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REGISTERED NUMBER: 06068617 (England and Wales)














Financial Statements for the Year Ended 31 March 2023

for

Regional Waste Recycling (Commercial)
Limited

Regional Waste Recycling (Commercial)
Limited (Registered number: 06068617)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Regional Waste Recycling (Commercial)
Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr P Thornton





REGISTERED OFFICE: Purfleet Works
London Road
Grays
Essex
RM20 3NL





REGISTERED NUMBER: 06068617 (England and Wales)





AUDITORS: Nordens Audit Limited
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Regional Waste Recycling (Commercial)
Limited (Registered number: 06068617)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,773,027 1,474,819

CURRENT ASSETS
Debtors 5 17,720,612 16,546,712
Cash at bank 2,728,432 3,587,916
20,449,044 20,134,628
CREDITORS
Amounts falling due within one year 6 3,304,959 3,417,092
NET CURRENT ASSETS 17,144,085 16,717,536
TOTAL ASSETS LESS CURRENT LIABILITIES 18,917,112 18,192,355

CREDITORS
Amounts falling due after more than one
year

7

(97,755

)

(335,993

)

PROVISIONS FOR LIABILITIES (247,799 ) (234,445 )
NET ASSETS 18,571,558 17,621,917

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 18,571,458 17,621,817
18,571,558 17,621,917

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 20 March 2024 and were signed by:





Mr P Thornton - Director


Regional Waste Recycling (Commercial)
Limited (Registered number: 06068617)

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

1. STATUTORY INFORMATION

Regional Waste Recycling (Commercial) 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Turnover is measured at the fair value of the consideration received including the landfill tax where appropriate, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before turnover is recognised:

- Turnover arising from the handling and disposal of waste is recognised on receipt of the waste by the company.

- Turnover arising from the sale of recycled waste is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually when the goods are dispatched.

- Turnover from the provision of services is recognised when the contracted service has been performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Regional Waste Recycling (Commercial)
Limited (Registered number: 06068617)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Financial assets that are measured at cost and amortised costs are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised.

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.

Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods.

The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 24 ) .

Regional Waste Recycling (Commercial)
Limited (Registered number: 06068617)

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

4. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 - 2,268,716 1,681,254 20,591 3,970,561
Additions 372,226 4,700 470,249 2,773 849,948
Disposals - (76,000 ) (3,102 ) - (79,102 )
At 31 March 2023 372,226 2,197,416 2,148,401 23,364 4,741,407
DEPRECIATION
At 1 April 2022 - 1,671,595 806,043 18,104 2,495,742
Charge for year - 208,513 332,930 1,315 542,758
Eliminated on disposal - (68,327 ) (1,793 ) - (70,120 )
At 31 March 2023 - 1,811,781 1,137,180 19,419 2,968,380
NET BOOK VALUE
At 31 March 2023 372,226 385,635 1,011,221 3,945 1,773,027
At 31 March 2022 - 597,121 875,211 2,487 1,474,819

5. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 1,686,354 2,333,595
Amounts owed by group undertakings 7,391,232 7,088,574
Other debtors 7,878,440 6,359,957
16,956,026 15,782,126

Amounts falling due after more than one year:
Other debtors 764,586 764,586

Aggregate amounts 17,720,612 16,546,712

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 238,238 325,774
Trade creditors 747,319 516,631
Amounts owed to group undertakings 902,662 887,662
Taxation and social security 1,135,094 1,447,760
Other creditors 281,646 239,265
3,304,959 3,417,092

Regional Waste Recycling (Commercial)
Limited (Registered number: 06068617)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 97,755 335,993

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Lorraine Curtis BFP ACA FCCA (Senior Statutory Auditor)
for and on behalf of Nordens Audit Limited

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The Director, Mr P Thornton, is considered to be key management personnel.

The company has a fixed and floating charge from HSBC UK Bank PLC over all assets, property and undertaking of the company which also contains a negative pledge. This debenture is in place as a result of additional finance received by another of the group companies, V.C.Cooke for expansion.

10. ULTIMATE CONTROLLING PARTY

Associated Waste Group Limited is the company's immediate and ultimate parent undertaking and Mr P Thornton is considered to be key management personnel.

Associated Waste Group Limited also prepares consolidated financial statements which can be obtained by writing to the registered office address of the company. They can also be obtained directly from Companies House.