Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31170352023-01-01falseCollection of non-hazardous waste2823falsetruefalse 12384280 2023-01-01 2023-12-31 12384280 2022-01-01 2022-12-31 12384280 2023-12-31 12384280 2022-12-31 12384280 c:Director6 2023-01-01 2023-12-31 12384280 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 12384280 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 12384280 d:Buildings d:ShortLeaseholdAssets 2023-12-31 12384280 d:Buildings d:ShortLeaseholdAssets 2022-12-31 12384280 d:PlantMachinery 2023-01-01 2023-12-31 12384280 d:PlantMachinery 2023-12-31 12384280 d:PlantMachinery 2022-12-31 12384280 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12384280 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12384280 d:FurnitureFittings 2023-01-01 2023-12-31 12384280 d:FurnitureFittings 2023-12-31 12384280 d:FurnitureFittings 2022-12-31 12384280 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12384280 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12384280 d:OfficeEquipment 2023-01-01 2023-12-31 12384280 d:OfficeEquipment 2023-12-31 12384280 d:OfficeEquipment 2022-12-31 12384280 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12384280 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12384280 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12384280 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 12384280 d:CurrentFinancialInstruments 2023-12-31 12384280 d:CurrentFinancialInstruments 2022-12-31 12384280 d:Non-currentFinancialInstruments 2023-12-31 12384280 d:Non-currentFinancialInstruments 2022-12-31 12384280 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12384280 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12384280 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 12384280 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12384280 d:ShareCapital 2023-12-31 12384280 d:ShareCapital 2022-12-31 12384280 d:SharePremium 2023-12-31 12384280 d:SharePremium 2022-12-31 12384280 d:CapitalRedemptionReserve 2023-12-31 12384280 d:CapitalRedemptionReserve 2022-12-31 12384280 d:RetainedEarningsAccumulatedLosses 2023-12-31 12384280 d:RetainedEarningsAccumulatedLosses 2022-12-31 12384280 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 12384280 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 12384280 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 12384280 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 12384280 c:OrdinaryShareClass1 2023-01-01 2023-12-31 12384280 c:OrdinaryShareClass1 2023-12-31 12384280 c:OrdinaryShareClass1 2022-12-31 12384280 c:FRS102 2023-01-01 2023-12-31 12384280 c:Audited 2023-01-01 2023-12-31 12384280 c:FullAccounts 2023-01-01 2023-12-31 12384280 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12384280 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 12384280 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 12384280 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 12384280 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 12384280 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12384280 2 2023-01-01 2023-12-31 12384280 6 2023-01-01 2023-12-31 12384280 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12384280









ENVIRONMENTAL WASTE MANAGEMENT LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
REGISTERED NUMBER: 12384280

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,358,620
2,406,707

Current assets
  

Stocks
 6 
4,965
-

Debtors: amounts falling due within one year
 7 
2,675,289
2,620,703

Cash at bank and in hand
  
933,008
525,998

  
3,613,262
3,146,701

Creditors: amounts falling due within one year
 8 
(1,443,328)
(877,658)

Net current assets
  
 
 
2,169,934
 
 
2,269,043

Total assets less current liabilities
  
5,528,554
4,675,750

Creditors: amounts falling due after more than one year
 9 
(1,536,314)
(917,436)

Provisions for liabilities
  

Deferred tax
 11 
(711,851)
(590,208)

Net assets
  
 
 
3,280,389
 
 
3,168,106


Capital and reserves
  

Called up share capital 
  
100
125

Share premium account
  
155,875
155,875

Capital redemption reserve
  
25
-

Profit and loss account
  
3,124,389
3,012,106

  
3,280,389
3,168,106


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
REGISTERED NUMBER: 12384280
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 July 2024.




W L Holdaway
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Environmental Waste Management Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registration number is 12384280. Its registered office is Unit 13a, 1st Floor, Estates Office Hayleys Manor, Upland Road, Thornwood, Epping, Essex, CM16 6PQ.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The directors have assessed the company to be a going concern. The directors are not aware of any circumstances likely to arise which may cause the going concern basis to be inappropriate.

 
2.4

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Interest income

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

 
2.7

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.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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 reporting 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 reporting 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 balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

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:

Leasehold improvements
-
Straight line over 12 months
Plant and machinery
-
Straight line over 5 years
Plant and machinery-motor vehicles
-
Straight line over 3-8 years
Fixtures and fittings
-
Straight line over 5 years
Office equipment
-
Straight line over 5 years

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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

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 reporting 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.

 
2.13

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.

 
2.14

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.

Page 5

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.15

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.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts
Page 6

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.17
Financial instruments (continued)

discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
28
23

Page 7

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
-
2,639,952
7,734
26,285
2,673,971


Additions
34,200
1,787,015
5,719
17,540
1,844,474


Disposals
-
(274,026)
-
-
(274,026)



At 31 December 2023

34,200
4,152,941
13,453
43,825
4,244,419



Depreciation


At 1 January 2023
-
256,159
3,659
7,446
267,264


Charge for the year on owned assets
17,035
218,760
2,272
8,023
246,090


Charge for the year on financed assets
-
404,057
-
-
404,057


Disposals
-
(31,612)
-
-
(31,612)



At 31 December 2023

17,035
847,364
5,931
15,469
885,799



Net book value



At 31 December 2023
17,165
3,305,577
7,522
28,356
3,358,620



At 31 December 2022
-
2,383,793
4,075
18,839
2,406,707

During the year the Company changed the method of depreciating it's motor vehicles from 10 years to 3-8 years on a straight-line basis. This revised method more accurately reflects the useful lives of the assets and is more consistent with the Company's replacement style.
The change in depreciation method is a change in the accounting estimate and is accounted for in the period of change and in subsequent periods. The effect of the change in the current year has resulted in an increase to the depreciation charge of £281,390.

Page 8

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
1



At 31 December 2023

1



Impairment


Charge for the period
1



At 31 December 2023

1



Net book value



At 31 December 2023
-



At 31 December 2022
-


6.


Stocks

2023
2022
£
£

Motor vehicle parts
4,965
-



7.


Debtors

2023
2022
£
£


Trade debtors
2,076,658
1,175,385

Amounts owed by group undertakings
-
317,864

Other debtors
185,751
552,038

Prepayments and accrued income
412,880
575,416

2,675,289
2,620,703


Page 9

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
412,825
340,482

Other taxation and social security
229,661
23,456

Obligations under finance lease and hire purchase contracts
557,264
294,615

Other creditors
12,679
112,101

Accruals and deferred income
230,899
107,004

1,443,328
877,658



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
1,536,314
917,436


Hire purchase liabilities are secured over the assets to which they relate.


10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
557,264
294,615

Between 1-5 years
1,536,314
917,436

2,093,578
1,212,051


11.


Deferred taxation




2023


£






At beginning of year
(590,208)


Charged to profit or loss
(121,643)



At end of year
(711,851)

Page 10

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
11.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
834,009
590,208

Tax losses carried forward
(122,158)
-

(711,851)
(590,208)


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 125) Ordinary shares of £1.00 each
100
125

During the year 25 ordinary shares were re-purchased for £10,000 each and subsequently cancelled.



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £16,242 (2022 - £11,893). Contributions totalling £7,803 (2022 - £3,192) were payable to the fund at the reporting date and are included in creditors.


14.


Transactions with directors

2023
2022
£
£
Amounts owed as at 1 January 2023

181,750

6,000
 
Advances during the year

-

300,000
 
Credits during the year

(184,000)

(131,000)
 
Interest charges

2,250

6,750
 
Amounts owed as at 31 December 2023
-

181,750
 

Interest is charged at 1% above the HM Revenue & Customs beneficial loan rate.

Page 11

 
ENVIRONMENTAL WASTE MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

15.


Related party transactions

At the balance sheet date there were no amounts (2022 - £108,751) due to shareholders of the Company in respect of loans made. Interest was payable on the loans of 10% per annum and included in the accounts is an amount of £4,530 (2022 - £62,531) in respect of interest charged.


16.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 22 July 2024 by Stuart Moon (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 12