Environmental Projects Agency Limited - Period Ending 2017-03-31

Registration number: 03895242

Environmental Projects Agency Limited

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Environmental Projects Agency Limited

Contents

 

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 6

Environmental Projects Agency Limited

Registration number: 03895242

Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	3	50	50
Current assets
Debtors	4	86,554	187,400
Cash at bank and in hand		2,718	1,292
		89,272	188,692
Creditors: Amounts falling due within one year	5	(84,954)	(185,800)
Net current assets		4,318	2,892
Net assets		4,368	2,942
Capital and reserves
Profit and loss account		4,368	2,942
Total equity		4,368	2,942

The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 1

Environmental Projects Agency Limited

Registration number: 03895242

Balance Sheet as at 31 March 2017 (continued)

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 December 2017 and signed on its behalf by:
 

A R Bonham

Director

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

Environmental Projects Agency Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Page 3

Environmental Projects Agency Limited

Notes to the Financial Statements for the Year Ended 31 March 2017 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% straight line

Page 4

Environmental Projects Agency Limited

Notes to the Financial Statements for the Year Ended 31 March 2017 (continued)

3	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2016	12,265	12,265
At 31 March 2017	12,265	12,265
Depreciation
At 1 April 2016	12,215	12,215
At 31 March 2017	12,215	12,215
Carrying amount
At 31 March 2017	50	50
At 31 March 2016	50	50

4

Debtors

	2017 £	2016 £
Funds held on behalf of clients	86,554	187,400
Total current trade and other debtors	86,554	187,400

Page 5

Environmental Projects Agency Limited

Notes to the Financial Statements for the Year Ended 31 March 2017 (continued)

5

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Taxation and social security		132	171
Amounts owed to clients		84,822	185,629
		84,954	185,800

Page 6