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Registered number: 13232662














ENVIRONMENTAL TRACING LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

 
ENVIRONMENTAL TRACING LTD
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
ENVIRONMENTAL TRACING LTD
REGISTERED NUMBER:13232662

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
869,959
915,267

Current assets
  

Stocks
  
44,494
44,494

Debtors: amounts falling due within one year
 5 
13,545
9,348

  
58,039
53,842

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(1,050,038)
(927,485)

Net current liabilities
  
 
 
(991,999)
 
 
(873,643)

  

Net (liabilities)/assets
  
(122,040)
41,624


Capital and reserves
  

Called up share capital 
 7 
4
4

Profit and loss account
  
(122,044)
41,620

  
(122,040)
41,624


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 January 2025.



J K Marsh
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
ENVIRONMENTAL TRACING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Environmental Tracing is a limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, United Kingdom, WD6 1JD.
The principal activity of the Company during the year was that of environmental consulting services. 
 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The Company made a loss for the year and at the balance sheet date has net current liabilities and net liabilities. Assurance has been obtained from the director and shareholder that funds will be made available to the Company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis.

 
2.3

Turnover

Turnover is measured at the fair value of amounts receivable in respect of services provided in the year, net of trade discounts and excluding Value Added Tax. The Company recognises revenue from services is recognised when all contractual obligations have been met.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Page 2

 
ENVIRONMENTAL TRACING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Office equipment
-
25%
Computer equipment
-
25%
Other fixed assets
-
over 25 years straight-line

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 3

 
ENVIRONMENTAL TRACING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery
Office equipment
Computer equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 March 2023
124,675
1,187
27,157
871,592
1,024,611


Additions
14,449
1,519
-
-
15,968



At 29 February 2024

139,124
2,706
27,157
871,592
1,040,579



Depreciation


At 1 March 2023
37,160
934
11,709
59,541
109,344


Charge for the year on owned assets
19,701
645
6,066
34,864
61,276



At 29 February 2024

56,861
1,579
17,775
94,405
170,620



Net book value



At 29 February 2024
82,263
1,127
9,382
777,187
869,959



At 28 February 2023
87,515
253
15,448
812,051
915,267


5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
9,622
-

Other debtors
1,435
5,822

Prepayments and accrued income
2,488
3,526

13,545
9,348


Page 4

 
ENVIRONMENTAL TRACING LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
43,903
16,213

Other taxation and social security
24,246
47,823

Other creditors
981,609
847,449

Accruals and deferred income
280
16,000

1,050,038
927,485



7.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1
1 (2023 - 1) Ordinary A share of £1.00
1
1
1 (2023 - 1) Ordinary B share of £1.00
1
1
1 (2023 - 1) Ordinary C share of £1.00
1
1

4

4



8.


Commitments under operating leases

At 29 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

29 February
28 February
2024
2023
£
£


Not later than 1 year
26,520
26,520

Later than 1 year and not later than 5 years
54,929
81,449

81,449
107,969

 
Page 5