 - 35,770 534

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 139,655 9,007 231,643
Additions 84,540 2,646 100,601
At 31 March 2024 224,195 11,653 332,244
DEPRECIATION
At 1 April 2023 50,194 6,139 103,010
Charge for year 43,500 2,372 60,177
At 31 March 2024 93,694 8,511 163,187
NET BOOK VALUE
At 31 March 2024 130,501 3,142 169,057
At 31 March 2023 89,461 2,868 128,633

VERTEX ASBESTOS REMOVAL LIMITED (REGISTERED NUMBER: 09602614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 36,000 110,574 146,574
Additions - 84,540 84,540
At 31 March 2024 36,000 195,114 231,114
DEPRECIATION
At 1 April 2023 14,400 33,381 47,781
Charge for year 7,200 40,433 47,633
At 31 March 2024 21,600 73,814 95,414
NET BOOK VALUE
At 31 March 2024 14,400 121,300 135,700
At 31 March 2023 21,600 77,193 98,793

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 534,111 365,844
Other debtors 3,118 2,418
537,229 368,262

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 60,350 44,389
Trade creditors 190,279 141,370
Taxation and social security 80,242 50,010
Other creditors 334,255 192,269
665,126 428,038

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 64,116 61,853

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 124,466 106,242

VERTEX ASBESTOS REMOVAL LIMITED (REGISTERED NUMBER: 09602614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. 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.

10. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Broadland Services Limited. The registered office address is 54 Thorpe Road, Norwich, NR1 1RY.