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REGISTERED NUMBER: 07565740 (England and Wales)














Financial Statements

for the Year Ended 31 March 2024

for

Ormskirk Skip Recycling Limited

Ormskirk Skip Recycling Limited (Registered number: 07565740)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ormskirk Skip Recycling Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M W Groves





REGISTERED OFFICE: Unit 9 Abbey Lane Industrial Estate
Burscough
Ormskirk
Lancashire
L40 7SR





REGISTERED NUMBER: 07565740 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Ormskirk Skip Recycling Limited (Registered number: 07565740)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,876,089 1,891,154
Investment property 5 684,077 493,213
2,560,166 2,384,367

CURRENT ASSETS
Debtors 6 120,208 109,914
Cash at bank 75,622 179,486
195,830 289,400
CREDITORS
Amounts falling due within one year 7 913,497 907,668
NET CURRENT LIABILITIES (717,667 ) (618,268 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,842,499 1,766,099

CREDITORS
Amounts falling due after more than one year 8 (128,735 ) (244,053 )

PROVISIONS FOR LIABILITIES (309,277 ) (313,043 )
NET ASSETS 1,404,487 1,209,003

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,404,486 1,209,002
1,404,487 1,209,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Ormskirk Skip Recycling Limited (Registered number: 07565740)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 10 September 2024 and were signed by:





M W Groves - Director


Ormskirk Skip Recycling Limited (Registered number: 07565740)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Ormskirk Skip 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.

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.
Improvements to property - not provided
Plant and machinery - 20% on reducing balance
Office Equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Ormskirk Skip Recycling Limited (Registered number: 07565740)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

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 17 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and Office
property property machinery Equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 603,750 35,232 1,925,396 4,364 2,568,742
Additions - - 280,699 430 281,129
Disposals - - (35,995 ) - (35,995 )
At 31 March 2024 603,750 35,232 2,170,100 4,794 2,813,876
DEPRECIATION
At 1 April 2023 - - 674,784 2,804 677,588
Charge for year - - 267,079 319 267,398
Eliminated on disposal - - (7,199 ) - (7,199 )
At 31 March 2024 - - 934,664 3,123 937,787
NET BOOK VALUE
At 31 March 2024 603,750 35,232 1,235,436 1,671 1,876,089
At 31 March 2023 603,750 35,232 1,250,612 1,560 1,891,154

Ormskirk Skip Recycling Limited (Registered number: 07565740)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. 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 April 2023 516,694
Additions 179,000
At 31 March 2024 695,694
DEPRECIATION
At 1 April 2023 171,082
Charge for year 87,006
At 31 March 2024 258,088
NET BOOK VALUE
At 31 March 2024 437,606
At 31 March 2023 345,612

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 493,213
Additions 190,864
At 31 March 2024 684,077
NET BOOK VALUE
At 31 March 2024 684,077
At 31 March 2023 493,213

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 97,545 91,826
Prepayments 22,663 18,088
120,208 109,914

Ormskirk Skip Recycling Limited (Registered number: 07565740)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans 74,883 124,584
Hire purchase contracts (see note 9) 192,973 134,792
Trade creditors 119,948 66,102
Tax 96,625 71,736
Social security and other taxes 9,891 5,574
VAT 29,730 32,407
Directors' current accounts 28,945 118,945
Accrued expenses 360,502 353,528
913,497 907,668

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans - 1-2 years - 74,883
Hire purchase contracts (see note 9) 128,735 169,170
128,735 244,053

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 192,973 134,792
Between one and five years 128,735 169,170
321,708 303,962

The company had non-cancellable leasing commitments of £5,640 (2023 £7,080) at the year end.

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 321,708 303,962

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

Ormskirk Skip Recycling Limited (Registered number: 07565740)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
M W Groves
Balance outstanding at start of year - 29,855
Amounts repaid - (29,855 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -