Company registration number 06782633 (England and Wales)
EMPARK RECYCLING COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
EMPARK RECYCLING COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
EMPARK RECYCLING COMPANY LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2023
31 January 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,913
911
Current assets
Debtors
4
531,199
675,501
Cash at bank and in hand
712,051
512,422
1,243,250
1,187,923
Creditors: amounts falling due within one year
5
(641,367)
(708,934)
Net current assets
601,883
478,989
Net assets
605,796
479,900
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
605,795
479,899
Total equity
605,796
479,900

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

EMPARK RECYCLING COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023
31 January 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 September 2023 and are signed on its behalf by:
A Payne
Director
Company registration number 06782633 (England and Wales)
EMPARK RECYCLING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 3 -
1
Accounting policies
Company information

Empark Recycling Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wymondley House, Front Street, Barnby in The Willows, Newark, Nottinghamshire, NG24 2SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services net of VAT.

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 dispatch 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 the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

EMPARK RECYCLING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised initially at transaction price.

1.6
Equity instruments

Share capital issued by the company is recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

EMPARK RECYCLING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 5 -
1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 February 2022
1,367
Additions
3,458
At 31 January 2023
4,825
Depreciation and impairment
At 1 February 2022
456
Depreciation charged in the year
456
At 31 January 2023
912
Carrying amount
At 31 January 2023
3,913
At 31 January 2022
911
EMPARK RECYCLING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 6 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
498,422
675,501
Other debtors
32,777
-
0
531,199
675,501
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
543,998
609,471
Corporation tax
40,400
36,456
Other taxation and social security
19,604
11,098
Other creditors
37,365
51,909
641,367
708,934
6
Directors' transactions

L oans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan to director
2.00
(18,038)
100,000
815
(50,000)
32,777
(18,038)
100,000
815
(50,000)
32,777

The above closing balance is included within other debtors.

2023-01-31 2022-02-01 false 12 September 2023 CCH Software CCH Accounts Production 2023.200 No description of principal activity A Payne J Kew 06782633 2022-02-01 2023-01-31 06782633 2023-01-31 06782633 2022-01-31 06782633 core:ComputerEquipment 2023-01-31 06782633 core:ComputerEquipment 2022-01-31 06782633 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 06782633 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 06782633 core:CurrentFinancialInstruments 2023-01-31 06782633 core:CurrentFinancialInstruments 2022-01-31 06782633 core:ShareCapital 2023-01-31 06782633 core:ShareCapital 2022-01-31 06782633 core:RetainedEarningsAccumulatedLosses 2023-01-31 06782633 core:RetainedEarningsAccumulatedLosses 2022-01-31 06782633 bus:Director1 2022-02-01 2023-01-31 06782633 core:ComputerEquipment 2022-02-01 2023-01-31 06782633 2021-02-01 2022-01-31 06782633 core:ComputerEquipment 2022-01-31 06782633 core:WithinOneYear 2023-01-31 06782633 core:WithinOneYear 2022-01-31 06782633 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 06782633 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 06782633 bus:FRS102 2022-02-01 2023-01-31 06782633 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 06782633 bus:Director2 2022-02-01 2023-01-31 06782633 bus:FullAccounts 2022-02-01 2023-01-31 xbrli:pure xbrli:shares iso4217:GBP