Registration number:
Stevenage Skip Hire Limited
for the Year Ended 31 December 2021
Stevenage Skip Hire Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Stevenage Skip Hire Limited
Company Information
Director |
Mr Robert Bell |
Registered office |
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Accountants |
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Stevenage Skip Hire Limited
(Registration number: 05656492)
Balance Sheet as at 31 December 2021
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2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Stevenage Skip Hire Limited
(Registration number: 05656492)
Balance Sheet as at 31 December 2021
For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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
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Stevenage Skip Hire Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Envirowaste Recycling Centre
Jacks Hill
Graveley
Hertfordshire
SG4 7EQ
These financial statements were authorised for issue by the
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements
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. |
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 sales/value added tax, 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.
Stevenage Skip Hire Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Government grants
Grants relating to revenue are recognised in income on a systematic basis over the periods in which the business recognises related costs which the grant is intended to compensate.
A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax 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.
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, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% Reducing balance |
Motor vehicles |
25% Reducing balance |
Office equipment |
25% Reducing balance |
Fixtures & fittings |
25% Reducing balance |
Leasehold improvements |
1% Straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Stevenage Skip Hire Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price.
Trade debtors are reviewed quarterly for any bad debts and any adjustment is made accordingly
through the profit and loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Stevenage Skip Hire Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Tangible assets |
Long term leasehold |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 January 2021 |
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Additions |
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Disposals |
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At 31 December 2021 |
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Depreciation |
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At 1 January 2021 |
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Charge for the year |
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Eliminated on disposal |
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At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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Included within the net book value of land and buildings above is £880,110 (2020 - £889,273) in respect of long leasehold land and buildings.
Stevenage Skip Hire Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Stocks |
2021 |
2020 |
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Raw materials and consumables |
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Debtors |
2021 |
2020 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2021 |
2020 |
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Due after one year |
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Loans and borrowings |
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Stevenage Skip Hire Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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10 |
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10 |
Loans and borrowings |
2021 |
2020 |
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Non-current loans and borrowings |
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Bank borrowings |
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2021 |
2020 |
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Current loans and borrowings |
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Bank borrowings |
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Bank borrowings
The carrying amount of the NatWest Loan at year end is £ The company’s loan is secured by a fixed and floating charge over all assets of the company in favour of National Westminster Bank Plc. |
Other borrowings
The carrying amount of Bounce Back Loan at year end is £250,000 (2020 - £Nil). During the year, the company acquired a loan under the Coronavirus Business Interruption Loan Scheme (CBILS), delivered by British Business Bank, the loan has been provided by Funding Circle.
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Stevenage Skip Hire Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Related party transactions |
Transactions with the director |
2021 |
At 1 January 2021 |
Advances to directors |
Repayments by director |
At 31 December 2021 |
Mr Robert Bell |
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Directors loan account |
( |
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( |
( |
2020 |
At 1 January 2020 |
Advances to directors |
Repayments by director |
At 31 December 2020 |
Mr Robert Bell |
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Directors loan account |
( |
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The loan is provided interest free and repayable on demand.
Summary of transactions with other related parties
At the balance sheet date the company was owed £493,500 (2020: £198,500) by Bell Property Rentals Ltd, a company under common directorship. There are no terms relating to the payment of interest or repayment of capital on this loan.
Ultimate controlling party |
The ultimate controlling party is