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REGISTERED NUMBER: 01401089 (England and Wales)










Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Swadlincote Specialised Tipping Services
Limited

Swadlincote Specialised Tipping Services
Limited (Registered number: 01401089)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Swadlincote Specialised Tipping Services
Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr J R Petcher





REGISTERED OFFICE: 123 Springfield Road
Swadlincote
Derbyshire
DE11 0BU





REGISTERED NUMBER: 01401089 (England and Wales)





ACCOUNTANTS: Bourne & Co
Chartered Accountants
6 Lichfield Street
Burton-on-Trent
Staffordshire
DE14 3RD

Swadlincote Specialised Tipping Services
Limited (Registered number: 01401089)

Abridged Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,772 12,722
Investment property 5 1,210,000 1,105,000
1,258,772 1,117,722

CURRENT ASSETS
Debtors 455,342 377,855
Cash at bank 60,562 142,064
515,904 519,919
CREDITORS
Amounts falling due within one year 138,418 137,593
NET CURRENT ASSETS 377,486 382,326
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,636,258

1,500,048

PROVISIONS FOR LIABILITIES 69,246 35,109
NET ASSETS 1,567,012 1,464,939

Swadlincote Specialised Tipping Services
Limited (Registered number: 01401089)

Abridged Balance Sheet - continued
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 6 17,000 17,000
Capital redemption reserve 7 7,000 7,000
Non distributable reserves 7 403,587 317,681
Retained earnings 7 1,139,425 1,123,258
SHAREHOLDERS' FUNDS 1,567,012 1,464,939

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 11 October 2023 and were signed by:





Mr J R Petcher - Director


Swadlincote Specialised Tipping Services
Limited (Registered number: 01401089)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Swadlincote Specialised Tipping Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the net invoiced provision of services, excluding value added tax.
Revenue is recognised once the service has been satisfactorily delivered.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 15% on a reducing balance basis
Fixtures and fittings - 15% on a reducing balance basis
Motor vehicles - 25% on a reducing balance basis

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

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 balance sheet date.


Swadlincote Specialised Tipping Services
Limited (Registered number: 01401089)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Operating leases
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.

Operating leases
Rentals receivable under operating leases are credited to the profit and loss account when they fall due.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Swadlincote Specialised Tipping Services
Limited (Registered number: 01401089)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 43,671
Additions 54,827
Disposals (26,073 )
At 28 February 2023 72,425
DEPRECIATION
At 1 March 2022 30,949
Charge for year 13,962
Eliminated on disposal (21,258 )
At 28 February 2023 23,653
NET BOOK VALUE
At 28 February 2023 48,772
At 28 February 2022 12,722

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 1,105,000
Revaluations 105,000
At 28 February 2023 1,210,000
NET BOOK VALUE
At 28 February 2023 1,210,000
At 28 February 2022 1,105,000

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2020 369,877
Valuation in 2023 105,000
Cost 735,123
1,210,000

Swadlincote Specialised Tipping Services
Limited (Registered number: 01401089)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

28.2.23 28.2.22
£    £   
Cost 735,123 735,123

Investment properties were valued on an open market basis on 28 February 2023 by the sole director of the company .

The company's investment properties are available for letting under operating leases.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
17,000 Ordinary £1 17,000 17,000

7. RESERVES
Capital Non
Retained redemption distributable
earnings reserve reserves Totals
£    £    £    £   

At 1 March 2022 1,123,258 7,000 317,681 1,447,939
Profit for the year 108,873 108,873
Dividends (6,800 ) (6,800 )
Transfer (to)/from revaluation
reserve (85,906 ) - 85,906 -
At 28 February 2023 1,139,425 7,000 403,587 1,550,012

8. OTHER FINANCIAL COMMITMENTS

At the reporting end date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as follows: £36,443 (2022: £9,859).