Ivy House Environmental Limited - Period Ending 2016-03-31

Registration number: 06031854

Ivy House Environmental Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

LJ Hanbury Ltd
Chartered Certified Accountants
143 Tamworth Road
Long Eaton
Nottingham
NG10 1BY

Ivy House Environmental Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ivy House Environmental Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ivy House Environmental Limited for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Ivy House Environmental Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ivy House Environmental Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ivy House Environmental Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ivy House Environmental Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ivy House Environmental Limited. You consider that Ivy House Environmental Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ivy House Environmental Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

LJ Hanbury Ltd
Chartered Certified Accountants
143 Tamworth Road
Long Eaton
Nottingham
NG10 1BY

24 June 2016

Page 1

Ivy House Environmental Limited
(Registration number: 06031854)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					20,620			12,632
Current assets
Debtors					175,346			66,704
Cash at bank and in hand					185,827			112,802
					361,173			179,506
Creditors: Amounts falling due within one year					(121,881)			(59,824)
Net current assets					239,292			119,682
Total assets less current liabilities					259,912			132,314
Provisions for liabilities					(4,124)			-
Net assets					255,788			132,314
Capital and reserves
Called up share capital		3			102			102
Profit and loss account					255,686			132,212
Shareholders' funds					255,788			132,314

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 24 June 2016 and signed on its behalf by:

.........................................
Mr Richard Sutton
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Ivy House Environmental Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25 % on cost
Fixtures and fittings	33 % on cost
Office Equipment	33 % on cost

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

Ivy House Environmental Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		27,336			27,336
Additions		26,153			26,153
Disposals		(13,680)			(13,680)
At 31 March 2016		39,809			39,809
Depreciation
At 1 April 2015		14,704			14,704
Charge for the year		7,905			7,905
Eliminated on disposals		(3,420)			(3,420)
At 31 March 2016		19,189			19,189
Net book value
At 31 March 2016		20,620			20,620
At 31 March 2015		12,632			12,632

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Share Capital of £1 each		102			102			102			102

Page 4