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Registration number: 09976518

Ecovia Build Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Ecovia Build Limited
Company Registration Number: 09976518

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Ecovia Build Limited
Company Registration Number: 09976518

Company Information

Director

Mr Justin Hyer

Registered office

226 Battersea Park Road
London
SW11 4ND


 

 

Ecovia Build Limited
Company Registration Number: 09976518

Balance Sheet as at 31 January 2024

Note

31 January
2024
£

31 January
2023
£

Fixed assets

 

Intangible assets

5

955

955

Tangible assets

6

323,566

362,980

 

324,521

363,935

Current assets

 

Debtors

7

351,223

65,464

Cash at bank and in hand

 

224,780

26,978

 

576,003

92,442

Creditors: Amounts falling due within one year

8

(710,513)

(152,092)

Net current liabilities

 

(134,510)

(59,650)

Total assets less current liabilities

 

190,011

304,285

Creditors: Amounts falling due after more than one year

8

(247,228)

(315,388)

Provisions for liabilities

(9,045)

(4,277)

Net liabilities

 

(66,262)

(15,380)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(66,362)

(15,480)

Shareholders' deficit

 

(66,262)

(15,380)

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 3 April 2024
 

 

Ecovia Build Limited
Company Registration Number: 09976518

Balance Sheet as at 31 January 2024

.........................................
Mr Justin Hyer
Director

 

Ecovia Build Limited
Company Registration Number: 09976518

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
226 Battersea Park Road
London
SW11 4ND

These financial statements were authorised for issue by the director on 3 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Ecovia Build Limited
Company Registration Number: 09976518

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Motor Vehicles

25% reducing balance

Leasehold Improvements

10% reducing balance

Intangible assets

Intangible assets are recognised at cost.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Domain names

No foreseeable limit to the period over which the asset is expected to generate net cash inflows for the entity.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Ecovia Build Limited
Company Registration Number: 09976518

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Ecovia Build Limited
Company Registration Number: 09976518

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2

Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 3).

4

Loss before tax

Arrived at after charging/(crediting)

31 January
2024
£

31 January
2023
£

Depreciation expense

45,766

53,781

 

Ecovia Build Limited
Company Registration Number: 09976518

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 February 2023

955

955

At 31 January 2024

955

955

Amortisation

Carrying amount

At 31 January 2024

955

955

At 31 January 2023

955

955

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

357,555

29,596

65,071

452,222

Additions

-

6,352

-

6,352

At 31 January 2024

357,555

35,948

65,071

458,574

Depreciation

At 1 February 2023

35,756

13,444

40,042

89,242

Charge for the year

35,756

3,753

6,257

45,766

At 31 January 2024

71,512

17,197

46,299

135,008

Carrying amount

At 31 January 2024

286,043

18,751

18,772

323,566

At 31 January 2023

321,799

16,152

25,029

362,980

 

Ecovia Build Limited
Company Registration Number: 09976518

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Tangible assets (continued)

Included within the net book value of land and buildings above is £286,043 (2023 - £321,799) in respect of long leasehold land and buildings.
 

7

Debtors

Current

31 January
2024
£

31 January
2023
£

Trade debtors

333,584

65,464

Other debtors

17,639

-

 

351,223

65,464

 

Ecovia Build Limited
Company Registration Number: 09976518

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

8

Creditors

Creditors: amounts falling due within one year

Note

31 January
2024
£

31 January
2023
£

Due within one year

 

Bank borrowings

 

38,997

62,080

HP and finance lease liabilities

 

8,033

15,994

Trade payables

 

544,973

33,291

Taxation and social security

 

115,624

27,934

Other creditors

11

2,886

12,793

 

710,513

152,092

Creditors: amounts falling due after more than one year

31 January
2024
£

31 January
2023
£

Due after one year

Other borrowings

247,228

315,388

9

Share capital

Allotted, called up and fully paid shares

31 January
2024

31 January
2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

 

Ecovia Build Limited
Company Registration Number: 09976518

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

10

Loans and borrowings (continued)

31 January
2024
£

31 January
2023
£

Other borrowings

247,228

315,388

Current loans and borrowings

31 January
2024
£

31 January
2023
£

Bank borrowings

38,997

46,598

Finance lease liabilities

8,033

15,994

Other borrowings

-

15,482

47,030

78,074

11

Related party transactions

On 31 January 2024, the company owed £247,228 ( 2023: £315,388) to the director of the company. The amount advanced by the director was £90,510 (2023: £51,100) and the amount repaid was £22,350 (2023: £43,819).