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Registered number: 03315795










ENVIRONMENTAL BIOTECH UK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ENVIRONMENTAL BIOTECH UK LIMITED
REGISTERED NUMBER:03315795

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
201,582
201,582

Current assets
  

Debtors: amounts falling due within one year
 5 
204,817
204,817

Creditors: amounts falling due within one year
 6 
(407,252)
(407,252)

Net current liabilities
  
 
 
(202,435)
 
 
(202,435)

  

Net liabilities
  
(853)
(853)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(855)
(855)

  
(853)
(853)


For the year ended 31 December 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr A A Tejpar
Director

Date: 10 September 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
ENVIRONMENTAL BIOTECH UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Environmental Biotech Limited (“the Company”) is a private company limited by shares, incorporated in England and Wales under the Companies Act. 
The registered number and address of the registered office are given in the company information.
The functional and presentational currency of the Company is pounds sterling (£) and rounded to the nearest whole pound. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon an improvement in the company's trading position and continued financial support from its director and shareholders. The financial statements do not include any adjustments that would result if such support is not continuing.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

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.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Profit and Loss Account if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.


 
Page 2

 
ENVIRONMENTAL BIOTECH UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Financial instruments (continued)

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

 
2.5

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
201,582



At 31 December 2023
201,582




Court Langley LLC, a company registered in the USA, is a wholly owned subsidiary of Environmental Biotech UK Limited.

Page 3

 
ENVIRONMENTAL BIOTECH UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
204,817
204,817

204,817
204,817



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
406,398
406,398

Other creditors
854
854

407,252
407,252



7.


Related party transactions

At the balance sheet date Environmental Biotech UK Limited owed parent company Banstead Services Limited  £406,398 (2022: £406,398). This loan is unsecured, interest free and repayable on demand. This balance is included within amounts owed to group undertakings.
At the balance sheet date Environmental Biotech UK Limited was owed £204,818 (2022: £204,818) by group  company Court Langley LLC. This loan is unsecured, interest free and repayable on demand. This balance is included within amounts owed by group undertakings.


8.


Controlling party

The company's utimate parent is Banstead Sevices Limited, a company incorporated in the Isle of Man. The registered office of Banstead Services Limited is 36 Hope Street, Douglas, Isle of Man, IM1 1AR.

Page 4