REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 02710263) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 02710263) |
BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Retained earnings |
Shareholders' funds |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 02710263) |
BALANCE SHEET - continued |
30 APRIL 2024 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 02710263) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | Statutory information |
Guardian Environmental Services Limited is a private company, limited by shares, registered in England and Wales. The registered office is Guardian House, 117 Clophill Road, Maulden, Bedfordshire MK45 2AE. |
These 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 £. |
2. | Accounting policies |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. |
Revenue |
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Revenue from the provision of services is recognised by reference to the stage of completion, where the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is measured by reference to costs incurred to date as a percentage of total estimated costs. Where the outcome cannot be measured reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable. |
Goodwill |
Acquired goodwill is written off in equal annual instalments over its estimated useful life. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 02710263) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | Accounting policies - continued |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation less accumulated depreciation and accumulated impairment losses. |
Depreciation is recognised so as to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life as follows: |
Plant and machinery - 20% pa reducing balance |
Fixtures, fittings and equipment - 20% pa reducing balance |
Motor vehicles - 25% pa reducing balance or 20% pa straight line |
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 the profit or loss. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. |
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
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. |
Cash and cash equivalents |
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held on call with banks, other short term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Financial instruments |
The company only has financial assets and financial liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 02710263) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | Accounting policies - continued |
Taxation |
The tax expense for the year comprises the sum of 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 the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax liabilities are generally recognised in respect of 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. |
Leases and hire purchase commitments |
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 as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to income on a straight line basis over of the lease contract. |
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another, more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed. |
Pension costs and other post-retirement benefits |
Payments to defined contribution retirement benefit schemes are charged to profit or loss in the period to which they relate. |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 02710263) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | Accounting policies - continued |
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 cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Intangible fixed assets |
Goodwill |
£ |
Cost |
At 1 May 2023 |
and 30 April 2024 |
Amortisation |
At 1 May 2023 |
and 30 April 2024 |
Net book value |
At 30 April 2024 |
At 30 April 2023 |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 02710263) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
5. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 May 2023 |
Additions |
Disposals | ( |
) |
At 30 April 2024 |
Depreciation |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2024 |
Net book value |
At 30 April 2024 |
At 30 April 2023 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
GUARDIAN ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 02710263) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
7. | Creditors: amounts falling due within one year - continued |
Net obligations under finance leases and hire purchase contracts are secured by charges over the assets concerned. |
8. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
Net obligations under finance leases and hire purchase contracts are secured by charges over the assets concerned. |
9. | Leasing commitments |
The company's future minimum operating lease payments amount to £4,725 (2023 £4,725). |
10. | Related party disclosures |
The company has taken advantage of exemption available under the terms of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" not to disclose related party transactions with wholly owned subsidiaries within the group. |
11. | Parent undertaking |
The controlling party is S R Thurstans. |
The company's ultimate parent undertaking is Guardian Environmental Group Limited, a company registered in England and Wales. The registered office and principal place of business of Guardian Environmental Group Limited is Guardian House, 117 Clophill Road, Maulden, Bedfordshire MK45 2AE. |