REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 March 2024 |
for |
Enviroparks Bond Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 March 2024 |
for |
Enviroparks Bond Limited |
Enviroparks Bond Limited (Registered number: 08753318) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Enviroparks Bond Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
First Floor |
1 St John's Court |
Upper Fforest Way |
Enterprise Park |
Swansea |
SA6 8QQ |
Enviroparks Bond Limited (Registered number: 08753318) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Enviroparks Bond Limited (Registered number: 08753318) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Enviroparks Bond Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 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. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Enviroparks Bond Limited (Registered number: 08753318) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Loans | 12,988,486 | 12,328,221 |
The loan is secured by means of a fixed and floating charge over the company's assets. |
8. | GOING CONCERN |
These accounts have been prepared under the going concern basis. The company has the support of other companies within the Enviroparks group. The Enviroparks group has provided security for the loans to the company by way of a charge on a property owned by a wholly owned subsidiary, Enviroparks (Hirwaun Properties) Limited. The Enviroparks group required refinancing in August 2024 to enable the debts of the company to be repaid and to continue trading until its waste processing facility becomes operational. The Enviroparks group have entered into a series of corporate actions to extend the re finance date to 30 November 2025, six resolutions under the corporate action are required and at the date of signing the financial statements five of the resolutions have been passed with the final meeting due to be held on 31 March 2025. The Enviroparks group are currently in discussions with various parties regarding refinance packages. The directors are confident that refinancing will be obtained before the bonds fall due for payment. However as at the date of approving the financial statement no refinance package has been agreed. If the accounts were not prepared on a going concern basis but instead on the break up basis then fixed assets would be recognised as current assets and long term liabilities would be recognised as current liabilities. As a result it is likely that the net recoverable amount of assets would be significantly less than reflected in the financial statements. |
Enviroparks Bond Limited (Registered number: 08753318) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Zeus Renewables Ltd |