Company registration number 05298784 (England and Wales)
BRIER HILLS RECYCLING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BRIER HILLS RECYCLING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
BRIER HILLS RECYCLING LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
31 March 2024
31 January 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,498,948
1,507,317
Investments
5
1
1
1,498,949
1,507,318
Current assets
Stocks
29,895
17,273
Debtors
6
273,481
369,173
Cash at bank and in hand
6,240
285
309,616
386,731
Creditors: amounts falling due within one year
7
(948,857)
(942,095)
Net current liabilities
(639,241)
(555,364)
Total assets less current liabilities
859,708
951,954
Creditors: amounts falling due after more than one year
8
(78,720)
(167,049)
Provisions for liabilities
(330,783)
(331,603)
Net assets
450,205
453,302
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
450,105
453,202
Total equity
450,205
453,302

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

BRIER HILLS RECYCLING LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 October 2024 and are signed on its behalf by:
Mrs L A Mackintosh
Director
Company registration number 05298784 (England and Wales)
BRIER HILLS RECYCLING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Brier Hills Recycling Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Huggin Farm, Huggin Carr Road, Hatfield Woodhouse, Doncaster, South Yorkshire, DN7 6BY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The worldwide coronavirus (COVID-19 virus) is having a traumatic and negative effect on economies across the globe. At the present time, various actions have been taken by the UK to try and curtail its spread and manage the impact it will cause to businesses, charities and the economy. These are unprecedented times and no-one knows how long it will least and the implications and costs involved.

 

However, at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Reporting period

[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of services is recognised when the company obtains the right to receive consideration for the services rendered to its customer.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

BRIER HILLS RECYCLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
2% Straight line
Plant and machinery
15% Reducing Balance
Fixtures, fittings & equipment
15% Reducing balance
Biomass boilers
5% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank current account positive balances. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BRIER HILLS RECYCLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies are measured at.transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BRIER HILLS RECYCLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
2023
Number
Number
Total
7
8
BRIER HILLS RECYCLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Biomass boilers
Total
£
£
£
£
Cost
At 1 February 2023
230,390
1,911,920
750,633
2,892,943
Additions
-
0
196,195
-
0
196,195
Disposals
-
0
(94,740)
-
0
(94,740)
At 31 March 2024
230,390
2,013,375
750,633
2,994,398
Depreciation and impairment
At 1 February 2023
31,997
1,096,034
257,594
1,385,625
Depreciation charged in the Period
5,365
144,725
43,701
193,791
Eliminated in respect of disposals
-
0
(83,966)
-
0
(83,966)
At 31 March 2024
37,362
1,156,793
301,295
1,495,450
Carrying amount
At 31 March 2024
193,028
856,582
449,338
1,498,948
At 31 January 2023
198,393
815,886
493,038
1,507,317
5
Fixed asset investments
2024
2023
£
£
Investments
1
1
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 February 2023 & 31 March 2024
1
Carrying amount
At 31 March 2024
1
At 31 January 2023
1
BRIER HILLS RECYCLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 8 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
129,810
208,704
Other debtors
143,671
160,469
273,481
369,173
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
163,960
23,760
Obligations under finance leases
57,908
83,043
Trade creditors
72,111
107,200
Amounts owed to group undertakings
572,195
572,195
Corporation tax
893
11,846
Other taxation and social security
2,720
10,858
Other creditors
52,400
99,400
Accruals and deferred income
26,670
33,793
948,857
942,095

The bank borrowings are secured by fixed & floating charges over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital, buildings fixtures fixed plant and machinery

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
15,888
43,291
Obligations under finance leases
62,832
123,758
78,720
167,049

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

BRIER HILLS RECYCLING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 9 -
9
Related party transactions
Transactions with related parties

During the Period the company entered into the following transactions with related parties:

The bank loans from HSBC Bank plc are secured on freehold land owned by Brier Hills Limited. The balance of these loans at the balance sheet date were £17,070

10
Parent company

The parent company of Brier Hills Recycling Ltd is Brier Hills Ltd and it's registered office is Huggin Farm, Hatfield Woodhouse, Doncaster, DN7 6BY

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