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COMPANY REGISTRATION NUMBER: 06313671
EcoVigour Limited
Filleted Unaudited Financial Statements
31 January 2024
EcoVigour Limited
Financial Statements
Year ended 31 January 2024
CONTENTS
PAGE
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
EcoVigour Limited
Officers and Professional Advisers
The board of directors
Mr J Gregory
Mr O Thomas
Registered office
Hardwick Farm
Five Lanes
Caerwent
Newport
Monmouthshire
United Kingdom
NP26 5PH
Accountants
James & Uzzell Ltd
Chartered Certified Accountants
Axis 15, Axis Court
Mallard Way
Riverside Business Park
Swansea
SA7 0AJ
EcoVigour Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
FIXED ASSETS
Tangible assets
5
364,406
422,322
CURRENT ASSETS
Stocks
6
100,360
142
Debtors
7
528,453
990,098
Cash at bank and in hand
179,501
10,014
---------
-----------
808,314
1,000,254
CREDITORS: amounts falling due within one year
8
400,550
599,052
---------
-----------
NET CURRENT ASSETS
407,764
401,202
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
772,170
823,524
CREDITORS: amounts falling due after more than one year
9
177,489
265,460
PROVISIONS
88,422
77,294
---------
---------
NET ASSETS
506,259
480,770
---------
---------
CAPITAL AND RESERVES
Called up share capital
10
2
2
Profit and loss account
506,257
480,768
---------
---------
SHAREHOLDERS FUNDS
506,259
480,770
---------
---------
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
EcoVigour Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 17 October 2024 , and are signed on behalf of the board by:
Julian Gregory
Julian Gregory
Director
Company registration number: 06313671
EcoVigour Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. GENERAL INFORMATION
EcoVigour Limited is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities is consultation advice on environmental matters and evironmentally friendly site preparaion.
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 a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 31 January 2024. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The director has considered the future trading position of the company and is confident that the going concern principle can be applied to the financial statements.
Loans and borrowings
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.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Critical accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below
(i) Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the property plant and equipment, and the depreciation accounting policy for the useful economic lives for each class of assets.
(ii) Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 13 for the net carrying amount of the debtors and associated impairment provision.
(iii) Provisions
Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes
(iv) Going Concern
The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard
Debtors and creditors receivable/payable within one year
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Rendering of services When the outcome of a transaction can be estimated reliably, turnover from groundwork and consultation advice is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to site surveys. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. Construction contracts When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to site surveys. Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable. When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision. Interest receivable Interest income is recognised using the effective interest method as the company's right to receive payment is established.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
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
-
10% straight line
Fixtures and fittings
-
20% straight line
Motor vehicles
-
25% straight line
Equipment
-
33 % straight line
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
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.
Leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease. Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 35 (2023: 25 ).
5. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 February 2023
779,374
24,694
83,523
1,700
889,291
Additions
10,500
10,500
Disposals
( 24,694)
( 1,700)
( 26,394)
Transfers
(116,827)
116,826
(1)
---------
--------
---------
------
---------
At 31 January 2024
673,047
200,349
873,396
---------
--------
---------
------
---------
Depreciation
At 1 February 2023
393,521
21,069
51,246
1,133
466,969
Charge for the year
40,045
515
24,178
378
65,116
Disposals
( 21,584)
( 1,511)
( 23,095)
---------
--------
---------
------
---------
At 31 January 2024
433,566
75,424
508,990
---------
--------
---------
------
---------
Carrying amount
At 31 January 2024
239,481
124,925
364,406
---------
--------
---------
------
---------
At 31 January 2023
385,853
3,625
32,277
567
422,322
---------
--------
---------
------
---------
6. STOCKS
2024
2023
£
£
Raw materials and consumables
100,360
142
---------
----
7. DEBTORS
2024
2023
£
£
Trade debtors
454,030
526,539
Other debtors
74,423
463,559
---------
---------
528,453
990,098
---------
---------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
72,895
85,537
Trade creditors
127,918
96,692
Amounts owed to group undertakings and undertakings in which the company has a participating interest
16,000
Corporation tax
10,753
Social security and other taxes
70,331
312,674
Other creditors
129,406
77,396
---------
---------
400,550
599,052
---------
---------
9. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
88,150
149,166
Other creditors
89,339
116,294
---------
---------
177,489
265,460
---------
---------
10. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
11. OTHER FINANCIAL COMMITMENTS
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £2,518 (2023: £9,793).
12. RELATED PARTY TRANSACTIONS
Entities with control, joint control or significant influence over the entity Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies.
13. EXCEPTIONAL ITEM
There is an exceptional item included in other income during the year which relates to an intercompany writeoff.
14. PARENT UNDERTAKINGS
The ultimate parent company is EcoDynamic Plant and Equipment Hire Limited, a company incorporated in England and Wales. It's registered office is the same as that displayed on page 1 of these financial statements.