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REGISTERED NUMBER: 03426356 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Graham's Recycling Services Limited

Graham's Recycling Services Limited (Registered number: 03426356)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Graham's Recycling Services Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: W N Graham
G A Graham
J R Graham
M J Graham





SECRETARY: W N Graham





REGISTERED OFFICE: 21 Gold Tops
Newport
South Wales
NP20 4PG





REGISTERED NUMBER: 03426356 (England and Wales)





ACCOUNTANTS: Guilfoyle Sage LLP
21 Gold Tops
Newport
South Wales
NP20 4PG

Graham's Recycling Services Limited (Registered number: 03426356)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 831,807 553,747

CURRENT ASSETS
Stocks 6 15,960 15,350
Debtors 7 183,900 283,309
Cash at bank and in hand 95,013 344,330
294,873 642,989
CREDITORS
Amounts falling due within one year 8 284,399 378,210
NET CURRENT ASSETS 10,474 264,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

842,281

818,526

CREDITORS
Amounts falling due after more than one
year

9

(19,703

)

(30,304

)

PROVISIONS FOR LIABILITIES (166,623 ) (105,212 )
NET ASSETS 655,955 683,010

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 655,855 682,910
SHAREHOLDERS' FUNDS 655,955 683,010

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Graham's Recycling Services Limited (Registered number: 03426356)

Balance Sheet - continued
31 August 2023


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 28 August 2024 and were signed on its behalf by:




W N Graham - Director J R Graham - Director




G A Graham - Director


Graham's Recycling Services Limited (Registered number: 03426356)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Graham's Recycling Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax, where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Graham's Recycling Services Limited (Registered number: 03426356)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

3. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 9 ) .

Graham's Recycling Services Limited (Registered number: 03426356)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2022 - 1,416,898 1,416,898
Additions 61,171 496,502 557,673
Disposals - (71,097 ) (71,097 )
At 31 August 2023 61,171 1,842,303 1,903,474
DEPRECIATION
At 1 September 2022 - 863,151 863,151
Charge for year - 219,750 219,750
Eliminated on disposal - (11,234 ) (11,234 )
At 31 August 2023 - 1,071,667 1,071,667
NET BOOK VALUE
At 31 August 2023 61,171 770,636 831,807
At 31 August 2022 - 553,747 553,747

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2022 558,346
Additions 101,190
Transfer to ownership (94,364 )
At 31 August 2023 565,172
DEPRECIATION
At 1 September 2022 174,513
Charge for year 102,345
Transfer to ownership (95,696 )
At 31 August 2023 181,162
NET BOOK VALUE
At 31 August 2023 384,010
At 31 August 2022 383,833

Graham's Recycling Services Limited (Registered number: 03426356)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. STOCKS
31.8.23 31.8.22
£    £   
Work-in-progress 15,960 15,350

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 124,976 143,560
Amounts owed by group undertakings 24,845 37,697
Other debtors 34,079 102,052
183,900 283,309

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts and finance leases 87,886 101,744
Trade creditors 12,376 27,072
Taxation and social security 71,718 193,782
Other creditors 112,419 55,612
284,399 378,210

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts and finance leases 230,741 241,342
Other creditors (211,038 ) (211,038 )
19,703 30,304

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Hire purchase contracts and finance leases 318,627 343,086

Graham's Recycling Services Limited (Registered number: 03426356)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Ordinary £1 100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During 2022 the company made a loan of £211,038 to a director. The full balance of the loan remains outstanding at 31 August 2023. The loan is repayable in installments and interest will be charged at a rate of 0.5% above bank base rate.

13. RELATED PARTY DISCLOSURES

During the year the company made recharges of £364,535 (2022: £323,940 ) to Graham Metal Solutions Ltd, a company under common ownership, for goods and services purchased on their behalf.

Included in debtors is a balance of £16,367 (2022: £37,697) due from Graham Metal Solutions Limited.

During the year the company made net loans of £8,478 to its parent company Graham's Recycling Group Limited, At the year end a balance of £8,478 was due to the company from Graham's Recycling Group Limited.

Inter-group balances are deemed to be interest free and repayable on demand.