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REGISTERED NUMBER: NI027714 (Northern Ireland)












Environmental Fabrications Limited

Unaudited Financial Statements for the Year Ended 31 August 2024






Environmental Fabrications Limited (Registered number: NI027714)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Balance sheet 1

Notes to the financial statements 3


Environmental Fabrications Limited (Registered number: NI027714)

Balance Sheet
31 August 2024

2024 2023
Notes £    £   
Fixed assets
Intangible assets 4 5,413 7,217
Tangible assets 5 712,753 715,425
718,166 722,642

Current assets
Stocks 6 107,500 142,500
Debtors 7 2,056,404 2,182,107
Investments 8 33 33
Cash at bank and in hand 291,602 33,604
2,455,539 2,358,244
Creditors
Amounts falling due within one year 9 (1,471,876 ) (1,379,908 )
Net current assets 983,663 978,336
Total assets less current liabilities 1,701,829 1,700,978

Creditors
Amounts falling due after more than one
year

10

(12,240

)

(21,357

)

Provisions for liabilities 13 (42,248 ) (41,477 )
Net assets 1,647,341 1,638,144

Capital and reserves
Called up share capital 14 22,000 22,000
Retained earnings 1,625,341 1,616,144
Shareholders' funds 1,647,341 1,638,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Environmental Fabrications Limited (Registered number: NI027714)

Balance Sheet - continued
31 August 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





Mr. W J Donaldson - Director


Environmental Fabrications Limited (Registered number: NI027714)

Notes to the Financial Statements
for the year ended 31 August 2024

1. Statutory information

Environmental Fabrications Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number: NI027714

Registered office: 17 Mound Road
Dromore
Co. Down
BT25 1DL

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% Reducing balance
Fixtures and fittings - 20% Reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Environmental Fabrications Limited (Registered number: NI027714)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legal enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless 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. Financial assets classified as receivable within one year are not amortised.

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
Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


Environmental Fabrications Limited (Registered number: NI027714)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. Accounting policies - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Environmental Fabrications Limited (Registered number: NI027714)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. Accounting policies - continued

Trade creditors
Trade creditors are 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. Employees and directors

The average number of employees during the year was NIL (2023 - 32 ).

4. Intangible fixed assets
Computer
software
£   
Cost
At 1 September 2023
and 31 August 2024 43,961
Amortisation
At 1 September 2023 36,744
Amortisation for year 1,804
At 31 August 2024 38,548
Net book value
At 31 August 2024 5,413
At 31 August 2023 7,217

Environmental Fabrications Limited (Registered number: NI027714)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

5. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 September 2023 471,110 1,104,780 91,101 305,572 1,972,563
Additions 30,000 17,546 1,470 - 49,016
At 31 August 2024 501,110 1,122,326 92,571 305,572 2,021,579
Depreciation
At 1 September 2023 - 925,588 73,380 258,170 1,257,138
Charge for year - 37,076 2,761 11,851 51,688
At 31 August 2024 - 962,664 76,141 270,021 1,308,826
Net book value
At 31 August 2024 501,110 159,662 16,430 35,551 712,753
At 31 August 2023 471,110 179,192 17,721 47,402 715,425

6. Stocks
2024 2023
£    £   
Stocks 107,500 142,500

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Recoverable on Contracts 1,956,249 2,064,993
Other debtors 7,743 51,587
VAT 74,650 46,304
Prepayments 17,762 19,223
2,056,404 2,182,107

8. Current asset investments
2024 2023
£    £   
Shares in group undertakings 33 33

Environmental Fabrications Limited (Registered number: NI027714)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

9. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts (see note 11) 351,801 569,695
Trade creditors 763,919 612,436
Corporation tax 21,467 127,157
Social security and other taxes 48,850 40,320
Credit cards 15,759 10,240
Employee pensions payable 768 2,715
Directors' current accounts 244,442 556
Accrued expenses 24,870 16,789
1,471,876 1,379,908

10. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans (see note 11) 12,240 21,357

11. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 342,373 560,267
Bank loans 9,428 9,428
351,801 569,695

Amounts falling due between one and two years:
Bank loans - 1-2 years 12,240 19,481

Amounts falling due between two and five years:
Bank loans - 2-5 years - 1,876

Environmental Fabrications Limited (Registered number: NI027714)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

12. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 342,373 560,267
Bank loans 21,668 30,785
364,041 591,052

Danske Bank currently hold an all monies floating charge over the assets of the company including its property, both present and future. Danske Bank also hold an all monies mortgage on all book debts now and from time to time owing to the company.

The bank loan for the purchase of the property at 17 Mound Road, Dromore, BT25 1DL from where the company trades from is secured by way of a fixed charge containing a negative pledge.

The hire purchase creditor is secured against the asset which the agreement was taken out on.

13. Provisions for liabilities
2024 2023
£    £   
Deferred tax 42,248 41,477

Deferred
tax
£   
Balance at 1 September 2023 41,477
Provided during year 771
Balance at 31 August 2024 42,248

14. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
22,000 Ordinary £1 22,000 22,000

15. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
Mr. W J Donaldson
Balance outstanding at start of year (556 ) -
Amounts advanced 388,566 60,000
Amounts repaid (632,452 ) (60,556 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (244,442 ) (556 )