Premier Waste Services (UK) Ltd 04014556 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is that of waste disposal Digita Accounts Production Advanced 6.30.9574.0 true true 04014556 2022-09-01 2023-08-31 04014556 2023-08-31 04014556 bus:OrdinaryShareClass1 2023-08-31 04014556 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-31 04014556 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-08-31 04014556 core:CurrentFinancialInstruments 2023-08-31 04014556 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04014556 core:Non-currentFinancialInstruments 2023-08-31 04014556 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04014556 core:FurnitureFittings 2023-08-31 04014556 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 04014556 core:MotorVehicles 2023-08-31 04014556 core:PlantMachinery 2023-08-31 04014556 bus:SmallEntities 2022-09-01 2023-08-31 04014556 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 04014556 bus:FullAccounts 2022-09-01 2023-08-31 04014556 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 04014556 bus:RegisteredOffice 2022-09-01 2023-08-31 04014556 bus:CompanySecretary1 2022-09-01 2023-08-31 04014556 bus:Director1 2022-09-01 2023-08-31 04014556 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 04014556 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04014556 core:FurnitureFittings 2022-09-01 2023-08-31 04014556 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04014556 core:LeaseholdImprovements 2022-09-01 2023-08-31 04014556 core:MotorVehicles 2022-09-01 2023-08-31 04014556 core:PlantMachinery 2022-09-01 2023-08-31 04014556 countries:England 2022-09-01 2023-08-31 04014556 2022-08-31 04014556 core:FurnitureFittings 2022-08-31 04014556 core:LandBuildings core:OwnedOrFreeholdAssets 2022-08-31 04014556 core:MotorVehicles 2022-08-31 04014556 core:PlantMachinery 2022-08-31 04014556 2021-09-01 2022-08-31 04014556 2022-08-31 04014556 bus:OrdinaryShareClass1 2022-08-31 04014556 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-08-31 04014556 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-08-31 04014556 core:CurrentFinancialInstruments 2022-08-31 04014556 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 04014556 core:Non-currentFinancialInstruments 2022-08-31 04014556 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 04014556 core:FurnitureFittings 2022-08-31 04014556 core:LandBuildings core:OwnedOrFreeholdAssets 2022-08-31 04014556 core:MotorVehicles 2022-08-31 04014556 core:PlantMachinery 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04014556

Premier Waste Services (UK) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Premier Waste Services (UK) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Premier Waste Services (UK) Ltd

Company Information

Director

Mr Frank Ridley

Company secretary

Mr Robert Ridley

Registered office

Old Station Goods Yard
Sheffield Road
Newton
Hyde
Cheshire
SK14 2JP

Accountants

D C Accounting Solutions Limited
Chartered Accountants and Business Advisers
Central House
Central Drive
Romiley
Stockport
Cheshire
SK6 4PE

 

Premier Waste Services (UK) Ltd

(Registration number: 04014556)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,177,598

688,138

Current assets

 

Debtors

5

1,149,894

921,674

Cash at bank and in hand

 

1,547,768

1,262,804

 

2,697,662

2,184,478

Creditors: Amounts falling due within one year

6

(1,462,219)

(1,271,435)

Net current assets

 

1,235,443

913,043

Total assets less current liabilities

 

2,413,041

1,601,181

Creditors: Amounts falling due after more than one year

6

(18,333)

(70,462)

Provisions for liabilities

(248,424)

(102,214)

Net assets

 

2,146,284

1,428,505

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

2,146,184

1,428,405

Shareholders' funds

 

2,146,284

1,428,505

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 October 2023
 

.........................................
Mr Frank Ridley
Director

 

Premier Waste Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Old Station Goods Yard
Sheffield Road
Newton
Hyde
Cheshire
SK14 2JP

These financial statements were authorised for issue by the director on 9 October 2023.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, 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.

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.

 

Premier Waste Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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 balance sheet 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 and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Transfer station

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Premier Waste Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 37 (2022 - 37).

 

Premier Waste Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 September 2022

123,618

58,381

2,433,870

1,084,623

Additions

-

317

480,328

311,245

Disposals

-

-

(296,672)

(135,000)

At 31 August 2023

123,618

58,698

2,617,526

1,260,868

Depreciation

At 1 September 2022

123,618

55,417

1,940,851

892,468

Charge for the year

-

480

116,264

81,257

Eliminated on disposal

-

-

(197,885)

(129,358)

At 31 August 2023

123,618

55,897

1,859,230

844,367

Carrying amount

At 31 August 2023

-

2,801

758,296

416,501

At 31 August 2022

-

2,964

493,019

192,155

Total
£

Cost or valuation

At 1 September 2022

3,700,492

Additions

791,890

Disposals

(431,672)

At 31 August 2023

4,060,710

Depreciation

At 1 September 2022

3,012,354

Charge for the year

198,001

Eliminated on disposal

(327,243)

At 31 August 2023

2,883,112

Carrying amount

At 31 August 2023

1,177,598

At 31 August 2022

688,138

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings.
 

 

Premier Waste Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

1,117,562

895,752

Prepayments

32,332

25,922

 

1,149,894

921,674

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

52,538

68,284

Trade creditors

 

687,955

545,229

Taxation and social security

 

288,509

210,073

Accruals and deferred income

 

77,526

94,993

Other creditors

 

355,691

352,856

 

1,462,219

1,271,435

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

18,333

70,462

 

Premier Waste Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

18,333

38,960

Hire purchase contracts

-

31,502

18,333

70,462

2023
£

2022
£

Current loans and borrowings

Bank borrowings

19,836

25,289

Bank overdrafts

-

120

Hire purchase contracts

32,702

42,875

52,538

68,284