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No description of principal activities is disclosed
2018-07-01
Sage Accounts Production 19.0 - FRS102_2014
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1
2018-07-01
2019-06-30
Company registration number:
NI073010
Environmental Energy Investments Ltd
Unaudited filleted financial statements
30 June 2019
Barry Thompson and Company
Chartered Accountants
76-78 Church Street
Portadown
Environmental Energy Investments Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Environmental Energy Investments Ltd
Directors and other information
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Directors
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W Russell
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B Millar
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Company number
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NI073010
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Registered office
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First Floor
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54, Bridge Street
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Banbridge
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Co Down
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BT32 3JU
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Accountants
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Barry Thompson and Company
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76-78 Church Street
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Portadown
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Co Armagh
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Bankers
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Barclays Bank
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17 Castle Place
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Belfast
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BT1 1EL
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Environmental Energy Investments Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Environmental Energy Investments Ltd
Year ended 30 June 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Environmental Energy Investments Ltd for the year ended 30 June 2019 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of Environmental Energy Investments Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Environmental Energy Investments Ltd and state those matters that we have agreed to state to the board of directors of Environmental Energy Investments Ltd as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Environmental Energy Investments Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Environmental Energy Investments Ltd 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 profit of Environmental Energy Investments Ltd. You consider that Environmental Energy Investments Ltd 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 Environmental Energy Investments Ltd. 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.
Barry Thompson and Company
Chartered Accountants
76-78 Church Street
Portadown
Co Armagh
5 August 2020
Environmental Energy Investments Ltd
Statement of financial position
30 June 2019
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2019
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2018
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Note
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£
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£
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£
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£
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Fixed assets
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Tangible assets
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5
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666
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2,310
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________
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________
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666
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2,310
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Current assets
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Debtors
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6
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883,279
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753,607
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Cash at bank and in hand
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5,406
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2,682
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________
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________
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888,685
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756,289
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Creditors: amounts falling due
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within one year
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7
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(
39,309)
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(
13,480)
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________
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________
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Net current assets
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849,376
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742,809
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________
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________
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Total assets less current liabilities
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850,042
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745,119
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________
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________
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Net assets
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850,042
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745,119
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________
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________
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Capital and reserves
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Ordinary share capital
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600
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600
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Preference share capital
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1,075,000
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1,075,000
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Profit and loss account
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(
225,558)
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(
330,481)
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________
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________
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Shareholders funds
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850,042
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745,119
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________
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________
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For the year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
05 August 2020
, and are signed on behalf of the board by:
W Russell
Director
Company registration number:
NI073010
Environmental Energy Investments Ltd
Notes to the financial statements
Year ended 30 June 2019
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is First Floor, 54, Bridge Street, Banbridge, Co Down, BT32 3JU.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Current tax is recognised on taxable profit for the current and past periods. It is measured at the amount expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences. Deferred tax assets and liabilities recognised have not been discounted.
Tangible assets
The tangible fixed assets are recorded at their purchase cost, together with any incidental costs of acquisition less accumulated depreciation and impairment losses.
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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
The fair values of the company's financial assets, cash and cash equivalents and financial liabilities are assumed to be approximate to their book value. The company does not enter into derivative financial instruments.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
2
(2018:
3
).
5.
Tangible assets
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Fixtures, fittings and equipment
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Total
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£
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£
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Cost
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At 1 July 2018 and 30 June 2019
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10,931
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10,931
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________
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________
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Depreciation
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At 1 July 2018
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8,621
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8,621
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Charge for the year
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1,644
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1,644
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________
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________
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At 30 June 2019
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10,265
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10,265
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________
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________
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Carrying amount
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At 30 June 2019
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666
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666
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________
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________
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At 30 June 2018
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2,310
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2,310
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________
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________
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6.
Debtors
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2019
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2018
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£
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£
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Other debtors
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883,279
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753,607
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________
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________
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7.
Creditors: amounts falling due within one year
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2019
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2018
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£
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£
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Trade creditors
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33,841
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-
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Social security and other taxes
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3,474
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10,022
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Other creditors
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1,994
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3,458
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________
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________
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39,309
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13,480
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________
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________
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8.
Controlling party
The company is controlled by
J Russell
who owns 73% of the ordinary share capital .