REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
ENVIROMETRICS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
ENVIROMETRICS LIMITED |
ENVIROMETRICS LIMITED (REGISTERED NUMBER: 01674821) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 June 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
ENVIROMETRICS LIMITED |
COMPANY INFORMATION |
for the year ended 30 June 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ENVIROMETRICS LIMITED (REGISTERED NUMBER: 01674821) |
STATEMENT OF FINANCIAL POSITION |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ENVIROMETRICS LIMITED (REGISTERED NUMBER: 01674821) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Envirometrics Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The accounts have been prepared on a going concern basis on the strength of confirmation from the parent company and the director that they will continue to provide financial support by not seeking repayment of loan accounts due until other creditors have been paid in full. |
Significant judgements and estimates |
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates. |
Critical judgements in applying the company's policies |
No significant judgements have had to be made by management in preparing these financial statements. |
Critical accounting estimates and assumptions |
The directors do not consider that any estimates or assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Revenue |
Revenue comprises rental income receivable and services supplied net of value added tax. Services are recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration. |
Property, plant and equipment |
Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses. |
Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life. |
Plant and machinery | 15% on reducing balance |
Fixtures and fittings | 15% on reducing balance |
Computer equipment | 33% on cost |
Investments in subsidiaries |
Investments in subsidiary undertakings are initially measured at cost. After initial recognition investments in subsidiary undertakings are measured at cost less any accumulated impairment losses. Changes in impairment are recognised in the profit and loss account during the period in which they arise. |
Investment property |
Investment properties are initially measured at cost, including transaction costs. After initial recognition investment properties whose fair value can be measured reliably are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit and loss account during the period in which they arise. |
ENVIROMETRICS LIMITED (REGISTERED NUMBER: 01674821) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties. |
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2022 |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
ENVIROMETRICS LIMITED (REGISTERED NUMBER: 01674821) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2022 |
and 30 June 2023 |
PROVISIONS |
At 1 July 2022 | 118,125 |
Provision written back | (28,144 | ) |
At 30 June 2023 | 89,981 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2022 |
and 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
The fair value of investment property at each year end has been arrived at on the basis of valuations carried out by the director of the company who is not a professionally qualified valuer. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
ENVIROMETRICS LIMITED (REGISTERED NUMBER: 01674821) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 June 2023 |
10. | RESERVES |
Included within retained earnings is an amount of £192,908 (2022 - £192,908) relating to the fair value revaluation of the investment property which is non distributable. |
11. | CONTINGENT LIABILITIES |
The company has given unlimited guarantees to its bankers by way of fixed and floating charges over all of the company assets and undertaking in favour a subsidiary. The bank borrowings of the subsidiary subject to the guarantee at 30 June 2023 were £198,679 (2022 - £215,536). |
12. | RELATED PARTY DISCLOSURES |
The director has made an interest free loan to the company. At the year end the amount due was £30,147 (2022 - £60,147). The amount is due after one year. |
During the year the director received no remuneration (2022 - nil). |
Interest free loans also exist between the company and other group companies. The amounts owed to other group companies at the year end was £40,876 (2022 - £10,876) while the amounts owed by other group companies at the year end was £44,683 (2022 - £23,686). |