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REGISTERED NUMBER: 07368807 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

FOR

REIGATE ENVIRONMENTAL SERVICES LIMITED

REIGATE ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 07368807)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2022




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


REIGATE ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 07368807)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 107,909 147,079

CURRENT ASSETS
Inventories 12,225 35,225
Debtors 5 1,067,246 1,104,223
Cash at bank and in hand 462,103 201,663
1,541,574 1,341,111
CREDITORS
Amounts falling due within one year 6 1,217,899 822,940
NET CURRENT ASSETS 323,675 518,171
TOTAL ASSETS LESS CURRENT
LIABILITIES

431,584

665,250

CREDITORS
Amounts falling due after more than one
year

7

(154,793

)

(211,707

)

PROVISIONS FOR LIABILITIES 10 (20,503 ) (27,945 )
NET ASSETS 256,288 425,598

CAPITAL AND RESERVES
Called up share capital 11 11 11
Retained earnings 256,277 425,587
SHAREHOLDERS' FUNDS 256,288 425,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:




Mr P G Catacos - Director


REIGATE ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 07368807)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 SEPTEMBER 2022

1. STATUTORY INFORMATION

Reigate Environmental Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07368807

Registered office: 42 Ormside Way
Holmethorpe Industrial Estate,
Redhill
Surrey
RH1 2LW

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% on reducing balance.
Fixtures and fittings - 25% on reducing balance.
Motor vehicles - 25% on cost

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.


REIGATE ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 07368807)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2022

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2021 - 42 ) .

REIGATE ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 07368807)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2022

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2021 273,777 16,506 128,599 418,882
Additions 3,019 - - 3,019
At 30 September 2022 276,796 16,506 128,599 421,901
DEPRECIATION
At 1 October 2021 149,428 8,991 113,384 271,803
Charge for year 31,254 1,756 9,179 42,189
At 30 September 2022 180,682 10,747 122,563 313,992
NET BOOK VALUE
At 30 September 2022 96,114 5,759 6,036 107,909
At 30 September 2021 124,349 7,515 15,215 147,079

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2021
and 30 September 2022 72,098
DEPRECIATION
At 1 October 2021
and 30 September 2022 45,857
NET BOOK VALUE
At 30 September 2022 26,241
At 30 September 2021 26,241

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 785,044 817,043
Other debtors 282,202 287,180
1,067,246 1,104,223

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 50,000 50,078
Hire purchase contracts (see note 8) 11,767 10,692
Trade creditors 380,120 272,246
Amounts owed to group undertakings 530,888 372,706
Taxation and social security 161,968 52,862
Other creditors 83,156 64,356
1,217,899 822,940

REIGATE ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 07368807)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 146,442 191,589
Hire purchase contracts (see note 8) 8,351 20,118
154,793 211,707

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2022 2021
£    £   
Net obligations repayable:
Within one year 11,767 10,692
Between one and five years 8,351 20,118
20,118 30,810

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 196,442 241,667

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

10. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 27,945 27,945
Other timing differences (7,442 ) -
20,503 27,945

Deferred
tax
£   
Balance at 1 October 2021 27,945
Provided during year (7,442 )
Balance at 30 September 2022 20,503

11. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1 Ordinary £1 1 11
10 B Ordinary £1 10 -
11 11

REIGATE ENVIRONMENTAL SERVICES LIMITED (REGISTERED NUMBER: 07368807)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 SEPTEMBER 2022

12. OTHER FINANCIAL COMMITMENTS

The company has annual commitment of £34,500 under non-cancellable operating leases.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.