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ENVIROGREEN POLYMERS LIMITED

Registered Number
NI612875
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 May 2024

ENVIROGREEN POLYMERS LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

GUY, Brendan
GUY, Conor

Registered Address

121 Camlough Road
Carrickbracken Business Park
Newry
BT35 7JR

Registered Number

NI612875 (Northern Ireland)
ENVIROGREEN POLYMERS LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3728,329511,630
Investments41,895,666-
2,623,995511,630
Current assets
Stocks5395,524236,462
Debtors1,157,4861,292,317
Cash at bank and on hand1,326,0692,035,574
2,879,0793,564,353
Creditors amounts falling due within one year6(1,915,335)(1,928,846)
Net current assets (liabilities)963,7441,635,507
Total assets less current liabilities3,587,7392,147,137
Creditors amounts falling due after one year7(1,624,038)(175,480)
Net assets1,963,7011,971,657
Capital and reserves
Called up share capital100100
Profit and loss account1,963,6011,971,557
Shareholders' funds1,963,7011,971,657
The financial statements were approved and authorised for issue by the Board of Directors on 11 March 2025, and are signed on its behalf by:
GUY, Conor
Director
Registered Company No. NI612875
ENVIROGREEN POLYMERS LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings15
Vehicles25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year106105
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 23714,34848,54717,969780,864
Additions143,959166,0001,385311,344
At 31 May 24858,307214,54719,3541,092,208
Depreciation and impairment
At 01 June 23224,82136,7817,632269,234
Charge for year83,1109,8581,67794,645
At 31 May 24307,93146,6399,309363,879
Net book value
At 31 May 24550,376167,90810,045728,329
At 31 May 23489,52711,76610,337511,630
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
Additions1,895,6661,895,666
At 31 May 241,895,6661,895,666
Net book value
At 31 May 241,895,6661,895,666
At 31 May 23--

Notes

1Investments in group undertakings and participating interests
5.Stocks

2024

2023

££
Raw materials and consumables395,524236,462
Total395,524236,462
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,275,4541,297,094
Bank borrowings and overdrafts56,26541,841
Amounts owed to related parties241,678234,388
Taxation and social security197,252238,763
Finance lease and HP contracts106,05062,989
Other creditors27,63643,271
Accrued liabilities and deferred income11,00010,500
Total1,915,3351,928,846
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,320,878-
Other creditors303,160175,480
Total1,624,038175,480
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts303,160175,480