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COMPANY REGISTRATION NUMBER: 04647691
ENVIROSAVERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
31 January 2024
ENVIROSAVERS LIMITED
FINANCIAL STATEMENTS
Year ended 31 January 2024
CONTENTS
PAGE
Directors' report
1
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5
The following pages do not form part of the financial statements
Detailed profit and loss account
10
ENVIROSAVERS LIMITED
DIRECTORS' REPORT
Year ended 31 January 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 January 2024 .
Directors
The directors who served the company during the year were as follows:
Mr CA Bowen
Mr M Prescott
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 28 October 2024 and signed on behalf of the board by:
Mr CA Bowen
Director
CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ENVIROSAVERS LIMITED
Year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Envirosavers Limited for the year ended 31 January 2024, which comprise the profit and loss account, 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Envirosavers Limited, as a body, in accordance with the terms of our engagement letter dated 14 April 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Envirosavers Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Envirosavers Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Envirosavers Limited 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 Envirosavers Limited. You consider that Envirosavers Limited 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 Envirosavers Limited. 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.
KILSBY & WILLIAMS LLP Chartered Accountants
Cedar House Hazell Drive Newport NP10 8FY
ENVIROSAVERS LIMITED
PROFIT AND LOSS ACCOUNT
Year ended 31 January 2024
2024
2023
Note
£
£
TURNOVER
1,405,346
1,027,372
Cost of sales
( 880,391)
( 710,185)
------------
------------
GROSS PROFIT
524,955
317,187
Administrative expenses
( 268,606)
( 252,981)
---------
---------
OPERATING PROFIT
256,349
64,206
Other interest receivable and similar income
622
Interest payable and similar expenses
( 52)
---------
---------
PROFIT BEFORE TAXATION
5
256,971
64,154
Tax on profit
( 55,498)
( 15,274)
---------
--------
PROFIT FOR THE FINANCIAL YEAR AND TOTAL COMPREHENSIVE INCOME
201,473
48,880
---------
--------
Dividends paid and payable
( 125,000)
( 50,000)
RETAINED EARNINGS AT THE START OF THE YEAR
717,513
718,633
---------
---------
RETAINED EARNINGS AT THE END OF THE YEAR
793,986
717,513
---------
---------
All the activities of the company are from continuing operations.
ENVIROSAVERS LIMITED
BALANCE SHEET
31 January 2024
2024
2023
Note
£
£
FIXED ASSETS
Tangible assets
6
41,943
27,658
CURRENT ASSETS
Debtors
7
219,185
275,372
Cash at bank and in hand
719,970
539,718
---------
---------
939,155
815,090
CREDITORS: amounts falling due within one year
8
( 156,931)
( 92,081)
---------
---------
NET CURRENT ASSETS
782,224
723,009
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
824,167
750,667
PROVISIONS
( 5,181)
( 8,154)
---------
---------
NET ASSETS
818,986
742,513
---------
---------
CAPITAL AND RESERVES
Called up share capital
25,000
25,000
Profit and loss account
793,986
717,513
---------
---------
SHAREHOLDERS FUNDS
818,986
742,513
---------
---------
These financial statements have been prepared 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'.
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 .
These financial statements were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
Mr M Prescott
Director
Company registration number: 04647691
ENVIROSAVERS 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 Unit 46, Enterprise Way, Newport, NP20 2AQ.
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.
Turnover
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.
Taxation
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
33.33% on cost
Motor vehicles
-
33.33% on cost
Office equipment
-
33.33% on cost
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 10 (2023: 10 ).
5. PROFIT BEFORE TAXATION
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
19,714
15,437
--------
--------
6. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 February 2023
29,321
61,550
451
91,322
Additions
20,000
14,000
34,000
Disposals
( 10,850)
( 15,235)
( 451)
( 26,536)
--------
--------
----
--------
At 31 January 2024
38,471
60,315
98,786
--------
--------
----
--------
Depreciation
At 1 February 2023
29,321
33,892
451
63,664
Charge for the year
19,714
19,714
Disposals
( 10,850)
( 15,234)
( 451)
( 26,535)
--------
--------
----
--------
At 31 January 2024
18,471
38,372
56,843
--------
--------
----
--------
Carrying amount
At 31 January 2024
20,000
21,943
41,943
--------
--------
----
--------
At 31 January 2023
27,658
27,658
--------
--------
----
--------
7. DEBTORS
2024
2023
£
£
Trade debtors
205,611
273,971
Other debtors
13,574
1,401
---------
---------
219,185
275,372
---------
---------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
92,040
57,903
Corporation tax
58,471
Social security and other taxes
25,935
Other creditors
6,420
8,243
---------
--------
156,931
92,081
---------
--------
ENVIROSAVERS LIMITED
MANAGEMENT INFORMATION
Year ended 31 January 2024
The following pages do not form part of the financial statements.
ENVIROSAVERS LIMITED
DETAILED PROFIT AND LOSS ACCOUNT
Year ended 31 January 2024
2024
2023
Variance
£
£
£
%
TURNOVER
Sales
1,405,346
1,027,372
377,974
36.79
------------
------------
---------
-------
COST OF SALES
Purchases
72,295
65,933
6,362
9.65
Analytical
54,824
45,351
9,473
20.89
Direct vehicle expenses
44,856
50,794
(5,938)
(11.69)
Site safety and training
7,111
7,142
(31)
(0.43)
Waste disposal
180,657
98,929
81,728
82.61
Wages and salaries
249,507
262,898
(13,391)
(5.09)
Pension costs - defined contribution
20,447
20,533
(86)
(0.42)
Subcontractor costs
160,713
79,620
81,093
101.85
Hire costs
89,981
78,985
10,996
13.92
---------
---------
---------
--------
880,391
710,185
170,206
23.97
---------
---------
---------
--------
GROSS PROFIT
524,955
317,187
207,768
65.50
---------
---------
---------
-------
GROSS PROFIT PERCENTAGE
37.35%
30.87%
-------
-------
ADMINISTRATIVE EXPENSES
Rent and rates
6,687
6,576
111
1.69
Light and heat
3,005
1,642
1,363
83.01
Insurance
38,567
33,826
4,741
14.02
Wages and salaries
27,895
26,457
1,438
5.44
Motor expenses
15,300
15,300
Travel and subsistence
6,275
8,107
(1,832)
(22.60)
Telephone
8,684
7,896
788
9.98
Office expenses
180
6,292
(6,112)
(97.14)
Printing postage and stationery
3,755
3,490
265
7.59
Sundry expenses
163
163
Healthcare
3,590
3,086
504
16.33
Subscriptions
7,967
3,543
4,424
124.87
Donations
85
85
Advertising
7,000
1,200
5,800
483.33
Entertaining
1,226
606
620
102.31
Bad debts written off
(12)
(41)
29
(70.73)
Bank charges
363
313
50
15.97
Legal and professional fees
12,105
15,188
(3,083)
(20.30)
Accountancy fees
2,029
1,240
789
63.63
Directors salaries
103,253
102,923
330
0.32
Directors pension costs - other
2,400
2,400
Depreciation of tangible assets
19,714
15,437
4,277
27.71
(Gain)/loss on disposal of tangible assets
(1,625)
(2,500)
875
(35.00)
---------
---------
--------
--------
268,606
252,981
15,625
6.18
---------
---------
--------
--------
FINANCE INCOME
Interest on cash and cash equivalents
622
622
----
----
----
----
FINANCE COSTS
Other interest payable and similar charges
52
(52)
(100.00)
----
----
----
--------
PROFIT BEFORE TAXATION
256,971
64,154
192,817
300.55
---------
--------
---------
--------
PROFIT BEFORE TAXATION PERCENTAGE
18.29%
6.24%
-------
-----
TAXATION ON ORDINARY ACTIVITIES
Corporation tax charge
58,471
15,274
43,197
282.81
Deferred tax
(2,973)
(2,973)
--------
--------
--------
--------
55,498
15,274
40,224
263.35
--------
--------
--------
--------
PROFIT AFTER TAXATION
201,473
48,880
152,593
312.18
---------
--------
---------
--------
PROFIT AFTER TAXATION PERCENTAGE
14.34%
4.76%
-------
-----