LATHAMS RECYCLING CENTRE LIMITED

Company Registration Number:
09571714 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2023

Period of accounts

Start date: 1 July 2022

End date: 30 June 2023

LATHAMS RECYCLING CENTRE LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Additional notes
Balance sheet notes

LATHAMS RECYCLING CENTRE LIMITED

Balance sheet

As at 30 June 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 26,041 38,541
Tangible assets: 4 150,052 169,576
Total fixed assets: 176,093 208,117
Current assets
Debtors: 5 900,693 748,817
Cash at bank and in hand: 5,701 2
Total current assets: 906,394 748,819
Creditors: amounts falling due within one year: 6 ( 663,012 ) ( 515,466 )
Net current assets (liabilities): 243,382 233,353
Total assets less current liabilities: 419,475 441,470
Creditors: amounts falling due after more than one year: 7 ( 90,485 ) ( 122,000 )
Total net assets (liabilities): 328,990 319,470
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 328,890 319,370
Total Shareholders' funds: 328,990 319,470

The notes form part of these financial statements

LATHAMS RECYCLING CENTRE LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 26 January 2024
and signed on behalf of the board by:

Name: T Latham
Status: Director

The notes form part of these financial statements

LATHAMS RECYCLING CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:Plant and equipment 10% per annum on costFixtures and fittings 20% per annum on costThe gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Intangible fixed assets amortisation policy

    Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite usefullife and is amortised on a systematic basis over its expected life, which is 10 years.For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefitfrom the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment atleast annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assetsof the unit pro-rata on the basis of the carrying amount of each asset in the unit.

LATHAMS RECYCLING CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 19 19

LATHAMS RECYCLING CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 July 2022 125,000 125,000
Additions
Disposals
Revaluations
Transfers
At 30 June 2023 125,000 125,000
Amortisation
At 1 July 2022 86,459 86,459
Charge for year 12,500 12,500
On disposals
Other adjustments
At 30 June 2023 98,959 98,959
Net book value
At 30 June 2023 26,041 26,041
At 30 June 2022 38,541 38,541

LATHAMS RECYCLING CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2022 254,904 254,904
Additions 554 554
Disposals
Revaluations
Transfers
At 30 June 2023 255,458 255,458
Depreciation
At 1 July 2022 85,328 85,328
Charge for year 20,078 20,078
On disposals
Other adjustments
At 30 June 2023 105,406 105,406
Net book value
At 30 June 2023 150,052 150,052
At 30 June 2022 169,576 169,576

LATHAMS RECYCLING CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Debtors

2023 2022
£ £
Trade debtors 703,849 713,951
Other debtors 196,844 34,866
Total 900,693 748,817

LATHAMS RECYCLING CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 45,124
Trade creditors 368,004 165,793
Taxation and social security 3,610 2,761
Other creditors 291,398 301,788
Total 663,012 515,466

LATHAMS RECYCLING CENTRE LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

7. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 2,399 5,853
Amounts due under finance leases and hire purchase contracts 88,086 116,147
Total 90,485 122,000