The directors present the strategic report for the year ended 31 October 2024.
The principal activity of the group continues to be that of a supplier of fully integrated, waste management solutions, specifically the processing of commercial/Industrial and Construction/Demolition waste. The group works in line with the waste hierarchy by mechanically separating waste streams for recycling such as wood, plastics, paper, card and metals, soils, soil conditioning additives and aggregates.
The remaining non-recyclable fractions are used in the production of Solid Recovered Fuel (SRF), Refuse Derived Fuel (RDF) which are used by energy intensive industries to replace finite fossil fuels.
During the 12 month period to 31st October 2024, the group has continued to operate as a key supplier of fully integrated, waste management solutions within the UK.
The UK waste management market remains challenging particularly with respect to higher operating costs, energy costs and labour shortages, the market continues to improve and we are seeing more stability with respect to operating costs, albeit at a higher level.
Eco-Power continues to concentrate on its more traditional recycling and recovery markets derived from UK's construction and demolition sector.
These market changes have enabled the business to maintain stability from a lower turnover position due to a reduction in operating and disposal cost and an increase in commodity returns.
The group will continue to focus on its key operations, and specifically its aim to divert 95% of material that it manages from landfill, with a capacity to handle more than 1.2 million tonnes of material per year, and additionally develop complimentary supply chain offerings to strategically grow the business.
The principal risks and uncertainties faced by the company are the general uncertain economic climate in which it currently trades.
The directors and management team continually monitor such risks and meet to discuss how best to protect the business.
The directors utilise the following key performance indicators to assess the performance of the group:
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 October 2024.
The results for the year are set out on page 8.
Ordinary dividends were paid amounting to £460,173. The directors do not recommend payment of a further dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
In accordance with the company's articles, a resolution proposing that Champion Accountants LLP be reappointed as auditor of the group will be put at a General Meeting.
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
Qualified opinion on financial statements
We have audited the financial statements of Eco-Power Environmental Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company 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).
Basis for qualified opinion
Material uncertainty related to going concern
We draw attention to note 1.3 in the financial statements, which indicates that the company’s ability to continue as a going concern is dependent upon continued financial support from the wider Eco Power Group. We also draw attention to note 24 in the financial statements which detail numerous contingent liabilities. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern.
Our opinion is not modified in respect of this matter.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
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' report 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.
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. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
Extent to which the audit is considered capable of detecting irregularities, including fraud
The responsibility for the prevention and detection of irregularities, including fraud, lies with the directors and with those charged with governance. The objectives of our audit in respect of irregularities and fraud are to assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient, appropriate audit evidence regarding the assessed risks and to respond appropriately to fraud or suspected fraud identified during the audit.
Audit procedures
We determine significant applicable laws and regulations through discussion with those charged with governance and our own knowledge of the industry and design audit procedures to help identify instances of non-compliance with those laws and regulations that may have a material effect on the financial statements.
We consider the applicable laws and regulations to be the financial reporting framework (FRS 102 and the Companies Act 2006), the relevant tax regulations in the UK, employment law and the Health and Safety at Work Act 1974.
We consider the control environment and the procedures in place to address identified risks, including management override, non-compliance with laws and regulations and to prevent and detect fraud or irregularity. Our procedures are designed to provide reasonable assurance that the financial statements are free from material misstatement or error and include: enquiries of management and of staff in key compliance functions; review of minutes of meetings of those charged with governance; review and testing of manual journals and significant transactions outside the normal course of business; review of financial statement disclosures and testing to supporting documentation; performance of analytical procedures.
We are not responsible for preventing non-compliance and due to the inherent limitations of an audit, as described above, the audit cannot be relied upon to detect all instances of non-compliance with laws and regulations.
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.
Use of our report
This report is made solely to the parent 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 parent 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 parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £60,464 (2023 - £80,000 profit).
Eco-Power Environmental Holdings Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is .
The group consists of Eco-Power Environmental Holdings Limited and all of its subsidiaries.
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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The consolidated group financial statements consist of the financial statements of the parent company Eco-Power Environmental Holdings Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 31 October 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the group will continue in operational existence for the foreseeable future. However, the directors are aware of certain material uncertainties which may cause doubt on the group's ability to continue as a going concern.
The directors have recognised the downturn in financial performance of the group during the two years to 31 October 2024, excluding exceptional items. There was an operational restructuring of the business in December 2024 with the expectation that the current trading year will see a return to profitability. The senior management team prepare detailed forecasts as part of their day to day operations to set out the short and medium cash flow needs. The group will continue to receive the support of other businesses within the wider Eco Power Group. As detailed in note 24 to these accounts, there is also a contingent liability that could affect the company's ability to continue as a going concern.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Freehold land is not depreciated.
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 recognised in the profit and loss account.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible 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.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
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.
The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and 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.
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, 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.
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.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group 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.
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 group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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 subsequently 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 through 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.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group 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 group.
The tax expense represents the sum of the tax currently payable and deferred 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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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 if, and only if, there is 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.
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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
In the application of the group’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.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Depreciation is provided to write down the assets over the estimated economic useful lives as set out in the Company's accounting policies. The selection of these estimated lives requires the exercise of management judgement. Useful lives are regularly reviewed and should management's assessment of useful lives change, then depreciation charges and carrying value of fixed assets in the financial statements would change accordingly.
The directors assess the recoverability of trade and other debtors on an ongoing basis. This assessment requires judgement in deciding whether the amounts due will be received in full.
The income included as exceptional in this year and the prior year relates to money received during an exclusivity period entered into by the group for the potential sale of assets, licences and intellectual property at its Hull Plant. The sale didn't complete with this buyer but under the terms of the legal agreement entered into the payments received during the exclusivity period belong to Eco-Power Environmental Limited absolutely. Also included this year is a correction to an amount written off in error in the prior year.
The expenses included as exceptional in the prior year relate to costs incurred to maintain the Hull Plant ahead of a sale.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
Included in amounts written off loans are various amounts no longer considered recoverable by the directors. These reflects a charge to the profit and loss account in the current and prior year which are not reflective of the underlying trade.
On 11 March 2024 the group sold its shares in Eco-Power Green Energy Limited, a 100% owned subsidiary. The resulting gain on disposal of these shares is shown in other gains and losses. This includes the contingent consideration detailed below.
Earn Out
As part of the share sale agreement there is contingent consideration linked to EBITDA performance in the 4 years following completion of the deal. This was stated in the agreement as being a minimum of £8M, less various warranty claims and deductions. The buyer has calculated the contingent consideration to be £4.2M based on current expectations in their latest audited accounts and therefore this figure has been included in the gain on disposal of Eco-Power Green Energy Limited as accrued income.
The actual credit for the year can be reconciled to the expected charge/(credit) for the year based on the profit or loss and the standard rate of tax as follows:
The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.
Land with a carrying amount of £640,000 was revalued at 31 July 2017 by Bardill Barnard Ltd, independent valuers not connected with the group on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties The directors do not consider the current value at 31 October 2024 to be materially different.
The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:
Details of the company's subsidiaries at 31 October 2024 are as follows:
Included within borrowings is a secured loan facility of £3million with Lux Park Limited, originally agreed on 15 December 2023 and varied in 2024. The loan is repayable over 60 months at an interest rate of 2.5% per annum. The facility is secured by fixed and floating charges over the assets of the group. The group is in compliance with all loan covenants. At the year end, the balance was £2,927,259.
Finance lease obligations are secured against the assets which they relate.
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
On 8 February 2024 the company redeemed the 33 Deferred Shares with a nominal value of £33.
On 8 February 2024 the company bought back 50 Ordinary C shares with a nominal value of £0.50. The shares were cancelled immediately on purchase.
First contingent liability
HM Revenue & Customs has entered into correspondence with the Eco-Power Environmental Limited, a company in the group, in respect of additional corporation tax and VAT that they consider is due. Various assessments have been received for the corporation tax but no formal assessment has yet been raised by H M Revenue & Customs for the VAT element.
Assessments received for additional corporation tax due total £2,166,036, which included interest to the date of the assessment. Potential penalties would be due in addition to these amounts.
The company strongly disputes the basis of the assessments received and the potential assessments for the VAT and, having taken professional advice, considers that it has strong grounds for contesting the claim. Accordingly, no provision has been made in the financial statements. The matter will be pursued through the appropriate appeals process. The ultimate outcome cannot be determined with certainty at this stage. Should the liability be proven to be due it would provide a material uncertainty with regards to going concern of the company and potentially the group.
Second contingent liability
In addition, the group historically received payments under a contractual arrangement in relation to a business deal. Under the terms of the agreement, the amounts received may be repayable although the group does not believe this to be the case and therefore no liability is included. The potential liability would have a material affect on the financial statements.
Guarantees
The group has granted a fixed and floating charge over its assets in favour of Lux Park Limited as continuing security for borrowings of £3million made to Eco-Power Environmental Holdings Limited. No amounts have been demanded under this guarantee.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The remuneration of key management personnel is as follows.
Mr M Jepson and Mr D Colakovic are beneficial shareholders in the ultimate parent undertaking, Eco-Power Environmental Holdings Limited.
During the year, the group entered into the following transactions with related parties:
ESC Investments Limited
ESC Investments Limited is a company in which Mr D Colakovic is a director and shareholder.
At the year end, Eco-Power Environmental Limited was owed £284,100 (2023: £524,200) from ESC Investments Limited. This amount is included in other debtors. At the year end, ESC Investments Limited owed £107,100 (2023: £107,100) to Wroot Drying Services Limited.
Eco Power Properties Limited
Eco Power Properties Limited is a company under the control of Mr D Colakovic, Mr M Jepson and Mr L Higgins.
During the year Eco-Power Environmental Limited received income of £nil (2023: £1,402) from Eco Power Properties Limited.
At the year end, Eco-Power Environmental Limited owed £255,557 (2023: £152,505) to Eco Power Properties Limited. This amount is included in other creditors. At the year end, Eco Power Properties Limited owed £1,000 (2023: £1,000) to Wroot Drying Services Limited.
Bankwood Commercial Properties Limited
Bankwood Commercial Properties Limited is a company under the control of Mr D Colakovic and Mr M Jepson.
At the year end, Eco-Power Environmental Limited was owed £nil (2023: £117,186) by Bankwood Commercial Properties Limited, following the debtor balance of £117,186 being written off following the company being dissolved.
Retford Wood Fuels Limited
Retford Wood Fuels Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest.
At the year end, Eco-Power Environmental Limited owed £nil (2023: £376,432) to Retford Wood Fuels Limited, following the company being dissolved and the balance being written off.
Eco Power Wood Fuels Limited
Eco Power Wood Fuels Limited is a company in which Mr M Jepson is a director and both Mr M Jepson and Mr D Colakovic have an interest.
£136,800 was written off in the current year. No amounts have been written off in the prior year. During the year ended 31 October 2024, Wroot Drying Services Limited made purchases of £40,000 (2023: £51,457) from Eco Power Wood Fuels Limited.
At the year end, Eco-Power Environmental Limited was owed £48,683 (2023: £1,113,957) from Eco Power Wood Fuels Limited. In addition, the company owed £61,589 (2023: £550,831) to Eco Power Wood Fuels Limited. This is included in other creditors. Wroot Drying Services Limited was owed £394,756 by Eco Power Wood Fuels Limited (2023: £294,881) at 31 October 2024.
Eco Power Construction Group Limited
Eco Power Construction Group Limited is a company under the control of Mr D Colakovic and Mr M Jepson.
At the year end, Eco-Power Environmental Limited owed £nil (2023: £100,002) to Eco Power Construction Group Limited. This amount is included in other creditors.
Eco-Railfreight Limited
Eco-Railfreight Limited is a company in which Mr M Jepson and Mr D Colakovic hold an interest.
During the year, Eco-Power Environmental Limited made sales of £nil (2023: £5,354) to Eco-Railfreight Limited. During the year, the company made purchases of £2,542 (2023: £418,817) from Eco-Railfreight Limited.
At the year end, Eco-Power Environmental Limited owed £324,509 (2023: £342,191) to Eco-Railfreight Limited. This amount is included in other creditors.
Eco-Power Fuels Limited
Eco-Power Fuels Limited is a company in which Mr L Calders and Mr M Graves were directors during the year and hold an interest. In addition, Mr D Colakovic and Mr M Jepson hold an interest.
At the year end, Eco-Power Environmental Limited was owed £nil (2023: £32,845) by Eco-Power Fuels Limited. £32,845 was written off in the current year. No amounts have been written off in the prior year.
Eco Power Skips Limited
Eco-Power Skips Limited is a company in which Mr L Calders and Mr M Graves are directors and Mr M Jepson and Mr D Colakovic have an interest.
During the year, Eco-Power Environmental Limited made sales of £646,938 (2023: £2,418,765) to Eco-Power Skips Limited and purchases of £12,217 (2023: £690,009) from Eco-Power Skips Limited. During the year, Wroot Drying Services Limited made purchases of £1,451 (2023: £667) from Eco-Power Skips Limited.
At the year end, Eco-Power Environmental Limited was owed £1,865,492 (2023: £3,095,459) by Eco-Power Skips Limited. Eco-Power Skips Limited owed £nil (2023: £117,478) to Wroot Drying Services Limited, which was impaired as the balance was not deemed recoverable.
Eco Power Surfacing Limited
Eco Power Surfacing Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest.
At the year end, Eco-Power Environmental Limited owed £10,266 (2023: £169,866) to Eco Power Surfacing Limited. This amount is included in other creditors.
Commercial Heating & Drying Limited
Commercial Heating & Drying Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest.
During the year, Eco-Power Environmental Limited made sales of £24,669 (2023: £nil) to Commercial Heating & Drying Limited.
At the year end, Eco-Power Environmental Limited was owed £410,314 (2023: £445,156) by Commercial Heating & Drying Limited. This amount is included in other debtors. At the year end, Commercial Heating & Drying Limited owed £2,700 (2023: £2,700) to Wroot Drying Services Limited.
Eco Power Civil Engineering Limited
Eco Power Civil Engineering Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest.
During the year, Eco-Power Environmental Limited made sales credit notes of £16,958 (2023: £nil) to Eco Power Civil Engineering Limited. During the year the company made purchases of £212,816 (2023: £nil) from Eco Power Civil Engineering Limited.
At the year end, Eco-Power Environmental Limited was owed £717,689 (2023: £296,556) by Eco Power Civil Engineering Limited. This amount is included in other debtors.
Eco Power Recruitment Holdings Limited
Eco Power Recruitment Holdings Limited is a company in which Mr L Calders, Mr M Jepson and Mr D Colakovic have an interest.
At the year end, Eco-Power Environmental Limited was owed £nil (2023: £152,195) by Eco Power Recruitment Holdings Limited. During the year £36,076 due from Eco Power Recruitment Holdings Limited was written off as the loan was written off as part of the sale of the company.
Eco Power Metals Limited
Eco Power Metals Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest and Mr L Calders and Mr L Jepson are directors.
During the year, Eco-Power Environmental Limited made sales of £26,122 (2023: £nil) to Eco Power Metals Limited.
At the year end, Eco-Power Environmental Limited was owed £454,497 (2023: £33,176) by Eco Power Metals Limited. This amount is included in other debtors.
Eco Power Racing Limited
Eco Power Racing Limited is a company in which Mr D Colakovic has an interest.
During the year, the Eco-Power Environmental Limited made sales of £8,542 (2023: £nil) to Eco Power Racing Limited.
At the year end, Eco-Power Environmental Limited was owed £1,709,758 (2023: £172,328) by Eco Power Racing Limited. This amount is included in other debtors. At the year end, Eco Power Racing Limited owed £230,500 (2023: £37,100) to Wroot Drying Services Limited.
Eco Power Health and Wellness Clinic Limited
Eco Power Health and Wellness Clinic Limited is a company in which Mr D Colakovic has an interest.
During the year, Eco-Power Environmental Limited made purchases of £1,286 (2023: £nil) from Eco Power Health and Wellness Clinic Limited.
At the year end, Eco-Power Environmental Limited was owed £405,013 (2023: £230,802) by Eco Power Health and Wellness Clinic Limited.
Eco Power Plant Hire Limited
Eco Power Plant Hire Limited is a company owned by Mr D Colakovic in the period.
During the year, Eco-Power Environmental Limited made purchases of £23,321 (2023: £nil) from Eco-Power Plant Hire Limited.
At the year end, Eco-Power Environmental Limited owed £30,213 (2023: £nil) to Eco-Power Plant Hire Limited. This amount is included in other creditors.
At the year end, Wroot Drying Services Limited owed £nil (2023: £19,383) to Eco Power Plant Hire Limited.
GBM Promotions Limited
GBM Promotions Limited is a company indirectly controlled by Mr David Colakovic.
At the year end, Eco-Power Environmental Limited was owed £1,110,647 (2023: £nil) from GBM Promotions Limited.
Eco Power Star Design Interiors Limited
Eco Power Star Design Interiors Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest and Mr L Calder is a director.
During the year, Eco-Power Environmental Limited made sales of £8,590 (2023: £nil) to Eco Power Star Design Interiors Limited and purchases of £21,160 (2023: £nil) from Eco Power Star Design Interiors Limited.
At the year end, Eco-Power Environmental Limited was owed £nil (2023: £40,794) by Eco Power Star Design interiors Limited. £360,946 was written off in the current year. No amounts have been written off in the prior year.
At the year end, Eco Power Star Design Interiors Limited owed £nil (2023: £32,000) to Wroot Drying Services Limited. The balance of £32,000 has been written off as the company is in liquidation.
Directors' Current Accounts
Directors' current account balances included in other debtors at the year end total £52,100 (2023: £22,600). The outstanding amounts are repayable on demand and no interest was charged on the loans in the year.
Eco-Power Engineering Limited
Eco-Power Engineering Ltd is a company which Mr M Jepson has an interest and Mr L Calders is a director.
During the year, Eco-Power Environmental Limited made sales of £363 (2023: £nil) to Eco-Power Engineering Limited and purchases of £73,610 (2023: £nil) from Eco-Power Engineering Limited.
At the year end, Eco-Power Environmental Limited was owed £nil (2023: £nil) by Eco Power Engineering Limited. £62,477 was written off in the current year. No amounts have been written off in the prior year.
Eco-Power Priority One Security Limited
Eco Power Priority One Security Limited is a company in which Mr M Jepson and Mr D Colakovic have an interest and Mr L Calders is a director.
During the year, Eco-Power Environmental Limited made sales of £3,855 (2023: £nil) to Eco-Power Priority One Security Limited and purchases of £43,196 (2023: £nil) from Eco-Power Priority One Security Limited.
At the year end, Eco-Power Environmental Limited owed £12,988 (2023: £nil) to Eco-Power Priority One Security Limited. This amount is included in other creditors.
Eco Tyres Limited
Eco Tyres Limited is a company indirectly controlled by Mr David Colakovic.
During the year, Eco-Power Environmental Limited made purchases of £1,304 (2023: £nil) from Eco Tyres Limited.
At the year end, Eco-Power Environmental Limited owed £643 (2023: £nil) to Eco Tyres Limited. This amount is included in other creditors.
Eco-Power Facilities Management Limited
Eco Power Facilities Management Limited is a company in which Mr L Higgins and Mr D Colakovic have an interest and Mr L Calders and Mr L Higgins are directors.
During the year, Eco-Power Environmental Limited made sales of £27,000 (2023: £nil) to Eco-Power Facilities Management Limited.
At the year end, Eco-Power Environmental Limited owed £nil (2023: £nil) to Eco-Power Facilities Management Limited. £62,080 was written off in the current year. No amounts have been written off in the prior year.
Eco-Power Renewable Energy Limited
Eco-Power Renewable Energy Limited is a company indirectly controlled by Mr David Colakovic.
At the year end, Eco-Power Environmental Limited was owed £nil (2023: £nil) by Eco Power Engineering Limited. £84,078 was written off in the current year. No amounts have been written off in the prior year.
JMS Haulage Limited
JMS Haulage Limited is a company indirectly controlled by Mr David Colakovic.
During the year, Eco-Power Environmental Limited made sales of £2,510 (2023: £nil) to JMS Haulage Limited . During the year the company made purchases of £2,087,338 (2023: £nil) from JMS Haulage Limited. At the year end, there were amounts of £331,730 due to JMS Haulage Limited (2023: £nil).
Loans to participators
At the year end, a balance of £410,510 (2023: £nil) was owed to Eco-Power Environmental Limited by Mr D Colakovic, a beneficial shareholder in the ultimate parent undertaking, Eco-Power Environmental Holdings Limited. The balance resulted from a loan in the period and interest is to be charged at the official beneficial loan interest rate on the amount due.
At the year end, a balance of £13,500 (2023: £nil) was owed to Wroot Drying Services Limited by Mr D Colakovic, a beneficial shareholder in the ultimate parent undertaking, Eco-Power Environmental Holdings Limited. The balance resulted from a loan in the period and interest is to be charged at the official beneficial loan interest rate on the amount due.