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REGISTERED NUMBER: 01693178 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Woodwaste Systems Limited

Woodwaste Systems Limited (Registered number: 01693178)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Woodwaste Systems Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: D M Smith
Mrs C V Smith





SECRETARY: Mrs T Maines





REGISTERED OFFICE: Unit 14 Church Road Business Centre
Murston
Sittingbourne
Kent
ME10 3RS





REGISTERED NUMBER: 01693178 (England and Wales)





ACCOUNTANTS: Ardor Business Solutions Limited
Chartered Certified Accountants
Unit 1
Shrine Barn
Sanding Road
Hythe
Kent
CT21 4HE

Woodwaste Systems Limited (Registered number: 01693178)

Statement of Financial Position
31 January 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 138,400 165,278
Investments 6 2 2
138,402 165,280

CURRENT ASSETS
Stocks 62,492 67,178
Debtors 7 536,529 503,887
Cash at bank and in hand 455,399 553,826
1,054,420 1,124,891
CREDITORS
Amounts falling due within one year 8 158,629 204,182
NET CURRENT ASSETS 895,791 920,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,034,193

1,085,989

CREDITORS
Amounts falling due after more than one
year

9

(26,130

)

(57,875

)

PROVISIONS FOR LIABILITIES (32,222 ) (29,456 )
NET ASSETS 975,841 998,658

CAPITAL AND RESERVES
Called up share capital 66 66
Capital redemption reserve 34 34
Retained earnings 975,741 998,558
SHAREHOLDERS' FUNDS 975,841 998,658

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Woodwaste Systems Limited (Registered number: 01693178)

Statement of Financial Position - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





D M Smith - Director


Woodwaste Systems Limited (Registered number: 01693178)

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

1. STATUTORY INFORMATION

Woodwaste Systems 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 (£).


Amounts are rounded to the nearest 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Plant and machinery - at varying rates on cost
Fixtures and fittings - at varying rates on cost
Motor vehicles - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


Woodwaste Systems Limited (Registered number: 01693178)

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

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 503,375 23,685 20,506 547,566
Additions - 609 - 609
At 31 January 2024 503,375 24,294 20,506 548,175
DEPRECIATION
At 1 February 2023 345,078 23,217 13,993 382,288
Charge for year 22,237 366 4,884 27,487
At 31 January 2024 367,315 23,583 18,877 409,775
NET BOOK VALUE
At 31 January 2024 136,060 711 1,629 138,400
At 31 January 2023 158,297 468 6,513 165,278

Woodwaste Systems Limited (Registered number: 01693178)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 218,723 19,536 238,259
DEPRECIATION
At 1 February 2023 60,791 13,023 73,814
Charge for year 21,872 4,884 26,756
At 31 January 2024 82,663 17,907 100,570
NET BOOK VALUE
At 31 January 2024 136,060 1,629 137,689
At 31 January 2023 157,932 6,513 164,445

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 February 2023
and 31 January 2024 2
NET BOOK VALUE
At 31 January 2024 2
At 31 January 2023 2

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 132,942 159,825
Amounts owed by group undertakings 395,369 325,369
Other debtors 100 -
Directors' current accounts - 10,000
Prepayments 8,118 8,693
536,529 503,887

Woodwaste Systems Limited (Registered number: 01693178)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans and overdrafts 10,227 10,049
Finance leases 21,778 24,088
Trade creditors 95,933 111,437
Taxation 12,136 34,195
Social security and other taxes 2,017 2,749
VAT 3,914 8,211
Other creditors 636 694
Accrued expenses 11,988 12,759
158,629 204,182

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/24 31/1/23
£    £   
Bank loans - 1-2 years 10,404 10,227
Bank loans - 2-5 years 8,467 18,611
Finance leases 7,259 29,037
26,130 57,875

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D M Smith.