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COMPANY REGISTRATION NUMBER: 13134773
Envisage Groundcare Limited
Filleted Unaudited Financial Statements
31 January 2024
Envisage Groundcare Limited
Financial Statements
Year ended 31 January 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Envisage Groundcare Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
88,200
100,800
Tangible assets
6
140,694
117,848
---------
---------
228,894
218,648
Current assets
Stocks
400
Debtors
7
5,721
Cash at bank and in hand
76,534
57,361
--------
--------
82,255
57,761
Creditors: amounts falling due within one year
8
292,076
282,948
---------
---------
Net current liabilities
209,821
225,187
---------
---------
Total assets less current liabilities
19,073
( 6,539)
--------
-------
Net assets/(liabilities)
19,073
( 6,539)
--------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
18,973
( 6,639)
--------
-------
Shareholders funds/(deficit)
19,073
( 6,539)
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Envisage Groundcare Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024 , and are signed on behalf of the board by:
Mr A Sage
Director
Company registration number: 13134773
Envisage Groundcare Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the directors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Freehold property
Freehold property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Freehold property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Motor vehicles
-
20% straight line
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
126,000
---------
Amortisation
At 1 February 2023
25,200
Charge for the year
12,600
---------
At 31 January 2024
37,800
---------
Carrying amount
At 31 January 2024
88,200
---------
At 31 January 2023
100,800
---------
6. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 February 2023
59,706
41,284
37,200
750
138,940
Additions
7,909
40,682
48,591
Disposals
( 4,678)
( 4,270)
( 8,948)
--------
--------
--------
----
---------
At 31 January 2024
67,615
77,288
32,930
750
178,583
--------
--------
--------
----
---------
Depreciation
At 1 February 2023
10,573
10,494
25
21,092
Charge for the year
12,323
6,586
150
19,059
Disposals
( 1,871)
( 391)
( 2,262)
--------
--------
--------
----
---------
At 31 January 2024
21,025
16,689
175
37,889
--------
--------
--------
----
---------
Carrying amount
At 31 January 2024
67,615
56,263
16,241
575
140,694
--------
--------
--------
----
---------
At 31 January 2023
59,706
30,711
26,706
725
117,848
--------
--------
--------
----
---------
Included in tangible assets is freehold property which is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Freehold property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
7. Debtors
2024
2023
£
£
Trade debtors
5,721
-------
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
975
Social security and other taxes
2,579
2,884
Other creditors
289,497
279,089
---------
---------
292,076
282,948
---------
---------
9. Director's advances, credits and guarantees
At the period end the company owed a director £288,097 (2023: £277,689).