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Company registration number: 12490592
JS Green Waste Ltd
Unaudited filleted financial statements
31 March 2023
JS Green Waste Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
JS Green Waste Ltd
Directors and other information
Director Mr Julian Sherriff
Company number 12490592
Registered office Cromer Hyde Farm
Cromer Hyde
Lemsford
Welwyn Garden City
AL8 7XD
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
JS Green Waste Ltd
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of JS Green Waste Ltd
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JS Green Waste Ltd for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of JS Green Waste Ltd, as a body, in accordance with the terms of our engagement letter dated 6 October 2021. Our work has been undertaken solely to prepare for your approval the financial statements of JS Green Waste Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JS Green Waste Ltd and its director as a body for our work or for this report.
It is your duty to ensure that JS Green Waste Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JS Green Waste Ltd. You consider that JS Green Waste Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of JS Green Waste Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
1 March 2024
JS Green Waste Ltd
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 91,832 116,276
_______ _______
91,832 116,276
Current assets
Debtors 6 18,234 31,323
Cash at bank and in hand 31,599 56,879
_______ _______
49,833 88,202
Creditors: amounts falling due
within one year 7 ( 63,039) ( 79,674)
_______ _______
Net current (liabilities)/assets ( 13,206) 8,528
_______ _______
Total assets less current liabilities 78,626 124,804
Creditors: amounts falling due
after more than one year 8 ( 21,078) ( 63,061)
Provisions for liabilities ( 18,010) ( 4,990)
_______ _______
Net assets 39,538 56,753
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 39,438 56,653
_______ _______
Shareholder funds 39,538 56,753
_______ _______
For the year ending 31 March 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 01 March 2024 , and are signed on behalf of the board by:
Mr Julian Sherriff
Director
Company registration number: 12490592
JS Green Waste Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is JS Green Waste Limited, Cromer Hyde Farm, Cromer Hyde, Lemsford, Welwyn Garden City, AL8 7XD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 April 2022 130,257 130,257
Additions 6,167 6,167
_______ _______
At 31 March 2023 136,424 136,424
_______ _______
Depreciation
At 1 April 2022 13,981 13,981
Charge for the year 30,611 30,611
_______ _______
At 31 March 2023 44,592 44,592
_______ _______
Carrying amount
At 31 March 2023 91,832 91,832
_______ _______
At 31 March 2022 116,276 116,276
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 14,484 22,021
Other debtors 3,750 9,302
_______ _______
18,234 31,323
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 23,006 40,659
Social security and other taxes 5,063 -
Other creditors 34,970 39,015
_______ _______
63,039 79,674
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 21,078 63,061
_______ _______
9. Transactions with directors
Julian Sherriff, a director, is also a director of J Sherriff Farming Ltd. During the year ended 31 March 2023 the company hired machinery and labour from J Sherriff Farming Ltd on normal commercial terms with a total value of £36,286 (2022: £43,386) excluding VAT. Included in trade creditors at 31 March 2023 is an amount of £19,428 (2022: £19,778) due to J Sherriff Farming Ltd.