IRIS Accounts Production v24.1.9.2 03707005 Board of Directors 1.11.22 31.10.23 31.10.23 Recycling, waste management, supply of recycled aggregates, landfill and groundworks. true true false true true false false true false Ordinary 1.00000 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REGISTERED NUMBER: 03707005 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 October 2023

for

Crapper & Sons Landfill Limited

Crapper & Sons Landfill Limited (Registered number: 03707005)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 17


Crapper & Sons Landfill Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: R W Crapper
L J Crapper
H C Crapper
R J Crapper
J M Bowden
N Ash
P A Papworth-Smith





SECRETARY: R W Crapper





REGISTERED OFFICE: Park Grounds
Brinkworth Road
Wootton Bassett
Swindon
Wiltshire
SN4 8DW





REGISTERED NUMBER: 03707005 (England and Wales)





AUDITORS: Haines Watts
Chartered Accountants & Statutory Auditors
Old Station House
Station Approach
Newport Street
Swindon
Wiltshire
SN1 3DU

Crapper & Sons Landfill Limited (Registered number: 03707005)

Strategic Report
for the Year Ended 31 October 2023

The directors present their strategic report for the year ended 31 October 2023.

REVIEW OF BUSINESS
The company's principal activities are recycling, waste management and the supply of recycled materials. The company operates primarily from its site in Wootton Bassett in Wiltshire.

The year ended 31 October 2023 saw turnover decrease by 10% whilst pre-tax profit declined by 23%.

The company is continually seeking operational improvements through investment in the workforce and in plant and equipment used in operations.

Acquisitions

There were no acquisitions in the year.

Employees

The company actively involves all employees in its general business and performance.

Key Performance Indicators

The key performance indicators are as follows:

2023 2022
Turnover £17,618,464 £19,696,197
Profit before tax £439,503 £568,224

The company maintained profitability levels by reducing its cost base to levels appropriate to its lower revenues.


Crapper & Sons Landfill Limited (Registered number: 03707005)

Strategic Report
for the Year Ended 31 October 2023

PRINCIPAL RISKS AND UNCERTAINTIES
The company faces a number of financial risks from operating in a competitive and complex regulated environment. These risks include economic risk, credit risk and liquidity risk.

Economic risk - The economic risk is based upon any reduction to levels of activity in the construction sector and the broader economy leading to a downturn in demand. This risk is managed by ongoing evaluation of future demands to enable the directors to take action for mitigation and to re-evaluate strategy accordingly.

Credit risk - The credit risk is attributable to trade debtors which are stated after provisions for bad and doubtful debts. These provisions are based on policies designed to manage the credit risk through credit checks and credit control procedures.

Liquidity risk - The company has exposure to liquidity risk through its structured long-term external borrowings. The company manages liquidity risk by monitoring working capital and ensuring sufficient funds are available to meet future payments.

ON BEHALF OF THE BOARD:





R J Crapper - Director


30 July 2024

Crapper & Sons Landfill Limited (Registered number: 03707005)

Report of the Directors
for the Year Ended 31 October 2023

The directors present their report with the financial statements of the company for the year ended 31 October 2023.

DIVIDENDS
No dividends will be distributed for the year ended 31 October 2023.

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

R W Crapper
L J Crapper
H C Crapper
R J Crapper
J M Bowden
N Ash
P A Papworth-Smith

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;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-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.

Crapper & Sons Landfill Limited (Registered number: 03707005)

Report of the Directors
for the Year Ended 31 October 2023


AUDITORS
The auditors, Haines Watts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



R J Crapper - Director


30 July 2024

Report of the Independent Auditors to the Members of
Crapper & Sons Landfill Limited

Opinion
We have audited the financial statements of Crapper & Sons Landfill Limited (the 'company') for the year ended 31 October 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 31 October 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
Crapper & Sons Landfill 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 four, 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
Crapper & Sons Landfill 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:

We obtained an understanding of the legal and regulatory framework applicable to both the company itself and the industry in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through discussion with the directors and other management. The most significant were identified as the Companies Act 2006, UK GAAP (FRS102) and relevant tax legislation.

We considered the extent of compliance with those laws and regulations as part of our procedures on the
related financial statements. Our audit procedures included:

- making enquires of directors and management as to where they consider there to be a susceptibility to
fraud and whether they have any knowledge or suspicion of fraud;
- obtaining an understanding of the internal controls established to mitigate risks related to fraud or
non-compliance with laws and regulations;
- assessing the design effectiveness of the controls in place to prevent and detect fraud;
- assessing the risk of management override including identifying and testing journal entries;
- challenging the assumptions and judgements made by management in its significant accounting
estimates.

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

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
Crapper & Sons Landfill 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.




Emma Skinner FCCA (Senior Statutory Auditor)
for and on behalf of Haines Watts
Chartered Accountants & Statutory Auditors
Old Station House
Station Approach
Newport Street
Swindon
Wiltshire
SN1 3DU

30 July 2024

Crapper & Sons Landfill Limited (Registered number: 03707005)

Income Statement
for the Year Ended 31 October 2023

31.10.23 31.10.22
as restated
Notes £ £

TURNOVER 3 17,618,464 19,696,197

Cost of sales 14,386,499 16,853,567
GROSS PROFIT 3,231,965 2,842,630

Administrative expenses 2,459,435 2,061,997
OPERATING PROFIT 5 772,530 780,633

Interest receivable and similar income 39,773 2,302
812,303 782,935

Interest payable and similar expenses 6 372,800 214,691
PROFIT BEFORE TAXATION 439,503 568,244

Tax on profit 7 189,836 59,947
PROFIT FOR THE FINANCIAL YEAR 249,667 508,297

Crapper & Sons Landfill Limited (Registered number: 03707005)

Other Comprehensive Income
for the Year Ended 31 October 2023

31.10.23 31.10.22
as restated
Notes £ £

PROFIT FOR THE YEAR 249,667 508,297


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

249,667

508,297
Note
Prior year adjustment 8 (279,994 )
TOTAL COMPREHENSIVE INCOME
SINCE LAST ANNUAL REPORT

(30,327

)

Crapper & Sons Landfill Limited (Registered number: 03707005)

Balance Sheet
31 October 2023

31.10.23 31.10.22
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible assets 9 13,287,949 12,261,545
Investments 10 251 251
13,288,200 12,261,796

CURRENT ASSETS
Stocks 11 36,900 25,840
Debtors: amounts falling due within one year 12 5,747,941 4,831,735
Debtors: amounts falling due after more than
one year

12

1,054,063

1,054,243
Cash at bank 955,907 231,232
7,794,811 6,143,050
CREDITORS
Amounts falling due within one year 13 6,479,452 5,192,270
NET CURRENT ASSETS 1,315,359 950,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,603,559

13,212,576

CREDITORS
Amounts falling due after more than one year 14 (3,244,195 ) (2,323,839 )

PROVISIONS FOR LIABILITIES 18 (1,445,836 ) (1,224,876 )
NET ASSETS 9,913,528 9,663,861

CAPITAL AND RESERVES
Called up share capital 19 1,000 1,000
Retained earnings 20 9,912,528 9,662,861
SHAREHOLDERS' FUNDS 9,913,528 9,663,861

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





R J Crapper - Director


Crapper & Sons Landfill Limited (Registered number: 03707005)

Statement of Changes in Equity
for the Year Ended 31 October 2023

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 November 2021 1,000 9,154,564 9,155,564

Changes in equity
Total comprehensive income - 788,291 788,291
Balance at 31 October 2022 1,000 9,942,855 9,943,855
Prior year adjustment - (279,994 ) (279,994 )
As restated 1,000 9,662,861 9,663,861

Changes in equity
Total comprehensive income - 249,667 249,667
Balance at 31 October 2023 1,000 9,912,528 9,913,528

Crapper & Sons Landfill Limited (Registered number: 03707005)

Cash Flow Statement
for the Year Ended 31 October 2023

31.10.23 31.10.22
as restated
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 2,715,738 2,629,003
Interest paid (237,156 ) (75,905 )
Interest element of hire purchase payments
paid

(135,644

)

(138,786

)
Tax paid (134,229 ) (300,001 )
Net cash from operating activities 2,208,709 2,114,311

Cash flows from investing activities
Purchase of tangible fixed assets (2,603,652 ) (1,102,867 )
Sale of tangible fixed assets 103,481 149,999
Interest received 39,773 2,302
Net cash from investing activities (2,460,398 ) (950,566 )

Cash flows from financing activities
New loans in year 2,500,000 -
Loan repayments in year (548,405 ) (728,065 )
Capital repayments in year (960,762 ) (260,519 )
Amount withdrawn by directors (14,469 ) (48,277 )
Net cash from financing activities 976,364 (1,036,861 )

Increase in cash and cash equivalents 724,675 126,884
Cash and cash equivalents at beginning of
year

2

231,232

104,348

Cash and cash equivalents at end of year 2 955,907 231,232

Crapper & Sons Landfill Limited (Registered number: 03707005)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31.10.23 31.10.22
as restated
£ £
Profit before taxation 439,503 568,244
Depreciation charges 1,454,917 1,150,022
Loss on disposal of fixed assets 18,849 5,840
Finance costs 372,800 214,691
Finance income (39,773 ) (2,302 )
2,246,296 1,936,495
(Increase)/decrease in stocks (11,060 ) 6,560
Increase in trade and other debtors (736,205 ) (11,507 )
Increase in trade and other creditors 1,216,707 697,455
Cash generated from operations 2,715,738 2,629,003

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 31 October 2023
31.10.23 1.11.22
£ £
Cash and cash equivalents 955,907 231,232
Year ended 31 October 2022
31.10.22 1.11.21
as restated
£ £
Cash and cash equivalents 231,232 104,348


Crapper & Sons Landfill Limited (Registered number: 03707005)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2023

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.11.22 Cash flow At 31.10.23
£ £ £
Net cash
Cash at bank and in hand 231,232 724,675 955,907
231,232 724,675 955,907
Debt
Finance leases (3,324,266 ) 960,762 (2,363,504 )
Debts falling due within 1 year (340,074 ) (159,926 ) (500,000 )
Debts falling due after 1 year - (1,791,667 ) (1,791,667 )
(3,664,340 ) (990,831 ) (4,655,171 )
Total (3,433,108 ) (266,156 ) (3,699,264 )

Crapper & Sons Landfill Limited (Registered number: 03707005)

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

1. STATUTORY INFORMATION

Crapper & Sons Landfill 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.

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.

The financial statements are presented in £ sterling, this being the company's functional currency.

Preparation of consolidated financial statements
The financial statements contain information about Crapper & Sons Landfill Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company's subsidiary companies are all dormant and their inclusion would not be material for the purposes of giving a true and fair view. The company is therefore exempt under Section 405 of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
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.

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.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Tangible fixed assets
Tangible fixed assets are depreciated over their useful lives taking into account their residual vales where appropriate. The actual useful lives of the assets and values are assessed annually and may vary depending upon a number of factors. The company's investment into projects aimed at generating power from waste is long term and involves significant capital expenditure before benefits arise. The directors monitor progress and seek to bring the facility into use as soon as practicable. The assets being developed are currently assessed as having residual values in excess of cost and are not depreciated until such time as they are brought into use..

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

Crapper & Sons Landfill Limited (Registered number: 03707005)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Land and buildings:
Freehold buildings - straight line basis at 2% per annum
Freehold land is not depreciated
Land used for landfill operations - straight line at 10% per annum
Land used for landfill - land development costs are written off in proportion to usage of the land

Plant and machinery:
Plant and machinery with development costs amounting to £2,448,863 (2022: £3,741,401) has an expected residual value in excess of costs. This plant and machinery is not depreciated.
Motor vehicles - reducing balance at 25% per annum
Other plant and machinery - reducing balance at 15% per annum

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks represent livestock valued at a discount from market value.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

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.


Crapper & Sons Landfill Limited (Registered number: 03707005)

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

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

The company's turnover is entirely generated from landfill and recycling activities in England.

4. EMPLOYEES AND DIRECTORS
31.10.23 31.10.22
as restated
£ £
Wages and salaries 2,663,696 2,671,401
Social security costs 296,223 297,825
Other pension costs 113,721 103,537
3,073,640 3,072,763

Crapper & Sons Landfill Limited (Registered number: 03707005)

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

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31.10.23 31.10.22
as restated

Production 51 62
Administration 8 8
59 70

31.10.23 31.10.22
as restated
£ £
Directors' remuneration 562,100 231,351

Information regarding the highest paid director is as follows:
31.10.23 31.10.22
as restated
£ £
Emoluments etc 401,500 100,517

The company's key management personnel are the directors and therefore no additional disclosures are required.

5. OPERATING PROFIT

The operating profit is stated after charging:

31.10.23 31.10.22
as restated
£ £
Hire of plant and machinery 1,678,198 1,583,639
Depreciation - owned assets 825,053 757,506
Depreciation - assets on hire purchase contracts 629,865 392,516
Loss on disposal of fixed assets 18,849 5,840
Auditors' remuneration 16,800 13,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.10.23 31.10.22
as restated
£ £
Bank loan interest 197,548 38,605
Factoring interest 39,608 42,479
Loan interest - (5,179 )
Hire purchase 135,644 138,786
372,800 214,691

Crapper & Sons Landfill Limited (Registered number: 03707005)

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

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.10.23 31.10.22
as restated
£ £
Current tax:
UK corporation tax (31,124 ) 33,268

Deferred tax 220,960 26,679
Tax on profit 189,836 59,947

UK corporation tax has been charged at 22.52% (2022 - 19%).

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:

31.10.23 31.10.22
as restated
£ £
Profit before tax 439,503 568,244
Profit multiplied by the standard rate of corporation tax in the UK of
22.520% (2022 - 19%)

98,976

107,966

Effects of:
Expenses not deductible for tax purposes - 1,627
Income not taxable for tax purposes (162 ) -
Capital allowances in excess of depreciation - (25,160 )
Depreciation in excess of capital allowances 39,469 -
Adjustments to tax charge in respect of previous periods 20,163 (12,241 )
Tax value of research & development activities - (20,927 )
Change in rate at which deferred tax is provided 21,919 8,682
Use of tax losses at a rate below the current tax rate 9,471 -
Total tax charge 189,836 59,947

In the Spring Budget 2021, the UK Government announced that from 1 April 2023 the corporation tax rate would increase to 25% (rather than remaining at 19%, as previously enacted). This new law was substantively enacted on 24 May 2021. For the financial year ended 31 October 2023, the current weighted averaged tax rate was 22.52%.

Deferred tax has been provided at 25% being the rate expected to apply when timing differences reverse.

8. PRIOR YEAR ADJUSTMENT

Development costs incurred in preparing land for landfill are depreciated in line with usage of the site. A charge for the usage of the latest phase of this land was not provided in the financial statements for the year to 31 October 2022 and therefore the amount that should have been charged, net of taxation, is included as a prior year adjustment.

Crapper & Sons Landfill Limited (Registered number: 03707005)

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

9. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£ £ £ £ £
COST
At 1 November 2022 5,265,152 8,885,855 852,593 67,694 15,071,294
Additions - 2,551,863 51,789 - 2,603,652
Disposals (188,856 ) (217,155 ) (45,717 ) - (451,728 )
At 31 October 2023 5,076,296 11,220,563 858,665 67,694 17,223,218
DEPRECIATION
At 1 November 2022 867,944 1,531,433 359,101 51,271 2,809,749
Charge for year 396,412 928,774 127,268 2,464 1,454,918
Eliminated on disposal (188,855 ) (119,729 ) (20,814 ) - (329,398 )
At 31 October 2023 1,075,501 2,340,478 465,555 53,735 3,935,269
NET BOOK VALUE
At 31 October 2023 4,000,795 8,880,085 393,110 13,959 13,287,949
At 31 October 2022 4,397,208 7,354,422 493,492 16,423 12,261,545

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 November 2022 4,334,644 572,803 4,907,447
Additions 105,000 - 105,000
Disposals (110,600 ) - (110,600 )
Transfer to ownership (199,500 ) (111,950 ) (311,450 )
At 31 October 2023 4,129,544 460,853 4,590,397
DEPRECIATION
At 1 November 2022 758,803 219,843 978,646
Charge for year 541,626 88,239 629,865
Eliminated on disposal (44,376 ) - (44,376 )
Transfer to ownership (125,199 ) (89,811 ) (215,010 )
At 31 October 2023 1,130,854 218,271 1,349,125
NET BOOK VALUE
At 31 October 2023 2,998,690 242,582 3,241,272
At 31 October 2022 3,575,841 352,960 3,928,801

Crapper & Sons Landfill Limited (Registered number: 03707005)

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

10. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 November 2022
and 31 October 2023 251
NET BOOK VALUE
At 31 October 2023 251
At 31 October 2022 251

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Needhams Building Contractors (Swindon) Limited
Registered office: Park Grounds, Brinkworth Road, Wootton Bassett, SN4 8DW
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31.10.23 31.10.22
£ £
Aggregate capital and reserves 101,668 101,650
Profit/(loss) for the year 18 (570 )

Crappers Biomass Limited
Registered office: Park Grounds, Brinkworth Road, Wootton Bassett, SN4 8DW
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31.1.23 31.1.23
£ £
Aggregate capital and reserves 100 100

Park Grounds Farm Limited
Registered office: Park Grounds, Brinkworth Road, Wootton Bassett, SN4 8DW
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£ £
Aggregate capital and reserves 1 1

Crapper & Sons Landfill Limited (Registered number: 03707005)

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

10. FIXED ASSET INVESTMENTS - continued

Park Grounds Resource Recovery Limited
Registered office: Park Grounds, Brinkworth Road, Wootton Bassett, SN4 8DW
Nature of business: Dormant
%
Class of shares: holding
Ordinary 55.60
31.10.23 31.10.22
£ £
Aggregate capital and reserves 90 90

11. STOCKS
31.10.23 31.10.22
as restated
£ £
Stocks 36,900 25,840

12. DEBTORS
31.10.23 31.10.22
as restated
£ £
Amounts falling due within one year:
Trade debtors 4,570,049 3,817,804
Other debtors 14,126 9,852
Directors' loan accounts 116,463 101,994
Tax 1,047,303 881,951
Prepayments - 20,134
5,747,941 4,831,735

Amounts falling due after more than one year:
Other debtors 1,054,063 1,054,243

Aggregate amounts 6,802,004 5,885,978

Amounts falling due after more than one year represent a bond held to cover costs should the company default on its future obligations for restoration, monitoring and management of the landfill site subsequent to the final use of the site. Default would occur if the company was unable to continue trading before these obligations had been met.

Crapper & Sons Landfill Limited (Registered number: 03707005)

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

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
as restated
£ £
Bank loans and overdrafts (see note 15) 500,000 340,074
Hire purchase contracts (see note 16) 910,976 1,000,427
Trade creditors 1,062,017 1,209,961
Social security and other taxes 237,163 160,054
Other creditors 3,231,674 2,359,344
Accrued expenses 537,622 122,410
6,479,452 5,192,270

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
as restated
£ £
Bank loans (see note 15) 1,791,667 -
Hire purchase contracts (see note 16) 1,452,528 2,323,839
3,244,195 2,323,839

15. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
as restated
£ £
Amounts falling due within one year or on demand:
Bank loans 500,000 340,074

Amounts falling due between one and two years:
Bank loans - 1-2 years 500,000 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,291,667 -

Crapper & Sons Landfill Limited (Registered number: 03707005)

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

16. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.10.23 31.10.22
as restated
£ £
Net obligations repayable:
Within one year 910,976 1,000,427
Between one and five years 1,452,528 2,323,839
2,363,504 3,324,266

17. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
as restated
£ £
Bank loans 2,291,667 340,074
Hire purchase contracts 2,363,504 3,324,266
Other creditors 1,142,418 927,278
5,797,589 4,591,618

Bank loans and other creditors are secured by way of fixed and floating charges over the assets and undertaking of the company.

Hire purchase liabilities are secured by way of a charge over the assets being financed.

18. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
as restated
£ £
Deferred tax
Accelerated capital allowances 1,656,293 1,227,017
Tax losses carried forward (208,495 ) -
Other timing differences (1,962 ) (2,141 )
1,445,836 1,224,876

Deferred tax
£
Balance at 1 November 2022 1,224,876
Provided during year 220,960
Balance at 31 October 2023 1,445,836

Crapper & Sons Landfill Limited (Registered number: 03707005)

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

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: as restated
£ £
1,000 Ordinary 1 1,000 1,000

20. RESERVES
Retained
earnings
£

At 1 November 2022 9,942,855
Prior year adjustment (279,994 )
9,662,861
Profit for the year 249,667
At 31 October 2023 9,912,528

21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
as restated
£ £
R J Crapper
Balance outstanding at start of year 101,994 86,379
Amounts advanced 14,469 15,615
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 116,463 101,994

Interest is charged on loans outstanding at a rate of 2%pa (2022: 2%). Amounts advanced included any interest due but unpaid at the date of the financial statements.

The loan advanced to R J Crapper has been repaid since the balance sheet date.

22. ULTIMATE CONTROLLING PARTY

The company is controlled jointly by 5 individuals by way of being directors and shareholders. These individuals are H C Crapper, R J Crapper, L J Crapper, R W Crapper and J M Bowden. The shareholdings of these individuals range from 9.9% to 18.8% and jointly amount to 69.3% of the issued share capital.