Company Registration No. 07848948 (England and Wales)
ACL ENVIRONMENTAL SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
PAGES FOR FILING WITH REGISTRAR
ACL ENVIRONMENTAL SERVICES LIMITED
COMPANY INFORMATION
Director
H Sockett
Company number
07848948
Registered office
Ireland Close
Staveley
Chesterfield
Derbyshire
S43 3PE
Accountants
Hart Shaw LLP
Europa Link
Sheffield Business Park
Sheffield
S9 1XU
ACL ENVIRONMENTAL SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ACL ENVIRONMENTAL SERVICES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2018
31 January 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
98,636
114,927
Current assets
Debtors
4
881,861
742,123
Cash at bank and in hand
32,329
32,709
914,190
774,832
Creditors: amounts falling due within one year
5
(603,244)
(489,045)
Net current assets
310,946
285,787
Total assets less current liabilities
409,582
400,714
Creditors: amounts falling due after more than one year
6
(3,020)
(9,400)
Provisions for liabilities
(14,400)
(19,900)
Net assets
392,162
371,414
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
392,161
371,413
Total equity
392,162
371,414
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
ACL ENVIRONMENTAL SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2018
31 January 2018
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 March 2018
H Sockett
Director
Company Registration No. 07848948
ACL ENVIRONMENTAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
- 3 -
1
Accounting policies
Company information
ACL Environmental Services Limited is a
private
company
, limited by shares
and
incorporated in England and Wales.
The registered office is
Ireland Close, Staveley, Chesterfield, Derbyshire, S43 3PE.
1.1
Accounting convention
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
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.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10% reducing balance
Fixtures, fittings and equipment
10% reducing balance/ 33% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
ACL ENVIRONMENTAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2018
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Leases
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 the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2017 - 5).
ACL ENVIRONMENTAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2018
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2017
203,797
Additions
31,250
Disposals
(45,000)
At 31 January 2018
190,047
Depreciation and impairment
At 1 February 2017
88,870
Depreciation charged in the year
22,229
Eliminated in respect of disposals
(19,688)
At 31 January 2018
91,411
Carrying amount
At 31 January 2018
98,636
At 31 January 2017
114,927
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
36,538
49,739
Amounts owed by group undertakings
843,666
690,042
Other debtors
375
1,081
Prepayments and accrued income
1,282
1,261
881,861
742,123
ACL ENVIRONMENTAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2018
- 6 -
5
Creditors: amounts falling due within one year
2018
2017
£
£
Obligations under finance leases
24,012
27,801
Trade creditors
38,808
48,291
Amounts due to group undertakings
526,868
410,100
Corporation tax
9,383
-
Accruals and deferred income
4,173
2,853
603,244
489,045
Obligations under finance leases at the year end of £24,012 (2017 £27,801) are secured against the assets they represent.
6
Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
3,020
9,400
Obligations under finance leases at the year end of £3,020 (2017 £9,400) are secured against the assets they represent.
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1 ordinary share of £1 each
1
1
1
1
8
Parent company
The ultimate parent company is The ACL Companies Limited, a company registered in England and Wales
.
The ultimate controlling party is H Sockett, who is a director and major shareholder of The ACL Companies Limited.