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REGISTERED NUMBER: 09386912 (England and Wales)















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: T D Prichard





Registered office: Earthmover's House
Llantrisant Business Park
Llantrisant
Pontyclun
CF72 8LF





Registered number: 09386912 (England and Wales)





Accountants: Haines Watts Wales LLP
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 4 196,228 414,742

Current assets
Debtors 5 1,934,998 2,053,429
Cash at bank 152,442 68,993
2,087,440 2,122,422
Creditors
Amounts falling due within one year 6 (1,455,005 ) (1,360,870 )
Net current assets 632,435 761,552
Total assets less current liabilities 828,663 1,176,294

Creditors
Amounts falling due after more than one year 7 - (62,412 )
Net assets 828,663 1,113,882

Capital and reserves
Called up share capital 9 1,000 1,000
Retained earnings 10 827,663 1,112,882
Shareholders' funds 828,663 1,113,882

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 29th October 2024 and were signed by:





T D Prichard - Director


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 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.

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 the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on cost

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 1 (2023 - 1 ) .

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 303,546 1,320,269 1,623,815
Depreciation
At 1st February 2023 167,245 1,041,828 1,209,073
Charge for year 30,353 188,161 218,514
At 31st January 2024 197,598 1,229,989 1,427,587
Net book value
At 31st January 2024 105,948 90,280 196,228
At 31st January 2023 136,301 278,441 414,742

The net carrying value of tangible fixed assets include the following in respect of assets held under finance leases or hire purchase contracts:

20242023
£   £   

Plant and machinery67,759196,431

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 316,867 528,989
Amounts owed by group undertakings 1,348,878 1,297,169
Other debtors 73,226 -
VAT 31,659 69,822
Deferred tax asset 77,633 17,449
Prepayments and accrued income 86,735 140,000
1,934,998 2,053,429

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Finance leases (see note 8) 67,759 105,738
Trade creditors 141,641 38,695
Amounts owed to group undertakings 839,355 1,002,527
Other creditors 7,000 -
Accruals and deferred income 399,250 213,910
1,455,005 1,360,870

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Finance leases (see note 8) - 62,412

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 67,759 105,738
Between one and five years - 62,412
67,759 168,150

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: £    £   
1,000 Ordinary £1 1,000 1,000

10. Reserves
Retained
earnings
£   

At 1st February 2023 1,112,882
Deficit for the year (285,219 )
At 31st January 2024 827,663

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