Aadept Environmental Limited Company accounts

COMPANY REGISTRATION NUMBER: 04650829

AADEPT ENVIRONMENTAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

31 January 2018

AADEPT ENVIRONMENTAL LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2018

Contents	Page

Director's report	1

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	2

Income statement	3

Statement of financial position	4

Notes to the financial statements	6

AADEPT ENVIRONMENTAL LIMITED

DIRECTOR'S REPORT

YEAR ENDED 31 JANUARY 2018

The director presents his report and the unaudited financial statements of the company for the year ended 31 January 2018 .

Director

The director who served the company during the year was as follows:

S K Williams

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 24 October 2018 and signed on behalf of the board by:

S K Williams
Director

Registered office:

Onega House

112 Main Road

Sidcup

Kent

United Kingdom

DA14 6NE

AADEPT ENVIRONMENTAL LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF AADEPT ENVIRONMENTAL LIMITED

YEAR ENDED 31 JANUARY 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Aadept Environmental Limited for the year ended 31 January 2018, which comprise the income statement, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Aadept Environmental Limited in accordance with the terms of our engagement letter dated 11 October 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Aadept Environmental Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aadept Environmental Limited and its director for our work or for this report.

It is your duty to ensure that Aadept Environmental Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Aadept Environmental Limited. You consider that Aadept 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 financial statements of Aadept 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 financial statements.

DYER & CO Chartered Accountants

Onega House 112 Main Road Sidcup Kent DA14 6NE

24 October 2018

AADEPT ENVIRONMENTAL LIMITED

INCOME STATEMENT

YEAR ENDED 31 JANUARY 2018

	2018	2017
Note	£	£

Administrative expenses	571	–
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OPERATING LOSS	( 571)	–

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LOSS BEFORE TAXATION	( 571)	–

Tax on loss	–	–
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LOSS FOR THE FINANCIAL YEAR	( 571)	–
	-----	-----

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

AADEPT ENVIRONMENTAL LIMITED

STATEMENT OF FINANCIAL POSITION

31 January 2018

	2018		2017
Note	£	£	£

CURRENT ASSETS

Debtors	5	51,471	48,084
Cash at bank and in hand		18,246	19,559
		----------	----------
		69,717	67,643

CREDITORS: amounts falling due within one year	6	96,480		93,815
		----------		----------
NET CURRENT LIABILITIES			26,763	26,172
			----------	----------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 26,763)	( 26,172)

PROVISIONS

Taxation including deferred tax	335	355
	----------	----------
NET LIABILITIES	( 27,098)	( 26,527)
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AADEPT ENVIRONMENTAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 January 2018

	2018		2017
Note	£	£	£

CAPITAL AND RESERVES

Called up share capital	120	120
Profit and loss account	( 27,218)	( 26,647)
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SHAREHOLDERS DEFICIT	( 27,098)	( 26,527)
	----------	----------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 October 2018 , and are signed on behalf of the board by:

S K Williams
Director

Company registration number: 04650829

AADEPT ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor Vehicles	-	25% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 February 2017 and 31 January 2018	15,359	4,790	20,149
	----------	--------	----------
Depreciation
At 1 February 2017 and 31 January 2018	15,359	4,790	20,149
	----------	--------	----------
Carrying amount
At 31 January 2018	–	–	–
	----------	--------	----------
At 31 January 2017	–	–	–
	----------	--------	----------

5. Debtors

	2018	2017
	£	£
Other debtors	51,471	48,084
	----------	----------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Corporation tax	–	22
Social security and other taxes	–	5,013
Other creditors	96,480	88,780
	----------	----------
	96,480	93,815
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7. Director's advances, credits and guarantees

At 31 January 2018 S K Williams owed Aadept Environmental Limited £51,472 (2017: £48,018). There are no terms attached to the loan provided to the director and it has been provided to the company interest free.