Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312025-05-1456042025-05-14712024-01-01falseNo description of principal activity62truetruefalse 02933074 2024-01-01 2024-12-31 02933074 c:KeyManagementIndividualGroup4 2024-01-01 2024-12-31 02933074 c:KeyManagementIndividualGroup3 2024-01-01 2024-12-31 02933074 c:KeyManagementIndividualGroup2 2024-01-01 2024-12-31 02933074 c:KeyManagementIndividualGroup1 2024-01-01 2024-12-31 02933074 2023-01-01 2023-12-31 02933074 2023-12-31 02933074 c:KeyManagementIndividualGroup3 2024-01-01 02933074 c:KeyManagementIndividualGroup2 2024-01-01 02933074 c:KeyManagementIndividualGroup1 2024-01-01 02933074 4 2024-01-01 2024-12-31 02933074 4 2023-01-01 2023-12-31 02933074 e:Director1 2024-01-01 2024-12-31 02933074 c:Buildings 2024-01-01 2024-12-31 02933074 c:Buildings 2024-12-31 02933074 c:Buildings 2023-12-31 02933074 c:Buildings c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02933074 c:Buildings c:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02933074 c:Buildings c:LongLeaseholdAssets 2024-01-01 2024-12-31 02933074 c:Buildings c:LongLeaseholdAssets 2024-12-31 02933074 c:Buildings c:LongLeaseholdAssets 2023-12-31 02933074 c:PlantMachinery 2024-01-01 2024-12-31 02933074 c:PlantMachinery 2024-12-31 02933074 c:PlantMachinery 2023-12-31 02933074 c:PlantMachinery c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02933074 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02933074 c:MotorVehicles 2024-01-01 2024-12-31 02933074 c:MotorVehicles 2024-12-31 02933074 c:MotorVehicles 2023-12-31 02933074 c:MotorVehicles c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02933074 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02933074 c:FurnitureFittings 2024-01-01 2024-12-31 02933074 c:FurnitureFittings 2024-12-31 02933074 c:FurnitureFittings 2023-12-31 02933074 c:FurnitureFittings c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02933074 c:FurnitureFittings c:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02933074 c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 02933074 c:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02933074 c:Goodwill 2024-12-31 02933074 c:Goodwill 2023-12-31 02933074 c:CurrentFinancialInstruments 2024-12-31 02933074 c:CurrentFinancialInstruments 2023-12-31 02933074 c:Non-currentFinancialInstruments 2024-12-31 02933074 c:Non-currentFinancialInstruments 2023-12-31 02933074 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 02933074 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 02933074 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 02933074 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 02933074 c:ShareCapital 2024-12-31 02933074 c:ShareCapital 2023-12-31 02933074 c:RevaluationReserve 2024-01-01 2024-12-31 02933074 c:RevaluationReserve 2024-12-31 02933074 c:RevaluationReserve 2023-12-31 02933074 c:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 02933074 c:RetainedEarningsAccumulatedLosses 2024-12-31 02933074 c:RetainedEarningsAccumulatedLosses 2023-12-31 02933074 e:OrdinaryShareClass1 2024-01-01 2024-12-31 02933074 e:OrdinaryShareClass1 2024-12-31 02933074 e:OrdinaryShareClass1 2023-12-31 02933074 e:FRS102 2024-01-01 2024-12-31 02933074 e:Audited 2024-01-01 2024-12-31 02933074 e:FullAccounts 2024-01-01 2024-12-31 02933074 e:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02933074 2024-12-31 02933074 c:WithinOneYear 2024-12-31 02933074 c:WithinOneYear 2023-12-31 02933074 c:BetweenOneFiveYears 2024-12-31 02933074 c:BetweenOneFiveYears 2023-12-31 02933074 c:MoreThanFiveYears 2024-12-31 02933074 c:MoreThanFiveYears 2023-12-31 02933074 c:HirePurchaseContracts c:WithinOneYear 2024-12-31 02933074 c:HirePurchaseContracts c:WithinOneYear 2023-12-31 02933074 c:HirePurchaseContracts c:BetweenOneFiveYears 2024-12-31 02933074 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-12-31 02933074 e:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02933074 c:AcceleratedTaxDepreciationDeferredTax 2024-12-31 02933074 c:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02933074 c:TaxLossesCarry-forwardsDeferredTax 2024-12-31 02933074 c:TaxLossesCarry-forwardsDeferredTax 2023-12-31 02933074 c:RetirementBenefitObligationsDeferredTax 2024-12-31 02933074 c:RetirementBenefitObligationsDeferredTax 2023-12-31 02933074 2 2024-01-01 2024-12-31 02933074 5 2024-01-01 2024-12-31 02933074 7 2024-01-01 2024-12-31 02933074 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2024-12-31 02933074 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2023-12-31 02933074 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2024-12-31 02933074 c:MotorVehicles c:LeasedAssetsHeldAsLessee 2023-12-31 02933074 c:LeasedAssetsHeldAsLessee 2024-12-31 02933074 c:LeasedAssetsHeldAsLessee 2023-12-31 02933074 f:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02933074










EUROPEAN ASBESTOS SERVICES LIMITED










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
EUROPEAN ASBESTOS SERVICES LIMITED
REGISTERED NUMBER: 02933074

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 8 
1,025,456
838,703

  
1,025,456
838,703

Current assets
  

Stocks
 9 
132,426
78,750

Debtors: amounts falling due within one year
 10 
1,993,746
1,977,593

Cash at bank and in hand
 11 
2,223,099
1,722,705

  
4,349,271
3,779,048

Creditors: amounts falling due within one year
 12 
(1,546,372)
(1,544,804)

Net current assets
  
 
 
2,802,899
 
 
2,234,244

Total assets less current liabilities
  
3,828,355
3,072,947

Creditors: amounts falling due after more than one year
 13 
(107,425)
(138,758)

Provisions for liabilities
  

Deferred tax
 15 
(135,343)
(111,391)

  
 
 
(135,343)
 
 
(111,391)

Net assets
  
3,585,587
2,822,798


Capital and reserves
  

Called up share capital 
 16 
1,000
1,000

Revaluation reserve
 17 
40,936
40,936

Profit and loss account
 17 
3,543,651
2,780,862

  
3,585,587
2,822,798


Page 1

 
EUROPEAN ASBESTOS SERVICES LIMITED
REGISTERED NUMBER: 02933074
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G F Spillane
Director

Date: 14 May 2025

The notes on pages 3 to 16 form part of these financial statements.

Page 2

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

EAS Limited is a private company limited by shares which is incorporated in England. The address of the registered office is given in the company information page of these financial statements. The nature of the company's operations and principal activites are operations within the UK service industry providing a range of services within the specialised asbestos industry.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of the revenue are included in creditors.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line on buildings only
Improvements to property
-
20% straight line
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Stocks

Stocks represent raw materials stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.11
Leasing and hire purchase

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 5

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Holiday pay accrual

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

 
2.16

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.18

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions aer based on historical experience and other factors that are recognised to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the statement of comprehensive income in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The directors are of the view that the accounting policy for income (see 2.2) is appropriate as this is based on key management knowledge which reduces the risk of a material adjustment to the carrying amount of assets and liabilties.
The directors are also of the view that the accounting policy for depreciation of tangible fixed assets (see 2.4) is appropriate as this is based on key management knowledge which reduces the risk of a material adjustment to the carrying amount of assets and liabilties.

Page 7

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Other operating income

2024
2023
£
£

Sundry income
6,916
6,322

6,916
6,322



5.


Employees

The average monthly number of employees, including directors, during the year was 71 (2023 - 62).


6.


Dividends

2024
2023
£
£


Dividends
73,211
1,030,575

73,211
1,030,575


7.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
203,998



At 31 December 2024
203,998



Amortisation


At 1 January 2024
203,998



At 31 December 2024

203,998



Net book value



At 31 December 2024
-



At 31 December 2023
-


Page 8

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
           7.Intangible assets (continued)


Page 9

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Tangible fixed assets





Freehold property
Improvements to property
Plant and machinery
Motor vehicles
Fixtures and fittings

£
£
£
£
£



Cost or valuation


At 1 January 2024
225,000
28,017
349,860
1,304,105
172,334


Additions
-
-
100,349
454,834
27,859


Disposals
-
-
(70,650)
(254,905)
(54,990)



At 31 December 2024

225,000
28,017
379,559
1,504,034
145,203



Depreciation


At 1 January 2024
45,000
15,791
308,757
724,626
146,439


Charge for the year on owned assets
4,500
5,604
34,167
-
11,408


Charge for the year on financed assets
-
-
-
235,539
-


Disposals
-
-
(65,868)
(162,747)
(46,859)



At 31 December 2024

49,500
21,395
277,056
797,418
110,988



Net book value



At 31 December 2024
175,500
6,622
102,503
706,616
34,215



At 31 December 2023
180,000
12,226
41,103
579,479
25,895
Page 10

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           8.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 January 2024
2,079,316


Additions
583,042


Disposals
(380,545)



At 31 December 2024

2,281,813



Depreciation


At 1 January 2024
1,240,613


Charge for the year on owned assets
55,679


Charge for the year on financed assets
235,539


Disposals
(275,474)



At 31 December 2024

1,256,357



Net book value



At 31 December 2024
1,025,456



At 31 December 2023
838,703

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
-
16,944

Motor vehicles
254,823
270,563

254,823
287,507

Page 11

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           8.Tangible fixed assets (continued)


Cost or valuation at 31 December 2024 is as follows:

Land and buildings
£


At cost
203,462
At valuation:

15th May 2015 - Market Value & Market Rent Basis
49,555



253,017

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
203,462
203,462

Accumulated depreciation
(49,500)
(45,000)

Net book value
153,962
158,462

The valuation is consistent with the valuation of the property as at 15th May 2015 by Bonsors Chartered Surveyors & Commercial Property Consultants.
The directors are satisfied that this valuation continues to be appropriate as at the year ended 31 December 2024.


9.


Stocks

2024
2023
£
£

Raw materials
132,426
78,750

132,426
78,750


Page 12

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Debtors

2024
2023
£
£


Trade debtors
930,544
1,061,095

Other debtors
75,666
121,593

Prepayments and accrued income
972,287
779,656

Tax recoverable
15,249
15,249

1,993,746
1,977,593



11.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,223,099
1,722,705

2,223,099
1,722,705



12.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
239,732
516,182

Corporation tax
277,720
57,582

Other taxation and social security
564,022
402,921

Obligations under finance lease and hire purchase contracts
110,069
119,366

Other creditors
208,971
320,382

Accruals and deferred income
145,858
128,371

1,546,372
1,544,804



13.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
107,425
138,758

107,425
138,758


Page 13

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
110,069
119,366

Between 1-5 years
107,425
138,758

217,494
258,124


15.


Deferred taxation




2024


£






At beginning of year
(111,391)


Charged to profit or loss
(23,952)



At end of year
(135,343)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(80,824)
(56,764)

Short term timing differences
(4,246)
(4,354)

Capital gains/(losses)
(50,273)
(50,273)

(135,343)
(111,391)


16.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 14

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

17.


Reserves

Revaluation reserve

The revaluation reserve includes all current and prior period revaluations.

Profit and loss account

Profit and loss account includes all current and prior period retained profits and losses.


18.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £98,785 (2023: £59,725). Contributions totalling £nil (2023: £4,094) were payable to the fund at the balance sheet date.


19.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
158,020
195,881

Later than 1 year and not later than 5 years
196,458
67,907

Later than 5 years
5,085
10,037

359,563
273,825

Page 15

 
EUROPEAN ASBESTOS SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

20.


Related party transactions

Transactions with directors:
During the year G F Spillane was advanced a net amount of £76,693 (2023: repaid £479,302) from the company. At the year end G F Spillane was owed £47,050 (2023: £124,314) by the company. Interest is charged at a rate of 2.25%.
A dividend of £36,605 (2023: £515,288) was paid to G F Spillane.
During the year D J Spillane was advanced a net amount of £76,693 (2023: repaid £479,758) from the company. At the year end D J Spillane was owed £47,050 (2023: £123,172) by the company. Interest is charged at a rate of 2.25%.
A dividend of £36,605 (2023: £515,288) was paid to D J Spillane.
During the year D P Spillane repaid a net amount of £29 (2023: £1,754) to the company. At the year end D P Spillane owed the company £55,035 (2023: £55,064). Interest is charged at a rate of 2.25%.
Transactions with pension scheme:
During the year the company paid rent of £126,525 (2023: £126,525) to SIPP Darrell Spillane - Trustees Hornbuckle Mitchell and SIPP Gary Spillane - Trustees Hornbuckle Mitchell in which G F Spillane and D J Spillane are beneficiaries


21.


Controlling party

G F Spillane and D J Spillane jointly control the company by virtue of their shareholding.


22.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 14 May 2025 by Yasin Khandwalla FCCA (Senior statutory auditor) on behalf of Xeinadin Audit Limited.

 
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