Registered number
03220755
Environmental Process Systems Ltd
Accounts
For the year ended 31 December 2024
delivered to the Registrar of Companies under section 444 of the Companies Act 2006
Environmental Process Systems Ltd
Registered number: 03220755
Balance Sheet
As at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 3,204 128,997
Current assets
Stocks 47,008 112,578
Debtors 5 631,327 257,403
Cash at bank 80,557 132,002
758,892 501,983
Creditors: amounts falling due within one year 6 (475,536) (401,268)
Net current assets 283,356 100,715
Net assets 286,560 229,712
Capital and reserves
Share capital 7 100 100
Retained earnings 286,460 229,612
Shareholder's funds 286,560 229,712
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The company has taken the option not to deliver a profit and loss account to the Registrar of Companies.
Zafer M Ure
Director
Approved by the board on 25 March 2025
Environmental Process Systems Ltd
Notes to the Accounts
For the year ended 31 December 2024
1 Company information
The company is a private company limited by shares, incorporated in England and registered at 32 Mere View Industrial Estate, Yaxley, Peterborough, PE7 3HS.
2 Accounting policies
2.1 Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the Standard).
2.2 Going concern
The accounts have been prepared on the going concern basis. Based on a review of the company's forecasts for the following 2 years and the availability of financial resources the directors consider that the company will continue to be able to meet its liabilities as they fall due for at least 12 months from the date of their approval of these accounts.
2.3 Functional and presentation currency
The company's functional and presentation currency is Pound sterling ("£").
2.4 Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services including grant income. Turnover from the sale of goods is recognised at the point of sale. Turnover from the rendering of services is recognised on completion of the service.
2.5 Tangible assets
Tangible assets in the categories of equipment and vehicles are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on the tangible assets in the categories of equipment and vehicles at rates calculated to write off the cost less estimated residual value of each asset evenly over its expected useful life, as follows:
Equipment over 4 years
Vehicles over 4 years
Tangible assets in the category of freehold land and buildings are meaured initially at cost and subsequently using the revaluation model. Under the revaluation model, tangible assets in the category of land and buildings are measured at their fair value at the date of revaluation, less any subsequent accumulated depreciation and impairment. Fair value is ascertained by an open market valuation on freehold basis, conducted annually by the directors.
2.6 Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out method. Provision is made for damaged, obsolete and slow-moving stock where appropriate. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2.7 Debtors
Short term debtors are measured at transaction price less any impairment losses for bad and doubtful debts. Longer term loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.8 Creditors
Short term creditors are measured at transaction price. Longer term 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.
2.9 Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the accounts and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
2.10 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 the profit and loss account unless the asset is carried at a revalued amount, in which case the impairment loss is a revaluation decrease.
2.11 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.
2.12 Pension contributions
Contributions to defined contribution plans are expensed in the period to which they relate.
3 Employees 2024 2023
Number Number
Average number of persons employed 5 5
4 Tangible assets
Land and buildings Equipment Vehicles Total
£ £ £ £
Cost
At 1 January 2024 121,755 94,390 18,495 234,640
Additions - 1,263 - 1,263
Disposals (121,755) - - (121,755)
At 31 December 2024 - 95,653 18,495 114,148
Depreciation
At 1 January 2024 - 88,948 16,695 105,643
Charge for the year - 3,501 1,800 5,301
At 31 December 2024 - 92,449 18,495 110,944
Net book value
At 31 December 2024 - 3,204 - 3,204
At 31 December 2023 121,755 5,442 1,800 128,997
Freehold land and buildings: 2024 2023
£ £
Historical cost - 121,755
Cumulative depreciation based on historical cost - -
- 121,755
5 Debtors 2024 2023
£ £
Trade debtors 516,450 192,091
Amounts owed by group undertakings 107,912 56,299
Other debtors 6,965 9,013
631,327 257,403
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 27,178 24,474
Amounts owed to group undertakings 100,000 -
Taxation and social security 55,007 28,992
Other creditors 293,351 347,802
475,536 401,268
7 Share capital 2024 2023
£ £
Allotted, called up and fully paid:
100 Ordinary shares of £1 each 100 100
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