Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Richard Mack 06/01/2017 Jason David Whitehouse 06/01/2017 24 October 2024 no description of principal activity 10550947 2024-01-31 10550947 bus:Director1 2024-01-31 10550947 bus:Director2 2024-01-31 10550947 2023-01-31 10550947 core:CurrentFinancialInstruments 2024-01-31 10550947 core:CurrentFinancialInstruments 2023-01-31 10550947 core:Non-currentFinancialInstruments 2024-01-31 10550947 core:Non-currentFinancialInstruments 2023-01-31 10550947 core:ShareCapital 2024-01-31 10550947 core:ShareCapital 2023-01-31 10550947 core:RetainedEarningsAccumulatedLosses 2024-01-31 10550947 core:RetainedEarningsAccumulatedLosses 2023-01-31 10550947 core:PlantMachinery 2023-01-31 10550947 core:Vehicles 2023-01-31 10550947 core:ComputerEquipment 2023-01-31 10550947 core:PlantMachinery 2024-01-31 10550947 core:Vehicles 2024-01-31 10550947 core:ComputerEquipment 2024-01-31 10550947 2023-02-01 2024-01-31 10550947 bus:FilletedAccounts 2023-02-01 2024-01-31 10550947 bus:SmallEntities 2023-02-01 2024-01-31 10550947 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10550947 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10550947 bus:Director1 2023-02-01 2024-01-31 10550947 bus:Director2 2023-02-01 2024-01-31 10550947 core:PlantMachinery 2023-02-01 2024-01-31 10550947 core:Vehicles 2023-02-01 2024-01-31 10550947 core:ComputerEquipment core:TopRangeValue 2023-02-01 2024-01-31 10550947 2022-02-01 2023-01-31 10550947 core:ComputerEquipment 2023-02-01 2024-01-31 10550947 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Company No: 10550947 (England and Wales)

MACKHOUSE LANDFILL SOLUTIONS LTD

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

MACKHOUSE LANDFILL SOLUTIONS LTD

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

MACKHOUSE LANDFILL SOLUTIONS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 January 2024
MACKHOUSE LANDFILL SOLUTIONS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 112,874 96,256
112,874 96,256
Current assets
Debtors 4 119,666 60,116
Cash at bank and in hand 26,432 121,674
146,098 181,790
Creditors: amounts falling due within one year 5 ( 53,112) ( 59,672)
Net current assets 92,986 122,118
Total assets less current liabilities 205,860 218,374
Creditors: amounts falling due after more than one year 6 ( 8,333) ( 33,083)
Provision for liabilities 7 ( 28,219) ( 24,064)
Net assets 169,308 161,227
Capital and reserves
Called-up share capital 100 100
Profit and loss account 169,208 161,127
Total shareholders' funds 169,308 161,227

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Mackhouse Landfill Solutions Ltd (registered number: 10550947) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Richard Mack
Director
Jason David Whitehouse
Director

24 October 2024

MACKHOUSE LANDFILL SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
MACKHOUSE LANDFILL SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mackhouse Landfill Solutions Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 80 Grove Lane, Holt, NR25 6ED, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company 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 that 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 Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 February 2023 110,104 81,063 3,986 195,153
Additions 40,649 0 0 40,649
At 31 January 2024 150,753 81,063 3,986 235,802
Accumulated depreciation
At 01 February 2023 52,176 43,680 3,041 98,897
Charge for the financial year 13,819 9,346 866 24,031
At 31 January 2024 65,995 53,026 3,907 122,928
Net book value
At 31 January 2024 84,758 28,037 79 112,874
At 31 January 2023 57,928 37,383 945 96,256
Leased assets included above:
Net book value
At 31 January 2024 0 9,990 0 9,990
At 31 January 2023 0 13,320 0 13,320

4. Debtors

2024 2023
£ £
Trade debtors 116,666 56,086
Accrued income 3,000 4,030
119,666 60,116

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 0 210
Amounts owed to directors 1,339 715
Accruals 16,800 3,555
Taxation and social security 20,223 38,859
Obligations under finance leases and hire purchase contracts 4,750 6,333
53,112 59,672

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 8,333 28,333
Obligations under finance leases and hire purchase contracts 0 4,750
8,333 33,083

Assets purchased by way of finance lease and hire purchase contracts are secured on assets to which the agreement relates.

7. Provision for liabilities

2024 2023
£ £
Deferred tax 28,219 24,064

8. Related party transactions

At the year end the directors were owed £1,339 (2023: £715) which is repayable on demand.