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REGISTERED NUMBER: 03888063 (England and Wales)


















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTORS: M P Mercer
Mrs E Mercer
Mrs L J Hughes
Mrs K A Smith
Mrs L K Meyrick





SECRETARY: Mrs E Mercer





REGISTERED OFFICE: Ex Council Depot
Wade Road
BASINGSTOKE
Hampshire
RG24 0PL





REGISTERED NUMBER: 03888063 (England and Wales)





AUDITORS: Fox & Co (Accountants) Ltd
The Clock House
Western Court
Bishop's Sutton.
Alresford
Hampshire
SO24 0AA

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

STRATEGIC REPORT
for the Year Ended 30 June 2023

The directors present their strategic report for the year ended 30 June 2023.

PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The principal activities of the company during the year were that of waste management operations ranging from wheelie bin & trade waste, skip and roll on off hire, muck away, haulage, recycling facilities and waste transfer facilities.

The directors have reviewed the company's performance with reference to relevant financial performance indicators and consider it to be good. The directors have also reviewed the risks faced by the company to enable them to develop strategies that will allow the company to continue to develop its business along similar lines in the future.

FUTURE DEVELOPMENTS
The director's fully expect the company to continue to be profitable in the future as it continues to implement new policies to maintain and enhance its efficiency in terms of energy usage, waste processing and recycling.

KEY PERFORMANCE INDICATORS
2023 2022

Gross profit % 23.75 28.48

Current ratio 2.45 1.80

The company remains able to cover its liabilities as they fall due.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The company's operations expose it to a variety of financial risks that include credit risk and liquidity risk. The directors regularly monitor such risks and uncertainties and ensure they are mitigated by putting appropriate processes in place. These risks include supplier price increases and supply chain issues, employees, competition in the marketplace and general economic conditions.The directors regularly review the company's financial requirements and the associated risks.

CREDIT RISK
The company monitors credit risk closely and considers its current policies of credit checks and applications of credit limits on all new customers meets its objectives of managing exposure to credit risk. The company has a credit insurance in place for customers, insuring customer's debts, to reduce the risk of bankruptcies of customers affecting the finances of the company.

LIQUIDITY RISK
The company closely monitors its access to bank and other credit facilities in comparison to its outstanding commitments to ensure it has sufficient funds to meet its obligations as they fall due. The company finance function produces regular forecasts which estimates the cash inflows and outflows, month by month, so that management can ensure that sufficient financing is in place as it is required.

ON BEHALF OF THE BOARD:





Mrs L K Meyrick - Director


12 January 2024

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

REPORT OF THE DIRECTORS
for the Year Ended 30 June 2023

The directors present their report with the financial statements of the company for the year ended 30 June 2023.

DIVIDENDS
An interim dividend of 1000 per share was paid on 30 June 2023. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 June 2023 will be £ 200,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

M P Mercer
Mrs E Mercer
Mrs L J Hughes
Mrs K A Smith
Mrs L K Meyrick

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Mrs L K Meyrick - Director


12 January 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED

Opinion
We have audited the financial statements of Basingstoke Skip Hire & Southern Waste Management Limited (the 'company') for the year ended 30 June 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- The company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined the laws and regulations which were most significant including the Companies Act and Health and Safety regulations. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

- We understood how the company is complying with those legal and regulatory frameworks by making enquiries of management, those responsible for legal and compliance procedures and the company secretary. We corroborated our inquiries through our review of supporting documentation.

- We considered whether the audit team had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.

- We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed included:
Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud
Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process
Challenging assumptions and judgements made by management in its significant accounting estimates
Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations

- As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential fraud was in the posting of unusual journals.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Iain Gilbert (Senior Statutory Auditor)
for and on behalf of Fox & Co (Accountants) Ltd
The Clock House
Western Court
Bishop's Sutton.
Alresford
Hampshire
SO24 0AA

12 January 2024

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

INCOME STATEMENT
for the Year Ended 30 June 2023

2023 2022
Notes £    £   

TURNOVER 9,766,889 9,867,232

Cost of sales 7,446,790 7,056,901
GROSS PROFIT 2,320,099 2,810,331

Administrative expenses 1,722,754 2,382,302
OPERATING PROFIT 4 597,345 428,029

Interest receivable and similar income 1,440 36
598,785 428,065

Interest payable and similar expenses 5 2,857 7,442
PROFIT BEFORE TAXATION 595,928 420,623

Tax on profit 6 338,957 31,307
PROFIT FOR THE FINANCIAL YEAR 256,971 389,316

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

OTHER COMPREHENSIVE INCOME
for the Year Ended 30 June 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 256,971 389,316


OTHER COMPREHENSIVE INCOME
Revaluation surplus - leasehold property - 592,029
Deferred tax provision on revaluation - (112,485 )
Income tax relating to components of other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

-

479,544
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

256,971

868,860

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 5,094,158 5,063,869
5,094,158 5,063,869

CURRENT ASSETS
Debtors 10 1,464,220 1,658,533
Cash at bank and in hand 1,876,971 2,087,752
3,341,191 3,746,285
CREDITORS
Amounts falling due within one year 11 1,366,335 2,077,694
NET CURRENT ASSETS 1,974,856 1,668,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,069,014

6,732,460

PROVISIONS FOR LIABILITIES 16 948,001 668,418
NET ASSETS 6,121,013 6,064,042

CAPITAL AND RESERVES
Called up share capital 17 200 200
Revaluation reserve 18 479,544 479,544
Retained earnings 18 5,641,269 5,584,298
SHAREHOLDERS' FUNDS 6,121,013 6,064,042

The financial statements were approved by the Board of Directors and authorised for issue on 12 January 2024 and were signed on its behalf by:





Mrs L K Meyrick - Director


BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

STATEMENT OF CHANGES IN EQUITY
for the Year Ended 30 June 2023

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 July 2021 200 5,439,982 - 5,440,182

Changes in equity
Dividends - (245,000 ) - (245,000 )
Total comprehensive income - 389,316 479,544 868,860
Balance at 30 June 2022 200 5,584,298 479,544 6,064,042

Changes in equity
Dividends - (200,000 ) - (200,000 )
Total comprehensive income - 256,971 - 256,971
Balance at 30 June 2023 200 5,641,269 479,544 6,121,013

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

CASH FLOW STATEMENT
for the Year Ended 30 June 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 987,283 1,124,267
Interest paid (2,857 ) (7,442 )
Tax paid (28,306 ) -
Net cash from operating activities 956,120 1,116,825

Cash flows from investing activities
Purchase of tangible fixed assets (687,774 ) (926,315 )
Sale of tangible fixed assets 117,877 598,037
Interest received 1,440 36
Net cash from investing activities (568,457 ) (328,242 )

Cash flows from financing activities
Loan repayments in year (175,000 ) (418,379 )
Capital repayments in year - (38,041 )
Amount introduced by directors 5,500 111,547
Amount withdrawn by directors (228,944 ) (4,523 )
Equity dividends paid (200,000 ) (245,000 )
Net cash from financing activities (598,444 ) (594,396 )

(Decrease)/increase in cash and cash equivalents (210,781 ) 194,187
Cash and cash equivalents at beginning of
year

2

2,087,752

1,893,565

Cash and cash equivalents at end of year 2 1,876,971 2,087,752

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

NOTES TO THE CASH FLOW STATEMENT
for the Year Ended 30 June 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 595,928 420,623
Depreciation charges 539,607 656,563
Finance costs 2,857 7,442
Finance income (1,440 ) (36 )
1,136,952 1,084,592
Decrease/(increase) in trade and other debtors 306,211 (413,538 )
(Decrease)/increase in trade and other creditors (455,880 ) 453,213
Cash generated from operations 987,283 1,124,267

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 1,876,971 2,087,752
Year ended 30 June 2022
30.6.22 1.7.21
£    £   
Cash and cash equivalents 2,087,752 1,893,565


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.22 Cash flow At 30.6.23
£    £    £   
Net cash
Cash at bank and in hand 2,087,752 (210,781 ) 1,876,971
2,087,752 (210,781 ) 1,876,971
Debt
Debts falling due within 1 year (175,000 ) 175,000 -
(175,000 ) 175,000 -
Total 1,912,752 (35,781 ) 1,876,971

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Basingstoke Skip Hire & Southern Waste Management 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Judgements and key sources of estimation uncertainty
Apart from judgements involving estimates, no other significant judgements have been made which have a significant effect on the amounts recognised in the financial statements.

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

Assessment of asset lives
Rates of depreciation
Revaluation of long leasehold property

Turnover
Turnover represents the invoiced value of skip hire and waste management services. Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its expected remaining useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - over period of lease
Plant & machinery - 15% on reducing balance and 10% on cost
Motor vehicles - 15% on reducing balance and 10% on cost
Computer equipment - 15% on reducing balance

Long leasehold properties were revalued in 2022 by professional valuers Carter Jonas. Subsequent depreciation charges are calculated on a straight line basis over the remaining period of the leases, using the revaluation model.

Other fixed assets are stated at their cost prices, less accumulated depreciation and amounts recognised in respect of impairment.

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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.

Taxation
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 obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership of the leased asset to the group. All other leases are classified as operating leases.

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.

Debtors and creditors (receivables and payables)
Short term debtors and creditors are measured at transaction price, less any impairment. Loans receivable and payable 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.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 2,549,049 2,558,554
Social security costs 274,055 248,092
Other pension costs 65,536 58,638
2,888,640 2,865,284

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2023 2022

Administration and management 14 14
Operational 50 46
64 60

2023 2022
£    £   
Directors' remuneration 362,266 370,417
Directors' pension contributions to money purchase schemes 7,904 8,023

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 108,736 119,580
Pension contributions to money purchase schemes 7,904 8,023

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 539,608 656,563
Loss on sale of fixed assets 9,127 526,370
Auditors remuneration 14,500 14,500

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank loan interest 2,857 4,821
HP interest - 2,621
2,857 7,442

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 59,374 28,306
S455 tax provision - (317 )
Total current tax 59,374 27,989

Deferred tax 279,583 3,318
Tax on profit 338,957 31,307

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 595,928 420,623
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2022 - 19%)

148,982

79,918

Effects of:
Capital allowances in excess of depreciation (89,608 ) (51,612 )

Deferred tax 279,583 3,318
Adjustment to provision for S.455 tax - (317 )
Total tax charge 338,957 31,307

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30 June 2023.

2022
Gross Tax Net
£    £    £   
Revaluation surplus - leasehold property 592,029 - 592,029
Deferred tax provision on revaluation (112,485 ) - (112,485 )
479,544 - 479,544

7. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 200,000 245,000

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 2,210,182
AMORTISATION
At 1 July 2022
and 30 June 2023 2,210,182
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

9. TANGIBLE FIXED ASSETS
Long Plant & Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 July 2022 1,327,983 4,896,043 4,593,710 9,574 10,827,310
Additions - 285,014 401,654 1,106 687,774
Disposals - (297,027 ) (395,485 ) - (692,512 )
At 30 June 2023 1,327,983 4,884,030 4,599,879 10,680 10,822,572
DEPRECIATION
At 1 July 2022 107,983 2,561,130 3,092,892 1,436 5,763,441
Charge for year 20,750 257,119 260,302 1,437 539,608
Eliminated on disposal - (258,027 ) (316,608 ) - (574,635 )
At 30 June 2023 128,733 2,560,222 3,036,586 2,873 5,728,414
NET BOOK VALUE
At 30 June 2023 1,199,250 2,323,808 1,563,293 7,807 5,094,158
At 30 June 2022 1,220,000 2,334,913 1,500,818 8,138 5,063,869

Cost or valuation at 30 June 2023 is represented by:

Long Plant & Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
Valuation in 2022 592,029 - - - 592,029
Cost 735,954 4,884,030 4,599,879 10,680 10,230,543
1,327,983 4,884,030 4,599,879 10,680 10,822,572


BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,337,380 1,648,866
Directors' current accounts 117,398 5,500
Prepayments 9,442 4,167
1,464,220 1,658,533

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 12) - 175,000
Trade creditors 923,956 1,410,428
Corporation tax 59,374 28,306
VAT 250,132 224,242
PAYE & NIC 89,423 83,669
Other creditors - 1,752
Accruals 43,450 42,750
Directors' current accounts - 111,547
1,366,335 2,077,694

12. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans - 175,000

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 48,000 48,000
Between one and five years 192,000 192,000
In more than five years 216,000 264,000
456,000 504,000

The long leasehold is secured by way of a floating charge which covers all the property or undertaking of the company.

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

14. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 175,000

The bank loans are secured against part of the companies leasehold land and various fixed assets.

15. FINANCIAL INSTRUMENTS

The basis of measurement of the company's financial instruments are as follows:

Trade and other debtors - amortised cost

Trade creditors and accruals - amortised cost

Bank overdrafts and loans - amortised cost

Finance leases - amortised cost

16. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 948,001 668,418

Deferred
tax
£   
Balance at 1 July 2022 668,418
Provided during year 60,130
Provision for CT rate change 219,453
Balance at 30 June 2023 948,001

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary £1 200 200

BASINGSTOKE SKIP HIRE & SOUTHERN
WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03888063)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

18. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2022 5,584,298 479,544 6,063,842
Profit for the year 256,971 256,971
Dividends (200,000 ) (200,000 )
At 30 June 2023 5,641,269 479,544 6,120,813

19. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 93,333 93,333

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
M P Mercer
Balance outstanding at start of year - -
Amounts advanced 117,398 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 117,398 -

Mrs L K Meyrick
Balance outstanding at start of year 5,500 977
Amounts advanced - 22,000
Amounts repaid (5,500 ) (17,477 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 5,500

21. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr and Mrs M Mercer (company directors).