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Registration number: 06089264

Enviro Skip Hire Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Enviro Skip Hire Ltd

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Enviro Skip Hire Ltd

(Registration number: 06089264)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,386,004

3,314,318

Current assets

 

Stocks

6

13,721

13,721

Debtors

7

3,619,505

4,036,206

Cash at bank and in hand

 

645,330

569,797

 

4,278,556

4,619,724

Creditors: Amounts falling due within one year

8

(3,048,250)

(3,775,299)

Net current assets

 

1,230,306

844,425

Total assets less current liabilities

 

4,616,310

4,158,743

Creditors: Amounts falling due after more than one year

8

(703,513)

(1,000,127)

Provisions for liabilities

(717,141)

(696,174)

Net assets

 

3,195,656

2,462,442

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,195,556

2,462,342

Shareholders' funds

 

3,195,656

2,462,442

For the financial year ending 30 April 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 28 February 2025
 

 

Enviro Skip Hire Ltd

(Registration number: 06089264)
Balance Sheet as at 30 April 2024

.........................................
Mr DN Beecroft
Director

 

Enviro Skip Hire Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Norton Way
Sandbach
Cheshire
CW11 3WL
UK

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Judgements and estimates

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 revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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.

 

Enviro Skip Hire Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises deferred tax.

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.

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.

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.

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

Furniture, fittings and equipment

20% on reducing balance

Plant & machinery

15% on reducing balance

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

Goodwill

10 years

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.

 

Enviro Skip Hire Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

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.

Financial instruments

Classification
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets are classified into specified categories. The classification depends on the nature and purpose of the financial assets and is determined at the time of recognition.

Basic Financial Assets
Basic financial assets which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of Financial Liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade payables and 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 46 (2023 - 48).

 

Enviro Skip Hire Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

200,000

200,000

At 30 April 2024

200,000

200,000

Amortisation

At 1 May 2023

200,000

200,000

At 30 April 2024

200,000

200,000

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Plant & machinery
£

Total
£

Cost or valuation

At 1 May 2023

3,112

4,838,846

4,841,958

Additions

-

655,529

655,529

Disposals

-

(60,940)

(60,940)

At 30 April 2024

3,112

5,433,435

5,436,547

Depreciation

At 1 May 2023

1,238

1,526,402

1,527,640

Charge for the year

375

524,250

524,625

Eliminated on disposal

-

(1,722)

(1,722)

At 30 April 2024

1,613

2,048,930

2,050,543

Carrying amount

At 30 April 2024

1,499

3,384,505

3,386,004

At 30 April 2023

1,874

3,312,444

3,314,318

Plant and machinery with a carrying value of £2,725,939 (2023: £2,855,075) are held under finance leases.

 

Enviro Skip Hire Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

6

Stocks

2024
£

2023
£

Other inventories

13,721

13,721

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

1,353,037

1,356,349

Amounts owed by related parties

2,101,326

2,432,578

Prepayments

 

159,870

189,322

Other debtors

 

5,272

57,957

   

3,619,505

4,036,206

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

720,386

951,177

Trade creditors

 

563,475

650,266

Amounts owed to group undertakings and undertakings in which the company has a participating interest

719,290

1,115,502

Taxation and social security

 

313,586

244,382

Accruals and deferred income

 

86,148

80,082

Other creditors

 

645,365

733,890

 

3,048,250

3,775,299

 

Enviro Skip Hire Ltd

Notes to the Financial Statements for the Year Ended 30 April 2024

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

249,997

450,000

Hire purchase contracts

453,516

550,127

703,513

1,000,127

2024
£

2023
£

Current loans and borrowings

Bank borrowings

200,000

200,000

Hire purchase contracts

520,386

751,177

720,386

951,177

Included in bank borrowings is £449,997 (2023: £650,000) in relation to a loan which was secured by a fixed charge on 10 June 2020 over all land & buildings and plant & machinery associated with the owners.

Included within other creditors is £638,047 (2023: £721,187) in relation to an invoice discounting facility which is secured by a floating charge 01 September 2014 over the companies debtors and property of the company.

Hire purchase contracts are secured against the assets to which they relate, the carrying value of these assets has been detailed within the note to tangible assets.

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

-

4,298

11

Parent and ultimate parent undertaking

The company's immediate parent company is Enviro Skip Hire Group Limited, a company incorporated in England and Wales.

The controlling party is the shareholders of Enviro Skip Hire Group Limited.