REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2023 |
for |
Insta Waste Solutions Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2023 |
for |
Insta Waste Solutions Limited |
Insta Waste Solutions Limited (Registered number: 07400571) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Insta Waste Solutions Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants & Business Advisers |
15 Newland |
Lincoln |
Lincolnshire |
LN1 1XG |
ACCOUNTANTS: |
Chartered Accountants |
27 Castle Gate |
Newark |
Nottinghamshire |
NG24 1BA |
Insta Waste Solutions Limited (Registered number: 07400571) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Insta Waste Solutions Limited (Registered number: 07400571) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Insta Waste Solutions Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the fair value of consideration received for net invoiced skip hire, waste management services and equipment hire, excluding value added tax. Revenue is recognised in the period in which the hire or services are provided. |
Tangible fixed assets |
Tangible fixed assets are held at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Land and buildings | - | Nil |
Plant and machinery etc | - | 33% on reducing balance, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Insta Waste Solutions Limited (Registered number: 07400571) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
4. | TANGIBLE FIXED ASSETS |
Land and | Plant and | Motor |
Buildings | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2022 |
and 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | CONTINGENT LIABILITIES |
At the year end the company had an ongoing material potential contingent liability, the outcome of which will not be determined until after the approval of these financial statements. Given the level of uncertainty as to liability and the quantification of any potential liability based on future events it is impracticable to provide further information in the notes to the accounts. This potential liability is also referred to in the auditors report. |
Insta Waste Solutions Limited (Registered number: 07400571) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
11. | 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 company made payments during the year with Azione1 Limited, a company in which C S J Currie is a director. These amounted to £151,957 (2022: £nil). At the year end a balance of £nil (2022: £nil) was due to the company. |
In addition the company incurred consultancy costs amounting to £150,000 (2022: £nil) with Island Speed Services Limited, a company incorporated in the Isle of Man. C S J Currie is the owner of the Island Speed Services Limited. At the year end a balance of £180,000 was owed to Island Speed Services Limited and is included in trade creditors. |
The ultimate parent company is Halchar Ltd. Halchar Ltd's registered office is: |
Acrelands Orston Lane |
Bottesford |
Nottingham |
NG13 0AU |
Consolidated financial statements for the ultimate parent company are filed with the Registrar of Companies where copies may be obtained. |
12. | ULTIMATE CONTROLLING PARTY |
The company is a subsidiary of Halchar Ltd. |
Halchar Ltd is ultimately controlled by C S J Currie. |