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REGISTERED NUMBER: 04274222 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Computer Salvage Specialists (Special
Waste) Limited

Computer Salvage Specialists (Special
Waste) Limited (Registered number: 04274222)

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


Computer Salvage Specialists (Special
Waste) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A G Braysher
Mrs V Braysher





SECRETARY: A G Braysher





REGISTERED OFFICE: 5 Abex Road
Bone Lane Industrial Estate
Newbury
Berkshire
RG14 5EY





REGISTERED NUMBER: 04274222 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Computer Salvage Specialists (Special
Waste) Limited (Registered number: 04274222)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,586,265 1,887,277
Investments 6 101 101
1,586,366 1,887,378

CURRENT ASSETS
Stocks 885,015 685,015
Debtors 7 3,116,778 2,348,833
Cash at bank 3,554,750 2,715,094
7,556,543 5,748,942
CREDITORS
Amounts falling due within one year 8 (1,916,805 ) (1,588,414 )
NET CURRENT ASSETS 5,639,738 4,160,528
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,226,104

6,047,906

CREDITORS
Amounts falling due after more than one
year

9

(34,498

)

(81,148

)

PROVISIONS FOR LIABILITIES 12 (294,227 ) (347,014 )
NET ASSETS 6,897,379 5,619,744

CAPITAL AND RESERVES
Called up share capital 13 200 200
Retained earnings 6,897,179 5,619,544
SHAREHOLDERS' FUNDS 6,897,379 5,619,744

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.

Computer Salvage Specialists (Special
Waste) Limited (Registered number: 04274222)

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 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 29 July 2024 and were signed on its behalf by:





A G Braysher - Director


Computer Salvage Specialists (Special
Waste) Limited (Registered number: 04274222)

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


1. STATUTORY INFORMATION

Computer Salvage Specialists (Special Waste) 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.

The functional currency of the company is pounds sterling and euro. The presentational currency is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the company's forecasts and projections, the members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Computer Salvage Specialists (Special Waste) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed. Where amounts are received in advance the recognition is deferred until such a time that the above conditions have been met.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Government grants are recognised on an accruals basis in accordance with the substance of the relevant agreement. Foreign exchange gains are recognised on transactions in foreign currencies which are translated into sterling at the rate of exchange ruling at the date of transaction with assets and liabilities in foreign currencies as at the balance sheet date translated into sterling at the rates of exchange ruling at the balance sheet date.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Computer Salvage Specialists (Special
Waste) Limited (Registered number: 04274222)

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


2. ACCOUNTING POLICIES - continued

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.
Plant and machinery etc - 33% on cost, 25% on reducing balance and at variable rates on reducing balance

Impairment
Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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.

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.


Computer Salvage Specialists (Special
Waste) Limited (Registered number: 04274222)

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


2. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company contributes to pension schemes of personnel and the pension charge represents the amounts payable by the company to the funds in respect of the year.

Provision for liabilities
Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Dividends
Dividends are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 32 ) .

Computer Salvage Specialists (Special
Waste) Limited (Registered number: 04274222)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 950,000
AMORTISATION
At 1 January 2023
and 31 December 2023 950,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 206,094 7,797,101 8,003,195
Additions - 219,342 219,342
At 31 December 2023 206,094 8,016,443 8,222,537
DEPRECIATION
At 1 January 2023 146,584 5,969,334 6,115,918
Charge for year 12,366 507,988 520,354
At 31 December 2023 158,950 6,477,322 6,636,272
NET BOOK VALUE
At 31 December 2023 47,144 1,539,121 1,586,265
At 31 December 2022 59,510 1,827,767 1,887,277

Computer Salvage Specialists (Special
Waste) Limited (Registered number: 04274222)

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
etc
£   
COST
At 1 January 2023 628,768
Transfer to ownership (348,868 )
At 31 December 2023 279,900
DEPRECIATION
At 1 January 2023 249,270
Charge for year 65,602
Transfer to ownership (231,777 )
At 31 December 2023 83,095
NET BOOK VALUE
At 31 December 2023 196,805
At 31 December 2022 379,498

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 101
NET BOOK VALUE
At 31 December 2023 101
At 31 December 2022 101

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 642,709 654,614
Other debtors 2,474,069 1,694,219
3,116,778 2,348,833

Computer Salvage Specialists (Special
Waste) Limited (Registered number: 04274222)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,079 5,760
Hire purchase contracts (see note 10) 46,650 46,650
Trade creditors 932,983 755,390
Amounts owed to group undertakings 1 1
Taxation and social security 822,244 747,276
Other creditors 64,848 33,337
1,916,805 1,588,414

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 10) 34,498 81,148

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 46,650 46,650
Between one and five years 34,498 81,148
81,148 127,798

Non-cancellable operating leases
2023 2022
£    £   
Within one year 25,375 50,750
Between one and five years - 25,375
25,375 76,125

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 81,148 127,798

Computer Salvage Specialists (Special
Waste) Limited (Registered number: 04274222)

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


12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 294,227 347,014

Deferred
tax
£   
Balance at 1 January 2023 347,014
Provided during year (52,787 )
Balance at 31 December 2023 294,227

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100
100 B Ordinary £1 100 100
200 200

14. RELATED PARTY DISCLOSURES

As at the balance sheet date £1 (2022: £1) was owing to its subsidiary company Computer Salvage Specialists Limited and included in creditors falling due within one year. The loan is interest free and repayable on demand.

During the year the company paid rent and management fees of £25,00 (2022: £25,000) to a limited liability partnership connected with key management personnel.