Company Registration No. NI027009 (Northern Ireland)
ENVIRONMENTAL TECHNIQUES LIMITED
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ENVIRONMENTAL TECHNIQUES LIMITED
CONTENTS
Page
Company information
1
Strategic report
2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of income and retained earnings
8
Balance sheet
9
Statement of cash flows
10
Notes to the financial statements
11 - 21
ENVIRONMENTAL TECHNIQUES LIMITED
COMPANY INFORMATION
- 1 -
Directors
Ms Shauna Herron
Mr John Heggemann
Mr Daniel Schoenekase
Secretary
Mr Paul Gibson
Company number
NI027009
Registered office
1 Flush Park
Knockmore Road
Lisburn
Co. Antrim
BT28 2DX
Independent auditor
Johnston Kennedy DFK
Chartered Accountants
10 Pilots View
Heron Road
Belfast
BT3 9LE
Bankers
Danske Bank
62/66 Bow Street
Lisburn
Co. Antrim
BT28 1YS
JP Morgan Chase
25 Bank Street
London
E14 5JP
Solicitors
Carson McDowell
Murray House
4 Murray Street
Belfast
BT1 6DN
ENVIRONMENTAL TECHNIQUES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors present the strategic report for the year ended 31 December 2024.

Review of the business

A review of the operations of the company during the financial year and the results of those operations are as follows:

The company made a profit after tax of £1,134,214 (2023: £883,891). The company's turnover increased by 6.19%. The gross profit % was 29.93% (2023: 29.50%). Total overhead costs decreased from £1,95 7 k to £1,951k.

The balance sheet remains strong with net assets increasing from £2,274 k to £3,408k. The company has secure banking facilities and generated an EBITDA of £1,893k, an increase of £334k on the previous year.

The company invested £720 k (2023: £500 k) in fixed assets during the year, comprising mainly plant and machinery, motor vehicles and fixtures and fittings. The working capital requirement decreased by £630k during the year.

Principal risks and uncertainties

The company does not have significant exposure to business risks. The only business risks are financial risks. In the course of business the company has exposure to normal levels of risk on exchange rates, interest rates, credit transactions and liquidity. The board reviews and agrees policies for prudent management of these risks as follows:

- currency risk - the company has a proportion of trade in foreign currency, which is euro denominated;

- finance and interest rate risk - the company's objective in relation to interest rate management is to minimise the impact of interest rate volatility on interest costs. T he board considers that its current interest rate position is appropriate but this will continue to be reviewed and reassessed;

- liquidity and cash flow risk - the company's objective in relation to liquidity and cash flow management is to ensure that it has ready access to credit lines, significant headroom on its bank facilities and short term cash deposit arrangements; and

- credit risk - the company has no significant concentrations of credit risk. Customers who wish to trade on credit terms are subject to strict verification procedures in advance of credit being granted and the balances owed are continually monitored.

By order of the board

Mr Paul Gibson
.....................................
Mr Paul Gibson
Secretary
Date: 3 October 2025
ENVIRONMENTAL TECHNIQUES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company continued to be that of the provision of specialist engineering services.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Ms Shauna Herron
Mr John Heggemann
Mr Daniel Schoenekase
Results and dividends

The results for the year are set out on page 8. The profit after tax amounted to £1,134,214 and it is proposed that the retained profit of £1,134,214 is transferred to reserves. No recommendation is made as to final dividends.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Auditor

The auditor, Johnston Kennedy DFK, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ENVIRONMENTAL TECHNIQUES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

By order of the board
Mr Paul Gibson
....................................
Mr Paul Gibson
Secretary
Date: 3 October 2025
ENVIRONMENTAL TECHNIQUES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ENVIRONMENTAL TECHNIQUES LIMITED
- 5 -
Opinion

We have audited the financial statements of Environmental Techniques Limited (the 'company') for the year ended 31 December 2024 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

ENVIRONMENTAL TECHNIQUES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ENVIRONMENTAL TECHNIQUES LIMITED
- 6 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The scope of our audit
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. As part of our audit, we determined materiality and assessed the risks of material misstatement, in the financial statements.
ENVIRONMENTAL TECHNIQUES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ENVIRONMENTAL TECHNIQUES LIMITED
- 7 -
Capability of the audit in determining irregularities, including fraud

Based on our understanding of the company we identified that the principal risks of non-compliance with the laws and regulations related to UK tax legislation, employment law and breaches of health and safety regulations and GDPR. As auditors we consider the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were posting inappropriate journal entries and management bias in accounting judgements and estimates. We designed procedures in line with our risk assessment and incorporate d audit procedures and safeguards where relevant.

Audit procedures performed (by the engagement team) includ ed the following:

- discussion with management, and the company's legal team, including known or suspected instances of non-compliance with laws and regulations and fraud;

- the assessment of matters such as whistleblowing and the results of any management investigation into these matters;

- challenging assumptions made by the management in their significant accounting estimates, in particular in relation to judgements formed in relation to provisions and the impairment of assets which in the auditors' professional judgement were of most significance in the audit of the financial statements for the current year;

- reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and

- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations, journal entries crediting revenue, journal entries crediting cash and journal entries of a large or unusual nature.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

James Gage
........................................
James Gage (Senior Statutory Auditor)
for and on behalf of Johnston Kennedy DFK
Chartered Accountants
Statutory Auditor
10 Pilots View
Heron Road
Belfast
BT3 9LE
Date:
3 October 2025
ENVIRONMENTAL TECHNIQUES LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
2023
Notes
£
£
Turnover
3
11,980,895
11,282,803
Cost of sales
(8,395,041)
(7,954,397)
Gross profit
3,585,854
3,328,406
Distribution costs
(166,680)
(169,269)
Administrative expenses
(1,950,814)
(1,957,477)
Operating profit
4
1,468,360
1,201,660
Interest receivable and similar income
7
2,465
-
Interest payable and similar expenses
8
-
(226)
Profit before taxation
1,470,825
1,201,434
Tax on profit
9
(336,611)
(317,543)
Profit for the financial year
1,134,214
883,891
Retained earnings brought forward
947,389
63,498
Retained earnings carried forward
2,081,603
947,389

The profit and loss account has been prepared on the basis that all operations are continuing operations.

The notes on pages 11 to 21 form part of these financial statements
ENVIRONMENTAL TECHNIQUES LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
10
1,651,503
1,358,493
Current assets
Stocks
11
69,770
40,082
Debtors
12
2,976,373
2,362,389
Cash at bank and in hand
1,277,947
686,065
4,324,090
3,088,536
Creditors: amounts falling due within one year
13
(2,293,590)
(2,000,396)
Net current assets
2,030,500
1,088,140
Total assets less current liabilities
3,682,003
2,446,633
Provisions for liabilities
14
(273,917)
(172,761)
Net assets
3,408,086
2,273,872
Capital and reserves
Called up share capital
16
23,000
23,000
Share premium account
939,805
939,805
Revaluation reserve
363,678
363,678
Profit and loss reserves
2,081,603
947,389
Total equity
3,408,086
2,273,872
The financial statements were approved by the board of directors and authorised for issue on 3 October 2025 and are signed on its behalf by:
Ms Shauna Herron
Mr John Heggemann
....................................
................................
Ms Shauna Herron
Mr John Heggemann
Director
Director
Company Registration No. NI027009
The notes on pages 11 to 21 form part of these financial statements
ENVIRONMENTAL TECHNIQUES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
20
1,263,880
(433,983)
Interest paid
-
0
(226)
Corporation taxes refunded/(paid)
43,615
(3,224)
Net cash inflow/(outflow) from operating activities
1,307,495
(437,433)
Investing activities
Purchase of tangible fixed assets
(719,557)
(499,688)
Proceeds from disposal of tangible fixed assets
1,479
-
0
Interest received
2,465
-
0
Net cash used in investing activities
(715,613)
(499,688)
Net increase/(decrease) in cash and cash equivalents
591,882
(937,121)
Cash and cash equivalents at beginning of year
686,065
1,623,186
Cash and cash equivalents at end of year
1,277,947
686,065
The notes on pages 11 to 21 form part of these financial statements
ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
1
Principal accounting policies
Company information

Environmental Techniques Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 1 Flush Park, Knockmore Road, Lisburn, Co. Antrim, BT28 2DX.

1.1
Basis of preparation

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

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:

Land and buildings Freehold
2.5% straight line
Plant and machinery
20% - 25% straight line
Fixtures, fittings & equipment
25% - 50% straight line
Computer equipment
25% - 50% straight line
Motor vehicles
25% - 33.33% straight line

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.

ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Principal accounting policies
(Continued)
- 12 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 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 legally 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.

ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Principal accounting policies
(Continued)
- 13 -
Basic financial assets

Basic financial assets, which include debtors and 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 the 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 paymen ts 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. A m ounts 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.

ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Principal accounting policies
(Continued)
- 14 -
Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
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.

ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Principal accounting policies
(Continued)
- 15 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

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 lease s asset are consumed.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements 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 are based on historical experience and other factors that are considered 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 period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by geographical market
Northern Ireland
926,000
248,318
Republic of Ireland
2,121,000
221,533
Great Britain
7,036,000
8,090,947
Isle of Man
1,674,000
2,287,461
Guernsey
223,895
434,544
11,980,895
11,282,803
ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3
Turnover and other revenue
(Continued)
- 16 -
2024
2023
£
£
Other revenue
Interest income
2,465
-
4
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses
19,095
21,919
Fees payable to the company's auditor for the audit of the company's financial statements
11,685
10,667
Depreciation of owned tangible fixed assets
426,547
357,537
Profit on disposal of tangible fixed assets
(1,479)
-
Operating lease charges
187,127
83,364
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Production
50
48
Selling and distribution
2
2
Administration
4
4
Directors
3
3
Total
59
57

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
2,645,194
2,523,547
Social security costs
273,491
269,865
Pension costs
19,547
46,787
2,938,232
2,840,199
6
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
208,676
213,191
ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6
Directors' remuneration
(Continued)
- 17 -
Remuneration disclosed above include the following amounts paid to the highest paid director:
2024
2023
£
£
Remuneration for qualifying services
208,676
213,191
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Other interest income
2,465
-
0
8
Interest payable and similar expenses
2024
2023
£
£
Other finance costs:
Other interest
-
0
226
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
267,184
180,959
Adjustments in respect of prior periods
(31,729)
2,735
Total current tax
235,455
183,694
Deferred tax
Origination and reversal of timing differences
101,156
133,849
Total tax charge
336,611
317,543
ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
9
Taxation
(Continued)
- 18 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
1,470,825
1,201,434
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
367,706
282,337
Tax effect of expenses that are not deductible in determining taxable profit
183
967
Gains not taxable
(370)
-
0
Tax effect of utilisation of tax losses not previously recognised
-
0
(35,970)
Adjustments in respect of prior years
(3,179)
2,735
Depreciation in excess of permanent capital allowances
(100,335)
(66,375)
Research and development tax credit
(28,550)
-
0
Deferred tax
101,156
133,849
Taxation charge for the year
336,611
317,543
10
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
53,364
2,643,217
91,003
1,216,049
4,003,633
Additions
-
0
468,512
-
0
251,045
719,557
Disposals
-
0
-
-
0
(17,550)
(17,550)
At 31 December 2024
53,364
3,111,729
91,003
1,449,544
4,705,640
Depreciation and impairment
At 1 January 2024
25,192
1,929,900
76,947
613,101
2,645,140
Depreciation charged in the year
1,801
267,283
7,067
150,396
426,547
Eliminated in respect of disposals
-
0
-
-
0
(17,550)
(17,550)
At 31 December 2024
26,993
2,197,183
84,014
745,947
3,054,137
Carrying amount
At 31 December 2024
26,371
914,546
6,989
703,597
1,651,503
At 31 December 2023
28,172
713,317
14,056
602,948
1,358,493
ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 19 -
11
Stocks
2024
2023
£
£
Finished goods and goods for resale
69,770
40,082

There are no material differences between the replacement cost of stock and the balance sheet amounts.

12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
629,257
408,023
Amounts recoverable on contracts
1,419,926
631,871
Amounts owed by group undertakings
1,098
809,826
Other debtors
806,451
387,914
Prepayments and accrued income
119,641
124,755
2,976,373
2,362,389
13
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
590,817
899,391
Amounts due to group undertakings
236,465
8,410
Corporation tax
412,819
133,749
Other taxation and social security
148,252
63,207
Other creditors
160,228
213,848
Accruals and deferred income
745,009
681,791
2,293,590
2,000,396
14
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
273,917
172,761
ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14
Deferred taxation
(Continued)
- 20 -
2024
Movements in the year:
£
Liability at 1 January 2024
172,761
Charge to profit or loss
101,156
Liability at 31 December 2024
273,917
15
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
19,547
46,787

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

16
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
23,000
23,000
23,000
23,000
17
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
119,000
22,917
Between two and five years
423,942
-
0
542,942
22,917
18
Capital commitments

Amounts contracted for but not provided in the financial statements:

2024
2023
£
£
Acquisition of tangible fixed assets
-
199,852
ENVIRONMENTAL TECHNIQUES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 21 -
19
Ultimate controlling party

The parent company of Environmental Techniques Limited is Aegion UK Holdings Limited, a company incorporated in the United Kingdom, as it owns 100% of the share capital of the company. The registered office of Aegion UK Holdings Limited is 4-8 Brunel Close, Park Farm Industrial Estate, Wellingborough, Northamptonshire, NN8 6QX.

The directors regard Azuria Water Solutions, a company incorporated in the United States of America, as the company's ultimate parent undertaking and controlling party. Azuria Water Solutions is the smallest and largest group of which the company is a member and for which group financial statements are drawn up. Copies of those financial statements are available from the Finance Department, Azuria Water Solutions, 580 Goddard Ave., Chesterfield, MO 63005, USA.

20
Cash generated from/(absorbed by) operations
2024
2023
£
£
Profit for the year after tax
1,134,214
883,891
Adjustments for:
Taxation charged
336,611
317,543
Finance costs
-
0
226
Investment income
(2,465)
-
0
Gain on disposal of tangible fixed assets
(1,479)
-
Depreciation and impairment of tangible fixed assets
426,547
357,537
Earnings before interest depreciation and taxation
1,893,428
1,559,197
Movements in working capital:
(Increase)/decrease in stocks
(29,688)
19,466
Increase in debtors
(613,984)
(1,467,707)
Increase/(decrease) in creditors
14,124
(544,939)
Cash generated from/(absorbed by) operations
1,263,880
(433,983)
21
Analysis of changes in net funds
1 January 2024
Cash flows
31 December 2024
£
£
£
Cash at bank and in hand
686,065
591,882
1,277,947
2024-12-31 2024-01-01 false false false CCH Software CCH Accounts Production 2025.100 Ms Shauna Herron Mr John Heggemann Mr Daniel Schoenekase Mr Paul Gibson NI027009 2024-01-01 2024-12-31 NI027009 bus:Director1 2024-01-01 2024-12-31 NI027009 bus:Director2 2024-01-01 2024-12-31 NI027009 bus:Director3 2024-01-01 2024-12-31 NI027009 bus:CompanySecretaryDirector1 2024-01-01 2024-12-31 NI027009 bus:CompanySecretary1 2024-01-01 2024-12-31 NI027009 bus:RegisteredOffice 2024-01-01 2024-12-31 NI027009 bus:Agent1 2024-01-01 2024-12-31 NI027009 bus:Agent2 2024-01-01 2024-12-31 NI027009 2024-12-31 NI027009 2023-01-01 2023-12-31 NI027009 core:RetainedEarningsAccumulatedLosses 2024-12-31 NI027009 core:RetainedEarningsAccumulatedLosses 2023-12-31 NI027009 core:ShareCapital 2024-12-31 NI027009 core:ShareCapital 2023-12-31 NI027009 core:SharePremium 2024-12-31 NI027009 core:SharePremium 2023-12-31 NI027009 core:RevaluationReserve 2024-12-31 NI027009 core:RevaluationReserve 2023-12-31 NI027009 2023-12-31 NI027009 core:ShareCapitalOrdinaryShareClass1 2024-12-31 NI027009 core:ShareCapitalOrdinaryShareClass1 2023-12-31 NI027009 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 NI027009 core:ComputerEquipment 2024-12-31 NI027009 core:MotorVehicles 2024-12-31 NI027009 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 NI027009 core:ComputerEquipment 2023-12-31 NI027009 core:MotorVehicles 2023-12-31 NI027009 core:CurrentFinancialInstruments 2024-12-31 NI027009 core:CurrentFinancialInstruments 2023-12-31 NI027009 2023-12-31 NI027009 2022-12-31 NI027009 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI027009 core:PlantMachinery 2024-01-01 2024-12-31 NI027009 core:FurnitureFittings 2024-01-01 2024-12-31 NI027009 core:ComputerEquipment 2024-01-01 2024-12-31 NI027009 core:MotorVehicles 2024-01-01 2024-12-31 NI027009 1 2024-01-01 2024-12-31 NI027009 1 2023-01-01 2023-12-31 NI027009 core:UKTax 2024-01-01 2024-12-31 NI027009 core:UKTax 2023-01-01 2023-12-31 NI027009 2 2024-01-01 2024-12-31 NI027009 2 2023-01-01 2023-12-31 NI027009 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 NI027009 core:ComputerEquipment 2023-12-31 NI027009 core:MotorVehicles 2023-12-31 NI027009 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 NI027009 bus:OrdinaryShareClass1 2024-12-31 NI027009 bus:OrdinaryShareClass1 2023-12-31 NI027009 core:WithinOneYear 2024-12-31 NI027009 core:WithinOneYear 2023-12-31 NI027009 core:BetweenTwoFiveYears 2024-12-31 NI027009 core:BetweenTwoFiveYears 2023-12-31 NI027009 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI027009 bus:FRS102 2024-01-01 2024-12-31 NI027009 bus:Audited 2024-01-01 2024-12-31 NI027009 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP