Company registration number 05689376 (England and Wales)
COMPLETE ENVIRONMENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
COMPLETE ENVIRONMENT LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
COMPLETE ENVIRONMENT LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COMPLETE ENVIRONMENT LTD FOR THE YEAR ENDED 31 MARCH 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Complete Environment Ltd for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Complete Environment Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Complete Environment Ltd and state those matters that we have agreed to state to the Board of Directors of Complete Environment Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Complete Environment Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Complete Environment Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Complete Environment Ltd. You consider that Complete Environment Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Complete Environment Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ellacotts LLP
Chartered Accountants
Countrywide House
23 West Bar
Banbury
Oxfordshire
OX16 9SA
Date:
23 September 2024
COMPLETE ENVIRONMENT LTD
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
5,400
7,200
Tangible assets
4
446,559
466,295
451,959
473,495
Current assets
Stocks
2,000
3,500
Debtors
6
958,399
662,145
Cash at bank and in hand
1,335,690
709,436
2,296,089
1,375,081
Creditors: amounts falling due within one year
7
(590,481)
(279,590)
Net current assets
1,705,608
1,095,491
Total assets less current liabilities
2,157,567
1,568,986
Provisions for liabilities
(18,569)
(21,436)
Net assets
2,138,998
1,547,550
Capital and reserves
Called up share capital
9
10
10
Profit and loss reserves
2,138,988
1,547,540
Total equity
2,138,998
1,547,550
The director of the company has 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 director acknowledges his 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.
COMPLETE ENVIRONMENT LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 23 September 2024
Mr G R Hickman
Director
Company registration number 05689376 (England and Wales)
COMPLETE ENVIRONMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
Complete Environment Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Countrywide House, 23 West Bar, Banbury, Oxfordshire, OX16 9SA.
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
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and settlement discounts.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.4
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:
Land and buildings Freehold
2% straight line
Plant and machinery
15% reducing balance
Fixtures and Fittings
25% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
25% reducing balance
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
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
COMPLETE ENVIRONMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.6
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.
1.7
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.
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 profit and loss account, 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.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
6
COMPLETE ENVIRONMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
18,000
Amortisation and impairment
At 1 April 2023
10,800
Amortisation charged for the year
1,800
At 31 March 2024
12,600
Carrying amount
At 31 March 2024
5,400
At 31 March 2023
7,200
4
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures and Fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2023
413,537
51,386
8,522
8,982
111,127
593,554
Additions
1,040
2,900
54,250
58,190
Disposals
(5,589)
(59,113)
(64,702)
At 31 March 2024
413,537
52,426
8,522
6,293
106,264
587,042
Depreciation and impairment
At 1 April 2023
32,983
34,403
6,172
7,424
46,277
127,259
Depreciation charged in the year
8,271
2,703
588
825
18,023
30,410
Eliminated in respect of disposals
(5,082)
(12,104)
(17,186)
At 31 March 2024
41,254
37,106
6,760
3,167
52,196
140,483
Carrying amount
At 31 March 2024
372,283
15,320
1,762
3,126
54,068
446,559
At 31 March 2023
380,554
16,983
2,350
1,558
64,850
466,295
5
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
286,101
85,046
COMPLETE ENVIRONMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Taxation
2024
2023
£
£
(Continued)
- 7 -
Deferred tax
Origination and reversal of timing differences
(2,867)
(1,308)
Total tax charge
283,234
83,738
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
937,973
653,803
Other debtors
20,426
8,342
958,399
662,145
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
115,947
70,454
Corporation tax
286,101
85,046
Other taxation and social security
168,096
118,840
Other creditors
20,337
5,250
590,481
279,590
8
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
18,569
21,436
COMPLETE ENVIRONMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
8
Deferred taxation
(Continued)
- 8 -
2024
Movements in the year:
£
Liability at 1 April 2023
21,436
Credit to profit or loss
(2,867)
Liability at 31 March 2024
18,569
9
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
10
10