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REGISTERED NUMBER: 11874821 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Circular Economy Mid Wales Limited

Circular Economy Mid Wales Limited (Registered number: 11874821)

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


Circular Economy Mid Wales Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: T Chilton
J D Thorp
J A Harrington





REGISTERED OFFICE: 9 Broad Street
Newtown
Powys
SY16 2LU





REGISTERED NUMBER: 11874821 (England and Wales)





ACCOUNTANTS: Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY

Circular Economy Mid Wales Limited (Registered number: 11874821)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 426,516 491,824

CURRENT ASSETS
Debtors 4 4,863 55,505
Cash at bank and in hand 42,379 33,208
47,242 88,713
CREDITORS
Amounts falling due within one year 5 84,881 89,449
NET CURRENT LIABILITIES (37,639 ) (736 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

388,877

491,088

CREDITORS
Amounts falling due after more than one
year

6

(351,878

)

(453,872

)

PROVISIONS FOR LIABILITIES (1,163 ) -
NET ASSETS 35,836 37,216

RESERVES
Retained earnings 35,836 37,216
35,836 37,216

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 directors acknowledge their 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.

Circular Economy Mid Wales Limited (Registered number: 11874821)

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 Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





J A Harrington - Director


Circular Economy Mid Wales Limited (Registered number: 11874821)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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
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.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 9 ) .

Circular Economy Mid Wales Limited (Registered number: 11874821)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 310,067 221,709 531,776
Additions - 5,973 5,973
At 31 March 2023 310,067 227,682 537,749
DEPRECIATION
At 1 April 2022 15,503 24,449 39,952
Charge for year 15,504 55,777 71,281
At 31 March 2023 31,007 80,226 111,233
NET BOOK VALUE
At 31 March 2023 279,060 147,456 426,516
At 31 March 2022 294,564 197,260 491,824

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 150 40,009
Other debtors 4,713 15,496
4,863 55,505

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 5,702 9,075
Taxation and social security 3,557 4,065
Other creditors 75,622 76,309
84,881 89,449

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Other creditors 351,878 453,872