IRIS Accounts Productionv24.1.9.202242427Board of Directors1.1.2331.12.2331.12.23falsetruefalsefalsetruefalseOrdinary1.00000Ordinary B1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh022424272022-12-31022424272023-12-31022424272023-01-012023-12-31022424272021-12-31022424272022-01-012022-12-31022424272022-12-3102242427ns15:EnglandWales2023-01-012023-12-3102242427ns14:PoundSterling2023-01-012023-12-3102242427ns10:Director12023-01-012023-12-3102242427ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102242427ns10:SmallEntities2023-01-012023-12-3102242427ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3102242427ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3102242427ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102242427ns10:FullAccounts2023-01-012023-12-3102242427ns10:OrdinaryShareClass12023-01-012023-12-3102242427ns10:OrdinaryShareClass22023-01-012023-12-3102242427ns10:Director22023-01-012023-12-3102242427ns10:Director32023-01-012023-12-3102242427ns10:Director42023-01-012023-12-3102242427ns10:RegisteredOffice2023-01-012023-12-3102242427ns5:CurrentFinancialInstruments2023-12-3102242427ns5:CurrentFinancialInstruments2022-12-3102242427ns5:ShareCapital2023-12-3102242427ns5:ShareCapital2022-12-3102242427ns5:CapitalRedemptionReserve2023-12-3102242427ns5:CapitalRedemptionReserve2022-12-3102242427ns5:RetainedEarningsAccumulatedLosses2023-12-3102242427ns5:RetainedEarningsAccumulatedLosses2022-12-3102242427ns5:PlantMachinery2023-01-012023-12-3102242427ns5:FurnitureFittings2023-01-012023-12-3102242427ns5:MotorVehicles2023-01-012023-12-3102242427ns5:PlantMachinery2022-12-3102242427ns5:FurnitureFittings2022-12-3102242427ns5:MotorVehicles2022-12-3102242427ns5:PlantMachinery2023-12-3102242427ns5:FurnitureFittings2023-12-3102242427ns5:MotorVehicles2023-12-3102242427ns5:PlantMachinery2022-12-3102242427ns5:FurnitureFittings2022-12-3102242427ns5:MotorVehicles2022-12-3102242427ns5:CostValuation2022-12-3102242427ns5:AdditionsToInvestments2023-12-3102242427ns5:RevaluationsIncreaseDecreaseInInvestments2023-12-3102242427ns5:CostValuation2023-12-3102242427ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3102242427ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3102242427ns5:DeferredTaxation2022-12-3102242427ns5:DeferredTaxation2023-01-012023-12-3102242427ns5:DeferredTaxation2023-12-3102242427ns10:OrdinaryShareClass12023-12-3102242427ns10:OrdinaryShareClass22023-12-3102242427ns5:RetainedEarningsAccumulatedLosses2022-12-3102242427ns5:CapitalRedemptionReserve2022-12-3102242427ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31

REGISTERED NUMBER: 02242427 (England and Wales)





























Unaudited Financial Statements

for the Year Ended 31 December 2023


for



Whites Waste Papers Limited



Whites Waste Papers Limited (Registered number: 02242427)








Contents of the Financial Statements

for the Year Ended 31 December 2023





Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





Whites Waste Papers Limited



Company Information

for the Year Ended 31 December 2023









DIRECTORS:

Mr Liam Christopher Spragg


Mr Stephen Daniel Murphy


Mr James Cafferky


Mr Steven Stuart White





REGISTERED OFFICE:

Unit 1


Raikes Lane Industrial Estate


Bolton


Lancashire


BL3 2NH





REGISTERED NUMBER:

02242427 (England and Wales)





ACCOUNTANTS:

DonnellyBentley Limited


Chartered Accountants


Hazlemere


70 Chorley New Road


Bolton


Lancashire


BL1 4BY





BANKERS:

Barclays Bank plc





2ND BANKERS:

Royal Bank of Scotland plc



Whites Waste Papers Limited (Registered number: 02242427)



Balance Sheet

31 December 2023



2023


2022


Notes

£   

£   


FIXED ASSETS

Tangible assets

4

316,323


349,089



Investments

5

14,670


18,741



330,993


367,830




CURRENT ASSETS

Stocks

20,000


14,390



Debtors

6

538,755


520,097



Cash at bank and in hand

405,971


245,344



964,726


779,831



CREDITORS

Amounts falling due within one year

7

(528,424

)

(440,118

)


NET CURRENT ASSETS

436,302


339,713



TOTAL ASSETS LESS CURRENT

LIABILITIES

767,295


707,543




PROVISIONS FOR LIABILITIES

8

(79,081

)

(87,272

)


NET ASSETS

688,214


620,271




CAPITAL AND RESERVES

Called up share capital

9

860


860



Capital redemption reserve

10

200


200



Retained earnings

10

687,154


619,211



SHAREHOLDERS' FUNDS

688,214


620,271





Whites Waste Papers Limited (Registered number: 02242427)



Balance Sheet - continued

31 December 2023



The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.  


The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.  


The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2024  and were signed on its behalf by:






Mr Steven Stuart White - Director




Whites Waste Papers Limited (Registered number: 02242427)



Notes to the Financial Statements

for the Year Ended 31 December 2023


1.

STATUTORY INFORMATION



Whites Waste Papers 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 as modified by the revaluation of certain assets.    



Turnover

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


Tangible fixed assets


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


Plant and machinery

-

30% on reducing balance


Fixtures, fittings and equipment

-  

33% on cost and 30% on reducing balance


Motor vehicles

-

33% on reducing balance


Land and buildings are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


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 Statement of Income and Retained Earnings, 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.


Hire purchase and leasing commitments

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



Whites Waste Papers Limited (Registered number: 02242427)



Notes to the Financial Statements - continued

for the Year Ended 31 December 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.


Investments


Fixed asset investments are stated at the mid market price.


3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 31 (2022 - 19 ) .


4.

TANGIBLE FIXED ASSETS


Fixtures,



fittings



Plant and


and


Motor



machinery


equipment


vehicles


Totals

£   

£   

£   

£   



COST


At 1 January 2023

991,944


2,334


317,890


1,312,168




Additions

115,892


555


-


116,447




Disposals

(56,385

)

(407

)

(70,425

)

(127,217

)



At 31 December 2023

1,051,451


2,482


247,465


1,301,398




DEPRECIATION


At 1 January 2023

810,517


2,331


150,231


963,079




Charge for year

83,169


185


51,044


134,398




Eliminated on disposal

(56,097

)

(406

)

(55,899

)

(112,402

)



At 31 December 2023

837,589


2,110


145,376


985,075




NET BOOK VALUE


At 31 December 2023

213,862


372


102,089


316,323




At 31 December 2022

181,427


3


167,659


349,089




5.

FIXED ASSET INVESTMENTS


Other


investments

£   



COST OR VALUATION


At 1 January 2023

18,741




Additions

860




Revaluations

(4,931

)



At 31 December 2023

14,670




NET BOOK VALUE


At 31 December 2023

14,670




At 31 December 2022

18,741





Whites Waste Papers Limited (Registered number: 02242427)



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


5.

FIXED ASSET INVESTMENTS - continued



Cost or valuation at 31 December 2023 is represented by:



Other


investments

£   



Valuation in 2023

14,670




6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2022


£   

£   



Trade debtors

472,105


459,866




Amounts owed by group undertakings

34,948


34,948




VAT

-


2,054




Prepayments and accrued income

31,702


23,229



538,755


520,097




7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2023

2022


£   

£   



Bank loans and overdrafts

43


-




Trade creditors

352,340


269,734




Tax

65,872


81,183




Social security and other taxes

25,942


12,168




VAT

20,536


-




Other creditors

804


4,961




Directors' current accounts

46,990


61,137




Accruals and deferred income

15,897


10,935



528,424


440,118




8.

PROVISIONS FOR LIABILITIES

2023

2022


£   

£   



Deferred tax

79,081


87,272





Deferred



tax


£   



Balance at 1 January 2023

87,272




Provided during year

(8,191

)



Balance at 31 December 2023

79,081





Whites Waste Papers Limited (Registered number: 02242427)



Notes to the Financial Statements - continued

for the Year Ended 31 December 2023


9.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2023

2022



value:

£   

£   



800

Ordinary

£1

800


800




60

Ordinary B

£1

60


60



860


860




10.

RESERVES


Capital



Retained


redemption



earnings


reserve


Totals

£   

£   

£   




At 1 January 2023

619,211


200


619,411




Profit for the year

67,943


-


67,943




At 31 December 2023

687,154


200


687,354




11.

ULTIMATE CONTROLLING PARTY



Whites Waste Papers Holdings Limited were the controlling party by virtue of owning 100% of the company's share capital.