D & P Waste Paper & Plastic Recycling Limited 03111102 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Recovery Of Sorted Materials Digita Accounts Production Advanced 6.30.9574.0 true true 03111102 2023-01-01 2023-12-31 03111102 2023-12-31 03111102 core:CurrentFinancialInstruments 2023-12-31 03111102 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03111102 core:FurnitureFittings 2023-12-31 03111102 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 03111102 core:MotorVehicles 2023-12-31 03111102 core:PlantMachinery 2023-12-31 03111102 bus:SmallEntities 2023-01-01 2023-12-31 03111102 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03111102 bus:FilletedAccounts 2023-01-01 2023-12-31 03111102 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03111102 bus:RegisteredOffice 2023-01-01 2023-12-31 03111102 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 03111102 bus:Director2 2023-01-01 2023-12-31 03111102 bus:Director3 2023-01-01 2023-12-31 03111102 bus:Director4 2023-01-01 2023-12-31 03111102 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03111102 core:Goodwill 2023-01-01 2023-12-31 03111102 core:FurnitureFittings 2023-01-01 2023-12-31 03111102 core:LandBuildings 2023-01-01 2023-12-31 03111102 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03111102 core:MotorCars 2023-01-01 2023-12-31 03111102 core:MotorVehicles 2023-01-01 2023-12-31 03111102 core:PlantMachinery 2023-01-01 2023-12-31 03111102 countries:EnglandWales 2023-01-01 2023-12-31 03111102 2022-12-31 03111102 core:FurnitureFittings 2022-12-31 03111102 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 03111102 core:MotorVehicles 2022-12-31 03111102 core:PlantMachinery 2022-12-31 03111102 2022-01-01 2022-12-31 03111102 2022-12-31 03111102 core:CurrentFinancialInstruments 2022-12-31 03111102 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03111102 core:FurnitureFittings 2022-12-31 03111102 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 03111102 core:MotorVehicles 2022-12-31 03111102 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 03111102

D & P Waste Paper & Plastic Recycling Limited

trading as D & P Waste Paper & Plastic Recycling Li

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

D & P Waste Paper & Plastic Recycling Limited

trading as D & P Waste Paper & Plastic Recycling Li

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

D & P Waste Paper & Plastic Recycling Limited

trading as D & P Waste Paper & Plastic Recycling Li

Company Information

Directors

Mrs Joan Devaney

Mrs Helena Elizabeth Garrity

Mrs Gail Louise Fisher

Mrs Maxine Sara Sadler

Company secretary

Mrs Joan Devaney

Registered office

14 High Street
Tettenhall
Wolverhampton
West Midlands
WV6 8QT

Accountants

Onyx Accountants Limited
Chartered Management Accountants
Onyx House
12 Phoenix Business Park
Avenue Close
Birmingham
West Midlands
B7 4NU

 

D & P Waste Paper & Plastic Recycling Limited

trading as D & P Waste Paper & Plastic Recycling Li

(Registration number: 03111102)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

316,354

328,402

Current assets

 

Stocks

6

20,000

20,000

Debtors

7

21,963

17,736

Cash at bank and in hand

 

18,800

48,090

 

60,763

85,826

Prepayments and accrued income

 

34,100

35,887

Creditors: Amounts falling due within one year

(156,248)

(152,863)

Net current liabilities

 

(61,385)

(31,150)

Total assets less current liabilities

 

254,969

297,252

Provisions for liabilities

-

(5,095)

Accruals and deferred income

 

(5,419)

(9,461)

Net assets

 

249,550

282,696

Capital and reserves

 

Called up share capital

250,100

250,100

Retained earnings

(550)

32,596

Shareholders' funds

 

249,550

282,696

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

D & P Waste Paper & Plastic Recycling Limited

trading as D & P Waste Paper & Plastic Recycling Li

(Registration number: 03111102)
Abridged Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 5 September 2024 and signed on its behalf by:
 

.........................................
Mrs Joan Devaney
Company secretary and director

 

D & P Waste Paper & Plastic Recycling Limited

trading as D & P Waste Paper & Plastic Recycling Li

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
14 High Street
Tettenhall
Wolverhampton
West Midlands
WV6 8QT
England

These financial statements were authorised for issue by the Board on 5 September 2024.

2

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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.

 

D & P Waste Paper & Plastic Recycling Limited

trading as D & P Waste Paper & Plastic Recycling Li

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

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.

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:

Asset class

Depreciation method and rate

Freehold Property

2% on cost

Plant & Machinery

15% on reducing balance

Fixtures & fittings

15% on reducing balance

Motor Vehicles

25% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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:

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.

 

D & P Waste Paper & Plastic Recycling Limited

trading as D & P Waste Paper & Plastic Recycling Li

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

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.

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 7).

 

D & P Waste Paper & Plastic Recycling Limited

trading as D & P Waste Paper & Plastic Recycling Li

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

4

Intangible assets

Total
£

Cost or valuation

At 1 January 2023

35,000

At 31 December 2023

35,000

Amortisation

At 1 January 2023

35,000

At 31 December 2023

35,000

Carrying amount

At 31 December 2023

-

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 January 2023

380,387

5,704

155,292

68,761

At 31 December 2023

380,387

5,704

155,292

68,761

Depreciation

At 1 January 2023

80,486

3,895

130,240

67,121

Charge for the year

7,608

271

3,758

411

At 31 December 2023

88,094

4,166

133,998

67,532

Carrying amount

At 31 December 2023

292,293

1,538

21,294

1,229

At 31 December 2022

299,901

1,809

25,052

1,640

 

D & P Waste Paper & Plastic Recycling Limited

trading as D & P Waste Paper & Plastic Recycling Li

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

Total
£

Cost or valuation

At 1 January 2023

610,144

At 31 December 2023

610,144

Depreciation

At 1 January 2023

281,742

Charge for the year

12,048

At 31 December 2023

293,790

Carrying amount

At 31 December 2023

316,354

At 31 December 2022

328,402

Included within the net book value of land and buildings above is £292,293 (2022 - £299,901) in respect of freehold land and buildings.
 

6

Stocks

2023
£

2022
£

Other inventories

20,000

20,000

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.