Company registration number 07422421 (England and Wales)
ECOLUTION ENERGY SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
ECOLUTION ENERGY SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ECOLUTION ENERGY SERVICES LIMITED (REGISTERED NUMBER: 07422421)
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
27,562
48,435
Current assets
Debtors
5
1,742,349
895,191
Cash at bank and in hand
429,689
466,172
2,172,038
1,361,363
Creditors: amounts falling due within one year
6
(60,227)
(27,003)
Net current assets
2,111,811
1,334,360
Total assets less current liabilities
2,139,373
1,382,795
Provisions for liabilities
(4,756)
(6,990)
Net assets
2,134,617
1,375,805
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
2,134,616
1,375,804
Total equity
2,134,617
1,375,805
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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.
The financial statements were approved by the board of directors and authorised for issue on 14 November 2024 and are signed on its behalf by:
K D Knapp
Director
ECOLUTION ENERGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Ecolution Energy Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, United Kingdom, ME19 6JU.
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 £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the group will continue in operational existence for the foreseeable future.true
1.3
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide maintenance, repairs and monitoring services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract or purchase order, when all of the following conditions are satisfied:
the amount of turnover can be measured reliably
it is probably that the company will received the consideration due under the contract
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
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:
Leasehold improvements
8 years straight line
Plant and machinery
8 years straight line
Computer equipment
8 years straight line
Motor vehicles
8 years straight line
ECOLUTION ENERGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
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
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.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
ECOLUTION ENERGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
2
Judgements and key sources of estimation uncertainty
(Continued)
- 4 -
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Depreciation
Depreciation is provided for on tangible fixed assets at the rates shown in accounting policies.
Work in progress
Work in progress is calculated as a percentage of materials leaving the warehouse in the last week of the financial year for ongoing projects which are unbilled at the year end.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
21
20
4
Tangible fixed assets
Leasehold improvements
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2023
45,232
19,887
54,894
92,198
212,211
Disposals
(63,612)
(63,612)
At 30 June 2024
45,232
19,887
54,894
28,586
148,599
Depreciation and impairment
At 1 July 2023
30,056
8,887
48,200
76,633
163,776
Depreciation charged in the year
4,564
2,104
2,290
3,542
12,500
Eliminated in respect of disposals
(55,239)
(55,239)
At 30 June 2024
34,620
10,991
50,490
24,936
121,037
Carrying amount
At 30 June 2024
10,612
8,896
4,404
3,650
27,562
At 30 June 2023
15,176
11,000
6,694
15,565
48,435
ECOLUTION ENERGY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
65,804
66,039
Amounts owed by group undertakings
1,587,819
712,369
Other debtors
88,726
116,783
1,742,349
895,191
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
674
8,026
Taxation and social security
54,382
10,353
Other creditors
5,171
8,624
60,227
27,003
7
Financial commitments, guarantees and contingent liabilities
The company has entered into a cross guarantee arrangement with one of its bankers in relation to its parent company, Ecolution Group Limited, and fellow subsidiaries Ecolution Products Limited and Ecolution Energy Technologies Limited.
Loans and overdrafts are secured by fixed and floating charges over the company's assets both present and future.
A separate arrangement has been entered in to with these bankers which is also secured by fixed and floating charges over the company's assets both present and future.
A further separate arrangement has been entered in to with another one of its bankers which is also secured by fixed and floating charges over the company's assets both present and future.
8
Related party transactions
The truecompany has taken advantage of the exemption within FRS 102 from the requirement to disclose transactions entered into between two or more members of a group provided that any subsidiary which is party to the transaction is wholly owned by such a member.
9
Parent company
The immediate and ultimate parent company of Ecolution Energy Services Limited is Ecolution Group Limited and its registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.