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REGISTERED NUMBER: 03703747 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SAWARD TIPPING SERVICES LTD

SAWARD TIPPING SERVICES LTD (REGISTERED NUMBER: 03703747)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAWARD TIPPING SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: P Saward





SECRETARY: H E Saward





REGISTERED OFFICE: Unit 5T5
Temple Boat Yard
Knight Road
Rochester
Kent
ME2 2AG





REGISTERED NUMBER: 03703747 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

SAWARD TIPPING SERVICES LTD (REGISTERED NUMBER: 03703747)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 681,627 664,932

CURRENT ASSETS
Debtors 6 290,052 246,537
Cash at bank 226,876 141,635
516,928 388,172
CREDITORS
Amounts falling due within one year 7 338,154 377,109
NET CURRENT ASSETS 178,774 11,063
TOTAL ASSETS LESS CURRENT
LIABILITIES

860,401

675,995

CREDITORS
Amounts falling due after more than one
year

8

(191,595

)

(248,842

)

PROVISIONS FOR LIABILITIES (169,892 ) (125,815 )
NET ASSETS 498,914 301,338

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 498,814 301,238
SHAREHOLDERS' FUNDS 498,914 301,338

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

SAWARD TIPPING SERVICES LTD (REGISTERED NUMBER: 03703747)

BALANCE SHEET - continued
31 MARCH 2023


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 director and authorised for issue on 24 October 2023 and were signed by:





P Saward - Director


SAWARD TIPPING SERVICES LTD (REGISTERED NUMBER: 03703747)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Saward Tipping Services Ltd 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. STATEMENT OF COMPLIANCE

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 presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover 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. Turnover is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes. Turnover is not recognised when goods or services are exchanged for goods or services that are of a similar nature and value or when the transaction lacks commercial substance.

Sale of goods

Turnover 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 the 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;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

The percentage of completion method is used to calculate the revenue recognised at the period end.

Turnover from the rendering of services is recognised when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

SAWARD TIPPING SERVICES LTD (REGISTERED NUMBER: 03703747)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and 20% on cost
Fixtures and fittings - 25% on reducing balance

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.

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.

Hire purchase and leasing commitments
Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

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.

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

SAWARD TIPPING SERVICES LTD (REGISTERED NUMBER: 03703747)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 1,289,324 26,181 1,315,505
Additions 299,672 750 300,422
Disposals (286,275 ) - (286,275 )
At 31 March 2023 1,302,721 26,931 1,329,652
DEPRECIATION
At 1 April 2022 633,216 17,357 650,573
Charge for year 138,817 2,394 141,211
Eliminated on disposal (143,759 ) - (143,759 )
At 31 March 2023 628,274 19,751 648,025
NET BOOK VALUE
At 31 March 2023 674,447 7,180 681,627
At 31 March 2022 656,108 8,824 664,932

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 289,475 200,856
Other debtors 577 45,681
290,052 246,537

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,931 9,686
Hire purchase contracts 99,752 105,528
Trade creditors 63,548 50,664
Taxation and social security 71,719 39,954
Other creditors 93,204 171,277
338,154 377,109

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,276 33,207
Hire purchase contracts 168,319 215,635
191,595 248,842

SAWARD TIPPING SERVICES LTD (REGISTERED NUMBER: 03703747)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. SECURED DEBTS

Net obligations under hire purchase contracts are secured on the specific assets financed.

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £64,330 (2022 - £101,090).

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
P Saward
Balance outstanding at start of year (36,252 ) (28,571 )
Amounts advanced 9,074 480
Amounts repaid (3,613 ) (8,161 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (30,791 ) (36,252 )

The loan from the director to the company is unsecured and repayable on demand. Interest is being charged at a rate of 12% per annum.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party at the balance sheet date is Mr P Saward.

From the 25th April 2023, the ultimately controlling party became Saward Group Ltd.