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Registration number: 06405100

Westcorn Enviro Waste Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2021

 

Westcorn Enviro Waste Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Westcorn Enviro Waste Ltd

(Registration number: 06405100)
Balance Sheet as at 30 November 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

961,500

976,570

Current assets

 

Debtors

5

148,306

123,403

Cash at bank and in hand

 

154,448

212,022

 

302,754

335,425

Creditors: Amounts falling due within one year

6

(121,378)

(174,058)

Net current assets

 

181,376

161,367

Total assets less current liabilities

 

1,142,876

1,137,937

Creditors: Amounts falling due after more than one year

6

(429,338)

(435,710)

Provisions for liabilities

(7,939)

(10,630)

Net assets

 

705,599

691,597

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

705,499

691,497

Shareholders' funds

 

705,599

691,597

For the financial year ending 30 November 2021 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.

 

Westcorn Enviro Waste Ltd

(Registration number: 06405100)
Balance Sheet as at 30 November 2021

Approved and authorised by the Board on 18 May 2022 and signed on its behalf by:
 

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

R J Cornish
Director

 

Westcorn Enviro Waste Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7a King Street
Frome
Somerset
BA11 1BH

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.

Revenue recognition

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements, and is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

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

 

Westcorn Enviro Waste Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

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

Plant and machinery

25% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

25% on cost

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business, and are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers, and are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs, and are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2020 - 8).

 

Westcorn Enviro Waste Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2020

909,266

108,507

214,615

1,232,388

Additions

-

2,484

-

2,484

At 30 November 2021

909,266

110,991

214,615

1,234,872

Depreciation

At 1 December 2020

-

73,896

181,922

255,818

Charge for the year

-

9,380

8,174

17,554

At 30 November 2021

-

83,276

190,096

273,372

Carrying amount

At 30 November 2021

909,266

27,715

24,519

961,500

At 30 November 2020

909,266

34,611

32,693

976,570

5

Debtors

2021
£

2020
£

Trade debtors

145,957

123,403

Prepayments

1,797

-

Other debtors

552

-

148,306

123,403

 

Westcorn Enviro Waste Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

6

Creditors

Amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Bank loans and overdrafts

7

22,574

32,574

Trade creditors

 

31,889

63,443

Taxation and social security

 

23,611

37,617

Accruals and deferred income

 

3,206

3,308

Other creditors

 

27,689

19,283

Corporation tax

 

12,409

17,833

 

121,378

174,058

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

7

429,338

435,710

The company has a fixed and floating charge over the Land at Knoll farm.

7

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

429,338

435,710

2021
£

2020
£

Current loans and borrowings

Bank borrowings

22,574

32,574