Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28true2022-03-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07969398 2022-03-01 2023-02-28 07969398 2021-03-01 2022-02-28 07969398 2023-02-28 07969398 2022-02-28 07969398 2021-03-01 07969398 c:Director1 2022-03-01 2023-02-28 07969398 d:Buildings 2022-03-01 2023-02-28 07969398 d:Buildings 2023-02-28 07969398 d:Buildings 2022-02-28 07969398 d:Buildings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07969398 d:PlantMachinery 2022-03-01 2023-02-28 07969398 d:PlantMachinery 2023-02-28 07969398 d:PlantMachinery 2022-02-28 07969398 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07969398 d:MotorVehicles 2022-03-01 2023-02-28 07969398 d:MotorVehicles 2023-02-28 07969398 d:MotorVehicles 2022-02-28 07969398 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07969398 d:OfficeEquipment 2022-03-01 2023-02-28 07969398 d:OfficeEquipment 2023-02-28 07969398 d:OfficeEquipment 2022-02-28 07969398 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07969398 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 07969398 d:CurrentFinancialInstruments 2023-02-28 07969398 d:CurrentFinancialInstruments 2022-02-28 07969398 d:Non-currentFinancialInstruments 2023-02-28 07969398 d:Non-currentFinancialInstruments 2022-02-28 07969398 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07969398 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 07969398 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 07969398 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 07969398 d:ShareCapital 2023-02-28 07969398 d:ShareCapital 2022-02-28 07969398 d:RetainedEarningsAccumulatedLosses 2023-02-28 07969398 d:RetainedEarningsAccumulatedLosses 2022-02-28 07969398 c:FRS102 2022-03-01 2023-02-28 07969398 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 07969398 c:FullAccounts 2022-03-01 2023-02-28 07969398 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 07969398 2 2022-03-01 2023-02-28 07969398 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 07969398 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 07969398 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 07969398 d:TaxLossesCarry-forwardsDeferredTax 2022-02-28 iso4217:GBP xbrli:pure

Registered number: 07969398










BUSINESS WASTE MANAGEMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
BUSINESS WASTE MANAGEMENT LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
BUSINESS WASTE MANAGEMENT LIMITED
REGISTERED NUMBER:07969398

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
115,018
28,364

Current assets
  

Stocks
  
128,511
106,128

Debtors: amounts falling due within one year
 5 
338,022
342,809

Cash at bank and in hand
 6 
19,291
238,596

  
485,824
687,533

Creditors: amounts falling due within one year
 7 
(107,074)
(238,716)

Net current assets
  
 
 
378,750
 
 
448,817

Total assets less current liabilities
  
493,768
477,181

Creditors: amounts falling due after more than one year
 8 
(102,083)
(137,084)

Provisions for liabilities
  

Deferred tax
 9 
(13,786)
(6,416)

  
 
 
(13,786)
 
 
(6,416)

Net assets
  
377,899
333,681


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
376,899
332,681

  
377,899
333,681

Page 1

 
BUSINESS WASTE MANAGEMENT LIMITED
REGISTERED NUMBER:07969398
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
Mr R J Harris
Director

Date: 11 October 2023

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Business Waste Management Limited is a private company limited by its shares, domiciled in England, registration number 07969398. The registered office is Century House, The Lakes, Northampton, NN4 7HD and principal place of business is The Long Barn, Eakley Lanes, Stoke Goldington, Bucks, MK16 8LP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP rounded to the nearest £1.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements
-
Depreciation at 20% per annum
Plant and machinery
-
Depreciation at 20% per annum
Motor vehicles
-
Depreciation at 25% per annum
Office equipment
-
Depreciation at 15% per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Property improve-ments
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 March 2022
6,538
16,718
53,209
9,465
85,930


Additions
-
45,128
57,500
3,761
106,389



At 28 February 2023

6,538
61,846
110,709
13,226
192,319



Depreciation


At 1 March 2022
3,792
3,964
43,671
6,139
57,566


Charge for the year on owned assets
-
7,141
11,520
1,074
19,735



At 28 February 2023

3,792
11,105
55,191
7,213
77,301



Net book value



At 28 February 2023
2,746
50,741
55,518
6,013
115,018



At 28 February 2022
2,746
12,754
9,538
3,326
28,364

Page 7

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
47,445
63,993

Other debtors
288,702
271,514

Tax recoverable
1,875
7,302

338,022
342,809



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
19,291
238,596



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
35,000
35,000

Trade creditors
39,378
54,646

Other taxation and social security
22,787
21,428

Other creditors
1,412
6,834

Accruals and deferred income
8,497
120,808

107,074
238,716


The bank loan is secured by a Debenture over the Company's assets.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
102,083
137,084


The bank loan is secured by a Debenture over the Company's assets.

Page 8

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
6,416
7,391


Charged to profit or loss
7,370
(975)



At end of year
13,786
6,416

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
27,806
6,416

Tax losses carried forward
(14,020)
-

(13,786)
(6,416)


10.


Transactions with directors

At 28 February 2023 the Company owed the director £1,412 (2022: £6,834). Interest of £514 (2022 - £417) has been charged.
At 28 February 2023, the Company was owed £286,001 (2022 - £263,813) by a Company of which Mr R Harris is a director of. This loan has no fixed repayment date.


11.


Controlling party

The Company was under the control of Mr R J Harris throughout the year. Mr R J Harris is the managing director and majority shareholder.

 
Page 9