Registration number:
Capital Compactors Limited
for the Period from 1 April 2023 to 31 December 2023
Capital Compactors Limited
Contents
Company Information |
|
Strategic Report |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Independent Auditor's Report |
|
Profit and Loss Account |
|
Statement of Comprehensive Income |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
Capital Compactors Limited
Company Information
Directors |
M A Moore L R Bull D J Williams |
Company secretary |
L R Bull |
Registered office |
|
Auditors |
|
Capital Compactors Limited
Strategic Report for the Period from 1 April 2023 to 31 December 2023
The directors present their strategic report for the period from 1 April 2023 to 31 December 2023.
Principal activity
The principal activity of the company is the manufacture of commercial waste compactors
Fair review of the business
Capital Compactors Ltd was incorporated in March 2000 and is a well-established leading designer, manufacturer and supplier of high-quality waste compaction and recycling machinery for lease and sale throughout the UK. As at the end of the 31 December 2023 financial period it has 756 (2023: 796) rental machines on its fleet and provides service and maintenance contracts generating long-term recurring revenues from a prestigious client base.
The company's key financial and other performance indicators during the period were as follows:
Financial KPIs |
Unit |
2023 |
2023 |
Turnover |
£ |
6,198,593 |
7,014,719 |
Operating profit |
£ |
540,768 |
622,278 |
Principal risks and uncertainties
The revenues of the company are wholly derived from the United Kingdom and any weakness in the economy would potentially impact sales. The directors monitor cash flows as part of day-to-day control procedures and the cash flow projections are regularly reviewed to ensure that there is adequate provision to cover obligations.
Approved and authorised by the
......................................... |
Capital Compactors Limited
Directors' Report for the Period from 1 April 2023 to 31 December 2023
The directors present their report and the financial statements for the period from 1 April 2023 to 31 December 2023.
Directors of the company
The directors who held office during the period were as follows:
The following director was appointed after the period end:
Financial instruments
Objectives and policies
The revenues of the company are wholly derived from the United Kingdom and any weakness in the economy would potentially impact sales. The directors monitor cash flows as part of the day-to-day control procedures and the cash flow projections are regularly reviewed to ensure that there is adequate provision to cover obligations.
Environmental matters
We aim to continue contributing to protecting the environment by reducing our own carbon footprint and helping our customers to reduce their waste by increasing awareness of the need to recycle materials such as plastics and cardboard, as well as reducing landfill of general waste and subsequent reduction in the transportation of waste by reducing its volume.
We have increased our own in-house recycling to include mixed recycling as well as cardboard, plastics, paint tins and aerosols. We have fitted auto-sensor LED lighting throughout the manufacturing plant. We have replaced many of the older service vehicles with new lower-emission ones. We are developing components for remote machine fault diagnostics which will reduce the number of service call outs.
Going concern
The directors have assessed the company's ability to continue trading as a going concern. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Clement Rabjohns Limited as auditors of the company is to be proposed at the forthcoming Annual General Meeting.
Capital Compactors Limited
Directors' Report for the Period from 1 April 2023 to 31 December 2023
Approved and authorised by the
......................................... |
Capital Compactors Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting estimates that are reasonable and prudent; |
• |
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Capital Compactors Limited
Independent Auditor's Report to the Members of Capital Compactors Limited
Opinion
We have audited the financial statements of Capital Compactors Limited (the 'company') for the period from 1 April 2023 to 31 December 2023, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the period then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
Capital Compactors Limited
Independent Auditor's Report to the Members of Capital Compactors Limited
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• |
the information given in the Strategic Report and Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and |
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 5], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
• |
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
• |
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector; |
Capital Compactors Limited
Independent Auditor's Report to the Members of Capital Compactors Limited
• |
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including legislation such as the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation; |
• |
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
• |
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
For and on behalf of
111/113 High Street
Worcestershire
WR11 4XP
Capital Compactors Limited
Profit and Loss Account for the Period from 1 April 2023 to 31 December 2023
Note |
31 December |
31 March |
|
Turnover |
|
|
|
Cost of sales |
( |
( |
|
Gross profit |
|
|
|
Administrative expenses |
( |
( |
|
Other operating income |
( |
|
|
Operating profit |
540,768 |
622,278 |
|
Gain on financial assets at fair value through profit and loss |
- |
|
|
Other interest receivable and similar income |
|
|
|
Interest payable and similar expenses |
( |
( |
|
807 |
202,540 |
||
Profit before tax |
|
|
|
Tax on profit |
( |
( |
|
Profit for the financial period |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the period other than the results above.
Capital Compactors Limited
Statement of Comprehensive Income for the Period from 1 April 2023 to 31 December 2023
31 December |
31 March |
|
Profit for the period |
|
|
Total comprehensive income for the period |
|
|
Capital Compactors Limited
(Registration number: 03954111)
Balance Sheet as at 31 December 2023
Note |
31 December |
31 March |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
Investment property |
- |
|
|
|
|
||
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Other reserves |
- |
602,235 |
|
Retained earnings |
4,340,598 |
3,387,093 |
|
Shareholders' funds |
4,340,698 |
3,989,428 |
Approved and authorised by the
......................................... |
Capital Compactors Limited
Statement of Changes in Equity for the Period from 1 April 2023 to 31 December 2023
Share capital |
Non-distributable reserve |
Retained earnings |
Total |
|
At 1 April 2023 |
|
|
|
|
Profit for the period |
- |
- |
|
|
Dividends |
- |
- |
( |
( |
Transfers |
- |
(602,235) |
602,235 |
- |
At 31 December 2023 |
|
- |
|
|
Share capital |
Non-distributable reserve |
Retained earnings |
Total |
|
At 1 April 2022 |
|
|
|
|
Profit for the period |
- |
- |
|
|
Dividends |
- |
- |
( |
( |
Transfers |
- |
190,738 |
(190,738) |
- |
At 31 March 2023 |
100 |
602,235 |
3,387,093 |
3,989,428 |
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales, UK.
The address of its registered office is:
England
The principal place of business is:
3 Shortwood Court
Shortwood Business Park
Barnsley
South Yorkshire
S74 9LH
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Pound Sterling (£)
Name of parent of group
These financial statements are consolidated in the financial statements of Egbert Taylor Holdings Limited.
The financial statements of Egbert Taylor Holdings Limited may be obtained from Oak Park, Ryland Lane, Elmley Lovett, Droitwich, WR9 0QZ.
Disclosure of long or short period
Going concern
The financial statements have been prepared on a going concern basis.
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Judgements
Application of the accounting policies in the preparation of the financial statements requires the directors to apply judgement involving assumptions and estimates concerning future results and other developments, including the likelihood, timing or amount of future transactions or events. There can be no assurance that actual results will not materially differ from those estimates. |
Estimates and underlying expectations are continually evaluated and are based on historical experience and other factors, including expectations of future events that are reasonable under the circumstances. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. |
The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. |
i) Impairment of tangible fixed assets
|
Key sources of estimation uncertainty
i) Useful economic lives of plant and machinery;
The annual depreciation charge for plant and machinery is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See note 12 for the carrying amount of plant and machinery, and 'Tangible fixed assets' accounting policy for the depreciation policy used.
ii) Manufactured stocks and plant and machinery;
Where stocks and plant and machinery are manufactured, the cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The labour element is calculated using actual rates that have been calculated by the company.
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Revenue recognition
Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to the consideration, and sale and leaseback transactions where the balance of risk and rewards remains with the company.
The revenue for machines leased by the company to the customer is recognised according to the terms of the lease. Revenue relating to future periods is shown as deferred income.
The revenue for machines sold is recognised when ownership is transferred in accordance with the contract with the customer.
Any sales proceeds relating to the servicing and repair of machines to be provided in future periods by the company is deferred to the periods in which the services are to be undertaken. Deferred income is calculated from the beginning of the month during which the contract commences.
Other sales are recognised as delivered, installed or service performed.
The sale of items to leasing companies and the immeadiate leaseback of those items where the risk and reward of the transaction mainly remains with the company is treated purely as a financing transaction.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Asset class |
Depreciation method and rate |
Property |
2% and 10% on cost |
Plant and Machinery |
at varying rates on cost |
Fixtures and Fittings |
25% reducing balance basis |
Motor Vehicles |
25% reducing balance basis |
Investment property
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Trademarks |
10 years |
Computer Software |
25% reducing balance basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Turnover |
The analysis of the company's turnover for the period from continuing operations is as follows:
31 December |
31 March |
|
Sale of goods |
|
|
Rendering of services |
|
|
|
|
Other operating income |
The analysis of the company's other operating income for the period is as follows:
31 December |
31 March |
|
Miscellaneous other operating income |
( |
|
Operating profit |
Arrived at after charging/(crediting)
31 December |
31 March |
|
Depreciation expense |
|
|
Amortisation expense |
|
|
Profit on disposal of property, plant and equipment |
( |
( |
Other interest receivable and similar income |
31 December |
31 March |
|
Other finance income |
|
|
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Interest payable and similar expenses |
31 December |
31 March |
|
Interest on bank overdrafts and borrowings |
|
|
Interest expense on other finance liabilities |
|
|
Other finance costs |
|
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
31 December |
31 March |
|
Wages and salaries |
|
|
Social security costs |
|
|
Pension costs, defined contribution scheme |
|
|
Other employee expense |
|
|
|
|
The average number of persons employed by the company (including directors) during the period, analysed by category was as follows:
31 December |
31 March |
|
Production |
|
|
Administration and support |
|
|
|
|
Directors' remuneration |
The directors' remuneration for the period was as follows:
31 December |
31 March |
|
Remuneration |
|
|
Contributions paid to money purchase schemes |
|
|
20,155 |
20,540 |
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Auditors' remuneration |
31 December |
31 March |
|
Audit of the financial statements |
|
|
Taxation |
Tax charged/(credited) in the profit and loss account
31 December |
31 March |
|
Current taxation |
||
UK corporation tax |
|
|
Deferred taxation |
||
Arising from origination and reversal of timing differences |
( |
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the period is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
31 December |
31 March |
|
Profit before tax |
|
|
Corporation tax at standard rate |
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
Deferred tax expense relating to changes in tax rates or laws |
|
|
Tax decrease from effect of capital allowances and depreciation |
( |
( |
Tax decrease from other short-term timing differences |
( |
( |
Tax decrease arising from group relief |
( |
- |
Total tax charge |
|
|
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Deferred tax
Deferred tax assets and liabilities
2023 |
Asset |
Liability |
Accelerated tax depreciation |
- |
|
Provisions |
|
- |
|
|
2023 |
Asset |
Liability |
Accelerated tax depreciation |
- |
|
Provisions |
|
- |
- |
|
|
|
|
Intangible assets |
Internally generated software development costs |
Other intangible assets |
Total |
|
Cost or valuation |
|||
At 1 April 2023 |
|
|
|
At 31 December 2023 |
|
|
|
Amortisation |
|||
At 1 April 2023 |
|
|
|
Amortisation charge |
|
- |
|
At 31 December 2023 |
|
|
|
Carrying amount |
|||
At 31 December 2023 |
|
- |
|
At 31 March 2023 |
|
- |
|
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Tangible assets |
Land and buildings |
Property improvements |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
|
Cost or valuation |
||||||
At 1 April 2023 |
|
|
|
|
|
|
Additions |
- |
- |
|
|
|
|
Disposals |
- |
- |
( |
( |
( |
( |
At 31 December 2023 |
|
|
|
|
|
|
Depreciation |
||||||
At 1 April 2023 |
|
|
|
|
|
|
Charge for the period |
|
- |
|
|
|
|
Eliminated on disposal |
- |
- |
( |
( |
( |
( |
At 31 December 2023 |
|
|
|
|
|
|
Carrying amount |
||||||
At 31 December 2023 |
|
- |
|
|
|
|
At 31 March 2023 |
|
- |
|
|
|
|
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
31 December |
31 March |
|
Plant and machinery |
24,385 |
97,310 |
Motor vehicles |
22,984 |
- |
47,369 |
97,310 |
Restriction on title and pledged as security
Investment properties |
31 December |
|
At 1 April |
|
Disposals |
( |
At 31 December |
- |
Stocks |
31 December |
31 March |
|
Raw materials and consumables |
|
|
Work in progress |
|
|
Finished goods and goods for resale |
|
|
|
|
Debtors |
Current |
Note |
31 December |
31 March |
Trade debtors |
|
|
|
Amounts owed by related parties |
|
- |
|
Other debtors |
|
|
|
Prepayments |
|
|
|
Income tax asset |
- |
|
|
|
|
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Cash and cash equivalents |
31 December |
31 March |
|
Cash on hand |
|
|
Cash at bank |
|
|
|
|
Creditors |
Note |
31 December |
31 March |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Trade creditors |
|
|
|
Social security and other taxes |
|
|
|
Other payables |
|
|
|
Accruals |
|
|
|
Income tax liability |
218,406 |
72,633 |
|
Deferred income |
|
|
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
|
Deferred income |
|
|
|
|
|
Provisions for liabilities |
Deferred tax |
Total |
|
At 1 April 2023 |
|
|
Increase (decrease) in existing provisions |
( |
( |
At 31 December 2023 |
|
|
|
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £
Share capital |
Allotted, called up and fully paid shares
31 December |
31 March |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Loans and borrowings |
31 December |
31 March |
|
Non-current loans and borrowings |
||
Bank borrowings |
- |
|
Hire purchase contracts |
|
- |
|
|
31 December |
31 March |
|
Current loans and borrowings |
||
Bank borrowings |
- |
|
Hire purchase contracts |
|
|
|
|
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Bank borrowings
The loans were repaid during the period ended 31 December 2023. |
The finance leases are secured on the assets acquired. |
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
31 December |
31 March |
|
Not later than one year |
|
|
Later than one year and not later than five years |
|
- |
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the period was £
Operating leases - lessor
The total of future minimum lease payments is as follows:
31 December |
31 March |
|
Not later than one year |
|
|
The leasing of compactors is set at a maximum length of one year and has no purchase exercise option at the end of the term.
Dividends |
31 December |
31 March |
|||
£ |
£ |
|||
Interim dividend of £ |
60,000 |
274,099 |
||
Capital Compactors Limited
Notes to the Financial Statements for the Period from 1 April 2023 to 31 December 2023
Related party transactions |
Transactions with directors |
2023 |
At 1 April 2023 |
Advances to director |
Repayments by director |
At 31 December 2023 |
A W J Lindsay |
||||
A & J Lindsay |
|
|
( |
- |
2023 |
At 1 April 2022 |
Advances to director |
Repayments by director |
At 31 March 2023 |
A W J Lindsay |
||||
A & J Lindsay |
|
|
( |
|
Other transactions with directors |
Interest was charged on the balance owed by the directors, Mr and Mrs Lindsay, at the official rate totalling £7,891 (2023: £6,805) in the year. The balances are repayable on demand.
Expenditure with and payables to related parties
2023 |
Key management |
Leases |
|
|
2023 |
Key management |
Leases |
|
|
Loans to related parties
2023 |
Parent |
Total |
Advanced |
|
|
At end of period |
|
|
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The most senior parent entity producing publicly available financial statements is