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REGISTERED NUMBER: 06758002 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

SUSSEX WASTE MANAGEMENT LIMITED

SUSSEX WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 06758002)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUSSEX WASTE MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: F J Ham





SECRETARY: Mark Law Registrars Limited





REGISTERED OFFICE: 2 Upperton Gardens
Eastbourne
East Sussex
BN21 2AH





REGISTERED NUMBER: 06758002 (England and Wales)





ACCOUNTANTS: Xeinadin
2 Upperton Gardens
Eastbourne
East Sussex
BN21 2AH

SUSSEX WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 06758002)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 174,377 126,432
Tangible assets 5 813,621 711,683
987,998 838,115

CURRENT ASSETS
Stocks 74,749 95,000
Debtors 6 151,098 212,322
Prepayments and accrued income 10,559 -
Cash at bank and in hand 100,962 203,795
337,368 511,117
CREDITORS
Amounts falling due within one year 7 549,540 468,486
NET CURRENT (LIABILITIES)/ASSETS (212,172 ) 42,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

775,826

880,746

CREDITORS
Amounts falling due after more than one year 8 361,972 268,205
NET ASSETS 413,854 612,541

CAPITAL AND RESERVES
Called up share capital 350,000 350,000
Retained earnings 63,854 262,541
413,854 612,541

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SUSSEX WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 06758002)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 5 August 2024 and were signed by:





F J Ham - Director


SUSSEX WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 06758002)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Sussex Waste Management 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil years.

Site developments costs
The site clearance and development costs have been capitalised and will be amortised over 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance and 10% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 has not been recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. The directors do not believe that this is necessary and accept this accounting treatment does not comply with Financial Reporting Standard 102.

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.

SUSSEX WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 06758002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

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 16 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2022 489,276
Additions 103,000
At 30 November 2023 592,276
AMORTISATION
At 1 December 2022 362,844
Charge for year 55,055
At 30 November 2023 417,899
NET BOOK VALUE
At 30 November 2023 174,377
At 30 November 2022 126,432

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 1,504,955 75,150 9,027 1,589,132
Additions 296,267 - - 296,267
Disposals (36,667 ) - - (36,667 )
At 30 November 2023 1,764,555 75,150 9,027 1,848,732
DEPRECIATION
At 1 December 2022 838,767 31,662 7,020 877,449
Charge for year 160,849 9,510 503 170,862
Eliminated on disposal (13,200 ) - - (13,200 )
At 30 November 2023 986,416 41,172 7,523 1,035,111
NET BOOK VALUE
At 30 November 2023 778,139 33,978 1,504 813,621
At 30 November 2022 666,188 43,488 2,007 711,683

SUSSEX WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 06758002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 December 2022 547,457
Additions 257,499
At 30 November 2023 804,956
DEPRECIATION
At 1 December 2022 228,449
Charge for year 115,303
At 30 November 2023 343,752
NET BOOK VALUE
At 30 November 2023 461,204
At 30 November 2022 319,008

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 71,142 165,212
Amounts owed by group undertakings 21,780 34,560
Other debtors 5,755 12,550
Directors' current accounts 52,421 -
151,098 212,322

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 84,579 90,148
Hire purchase contracts 166,063 115,018
Trade creditors 136,110 83,757
Amounts owed to group undertakings 74,755 57,498
Tax 43 43
Social security and other taxes 14,256 13,898
VAT 66,061 71,568
Other creditors 1,348 5,833
Directors' current accounts - 15,974
Accrued expenses 6,325 14,749
549,540 468,486

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 361,972 268,205

SUSSEX WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 06758002)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Santander UK PLC as Trustee - 35,093

Fixed and floating charge over all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, plant and machinery.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
F J Ham
Balance outstanding at start of year (15,974 ) (30,226 )
Amounts advanced 210,446 127,939
Amounts repaid (142,051 ) (113,687 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 52,421 (15,974 )

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2022 - £35,000) were paid to the director .

During the year the company received services amounting to £31,300 (2022 - £59,250) from Sussex Waste Management (1066) Ltd, a company under common control. As at the balance sheet date the company owed £57,498 (2022 - £57,498)

During the year the Company was loaned monies from Sussex Property 1066 Ltd, a Company under common control, as at the balance sheet date the Company owed £17,257 (2022 - £8,553)

During the year the Company provided a loan to Sussex 1066 Holdings Ltd, a Company under common control, as at the balance sheet date the Company was owed £21,780 (2022 - £21,780)

12. ULTIMATE CONTROLLING PARTY

The controlling party is F J Ham.