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Registered number: 03465362





 
Eastern Waste Disposal Limited          
 
Financial statements          

For the year ended 31 January 2024          

 
Eastern Waste Disposal Limited
Registered number:03465362

Balance sheet
As at 31 January 2024


2024

2023 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
1,320,953
1,584,121

Current assets
  

Debtors
 5 
2,260,603
1,909,849

Cash at bank and in hand
 6 
4,640
19,930

  
2,265,243
1,929,779

Creditors: amounts falling due within one year
 7 
(444,855)
(472,831)

Net current assets
  
 
 
1,820,388
 
 
1,456,948

Total assets less current liabilities
  
3,141,341
3,041,069

Creditors: amounts falling due after more than one year
 8 
(77,382)
(167,202)

Provisions for liabilities
  

Deferred tax
 10 
(330,239)
(396,031)

Net assets
  
2,733,720
2,477,836


Capital and reserves
  

Called up share capital 
 11 
100
100

Revaluation reserve
  
560,048
560,048

Profit and loss account
  
2,173,572
1,917,688

  
2,733,720
2,477,836


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 8 August 2024.





E Barnes
Director


The notes on pages 3 to 10 form part of these financial statements.
Page 1

 
Eastern Waste Disposal Limited
 

Statement of changes in equity
For the year ended 31 January 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 February 2023
100
560,048
1,917,688
2,477,836



Profit for the year
-
-
255,884
255,884


At 31 January 2024
100
560,048
2,173,572
2,733,720






 


Statement of changes in equity
For the year ended 31 January 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 February 2022
100
-
1,898,138
1,898,238



Profit for the year
-
-
19,550
19,550

Surplus on revaluation of tangible fixed assets
-
746,731
-
746,731

Deferred taxation on revaluation of tangible fixed assets
-
(186,683)
-
(186,683)


At 31 January 2023
100
560,048
1,917,688
2,477,836










The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
Eastern Waste Disposal Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

1.


General information

Eastern Waste Disposal Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ. The company's main place of business is Morseas Lane, Brightlingsea, Colchester, CO7 0SD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
Eastern Waste Disposal Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.6

Borrowing costs

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

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
Eastern Waste Disposal Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the reducing balance basis and the straight line basis.

Depreciation is provided at the following rates:

Long-term leasehold property
-
straight line over useful life of the lease
Plant and machinery
-
straight line over useful life of asset or lease
Motor vehicles
-
25% reducing balance
Heavy plant
-
20 year straight line up to residual value

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Revaluation of tangible fixed assets

Individual items of plant and equipment are carried at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence and having regard to advice taken from professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
Eastern Waste Disposal Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
Eastern Waste Disposal Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Motor vehicles
Fixtures and fittings
Heavy plant and machinery
Total

£
£
£
£
£
£



Cost 


At 1 February 2023
938,555
851,997
375,542
3,750
2,636,387
4,806,231


Disposals
-
(52,500)
(272,996)
-
-
(325,496)


Transfers between classes
-
56,936
-
-
(56,936)
-



At 31 January 2024

938,555
856,433
102,546
3,750
2,579,451
4,480,735



Depreciation


At 1 February 2023
612,050
549,510
220,413
3,750
1,836,387
3,222,110


Charge for the year: owned
46,928
23,390
-
-
-
70,318


Charge for the year: financed
-
17,121
-
-
-
17,121


Disposals
-
(30,625)
(119,142)
-
-
(149,767)


Transfers between classes
-
56,936
-
-
(56,936)
-



At 31 January 2024

658,978
616,332
101,271
3,750
1,779,451
3,159,782



Net book value



At 31 January 2024
279,577
240,101
1,275
-
800,000
1,320,953



At 31 January 2023
326,505
302,487
155,129
-
800,000
1,584,121


The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
136,048
172,848

Heavy plant and machinery
300,000
300,000

436,048
472,848

Page 7

 
Eastern Waste Disposal Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

5.


 
 
Debtors

2024
2023
£
£


Trade debtors
1,012
9,920

Amounts owed by parent company
2,215,494
1,830,121

Other debtors
5,374
56,808

Prepayments and accrued income
38,723
13,000

2,260,603
1,909,849



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,640
19,930



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
75,042

Trade creditors
149,875
139,261

Other taxation and social security
199,935
45,998

Obligations under finance lease and hire purchase contracts
85,351
196,530

Accruals and deferred income
9,694
16,000

444,855
472,831



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
77,382
167,202


Page 8

 
Eastern Waste Disposal Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
85,351
196,530

Between 1-5 years
77,382
167,202

162,733
363,732


10.


Deferred taxation




2024
2023


£

£






At beginning of year
396,031
184,130


(Released during)/charged for the year
(65,792)
25,218


Charged to other comprehensive income
-
186,683



At end of year
330,239
396,031

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
143,556
209,348

Unrealised surplus on revaluation of tangible fixed assets
186,683
186,683

330,239
396,031


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary A shares of £1.00 each
100
100


Page 9

 
Eastern Waste Disposal Limited
 
 
Notes to the financial statements
For the year ended 31 January 2024

12.


Related party transactions

The directors have elected to take advantage of the exemption as set out in paragraph 33.1A of FRS 102, and have therefore not disclosed transactions with wholly owned members of the group.


13.


Ultimate parent undertaking and controlling party

The ultimate parent undertaking is Dunmow Skips Limited, a company incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ.
The ultimate controlling parties are SA Malins and E Barnes who are directors of the company.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.

The audit report was signed on 8 August 2024 by Mr Steven James Garrod (Senior statutory auditor) on behalf of Clay Ratnage Strevens & Hills.

 
Page 10