REGISTRAR
Company registration number 05613601 (England and Wales)
STUART NICHOLS WASTE DISPOSAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
REGISTRAR
STUART NICHOLS WASTE DISPOSAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
REGISTRAR
STUART NICHOLS WASTE DISPOSAL LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
549,317
434,522
Current assets
Debtors
4
119,885
155,963
Cash at bank and in hand
425,439
344,433
545,324
500,396
Creditors: amounts falling due within one year
5
(144,207)
(124,287)
Net current assets
401,117
376,109
Total assets less current liabilities
950,434
810,631
Provisions for liabilities
(115,587)
(47,934)
Net assets
834,847
762,697
Capital and reserves
Called up share capital
6
202
202
Profit and loss reserves
834,645
762,495
Total equity
834,847
762,697
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
REGISTRAR
STUART NICHOLS WASTE DISPOSAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 6 August 2024 and are signed on its behalf by:
Mr S C Nichols
Mrs P Nichols
Director
Director
Mr P J Nichols
Director
Company registration number 05613601 (England and Wales)
REGISTRAR
STUART NICHOLS WASTE DISPOSAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 3 -
1
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
2
Accounting policies
Company information
Stuart Nichols Waste Disposal Limited is a private company limited by shares incorporated in England and Wales. The registered office is Highlands Farm, Upper Boddington, Daventry, Northants, NN11 6DW.
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts, under contracts to the extent that there is a right to consideration and is recorded at the value of consideration due.
2.3
Tangible fixed assets
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 machinery
5% / 15% straight line
Computer equipment
25% reducing balance
The 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.
REGISTRAR
STUART NICHOLS WASTE DISPOSAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
2
Accounting policies
(Continued)
- 4 -
2.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
REGISTRAR
STUART NICHOLS WASTE DISPOSAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 5 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 February 2023
1,093,678
2,565
1,096,243
Additions
211,569
211,569
Disposals
(152,135)
(152,135)
At 31 January 2024
1,153,112
2,565
1,155,677
Depreciation and impairment
At 1 February 2023
659,700
2,021
661,721
Depreciation charged in the year
48,420
136
48,556
Eliminated in respect of disposals
(103,917)
(103,917)
At 31 January 2024
604,203
2,157
606,360
Carrying amount
At 31 January 2024
548,909
408
549,317
At 31 January 2023
433,978
544
434,522
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
112,884
153,595
Other debtors
7,001
2,368
119,885
155,963
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
33,470
25,606
Taxation and social security
73,583
93,969
Other creditors
37,154
4,712
144,207
124,287
REGISTRAR
STUART NICHOLS WASTE DISPOSAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
Ordinary B Shares of £1 each
1
1
1
1
Ordinary C Shares of £1 each
1
1
1
1
Ordinary D Shares of £1 each
50
50
50
50
Ordinary E Shares of £1 each
50
50
50
50
202
202
202
202