REGISTERED NUMBER: |
Llantrisant Recycling Centre Limited |
Unaudited Financial Statements for the Year Ended 31st January 2024 |
REGISTERED NUMBER: |
Llantrisant Recycling Centre Limited |
Unaudited Financial Statements for the Year Ended 31st January 2024 |
Llantrisant Recycling Centre Limited (Registered number: 09386912) |
Contents of the Financial Statements |
for the Year Ended 31st January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Llantrisant Recycling Centre Limited |
Company Information |
for the Year Ended 31st January 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
7 Neptune Court |
Vanguard Way |
Cardiff |
CF24 5PJ |
Llantrisant Recycling Centre Limited (Registered number: 09386912) |
Balance Sheet |
31st January 2024 |
2024 | 2023 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 7 | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Retained earnings | 10 |
Shareholders' funds |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Llantrisant Recycling Centre Limited (Registered number: 09386912) |
Notes to the Financial Statements |
for the Year Ended 31st January 2024 |
1. | Statutory information |
Llantrisant Recycling Centre Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
Improvements to property | - |
Plant and machinery | - |
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 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. |
Llantrisant Recycling Centre Limited (Registered number: 09386912) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2024 |
2. | Accounting policies - continued |
Hire purchase and leasing commitments |
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. |
Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed. |
Cash at bank and in hand |
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with bank and other short-term liquid investments with original maturities of three months or less. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year and recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss in other administrative expenses. |
Going concern |
At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue trading for the foreseeable future. In particular, the director reviewed the obligations under the company's finance documents and is satisfied that the company will continue to meet these obligations. Therefore the director continues to adopt the going concern basis of accounting in preparing these financial statements. |
3. | Employees and directors |
The average number of employees during the year was |
Llantrisant Recycling Centre Limited (Registered number: 09386912) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2024 |
4. | Tangible fixed assets |
Improvements |
to | Plant and |
property | machinery | Totals |
£ | £ | £ |
Cost |
At 1st February 2023 |
and 31st January 2024 |
Depreciation |
At 1st February 2023 |
Charge for year |
At 31st January 2024 |
Net book value |
At 31st January 2024 |
At 31st January 2023 |
The net carrying value of tangible fixed assets include the following in respect of assets held under finance leases or hire purchase contracts: |
2024 | 2023 |
£ | £ |
Plant and machinery | 67,759 | 196,431 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
VAT |
Deferred tax asset |
Prepayments and accrued income |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Finance leases (see note 8) |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
Accruals and deferred income |
7. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Finance leases (see note 8) |
Llantrisant Recycling Centre Limited (Registered number: 09386912) |
Notes to the Financial Statements - continued |
for the Year Ended 31st January 2024 |
8. | Leasing agreements |
Minimum lease payments under finance leases fall due as follows: |
Finance leases |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Hire purchase contracts relate to plant & machinery for the use in the business, and are secured against the assets to which they relate. |
There is an ongoing obligation for rental payments (in relation to the use of the property which the company operates from), the longevity of which cannot be quantified, as a formal lease agreement is not in place between the company and the landlord. The current annual cost if £40,833 (2023: £40,000). |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
10. | Reserves |
Retained |
earnings |
£ |
At 1st February 2023 |
Deficit for the year | ( |
) |
At 31st January 2024 |
11. | Related party disclosures |
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. |
12. | Ultimate controlling party |
At the balance sheet date Tom Prichard (Holdings) Limited owned 100% of the shares. The ultimate controlling party at the balance sheet date is T D Prichard by virtue of his 100% shareholding in Tom Prichard (Holdings) Limited. |
Consolidated financial statements are prepared by Tom Prichard (Holdings) Limited for the year ended 31st January 2024, the company's registered office is: |
Earthmover's House, |
Unit 16 Llantrisant Business Park, |
Llantrisant, |
Pontyclun |
CF74 8LF |