Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false22023-03-01No description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07969398 2023-03-01 2024-02-29 07969398 2022-03-01 2023-02-28 07969398 2024-02-29 07969398 2023-02-28 07969398 2022-03-01 07969398 c:Director1 2023-03-01 2024-02-29 07969398 d:Buildings 2023-03-01 2024-02-29 07969398 d:Buildings 2024-02-29 07969398 d:Buildings 2023-02-28 07969398 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07969398 d:PlantMachinery 2023-03-01 2024-02-29 07969398 d:PlantMachinery 2024-02-29 07969398 d:PlantMachinery 2023-02-28 07969398 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07969398 d:MotorVehicles 2023-03-01 2024-02-29 07969398 d:MotorVehicles 2024-02-29 07969398 d:MotorVehicles 2023-02-28 07969398 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07969398 d:OfficeEquipment 2023-03-01 2024-02-29 07969398 d:OfficeEquipment 2024-02-29 07969398 d:OfficeEquipment 2023-02-28 07969398 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07969398 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07969398 d:CurrentFinancialInstruments 2024-02-29 07969398 d:CurrentFinancialInstruments 2023-02-28 07969398 d:Non-currentFinancialInstruments 2024-02-29 07969398 d:Non-currentFinancialInstruments 2023-02-28 07969398 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 07969398 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 07969398 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 07969398 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 07969398 d:ShareCapital 2024-02-29 07969398 d:ShareCapital 2023-02-28 07969398 d:RetainedEarningsAccumulatedLosses 2024-02-29 07969398 d:RetainedEarningsAccumulatedLosses 2023-02-28 07969398 c:FRS102 2023-03-01 2024-02-29 07969398 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 07969398 c:FullAccounts 2023-03-01 2024-02-29 07969398 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07969398 2 2023-03-01 2024-02-29 07969398 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 07969398 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 07969398 d:TaxLossesCarry-forwardsDeferredTax 2024-02-29 07969398 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 07969398 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 07969398










BUSINESS WASTE MANAGEMENT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
BUSINESS WASTE MANAGEMENT LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
BUSINESS WASTE MANAGEMENT LIMITED
REGISTERED NUMBER:07969398

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
47,312
115,018

Current assets
  

Stocks
  
27,655
128,511

Debtors: amounts falling due within one year
 5 
429,706
338,022

Cash at bank and in hand
 6 
139,084
19,291

  
596,445
485,824

Creditors: amounts falling due within one year
 7 
(151,027)
(107,074)

Net current assets
  
 
 
445,418
 
 
378,750

Total assets less current liabilities
  
492,730
493,768

Creditors: amounts falling due after more than one year
 8 
(67,083)
(102,083)

Provisions for liabilities
  

Deferred tax
 9 
(11,153)
(13,786)

  
 
 
(11,153)
 
 
(13,786)

Net assets
  
414,494
377,899


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
413,494
376,899

  
414,494
377,899


Page 1

 
BUSINESS WASTE MANAGEMENT LIMITED
REGISTERED NUMBER:07969398
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
Mr R J Harris
Director

Date: 28 July 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Business Waste Management Limited is a private company limited by its shares, domiciled in England, registration number 07969398. The registered office is Century House, The Lakes, Northampton, NN4 7HD and principal place of business is The Long Barn, Eakley Lanes, Stoke Goldington, Bucks, MK16 8LP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP rounded to the nearest £1.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements
-
Depreciation at 20% per annum
Plant and machinery
-
Depreciation at 20% per annum
Motor vehicles
-
Depreciation at 25% per annum
Office equipment
-
Depreciation at 15% per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Property improve-ments
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 March 2023
6,538
61,846
110,709
13,226
192,319


Additions
-
-
-
1,596
1,596


Disposals
-
-
(57,500)
-
(57,500)



At 29 February 2024

6,538
61,846
53,209
14,822
136,415



Depreciation


At 1 March 2023
3,792
11,105
55,191
7,213
77,301


Charge for the year on owned assets
-
12,369
8,799
1,415
22,583


Disposals
-
-
(10,781)
-
(10,781)



At 29 February 2024

3,792
23,474
53,209
8,628
89,103



Net book value



At 29 February 2024
2,746
38,372
-
6,194
47,312



At 28 February 2023
2,746
50,741
55,518
6,013
115,018

Page 6

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
34,381
47,445

Other debtors
395,325
288,702

Tax recoverable
-
1,875

429,706
338,022



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
139,084
19,291



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
35,000
35,000

Trade creditors
31,941
39,378

Corporation tax
9,997
-

Other taxation and social security
10,271
22,787

Other creditors
-
1,412

Accruals and deferred income
63,818
8,497

151,027
107,074


The bank loan is secured by a Debenture over the Company's assets.


8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
67,083
102,083


The bank loan is secured by a Debenture over the Company's assets.

Page 7

 
BUSINESS WASTE MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Deferred taxation






2024
2023


£

£






At beginning of year
(13,786)
(6,416)


Charged to profit or loss
2,633
(7,370)



At end of year
(11,153)
(13,786)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
11,153
27,806

Tax losses carried forward
-
(14,020)

(11,153)
(13,786)


10.


Transactions with directors

At 29 February 2024 the Company owed the director £nil (2023: £1,412). Interest of £1,345 (2023 - £518) has been charged.
At 29 February 2024, the Company was owed £392,412 (2023 - £286,001) by a Company of which Mr R Harris is a director of. This loan has no fixed repayment date.


11.


Controlling party

The Company was under the control of Mr R J Harris throughout the year. Mr R J Harris is the managing director and majority shareholder.

 
Page 8