4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 04209146 2023-06-01 2024-05-31 04209146 2024-05-31 04209146 2023-05-31 04209146 2022-06-01 2023-05-31 04209146 2023-05-31 04209146 2022-05-31 04209146 core:PlantMachinery 2023-06-01 2024-05-31 04209146 core:FurnitureFittings 2023-06-01 2024-05-31 04209146 core:MotorVehicles 2023-06-01 2024-05-31 04209146 bus:LeadAgentIfApplicable 2023-06-01 2024-05-31 04209146 bus:Director1 2023-06-01 2024-05-31 04209146 core:PlantMachinery 2023-05-31 04209146 core:FurnitureFittings 2023-05-31 04209146 core:MotorVehicles 2023-05-31 04209146 core:PlantMachinery 2024-05-31 04209146 core:FurnitureFittings 2024-05-31 04209146 core:MotorVehicles 2024-05-31 04209146 core:WithinOneYear 2024-05-31 04209146 core:WithinOneYear 2023-05-31 04209146 core:ShareCapital 2024-05-31 04209146 core:ShareCapital 2023-05-31 04209146 core:RetainedEarningsAccumulatedLosses 2024-05-31 04209146 core:RetainedEarningsAccumulatedLosses 2023-05-31 04209146 core:PlantMachinery 2023-05-31 04209146 core:FurnitureFittings 2023-05-31 04209146 core:MotorVehicles 2023-05-31 04209146 bus:SmallEntities 2023-06-01 2024-05-31 04209146 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04209146 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04209146 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04209146 bus:FullAccounts 2023-06-01 2024-05-31 04209146 core:ComputerEquipment 2023-06-01 2024-05-31 04209146 core:ComputerEquipment 2023-05-31 04209146 core:ComputerEquipment 2024-05-31
COMPANY REGISTRATION NUMBER: 04209146
Environmental Drainage Solutions Limited
Filleted Unaudited Financial Statements
31 May 2024
Environmental Drainage Solutions Limited
Financial Statements
Year ended 31 May 2024
Contents
Pages
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
Environmental Drainage Solutions Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Environmental Drainage Solutions Limited
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Environmental Drainage Solutions Limited for the year ended 31 May 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Environmental Drainage Solutions Limited in accordance with the terms of our engagement letter dated 6 September 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Environmental Drainage Solutions Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Environmental Drainage Solutions Limited and its director for our work or for this report.
It is your duty to ensure that Environmental Drainage Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Environmental Drainage Solutions Limited. You consider that Environmental Drainage Solutions Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Environmental Drainage Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
7 April 2025
Environmental Drainage Solutions Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
18,679
24,390
Current assets
Stocks
14,963
Debtors
6
39,283
41,916
Cash at bank and in hand
17,109
20,801
--------
--------
71,355
62,717
Creditors: amounts falling due within one year
7
110,381
113,300
---------
---------
Net current liabilities
39,026
50,583
--------
--------
Total assets less current liabilities
( 20,347)
( 26,193)
Provisions
Taxation including deferred tax
3,647
3,500
--------
--------
Net liabilities
( 23,994)
( 29,693)
--------
--------
Environmental Drainage Solutions Limited
Statement of Financial Position (continued)
31 May 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 24,094)
( 29,793)
--------
--------
Shareholders deficit
( 23,994)
( 29,693)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 April 2025 , and are signed on behalf of the board by:
Mr E A Cox
Director
Company registration number: 04209146
Environmental Drainage Solutions Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Liberty Steel Mills, Sheffield Road, Rotherham, South Yorkshire, S60 1BN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the year end date, the statement of financial position portrays a net negative scenario. Despite this, the accounts have been drawn up on a going concern basis, which, in the view of the directors, remains appropriate, given the extent of funding provided to the company by means of unsecured director loan accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Equipment
-
15% reducing balance
Fixtures & Fittings
-
15% reducing balance
Commercial Vehicles
-
25% reducing balance
Computer Equipment
-
33% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 6 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
Cost
At 1 June 2023
77,525
9,045
62,835
10,423
159,828
Disposals
( 22,780)
( 22,780)
--------
-------
--------
--------
---------
At 31 May 2024
77,525
9,045
40,055
10,423
137,048
--------
-------
--------
--------
---------
Depreciation
At 1 June 2023
67,444
8,748
49,041
10,205
135,438
Charge for the year
1,512
45
3,237
72
4,866
Disposals
( 21,935)
( 21,935)
--------
-------
--------
--------
---------
At 31 May 2024
68,956
8,793
30,343
10,277
118,369
--------
-------
--------
--------
---------
Carrying amount
At 31 May 2024
8,569
252
9,712
146
18,679
--------
-------
--------
--------
---------
At 31 May 2023
10,081
297
13,794
218
24,390
--------
-------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
39,283
41,916
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
967
Corporation tax
1,435
Social security and other taxes
25,134
33,682
Other creditors
83,812
78,651
---------
---------
110,381
113,300
---------
---------
8. Director's advances, credits and guarantees
Included in other creditors is a loan from one of the directors, Mr E A Cox , in the sum of £64,290 (2023: £40,904). The movement during the year resulted from funds introduced of £23,386. There are no formal terms associated with this loan and interest is not being charged. Included in other creditors is a loan from one of the directors, Mr M J Houlden, in the sum of £nil (2023: £23,068). The movement during the year resulted from funds introduced of £932, as against monies repaid of £24,000. There are no formal terms associated with this loan and interest is not being charged.