Company registration number 02647438 (England and Wales)
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
COMPANY INFORMATION
Directors
Mr J C Richards
Mrs A E Richards
Mr A S Harrison
Mr T S J Richards
(Appointed 11 December 2024)
Secretary
Mrs A E Richards
Company number
02647438
Registered office
Thames Laboratories
Hollow Farm
9 Hilton Road
Fenstanton
Cambs
PE28 9LJ
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
NatWest Bank Plc
Broadstairs Branch
Chatham Customer Service Centre
Chatham Maritime
Chatham
Kent
ME4 4RT
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Hazard Management & Environmental Services Laboratories Limited for the year ended 30 September 2024 which comprise, the balance sheet 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 https://www.icaew.com/regulation.
This report is made solely to the board of directors of The Hazard Management & Environmental Services Laboratories Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Hazard Management & Environmental Services Laboratories Limited and state those matters that we have agreed to state to the board of directors of The Hazard Management & Environmental Services Laboratories Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Hazard Management & Environmental Services Laboratories Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that The Hazard Management & Environmental Services Laboratories 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 The Hazard Management & Environmental Services Laboratories Limited. You consider that The Hazard Management & Environmental Services Laboratories 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 The Hazard Management & Environmental Services Laboratories 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.
Ormerod Rutter Limited
27 February 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,066,289
847,860
Tangible assets
4
543,767
612,397
1,610,056
1,460,257
Current assets
Debtors
5
968,609
748,463
Cash at bank and in hand
589,935
720,637
1,558,544
1,469,100
Creditors: amounts falling due within one year
6
(774,362)
(770,453)
Net current assets
784,182
698,647
Total assets less current liabilities
2,394,238
2,158,904
Creditors: amounts falling due after more than one year
7
(110,786)
(145,815)
Provisions for liabilities
(8,661)
Net assets
2,283,452
2,004,428
Capital and reserves
Called up share capital
9
1,000
1,000
Share premium account
14,900
14,900
Profit and loss reserves
2,267,552
1,988,528
Total equity
2,283,452
2,004,428
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 27 February 2025 and are signed on its behalf by:
Mr J C Richards
Director
Company registration number 02647438 (England and Wales)
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information
The Hazard Management & Environmental Services Laboratories Limited is a private company limited by shares incorporated in England and Wales. The registered office is Thames Laboratories, Hollow Farm, 9 Hilton Road, Fenstanton, Cambs, United Kingdom, PE28 9LJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Once brought into use, amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software development
20% on cost
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
2% on cost
Plant and equipment
20% on reducing balance
Fixtures and fittings
20% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on cost
Office equipment
25% on reducing balance
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
51
44
3
Intangible fixed assets
Software development
£
Cost
At 1 October 2023
847,860
Additions - internally developed
218,429
At 30 September 2024
1,066,289
Amortisation and impairment
At 1 October 2023 and 30 September 2024
Carrying amount
At 30 September 2024
1,066,289
At 30 September 2023
847,860
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computer equipment
Motor vehicles
Office equipment
Total
£
£
£
£
£
£
£
Cost
At 1 October 2023
208,168
112,653
25,972
118,518
663,584
34,690
1,163,585
Additions
4,860
3,410
7,443
16,519
114,181
2,895
149,308
Disposals
(157,425)
(157,425)
At 30 September 2024
213,028
116,063
33,415
135,037
620,340
37,585
1,155,468
Depreciation and impairment
At 1 October 2023
32,279
80,927
25,058
108,239
279,790
24,895
551,188
Depreciation charged in the year
4,261
7,028
1,672
12,736
153,560
3,173
182,430
Eliminated in respect of disposals
(121,917)
(121,917)
At 30 September 2024
36,540
87,955
26,730
120,975
311,433
28,068
611,701
Carrying amount
At 30 September 2024
176,488
28,108
6,685
14,062
308,907
9,517
543,767
At 30 September 2023
175,889
31,726
914
10,279
383,794
9,795
612,397
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
481,896
435,828
Other debtors
471,829
312,635
Deferred tax asset
14,884
968,609
748,463
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,071
9,060
Trade creditors
182,928
161,735
Amounts owed to group undertakings
322,928
291,920
Taxation and social security
142,635
160,478
Other creditors
115,800
147,260
774,362
770,453
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,270
18,352
Other creditors
103,516
127,463
110,786
145,815
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Hire purchase contracts
197,749
255,583
Bank loans
17,341
27,412
215,090
282,995
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a government-backed guarantee.
THE HAZARD MANAGEMENT & ENVIRONMENTAL SERVICES LABORATORIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 9 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 1 GBP shares of £1 each
1,000
1,000
1,000
1,000
10
Related party transactions
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.
11
Control
Ultimate parent company
The ultimate parent company is Thames Laboratories Holdings Limited, a company registered in England and Wales.
Ultimate controlling party
The ultimate controlling party is Mr J C Richards and Mrs A C Richards, by virtue of their controlling interest in the ultimate parent company.
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