HFS Environmental Limited 05204371 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is environmental services Digita Accounts Production Advanced 6.30.9574.0 true true true 05204371 2023-09-01 2024-08-31 05204371 2024-08-31 05204371 core:RetainedEarningsAccumulatedLosses 2024-08-31 05204371 core:ShareCapital 2024-08-31 05204371 core:FinanceLeases core:CurrentFinancialInstruments 2024-08-31 05204371 core:FinanceLeases core:Non-currentFinancialInstruments 2024-08-31 05204371 core:CurrentFinancialInstruments 2024-08-31 05204371 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05204371 core:Non-currentFinancialInstruments 2024-08-31 05204371 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 05204371 core:Goodwill 2024-08-31 05204371 core:OtherResidualIntangibleAssets 2024-08-31 05204371 core:MotorVehicles 2024-08-31 05204371 core:OfficeEquipment 2024-08-31 05204371 core:PlantMachinery 2024-08-31 05204371 core:ParentEntities 2024-08-31 05204371 1 2024-08-31 05204371 bus:SmallEntities 2023-09-01 2024-08-31 05204371 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05204371 bus:FilletedAccounts 2023-09-01 2024-08-31 05204371 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05204371 bus:RegisteredOffice 2023-09-01 2024-08-31 05204371 bus:CompanySecretary1 2023-09-01 2024-08-31 05204371 bus:Director1 2023-09-01 2024-08-31 05204371 bus:Director3 2023-09-01 2024-08-31 05204371 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05204371 core:ComputerSoftware 2023-09-01 2024-08-31 05204371 core:Goodwill 2023-09-01 2024-08-31 05204371 core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 05204371 core:MotorVehicles 2023-09-01 2024-08-31 05204371 core:OfficeEquipment 2023-09-01 2024-08-31 05204371 core:PlantMachinery 2023-09-01 2024-08-31 05204371 core:Vehicles 2023-09-01 2024-08-31 05204371 core:ParentEntities 2023-09-01 2024-08-31 05204371 1 2023-09-01 2024-08-31 05204371 countries:EnglandWales 2023-09-01 2024-08-31 05204371 1 2023-09-01 2024-08-31 05204371 2023-08-31 05204371 core:Goodwill 2023-08-31 05204371 core:OtherResidualIntangibleAssets 2023-08-31 05204371 core:MotorVehicles 2023-08-31 05204371 core:OfficeEquipment 2023-08-31 05204371 core:PlantMachinery 2023-08-31 05204371 core:ParentEntities 2023-08-31 05204371 1 2023-08-31 05204371 2022-09-01 2023-08-31 05204371 2023-08-31 05204371 core:RetainedEarningsAccumulatedLosses 2023-08-31 05204371 core:ShareCapital 2023-08-31 05204371 core:FinanceLeases core:CurrentFinancialInstruments 2023-08-31 05204371 core:FinanceLeases core:Non-currentFinancialInstruments 2023-08-31 05204371 core:CurrentFinancialInstruments 2023-08-31 05204371 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 05204371 core:Non-currentFinancialInstruments 2023-08-31 05204371 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 05204371 core:Goodwill 2023-08-31 05204371 core:OtherResidualIntangibleAssets 2023-08-31 05204371 core:MotorVehicles 2023-08-31 05204371 core:OfficeEquipment 2023-08-31 05204371 core:PlantMachinery 2023-08-31 05204371 core:ParentEntities 2023-08-31 05204371 1 2023-08-31 05204371 core:ParentEntities 2022-09-01 2023-08-31 05204371 1 2022-09-01 2023-08-31 05204371 2022-08-31 05204371 core:ParentEntities 2022-08-31 05204371 1 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 05204371

HFS Environmental Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

HFS Environmental Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

HFS Environmental Limited

Company Information

Directors

D G Healey

D J Smith

Company secretary

M Healey

Registered office

Unit 9-10 Bowes Business Estate
Meopham
Kent
DA13 0QB

 

HFS Environmental Limited

(Registration number: 05204371)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

63,853

69,707

Tangible assets

5

95,850

136,074

 

159,703

205,781

Current assets

 

Debtors

6

347,545

446,573

Cash at bank and in hand

 

354

-

 

347,899

446,573

Creditors: Amounts falling due within one year

7

(543,101)

(519,407)

Net current liabilities

 

(195,202)

(72,834)

Total assets less current liabilities

 

(35,499)

132,947

Creditors: Amounts falling due after more than one year

7

(88,875)

(123,095)

Provisions for liabilities

-

(25,496)

Net liabilities

 

(124,374)

(15,644)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(124,474)

(15,744)

Shareholders' deficit

 

(124,374)

(15,644)

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.


 

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

HFS Environmental Limited

(Registration number: 05204371)
Balance Sheet as at 31 August 2024 (continued)

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 28 August 2025 and signed on its behalf by:
 


D G Healey
Director

 

HFS Environmental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 9-10 Bowes Business Estate
Meopham
Kent
DA13 0QB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors consider the company to be a going concern despite the deficit on the balance sheet. Included within current liabilities is an amount owed to a company under the common control of its directors of £!41,000. No undue demands are being placed on the company for the repayment of this debt.

The company has traded profitably in the following accounting period and the directors are of the opinion that this will continue into the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

HFS Environmental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

5% per annum on cost

Office equipment

25% per annum on cost

Motor vehicles

25% per annum on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over its useful economic life of 20 years

Software development

Straight line over its useful economic life of 20 years

 

HFS Environmental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

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.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

HFS Environmental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2023 - 18).

 

HFS Environmental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 September 2023

60,000

57,064

117,064

At 31 August 2024

60,000

57,064

117,064

Amortisation

At 1 September 2023

39,500

7,857

47,357

Amortisation charge

3,000

2,854

5,854

At 31 August 2024

42,500

10,711

53,211

Carrying amount

At 31 August 2024

17,500

46,353

63,853

At 31 August 2023

20,500

49,207

69,707

5

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

38,706

21,827

289,389

349,922

Additions

-

676

-

676

Disposals

-

-

(10,000)

(10,000)

At 31 August 2024

38,706

22,503

279,389

340,598

Depreciation

At 1 September 2023

11,621

17,070

185,158

213,849

Charge for the year

1,935

2,662

36,302

40,899

Eliminated on disposal

-

-

(10,000)

(10,000)

At 31 August 2024

13,556

19,732

211,460

244,748

Carrying amount

At 31 August 2024

25,150

2,771

67,929

95,850

At 31 August 2023

27,086

4,757

104,231

136,074

 

HFS Environmental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

6

Debtors

Current

2024
£

2023
£

Trade debtors

328,598

371,159

Other debtors

8,342

63,638

Prepayments

10,605

11,776

 

347,545

446,573

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

71,322

73,591

Trade creditors

 

169,444

167,982

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

16,148

32,121

Taxation and social security

 

112,036

92,432

Other creditors

 

167,151

123,841

Accruals and deferred income

 

7,000

29,440

 

543,101

519,407

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

88,875

123,095

 

HFS Environmental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,358

22,670

Finance lease liabilities

76,517

100,425

88,875

123,095

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,312

10,055

Bank overdrafts

37,102

24,445

Finance lease liabilities

23,908

39,091

71,322

73,591

The bank borrowings represent a Bounce Back Loan which is not subject to any security by the company but covered by the UK Government's Bounce Back Loan Scheme guarantee.

The finance lease liabilities are secured over the motor vehicles they relate to. These motor vehicles are included in fixed assets with a net book value of £67,929 (2023: £104,231).

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £900 (2023 - £900).

The total amount of financial commitments not included in the balance sheet concerning pensions is £11,778 (2023 - £10,551). This is the annual commitment in repect of the company's auto enrollment pension scheme equal to 3% of qualifying earnings of those employees who elect to join it.

 

HFS Environmental Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

10

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Interest free loan repayable on demand

5,339

-

-

5,339

 

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Interest free loan repayable on demand

-

40,383

(35,044)

5,339

 

Loans from related parties

2024

Parent
£

Total
£

At start of period

32,121

32,121

Repaid

(15,973)

(15,973)

At end of period

16,148

16,148

2023

Parent
£

Total
£

At start of period

159,001

159,001

Repaid

(126,880)

(126,880)

At end of period

32,121

32,121

Terms of loans from related parties

The loan is interest free and repayable on demand.
 

11

Parent and ultimate parent undertaking

The company's immediate parent is HFS Environmental Holdings Limited, incorporated in England and Wales.