Scott Bros. Environmental Services Ltd - Accounts to registrar (filleted) - small 22.3
Scott Bros. Environmental Services Ltd - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 30 June 2022 |
| for |
| Scott Bros. Environmental Services |
| Limited |
| Scott Bros. Environmental Services |
| Limited (Registered number: 03103929) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Scott Bros. Environmental Services |
| Limited |
| Company Information |
| for the Year Ended 30 June 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| 3 Kingfisher Court |
| Bowesfield Park |
| Stockton on Tees |
| TS18 3EX |
| SOLICITORS: |
| 17 Falcon Court |
| Preston Farm Industrial Estate |
| Stockton on Tees |
| TS18 3TU |
| Scott Bros. Environmental Services |
| Limited (Registered number: 03103929) |
| Balance Sheet |
| 30 June 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Revaluation reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Scott Bros. Environmental Services |
| Limited (Registered number: 03103929) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2022 |
| 1. | STATUTORY INFORMATION |
| Scott Bros. Environmental Services Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Notwithstanding the company's net current liabilities of £286,638 at 30 June 2022 (2021: £430,133) the financial statements have been prepared on a going concern basis. This basis assumes the continuing support of the group companies. The directors have received confirmation of such support. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Freehold land is not depreciated. |
| Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Scott Bros. Environmental Services |
| Limited (Registered number: 03103929) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Scott Bros. Environmental Services |
| Limited (Registered number: 03103929) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 July 2021 |
| Additions |
| At 30 June 2022 |
| DEPRECIATION |
| At 1 July 2021 |
| Charge for year |
| At 30 June 2022 |
| NET BOOK VALUE |
| At 30 June 2022 |
| At 30 June 2021 |
| Included in cost or valuation of land and buildings is freehold land of £ 9,944,901 (2021 - £ 9,944,901 ) which is not depreciated. |
| Cost or valuation at 30 June 2022 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2014 | 8,539,568 | - | 8,539,568 |
| Cost | 1,977,613 | 176,072 | 2,153,685 |
| 10,517,181 | 176,072 | 10,693,253 |
| If freehold property had not been revalued it would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 1,977,613 | 1,977,613 |
| Aggregate depreciation | 151,299 | 92,951 |
| Value of land in freehold land and buildings | 9,944,901 | 9,944,901 |
| In year end 30 June 2016, the freehold property was revalued for transition to FRS102 1A by Sanderson Weatherall on a fair value basis. This valuation has been incorporated as the deemed cost. |
| Scott Bros. Environmental Services |
| Limited (Registered number: 03103929) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2022 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| £ |
| COST OR VALUATION |
| At 1 July 2021 |
| Transfer to ownership | (150,000 | ) |
| At 30 June 2022 |
| DEPRECIATION |
| At 1 July 2021 |
| Charge for year |
| Transfer to ownership | (132,500 | ) |
| At 30 June 2022 |
| NET BOOK VALUE |
| At 30 June 2022 |
| At 30 June 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation |
| VAT | 48,286 | 26,689 |
| Accrued expenses |
| Scott Bros. Environmental Services |
| Limited (Registered number: 03103929) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2022 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Hire purchase contracts | - | 23,701 |
| The above amounts are secured against the assets to which they relate. |
| In addition, the company's bankers have taken a charge over the company's freehold property situated at Haverton Hill, to support a loan taken out by a fellow subsidiary company. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 9. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 July 2021 | 8,451,613 |
| Profit for the year | - |
| Deferred tax movement | - | (479,000 | ) | (479,000 | ) |
| At 30 June 2022 | 8,016,995 |
| Included in the above revaluation reserve is a deferred tax debit of £1,997,000 at 30 June 2022 (2021: £1,518,000). |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | PARENT/SUBSIDIARY RELATIONS |
| The immediate and ultimate parent company is Scott Bros. Holdings Limited. The parent's registered office address is the same as that of the company. These financial statements are included in the consolidated financial statements of Scott Bros. Holdings Limited. |