Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-31 2025-03-31 2025-03-31 2024-04-01 false asbestos risk management and removal 4 4 false false false 10439076 2024-04-01 2025-03-31 10439076 2023-04-01 2024-03-31 10439076 2025-03-31 10439076 2024-03-31 10439076 2023-04-01 10439076 c:Director1 2024-04-01 2025-03-31 10439076 c:Director2 2024-04-01 2025-03-31 10439076 c:Director3 2024-04-01 2025-03-31 10439076 c:Director4 2024-04-01 2025-03-31 10439076 c:Director5 2024-04-01 2025-03-31 10439076 c:Director5 2025-03-31 10439076 c:RegisteredOffice 2024-04-01 2025-03-31 10439076 d:Buildings 2024-04-01 2025-03-31 10439076 d:Buildings d:LongLeaseholdAssets 2024-04-01 2025-03-31 10439076 d:Buildings d:ShortLeaseholdAssets 2024-04-01 2025-03-31 10439076 d:PlantMachinery 2024-04-01 2025-03-31 10439076 d:MotorVehicles 2024-04-01 2025-03-31 10439076 d:FurnitureFittings 2024-04-01 2025-03-31 10439076 d:OfficeEquipment 2024-04-01 2025-03-31 10439076 d:Goodwill 2024-04-01 2025-03-31 10439076 d:CurrentFinancialInstruments 2025-03-31 10439076 d:CurrentFinancialInstruments 2024-03-31 10439076 d:Non-currentFinancialInstruments 2025-03-31 10439076 d:Non-currentFinancialInstruments 2024-03-31 10439076 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 10439076 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10439076 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 10439076 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10439076 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-03-31 10439076 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 10439076 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2025-03-31 10439076 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 10439076 d:ShareCapital 2025-03-31 10439076 d:ShareCapital 2024-03-31 10439076 d:ShareCapital 2023-04-01 10439076 d:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 10439076 d:RetainedEarningsAccumulatedLosses 2025-03-31 10439076 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10439076 d:RetainedEarningsAccumulatedLosses 2024-03-31 10439076 d:RetainedEarningsAccumulatedLosses 2023-04-01 10439076 c:OrdinaryShareClass1 2024-04-01 2025-03-31 10439076 c:OrdinaryShareClass1 2025-03-31 10439076 c:OrdinaryShareClass1 2024-03-31 10439076 c:OrdinaryShareClass2 2024-04-01 2025-03-31 10439076 c:OrdinaryShareClass2 2025-03-31 10439076 c:OrdinaryShareClass2 2024-03-31 10439076 c:FRS102 2024-04-01 2025-03-31 10439076 c:Audited 2024-04-01 2025-03-31 10439076 c:FullAccounts 2024-04-01 2025-03-31 10439076 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10439076 d:Subsidiary1 2024-04-01 2025-03-31 10439076 d:Subsidiary1 1 2024-04-01 2025-03-31 10439076 d:Subsidiary2 2024-04-01 2025-03-31 10439076 d:Subsidiary2 1 2024-04-01 2025-03-31 10439076 d:Subsidiary3 2024-04-01 2025-03-31 10439076 d:Subsidiary3 1 2024-04-01 2025-03-31 10439076 d:Subsidiary4 2024-04-01 2025-03-31 10439076 d:Subsidiary4 1 2024-04-01 2025-03-31 10439076 d:Subsidiary5 2024-04-01 2025-03-31 10439076 d:Subsidiary5 1 2024-04-01 2025-03-31 10439076 c:Consolidated 2025-03-31 10439076 c:ConsolidatedGroupCompanyAccounts 2024-04-01 2025-03-31 10439076 1 2024-04-01 2025-03-31 10439076 5 2024-04-01 2025-03-31 10439076 6 2024-04-01 2025-03-31 10439076 e:PoundSterling 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10439076 ENVIRONMENTAL GROUP LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
ENVIRONMENTAL GROUP LIMITED COMPANY INFORMATION
Directors | G M E Beglan
| C H J Foster
| G J Lawrence
| A P Smith
| D W Wickins (resigned 10 July 2024)
Registered number | 10439076
Registered office | Aspect House
| Honywood Road
| Basildon
| SS14 3DS
Independent auditors | Barnes Roffe Audit Limited
| Chartered Accountants & Statutory Auditor
| Charles Lake House
| Claire Causeway
| Crossways Business Park
| Dartford
| Kent
| DA2 6QA
ENVIRONMENTAL GROUP LIMITED CONTENTS
| Page
Group strategic report | 1
Directors' report | 2 - 4
Independent auditors' report | 5 - 8
Consolidated statement of comprehensive income | 9
Consolidated balance sheet | 10
Company balance sheet | 11
Consolidated statement of changes in equity | 12
Company statement of changes in equity | 13
Consolidated statement of cash flows | 14 - 15
Notes to the financial statements | 16 - 35
ENVIRONMENTAL GROUP LIMITED GROUP STRATEGIC REPORT FOR THE YEAR ENDED 31 MARCH 2025
Introduction
The directors present their strategic report accompanying the financial statements for the period ended 31 March 2025.
Business review
The directors are satisfied with the group's activity and trading performance. Group EBITDA increased in the year and remains postive. The group continues to focus on service delivery and maintaining strong client relationships.
Principal risks and uncertainties
The management of the business and the execution of the group's strategy are subject to a number of risks. The key business risks and uncertainties affecting the group continue to relate to the competitive market and legislative changes.
Financial key performance indicators
Given the straightforward nature of the business, the group's directors are of the opinion that analysis using KPIs is not necessary for an understanding of the development, performance or position of the business. This report was approved by the board and signed on its behalf.
A P Smith Director
Date: 19 November 2025
Page 1
ENVIRONMENTAL GROUP LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2025 The directors present their report and the financial statements for the year ended 31 March 2025.
Directors' responsibilities statement
The directors are responsible for preparing the group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the group's financial statements and then apply them consistently; ∙make judgments 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 group 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 the group and to 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and dividends
The loss for the year, after taxation, amounted to £680,177 (2024 - loss £752,007). The directors do not recommend payment of final dividend (2024: £Nil)
Directors
The directors who served during the year were:
G M E Beglan
C H J Foster
G J Lawrence
A P Smith
D W Wickins (resigned 10 July 2024)
Charitable donations
During the year the group made charitable contributions of £8,758 (2024- £7,698)
Environmental matters
The group will seek to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The group has complied with all applicable legislation andr egulations. Page 2
ENVIRONMENTAL GROUP LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Research and development activities
We continue to invest in the areas of new technology to manage and improve workflow and the enhancement of quality control systems. The directors regard this investment as integral to the continuing success of the business and to ensuring we provide our customers with the service levels and quality of work they have come to expect.
Disabled employees
The group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the company’s policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.
Future developments
The external commercial environment is expected to remain competitive in 2025-26 as general economic conditions remain challenging. We remain confident that we will maintain a similar level of business this year and are well placed to take advantage of the economic recovery when it happens.
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the company and the group's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the group's auditors are aware of that information.
Post balance sheet events
The group's business plans remain robust even in the current economic situation. In addition ongoing support is offered by the directors. Short term intercompany and bank invoice discounting facilities are expected to remain in place. The group completed a restructuring of its financing and ownership arrangements in May 2025. As part of this restructuring, long-term loans from directors were significantly reduced from £10.4m to £3.6m. The refinancing has strengthened the company’s financial position subsequent to the reporting period. On this basis, the accounts have been prepared on the going concern basis.
Auditors
After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006. Page 3
ENVIRONMENTAL GROUP LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 This report was approved by the board and signed on its behalf.
A P Smith Director
Date: 19 November 2025
Page 4
ENVIRONMENTAL GROUP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ENVIRONMENTAL GROUP LIMITED
Opinion
We have audited the financial statements of Environmental Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of 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). In our opinion the financial statements: ∙give a true and fair view of the state of the group's and of the parent company's affairs as at 31 March 2025 and of the group's loss 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 directors' 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 group's or the parent company'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 directors with respect to going concern are described in the relevant sections of this report. Page 5
ENVIRONMENTAL GROUP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ENVIRONMENTAL GROUP LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report. 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or ∙the parent company 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' responsibilities statement set out on page 2, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so. Page 6
ENVIRONMENTAL GROUP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ENVIRONMENTAL GROUP LIMITED (CONTINUED)
Auditors' 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 Auditors' 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 Group financial statements. 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: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with law and regulations, was as follows: • The engagement partner ensured that the engagement team collectively had the appropriate competence capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; • We identified the laws and regulations applicable to the group through discussion with directors and other management, and from our commercial knowledge and experience of the relevant sector in which the group operates; • The specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, are as follows; o Companies Act 2006 o FRS102 o ISO 9001, 14001 and 45001 standards o Health and Safety legislation, including ARCA (Asbestos Removal Contractors Association) o Employment legislation o Tax legislation • We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, reviewing board minutes and inspecting relevant legal and other correspondence and; • Laws and regulations were communicated within the audit team at the planning meeting, and during the audit as any further laws and regulation were identified. The audit team remained alert to instances of non compliance throughout the audit. We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur by: • Making enquires of management as to where they consider there was susceptibility to fraud and their knowledge of actual suspected and alleged fraud; • Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; • Reviewing the financial statements and testing the disclosures against supporting documentation; • Performing analytical procedures to identify any unusual or unexpected trends or anomalies;- • Inspecting and testing journal entries to identify unusual or unexpected transactions; • Assessing whether judgement and assumptions made in determining significant accounting estimates, including certain year end accruals, were indicative of management bias; and • Investigating the rationale behind significant transactions, or transactions that are unusual or outside the company’s usual course of business. Page 7
ENVIRONMENTAL GROUP LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ENVIRONMENTAL GROUP LIMITED (CONTINUED) The areas that we identified as being susceptible to misstatement through fraud were: • Management bias in the estimates and judgements made; • Management override of controls; and • Posting of unusual journals or transactions. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Use of our report
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 Auditors' 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. Mario Cientanni (Senior statutory auditor) for and on behalf of Barnes Roffe Audit Limited Chartered Accountants Statutory Auditor Charles Lake House Claire Causeway Crossways Business Park Dartford Kent DA2 6QA 5 December 2025 Page 8
ENVIRONMENTAL GROUP LIMITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024
Note | £ | £
Turnover | 4 | 23,142,011 | 19,250,538
Cost of sales |  | (15,210,811) | (11,793,755)
Gross profit |  | 7,931,200 | 7,456,783
Administrative expenses |  | (8,058,534) | (7,695,051)
Operating loss | 5 | (127,334) | (238,268)
Interest payable and similar expenses | 9 | (438,212) | (347,728)
Loss before taxation |  | (565,546) | (585,996)
Tax on loss | 10 | (114,631) | (166,011)
Loss for the financial year |  | (680,177) | (752,007)
(Loss) for the year attributable to: |  |  |
Owners of the parent company |  | (680,177) | (752,007)
|  | (680,177) | (752,007)
There were no recognised gains and losses for 2025 or 2024 other than those included in the consolidated statement of comprehensive income.
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 16 to 35 form part of these financial statements.
Page 9
ENVIRONMENTAL GROUP LIMITED REGISTERED NUMBER: 10439076 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 11 |  | 1,905,652 |  | 2,994,593
Tangible assets | 12 |  | 1,881,310 |  | 2,508,941
|  |  | 3,786,962 |  | 5,503,534
Current assets |  |  |  |  |
Stocks | 14 | 543,132 |  | 537,528 |
Debtors: amounts falling due within one year | 15 | 4,669,694 |  | 3,431,672 |
Cash at bank and in hand | 16 | 1,397,074 |  | 118,964 |
|  | 6,609,900 |  | 4,088,164 |
Creditors: amounts falling due within one year | 17 | (6,995,989) |  | (5,395,757) |
Net current liabilities |  |  | (386,089) |  | (1,307,593)
Total assets less current liabilities |  |  | 3,400,873 |  | 4,195,941
Creditors: amounts falling due after more than one year | 18 |  | (11,994,408) |  | (12,100,441)
Provisions for liabilities |  |  |  |  |
Deferred taxation | 22 |  | (36,874) |  | (45,732)
Net liabilities |  |  | (8,630,409) |  | (7,950,232)
Capital and reserves |  |  |  |  |
Called up share capital | 23 |  | 1,174,219 |  | 1,174,219
Other reserves |  |  | 489,900 |  | 1,402,488
Profit and loss account |  |  | (10,294,528) |  | (10,526,939)
|  |  | (8,630,409) |  | (7,950,232)
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
A P Smith
Director
Date: 19 November 2025
The notes on pages 16 to 35 form part of these financial statements. Page 10
ENVIRONMENTAL GROUP LIMITED REGISTERED NUMBER: 10439076 COMPANY BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 13 |  | 18,500,000 |  | 18,500,000
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 15 | 142,553 |  | 142,553 |
Cash at bank and in hand | 16 | - |  | 930 |
|  | 142,553 |  | 143,483 |
Creditors: amounts falling due within one year | 17 | (7,701,794) |  | (6,098,062) |
Net current liabilities |  |  | (7,559,241) |  | (5,954,579)
Total assets less current liabilities |  |  | 10,940,759 |  | 12,545,421
Creditors: amounts falling due after more than one year | 18 |  | (10,395,168) |  | (11,837,642)
Net assets |  |  | 545,591 |  | 707,779
Capital and reserves |  |  |  |  |
Called up share capital | 23 |  | 1,174,219 |  | 1,174,219
Profit and loss account |  |  | (628,628) |  | (466,440)
|  |  | 545,591 |  | 707,779
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
A P Smith
Director
Date: 19 November 2025
The notes on pages 16 to 35 form part of these financial statements. Page 11
ENVIRONMENTAL GROUP LIMITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Other reserves | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 April 2024 | 1,174,219 | 1,402,488 | (10,526,939) | (7,950,232)
Loss for the year | - | - | (680,177) | (680,177)
Transfer to/from profit and loss account | - | (912,588) | 912,588 | -
At 31 March 2025 | 1,174,219 | 489,900 | (10,294,528) | (8,630,409)
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2024
| Called up share capital | Revaluation reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 April 2023 (as previously stated) | 1,174,219 | 1,244,988 | (9,617,432) | (7,198,225)
Prior year adjustment - correction of error | - | 157,500 | (157,500) | -
At 1 April 2023 (as restated) | 1,174,219 | 1,402,488 | (9,774,932) | (7,198,225)
Loss for the year | - | - | (752,007) | (752,007)
At 31 March 2024 | 1,174,219 | 1,402,488 | (10,526,939) | (7,950,232)
| The notes on pages 16 to 35 form part of these financial statements.
Page 12
ENVIRONMENTAL GROUP LIMITED COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2025
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2024 | 1,174,219 | (466,440) | 707,779
Loss for the year | - | (162,188) | (162,188)
At 31 March 2025 | 1,174,219 | (628,628) | 545,591
COMPANY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2023 | 1,174,219 | (346,405) | 827,814
Loss for the year | - | (120,035) | (120,035)
At 31 March 2024 | 1,174,219 | (466,440) | 707,779
| The notes on pages 16 to 35 form part of these financial statements.
Page 13
ENVIRONMENTAL GROUP LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Loss for the financial year | (680,177) | (752,007)
Adjustments for: |  |
Amortisation of intangible assets | 1,088,941 | 1,135,529
Depreciation of tangible assets | 152,040 | 196,804
Profit on disposal of tangible assets | (40,662) | (49,232)
Interest paid | 438,212 | 347,728
Taxation charge | 114,631 | 166,011
(Increase) in stocks | (5,604) | (59,679)
(Increase)/decrease in debtors | (1,238,022) | 94,501
Increase in creditors | 1,896,794 | 17,186
Corporation tax (paid) | (113,560) | (28,635)
Net cash generated from operating activities | 1,612,593 | 1,068,206
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (1,310,743) | (27,352)
Sale of tangible fixed assets | 2,191,030 | 50,488
HP interest paid | (20,937) | (7,130)
Net cash from investing activities | 859,350 | 16,006
Page 14
ENVIRONMENTAL GROUP LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
|  | 2025 | 2024
|  | £ | £
Cash flows from financing activities |  |
Repayment of loans | (2,035,810) | (593,336)
Repayment of/new finance leases | (91,579) | (62,762)
Interest paid | (417,275) | (340,598)
Net cash used in financing activities | (2,544,664) | (996,696)
Net (decrease)/increase in cash and cash equivalents | (72,721) | 87,516
Cash and cash equivalents at beginning of year | (936,400) | (1,023,916)
Cash and cash equivalents at the end of year | (1,009,121) | (936,400)
Cash and cash equivalents at the end of year comprise: |  |
Cash at bank and in hand | 1,397,074 | 118,964
Bank overdrafts | (2,406,195) | (1,055,364)
| (1,009,121) | (936,400)
The notes on pages 16 to 35 form part of these financial statements.
Page 15
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Environmental Group Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Aspect House, Honywood Road, Basildon, SS14 3DS. The principal activity of the company is that of a holding company. The principal activity of the group is that of asbestos risk management and removal 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgment in applying the group's accounting policies (see note 3). The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The following principal accounting policies have been applied:
| 2.2 | Basis of consolidation
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
| 2.3 | Going concern
The group's business plans remain robust even in the current economic situation. In addition to ongoing support offered by the directors, short term intercompany and bank invoice discounting facilities are expected to remain in place. The group amortisation of goodwill charge of £1,135,529 (2024: £1,135,529) and associated long term debt of £10,395,168 (2024: £12,430,978) exist following an MBO in 2017 and exist purely at group level and are not being called upon at present. The group completed a restructuring of its financing and ownership arrangements in May 2025. As part of this restructuring, long-term loans from directors were significantly reduced from £10,395,168 to £3,675,000. Long term loans from directors will not be recalled until such time that the group can repay them without jeopardising its ability to continue trading as a going concern or without replacement finance being obtained. The refinancing has strengthened the company’s financial position subsequent to the reporting period and on this basis, the financial statements have been prepared on the going concern basis. Page 16
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the group has transferred the significant risks and rewards of ownership to the buyer; ∙the group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the group will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the group will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Operating leases: the group as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Page 17
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Sale and leaseback
Where the company enters into a sale and leaseback transaction that results in a finance lease, the asset is re-recognised within property, plant and equipment at the lower of its fair value and the present value of the minimum lease payments, and a corresponding liability is established. Any gain arising on the transaction is recognised only to the extent that it relates to the rights transferred to the lessor. The portion of the gain attributable to the rights retained by the company is deferred and amortised to the profit and loss account over the lease term in proportion to the depreciation and finance charges recognised on the leased asset. Depreciation is charged on the leased asset in accordance with the company’s policy for similar owned assets. Finance costs are allocated to each accounting period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability. Lease obligations are included as liabilities net of finance charges allocated to future periods.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.9 | Pensions
Defined contribution pension plan The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the group in independently administered funds. Page 18
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.10 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company and the group operate and generate income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and ∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.11 | Intangible assets
Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Page 19
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.12 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.
|  |  |  | Freehold property | - | 2.5% straight line
|  |  |  | Right-of-use asset | - | 10 years straight line
|  |  |  | Leasehold property | - | 10 years straight line
|  |  |  | Plant and machinery | - | 10% to 25% straight line
|  |  |  | Motor vehicles | - | 25% straight line
|  |  |  | Fixtures and fittings | - | 10% to 25% straight line
|  |  |  | Office equipment | - | 33% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.13 | Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
| 2.14 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 20
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.15 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.16 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.17 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the group's cash management.
| 2.18 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.19 | Provisions for liabilities
Provisions are made where an event has taken place that gives the group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the group becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance Sheet.
| 2.20 | Invoice discounting
The group discounts its trade debts. The accounting policy is to include trade debtors discounted with recourse under trade debtors due within one year and to record the returnable element of the finance advanced under creditors due within one year. Discount fees are charged to the Statement of Comprehensive Income when reasonably foreseeable.
| 2.21 | Financial instruments
The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 Page 21
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.21 | Financial instruments (continued)
to all of its financial instruments. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
a) Critical judgements in applying the company's accounting policies No significant judgements have had to be made by the group in preparing these financial statements. b) Key accounting estimates and assumptions The group has made key assumptions regarding the useful economic life of both intangible and tangible fixed assets and this is further described in notes 2.1 and 2.1 respectively of the accounting policies.
4. | Turnover
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| United Kingdom | 23,142,011 | 19,250,538
|  | 23,142,011 | 19,250,538
| All turnover arose within the United Kingdom.
Page 22
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Operating loss
| The operating loss is stated after charging:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation of tangible fixed assets | 182,890 | 153,471
| Amortisation of intangible assets, including goodwill | 1,088,941 | 1,135,529
| Other operating lease rentals | 317,665 | 184,711
| Defined contribution pension costs | 99,714 | 88,185
6. | Auditors' remuneration
| During the year, the group obtained the following services from the company's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements | 33,525 | 29,500
Page 23
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Wages and salaries | 9,266,302 | 8,692,832
| Social security costs | 55,477 | 61,827
| Cost of defined contribution scheme | 99,714 | 90,099
|  | 9,421,493 | 8,844,758
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | Group | Group | Company | Company
|  |  | 2025 | 2024 | 2025 | 2024
|  |  | No. | No. | No. | No.
|  | Directors | 9 | 9 | 4 | 4
|  | Operative | 108 | 118 | - | -
|  | Admin, finance and other support staff | 58 | 63 | - | -
|  |  | 175 | 190 | 4 | 4
8. | Directors' remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 1,104,923 | 991,621
| Group contributions to defined contribution pension schemes | 54,823 | 38,800
|  | 1,159,746 | 1,030,421
| During the year retirement benefits were accruing to 9 directors (2024 - 9) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £211,457 (2024 - £211,064).
| The value of the group's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £10,000 (2024 - £10,000).
Page 24
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest payable | 218,828 | 297,968
| Other loan interest payable | 41,523 | 9,322
| Finance leases and hire purchase contracts | 20,937 | 7,130
| Other interest payable | 156,924 | 33,308
10. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 121,044 | 161,215
| Adjustments in respect of previous periods | 2,445 | -
| Total current tax | 123,489 | 161,215
| Deferred tax |  |
| Origination and reversal of timing differences | (8,858) | 4,796
|  | 114,631 | 166,011
Page 25
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Loss on ordinary activities before tax | (565,546) | (565,546)
| Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | (141,387) | (146,499)
| Effects of: |  |
| Non-tax deductible amortisation of goodwill and impairment | 283,882 | 283,882
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 90,592 | 17,218
| Capital allowances for year (in excess of)/lower than depreciation | (99,432) | 18,922
| Profit on disposal of fixed assets | (10,166) | (12,308)
| Deferred taxation | (8,858) | 4,796
| Total tax charge for the year | 114,631 | 166,011
| Factors that may affect future tax charges
There are no other factors that may affect future tax charges. Page 26
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Intangible assets
| Group and Company
|  | Goodwill
|  | £
| Cost |
| At 1 April 2024 | 11,294,298
| At 31 March 2025 | 11,294,298
| Amortisation |
| At 1 April 2024 | 8,299,705
| Charge for the year on owned assets | 1,088,941
| At 31 March 2025 | 9,388,646
| Net book value |
| At 31 March 2025 | 1,905,652
| At 31 March 2024 | 2,994,593
Page 27
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
12. | Tangible fixed assets
| Group
|  | Freehold property | Long-term leasehold property | Right-of-use Asset | Plant and machinery | Motor vehicles | Fixtures and fittings
|  | £ | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |  |
| At 1 April 2024 | 3,311,030 | 172,964 | - | 1,571,093 | 648,091 | 953,442
| Additions | - | - | 1,151,189 | 9,935 | 364,036 | 89,785
| Disposals | (2,090,000) | - | - | - | (589,565) | -
| At 31 March 2025 | 1,221,030 | 172,964 | 1,151,189 | 1,581,028 | 422,562 | 1,043,227
| Depreciation |  |  |  |  |  |
| At 1 April 2024 | 979,636 | 153,963 | - | 1,547,088 | 579,267 | 887,725
| Charge for the year on owned assets | 15,190 | 11,548 | 11,761 | 9,270 | 68,894 | 35,377
| Disposals | - | - | - | - | (589,029) | -
| At 31 March 2025 | 994,826 | 165,511 | 11,761 | 1,556,358 | 59,132 | 923,102
| Net book value |  |  |  |  |  |
| At 31 March 2025 | 226,204 | 7,453 | 1,139,428 | 24,670 | 363,430 | 120,125
| At 31 March 2024 | 2,331,394 | 19,001 | - | 24,005 | 68,824 | 65,717
Page 28
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12.Tangible fixed assets (continued)
|  | Total
|  | £
| Cost or valuation |
| At 1 April 2024 | 6,656,620
| Additions | 1,614,945
| Disposals | (2,679,565)
| At 31 March 2025 | 5,592,000
| Depreciation |
| At 1 April 2024 | 4,147,679
| Charge for the year on owned assets | 152,040
| Disposals | (589,029)
| At 31 March 2025 | 3,710,690
| Net book value |
| At 31 March 2025 | 1,881,310
| At 31 March 2024 | 2,508,941
Page 29
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
13. | Fixed asset investments
| Company
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 April 2024 | 18,500,000
| At 31 March 2025 | 18,500,000
| Subsidiary undertakings
| The following were subsidiary undertakings of the company:
| Name | Registered office | Principal activity | Class of shares | Holding
| Grantis Group Limited | (A) | Head Office Administration | Ordinary | 100%
| Aspect Contracts Limited | (A) | Asbestos Risk Management | Ordinary | 100%
| Aspect Contracts (Asbestos) Limited | (A) | Property Rental | Ordinary | 100%
| R&F Insulation Limited | (B) | Asbestos Risk Management | Ordinary | 100%
| Grade 3 Limited | (C) | Asbestos Risk Management | Ordinary | 100%
| (A) - Aspect House, Honywood Road, Basildon, Essex, SS14 3DS (B) - Unit 5 Hall Road Industrial Estate, Hall Road, Southminster, Essex, CM0 7DA (C) - Bendel House, Temple Street, Hull, HU5 1AD
Page 30
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
14. | Stocks
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Raw materials and consumables | 543,132 | 537,528
|  | 543,132 | 537,528
| The difference between purchase price or production cost of stocks and their replacement cost is not material.
15. | Debtors
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Trade debtors | 3,308,479 | 2,823,093 | - | -
| Amounts owed by group undertakings | - | - | 142,553 | 142,553
| Other debtors | 133,542 | 59,856 | - | -
| Prepayments and accrued income | 1,227,673 | 548,723 | - | -
|  | 4,669,694 | 3,431,672 | 142,553 | 142,553
16. | Cash and cash equivalents
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Cash at bank and in hand | 1,397,074 | 118,964 | - | 930
| Less: bank overdrafts | (2,406,195) | (1,055,364) | - | -
|  | (1,009,121) | (936,400) | - | 930
Page 31
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
17. | Creditors: Amounts falling due within one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank overdrafts | 2,406,195 | 1,055,364 | - | -
| Bank loans | - | 593,336 | - | 593,336
| Trade creditors | 1,932,626 | 1,615,139 | - | -
| Amounts owed to group undertakings | - | - | 7,701,794 | 5,497,880
| Corporation tax | 283,196 | 271,225 | - | -
| Other taxation and social security | 1,570,020 | 1,316,418 | - | -
| Obligations under finance lease and hire purchase contracts | 155,730 | 31,814 | - | -
| Other creditors | 123,735 | 304,559 | - | -
| Accruals and deferred income | 524,487 | 207,902 | - | 6,846
|  | 6,995,989 | 5,395,757 | 7,701,794 | 6,098,062
18. | Creditors: Amounts falling due after more than one year
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Bank loans | - | 1,442,474 | - | 1,442,474
| Net obligations under finance leases and hire purchase contracts | 1,336,441 | - | - | -
| Other creditors | 10,657,967 | 10,657,967 | 10,395,168 | 10,395,168
|  | 11,994,408 | 12,100,441 | 10,395,168 | 11,837,642
Included in bank loans and overdrafts are amounts due on the group's invoice discounting facility amounting to £2,406,195 (2024: £1,055,364). These amounts are secured by means of mortgage debenture over all assets of the group and in the form of a cross guarantee. Also included in bank loans and overdraft are bank loans due with one year of £nil (2024: £1,055,364) and more than one year of £nil (2024: £1,442,474) are secured by means of mortgage debenture over all assets of the group and in the form of a cross guarantee by all group companies. Page 32
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
19. | Loans
| Analysis of the maturity of loans is given below:
|  | Group | Group | Company | Company
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Amounts falling due within one year |  |  |  |
| Bank loans | - | 593,336 | - | 593,336
| Amounts falling due 1-2 years |  |  |  |
| Bank loans | - | 593,336 | - | 593,336
| Amounts falling due 2-5 years |  |  |  |
| Bank loans | - | 849,138 | - | 849,138
|  | - | 2,035,810 | - | 2,035,810
20. | Lease liability
| Minimum lease payments under hire purchase fall due as follows:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Within one year | 85,099 | -
| Between 1-5 years | 406,523 | -
| Over 5 years | 688,337 | -
|  | 1,179,959 | -
21. | Hire purchase and finance leases
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Within one year | 70,631 | 31,814
| Between 1-5 years | 241,581 | -
|  | 312,212 | 31,814
| Liabilities in respect of finance leases and hire purchase are secured on the assets to which they relate.
Page 33
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
22. | Deferred taxation
| Group
|  | 2025
|  | £
| At beginning of year | (45,732)
| Charged to profit or loss | 8,858
| At end of year | (36,874)
|  | 2025
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Accelerated capital allowances | (36,874) | (45,732)
|  | (36,874) | (45,732)
23. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 939,375 (2024 - 939,375) Ordinary shares of £1.00 each | 939,375 | 939,375
|  | 234,844 (2024 - 234,844) B ordinary shares of £1.00 each | 234,844 | 234,844
|  |  | 1,174,219 | 1,174,219
24. | Contingent liabilities
The company has given cross guarantees in favour of Allied Irish Bank (GB) in respect of the borrowings of Aspect Contracts (Asbestos) Limited, Grade 3 Limited, R&F Insulations Limited and Aspect Contracts Limited all of which are group companies. The maximum potential liability under the terms of these guarantees as at 31 March 2025 was £2,351,417 (2024: £3,091,174). The directors consider the likelihood that the company will be called upon to meet any claims under these guarantees to be remote and accordingly have made no provision in these accounts. Page 34
ENVIRONMENTAL GROUP LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
25. | Pension commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £99,714 (2024: £88,185). Outstanding contributions payable to the fund at the balance sheet date amounted to £25,810 (2024: £31,186).
26. | Commitments under operating leases
| At 31 March 2025 the group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  | Group | Group
|  | 2025 | 2024
|  | £ | £
| Not later than 1 year | - | 4,371
|  | - | 4,371
27. | Related party transactions
| Included within other creditors due after more than one year is an amount owed to a director of £10,395,168 (2024: £10,395,168).
28. | Controlling party
There as no one controlling party at 31 March 2025. From 30 May 2025, Environmental Group Holdings Limited, a company incorporated in England and Wales, became the ultimate parent company. There continues to be no one controlling party.
Page 35