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REGISTERED NUMBER: 04993188 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 December 2023

for

W Maw Recycling Limited

W Maw Recycling Limited (Registered number: 04993188)






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


W Maw Recycling Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: T E Scarlett
Mrs J Scarlett





REGISTERED OFFICE: Haberschon Works
Steel Street
Rotherham
S61 1DF





REGISTERED NUMBER: 04993188 (England and Wales)





ACCOUNTANTS: Parkins Accountants Ltd
T/A, Parkins, Chartered Accountants
Moor Park House
Bawtry Rd
Wickersley
Rotherham
South Yorkshire
S66 2BL

W Maw Recycling Limited (Registered number: 04993188)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,741,243 1,491,843
1,741,243 1,491,843

CURRENT ASSETS
Debtors 6 782,822 632,147
Cash at bank and in hand 1,618,354 1,977,917
2,401,176 2,610,064
CREDITORS
Amounts falling due within one year 7 1,347,691 1,185,352
NET CURRENT ASSETS 1,053,485 1,424,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,794,728

2,916,555

CREDITORS
Amounts falling due after more than one
year

8

(170,507

)

(10,485

)

PROVISIONS FOR LIABILITIES 10 (295,629 ) (172,571 )
NET ASSETS 2,328,592 2,733,499

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 2,328,590 2,733,497
SHAREHOLDERS' FUNDS 2,328,592 2,733,499

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.

W Maw Recycling Limited (Registered number: 04993188)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:




T E Scarlett - Director



Mrs J Scarlett - Director


W Maw Recycling Limited (Registered number: 04993188)

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

1. STATUTORY INFORMATION

W Maw Recycling 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Buildings - not provided
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

W Maw Recycling Limited (Registered number: 04993188)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 20,000
AMORTISATION
At 1 January 2023
and 31 December 2023 20,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

W Maw Recycling Limited (Registered number: 04993188)

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

5. TANGIBLE FIXED ASSETS
Leasehold
yard
capital Plant and
costs Buildings machinery
£    £    £   
COST
At 1 January 2023 457,916 221,664 1,604,565
Additions - - 569,797
Disposals - - (391,000 )
At 31 December 2023 457,916 221,664 1,783,362
DEPRECIATION
At 1 January 2023 120,853 - 698,110
Charge for year - - 332,089
Eliminated on disposal - - (203,986 )
Transfer to ownership - - (203,165 )
At 31 December 2023 120,853 - 623,048
NET BOOK VALUE
At 31 December 2023 337,063 221,664 1,160,314
At 31 December 2022 337,063 221,664 906,455

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 26,220 14,490 2,230 2,327,085
Additions - - - 569,797
Disposals - - - (391,000 )
At 31 December 2023 26,220 14,490 2,230 2,505,882
DEPRECIATION
At 1 January 2023 4,144 9,905 2,230 835,242
Charge for year 3,312 1,147 - 336,548
Eliminated on disposal - - - (203,986 )
Transfer to ownership - - - (203,165 )
At 31 December 2023 7,456 11,052 2,230 764,639
NET BOOK VALUE
At 31 December 2023 18,764 3,438 - 1,741,243
At 31 December 2022 22,076 4,585 - 1,491,843

W Maw Recycling Limited (Registered number: 04993188)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 685,550
Transfer to ownership (15,050 )
At 31 December 2023 670,500
DEPRECIATION
At 1 January 2023 317,260
Transfer to ownership (203,165 )
At 31 December 2023 114,095
NET BOOK VALUE
At 31 December 2023 556,405
At 31 December 2022 368,290

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 653,105 519,172
Directors' current accounts - 396
Prepayments 129,717 112,579
782,822 632,147

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 10,305 20,160
Hire purchase contracts 79,834 27,517
Trade creditors 762,819 415,174
Tax 124,499 342,906
Social security and other taxes 30,467 41,052
VAT 29,374 22,431
Other creditors 299,382 311,112
Directors' current accounts 11 -
Accruals and deferred income 5,000 -
Accrued expenses 6,000 5,000
1,347,691 1,185,352

W Maw Recycling Limited (Registered number: 04993188)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) - 10,485
Hire purchase contracts 170,507 -
170,507 10,485

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,305 20,160

Amounts falling due between two and five years:
Bank loans - 2-5 years - 10,485

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 295,629 172,571

Deferred
tax
£   
Balance at 1 January 2023 172,571
Movement in year 123,058
Balance at 31 December 2023 295,629

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary A £1 2 2

12. RESERVES
Retained
earnings
£   

At 1 January 2023 2,733,497
Deficit for the year (354,907 )
Dividends (50,000 )
At 31 December 2023 2,328,590

W Maw Recycling Limited (Registered number: 04993188)

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

13. RELATED PARTY DISCLOSURES

The Director Mr T Scarlett owns the freehold land and rents this to the Company. The annual rental charged is £15,000. This is at market value. (2022: £15,000.)

14. ULTIMATE CONTROLLING PARTY

The controlling party is T S Yorkshire Ltd.