Caseware UK (AP4) 2023.0.135 2023.0.135 131126waste collection and recycling125false2023-02-01126falsefalsefalse 04300744 2023-02-01 2024-01-31 04300744 2022-02-01 2023-01-31 04300744 2024-01-31 04300744 2023-01-31 04300744 2022-02-01 04300744 c:CompanySecretary1 2023-02-01 2024-01-31 04300744 c:Director1 2023-02-01 2024-01-31 04300744 c:Director2 2023-02-01 2024-01-31 04300744 c:RegisteredOffice 2023-02-01 2024-01-31 04300744 d:Buildings d:ShortLeaseholdAssets 2023-02-01 2024-01-31 04300744 d:Buildings d:ShortLeaseholdAssets 2024-01-31 04300744 d:Buildings d:ShortLeaseholdAssets 2023-01-31 04300744 d:PlantMachinery 2023-02-01 2024-01-31 04300744 d:PlantMachinery 2024-01-31 04300744 d:PlantMachinery 2023-01-31 04300744 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04300744 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 04300744 d:MotorVehicles 2023-02-01 2024-01-31 04300744 d:MotorVehicles 2024-01-31 04300744 d:MotorVehicles 2023-01-31 04300744 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04300744 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 04300744 d:OfficeEquipment 2023-02-01 2024-01-31 04300744 d:OfficeEquipment 2024-01-31 04300744 d:OfficeEquipment 2023-01-31 04300744 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04300744 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 04300744 d:ComputerEquipment 2023-02-01 2024-01-31 04300744 d:ComputerEquipment 2024-01-31 04300744 d:ComputerEquipment 2023-01-31 04300744 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04300744 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 04300744 d:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 04300744 d:OtherPropertyPlantEquipment 2024-01-31 04300744 d:OtherPropertyPlantEquipment 2023-01-31 04300744 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04300744 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 04300744 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04300744 d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 04300744 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-31 04300744 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 04300744 d:Goodwill 2023-02-01 2024-01-31 04300744 d:Goodwill 2024-01-31 04300744 d:Goodwill 2023-01-31 04300744 d:CurrentFinancialInstruments 2024-01-31 04300744 d:CurrentFinancialInstruments 2023-01-31 04300744 d:Non-currentFinancialInstruments 2024-01-31 04300744 d:Non-currentFinancialInstruments 2023-01-31 04300744 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 04300744 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 04300744 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 04300744 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 04300744 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 04300744 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 04300744 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 04300744 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 04300744 d:ShareCapital 2024-01-31 04300744 d:ShareCapital 2023-01-31 04300744 d:ShareCapital 2022-02-01 04300744 d:SharePremium 2024-01-31 04300744 d:SharePremium 2023-01-31 04300744 d:SharePremium 2022-02-01 04300744 d:RevaluationReserve 2024-01-31 04300744 d:RevaluationReserve 2022-02-01 2023-01-31 04300744 d:RevaluationReserve 2023-01-31 04300744 d:RevaluationReserve 2022-02-01 04300744 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 04300744 d:RetainedEarningsAccumulatedLosses 2024-01-31 04300744 d:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 04300744 d:RetainedEarningsAccumulatedLosses 2023-01-31 04300744 d:RetainedEarningsAccumulatedLosses 2022-02-01 04300744 c:OrdinaryShareClass1 2023-02-01 2024-01-31 04300744 c:OrdinaryShareClass1 2024-01-31 04300744 c:OrdinaryShareClass1 2023-01-31 04300744 c:OrdinaryShareClass2 2023-02-01 2024-01-31 04300744 c:OrdinaryShareClass2 2024-01-31 04300744 c:OrdinaryShareClass2 2023-01-31 04300744 c:FRS102 2023-02-01 2024-01-31 04300744 c:Audited 2023-02-01 2024-01-31 04300744 c:FullAccounts 2023-02-01 2024-01-31 04300744 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04300744 d:Subsidiary1 2023-02-01 2024-01-31 04300744 d:Subsidiary1 1 2023-02-01 2024-01-31 04300744 d:Subsidiary2 2023-02-01 2024-01-31 04300744 d:Subsidiary2 1 2023-02-01 2024-01-31 04300744 d:Subsidiary3 2023-02-01 2024-01-31 04300744 d:Subsidiary3 1 2023-02-01 2024-01-31 04300744 d:Subsidiary4 2023-02-01 2024-01-31 04300744 d:Subsidiary4 1 2023-02-01 2024-01-31 04300744 d:Subsidiary5 2023-02-01 2024-01-31 04300744 d:Subsidiary5 1 2023-02-01 2024-01-31 04300744 d:Subsidiary6 2023-02-01 2024-01-31 04300744 d:Subsidiary6 1 2023-02-01 2024-01-31 04300744 d:WithinOneYear 2024-01-31 04300744 d:WithinOneYear 2023-01-31 04300744 d:BetweenOneFiveYears 2024-01-31 04300744 d:BetweenOneFiveYears 2023-01-31 04300744 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 04300744 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 04300744 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-01-31 04300744 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 04300744 c:Consolidated 2024-01-31 04300744 c:ConsolidatedGroupCompanyAccounts 2023-02-01 2024-01-31 04300744 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 04300744 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 04300744 d:TaxLossesCarry-forwardsDeferredTax 2024-01-31 04300744 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 04300744 d:OtherDeferredTax 2024-01-31 04300744 d:OtherDeferredTax 2023-01-31 04300744 5 2023-02-01 2024-01-31 04300744 6 2023-02-01 2024-01-31 04300744 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04300744





 
Dunmow Skips Ltd          
 
Consolidated financial statements          

For the year ended 31 January 2024          

 
Dunmow Skips Ltd
 
 
Company information


Directors
Mr E Barnes 
Mr S A Malins 




Company secretary
Mrs J E Malins   
Mr S Malins



Registered number
04300744



Registered office
Construction House
Runwell Road

Wickford

Essex

SS11 7HQ





 
Dunmow Skips Ltd
 

Contents



Page
Directors' report
 
1 - 2
Group strategic report
 
3 - 4
Independent auditors' report
 
5 - 8
Consolidated statement of comprehensive income
 
9
Consolidated balance sheet
 
10
Company balance sheet
 
11 - 13
Consolidated statement of changes in equity
 
14
Company statement of changes in equity
 
15
Consolidated statement of cash flows
 
16 - 17
Consolidated analysis of net debt
 
18
Notes to the financial statements
 
19 - 42


 
Dunmow Skips Ltd
 
 
Directors' report
For the year ended 31 January 2024

The directors present their report and the financial statements for the year ended 31 January 2024.

Results

The profit for the year, after taxation, amounted to £632,928 (2023 - £140,934).

Further information on the performance of the group during the year and the group's state of affairs at the balance sheet date are noted within the strategic report on pages 3 to 4.
 

Dividends

Dividends amounting to £202,327 (2023 - £268,800) were paid during the year. The directors do not recommend the payment of any further dividends. 
 

Directors

The directors who served during the year were:

Mr E Barnes 
Mr S A Malins 

 
Fixed assets

Details of movements in fixed assets are set out in the notes to the accounts.
 

Events since the end of the year

There have been no events subsequent to the year end which materially affect the results for the year or the group's state of affairs at 31 January 2024. 
 

Future developments

The directors are not aware of any likely future developments which would have a significant effect on the group. 
 

Research and development activities

The group is involved in numerous research and development projects. 
 

Close company

The parent company and its subsidiaries are close companies within the meaning of S.439 CTA 2010. 
 

Page 1

 
Dunmow Skips Ltd
 
 
Directors' report (continued)
For the year ended 31 January 2024

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
 

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the company and the group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the group's auditors are aware of that information.

 
Auditors

Under section 487(2) of the Companies Act 2006Clay Ratnage Strevens & Hills will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

This report was approved by the board on 8 August 2024 and signed on its behalf.
 





Mr E Barnes
Director

Page 2

 
Dunmow Skips Ltd
 
 
Group strategic report
For the year ended 31 January 2024

Introduction
 
The group's principal activity is that of waste collection and recycling and there was no change in this activity during the year.
 

Business review
 
The directors are pleased with the overall performance of the group, considering the market conditions prevailing during the year under review.
The gross profit achieved by the group continued to improve during the year, increasing from £6,716,141 for the year ended 31 January 2023 to £7,275,518 for the year ended 31 January 2024. The group also achieved an increase in gross profit margin, from 29.83% in the year ended 2023, up to 31.88% for the year under review.  As a result of the rising inflation and interest rates prevailing during the year, the group increased the prices of its core services. At the same time the group constantly monitored its efficiency and capacity during the year, and in doing so was able to better able to control operating costs. The result of this was an increase in the overall profitability of the group, up to £530,351 in the year ended 2024, from £140,934 in the year prior.  
The group continued to be exposed to increasing interest rates during the year which reached a peak of 5.25%, up from 3.5% in the year ended 2023. 
The group has continued to invest in its capital assets, in addition to growth schemes which are vital to the groups expansion. 

Principal risks and uncertainties
 
The principal risks and uncertainties identified by the directors relate to factors concerning the price volatility of raw materials and disposal costs; the effect of government taxation and waste policies; and the management of cash resources.
The group is, however, in a good position operationally to adapt to continuing changes in raw material prices and is able to provide flexibility in the services it provides to its customers, in order to ensure that uncertainties concerning the general state of the economy can be mitigated as much as possible.
The directors closely monitor the group's cash resources and make use of facilities to ensure that liabilities can be met as they fall due.

Financial key performance indicators
 
The directors consider that the key financial performance indicators are as follows:
Gross Profit Percentage - The directors confirm that the gross profit margin has risen since last year to 31.88% due to the factors mentioned in the business review. The group continues to adapt to local competition and looks to maintain its market share in its operational area as well as implement cost control to improve margins in future periods.
EBITDA - The directors confirm that EBITDA has increased to £3,145,911 
(2023 - £2,914,031) as a result of the factors discussed above.
The group's net value - The directors confirm that the net value has increased to £4,111,659 
(2023 - £3,664,535) during the year.

 
Page 3

 
Dunmow Skips Ltd
 

Group strategic report (continued)
For the year ended 31 January 2024


This report was approved by the board on 8 August 2024 and signed on its behalf.



Mr E Barnes
Director

Page 4

 
Dunmow Skips Ltd
 
 
Independent auditors' report to the members of Dunmow Skips Ltd
 

Opinion


We have audited the financial statements of Dunmow Skips Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2024, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the group's and of the parent company's affairs as at 31 January 2024 and of the group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 5

 
Dunmow Skips Ltd
 
 
Independent auditors' report to the members of Dunmow Skips Ltd (continued)

Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
Dunmow Skips Ltd
 
 
Independent auditors' report to the members of Dunmow Skips Ltd (continued)

Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

To identify risks of material misstatement due to fraud we assess events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures include: 
• Obtaining an understanding of the legal and regulatory frameworks applicable to the group and the sectors in which it        operates. 
• Obtaining an understanding of how the group is complying with those legal and regulatory frameworks by making enquiries to the group accounting department and management.
• Assessing the susceptibility of the group financial statements to material misstatement caused by fraud or other irregularities, by undertaking the following procedures:
- Identifying and assessing the design effectiveness of controls which management have in place to prevent and detect      fraud.
- Understanding how those charged with governance consider and address the potential for override of controls and         management bias.
- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.
- Assessing the extent of compliance with the relevant laws and regulations.
- Assessing the extent to which pressures exist which may increase the risk of fraudulent revenue recognition.
Potential fraud risks that had been identified throughout the planning and commencement of the audit were communicated to the audit team, as well as potential risks pertaining to the group of which this company is a member.
The inherent limitations of audit present an unavoidable risk that we, the auditors, may not detect some material misstatements within the financial statements despite proper planning and performance of our duties as auditors. Equally, there remains a risk of the non-detection of fraud which could involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. The audit procedures carried out are designed to detect material misstatements within the financial statements. We take no responsibility for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations. 


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Page 7

 
Dunmow Skips Ltd
 
 
Independent auditors' report to the members of Dunmow Skips Ltd (continued)

Use of our report
 

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.



 


 
Clay Ratnage Strevens & Hills
Steven James Garrod (Senior statutory auditor)
For and on behalf of Clay Ratnage Strevens and Hills
Statutory Auditors
  
Construction House
Runwell Road
Wickford
Essex
SS11 7HQ

8 August 2024
Page 8

 
Dunmow Skips Ltd
 
 
Consolidated statement of comprehensive income
For the year ended 31 January 2024

2024
2023
                                                                                                                                        Note
£
£

  

Turnover
 4 
22,817,659
22,515,678

Cost of sales
  
(15,542,141)
(15,799,537)

Gross profit
  
7,275,518
6,716,141

Administrative expenses
  
(5,762,906)
(5,589,710)

Other operating income
 5 
224,184
158,074

Operating profit
  
1,736,796
1,284,505

Amounts written off investments
  
12,052
-

Interest receivable and similar income
 10 
2,277
283

Interest payable and similar expenses
 11 
(801,820)
(805,887)

Profit before tax
  
949,305
478,901

Tax on profit
 12 
(316,377)
(337,967)

Profit for the financial year
  
632,928
140,934

Other comprehensive income for the year
  

Unrealised deficit on revaluation of tangible fixed assets
  
-
(33,289)

Total comprehensive income for the year
  
632,928
107,645

  

  











The notes on pages 19 to 42 form part of these financial statements. 
Page 9

 
Dunmow Skips Ltd
Registered number:04300744

Consolidated balance sheet
As at 31 January 2024


2024

2023 
                                                                     Note
£
£
£
£

Fixed assets
  

Intangible assets
 14 
1,891,758
1,977,748

Tangible assets
 15 
13,830,345
14,011,292

Investments
 16 
9,286
9,286

  
15,731,389
15,998,326

Current assets
  

Stock
 17 
85,508
52,742

Debtors: falling due after more than one year
 18 
-
2,352,813

Debtors: falling due within one year
 18 
5,993,730
3,326,073

Cash at bank and in hand
 19 
95,104
172,029

  
6,174,342
5,903,657

Creditors: amounts falling due within one year
 20 
(8,681,320)
(8,844,024)

Net current liabilities
  
 
 
(2,506,978)
 
 
(2,940,367)

Total assets less current liabilities
  
13,224,411
13,057,959

Creditors: amounts falling due after more than one year
 21 
(7,462,687)
(8,043,213)

Provisions for liabilities
  

Deferred taxation
 24 
(1,666,588)
(1,350,211)

Net assets
  
4,095,136
3,664,535


Capital and reserves
  

Called up share capital 
 25 
112
112

Share premium account
  
6
6

Revaluation reserve
  
416,108
416,108

Profit and loss account
  
3,678,910
3,248,309

  
4,095,136
3,664,535


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



Mr E Barnes
Director


The notes on pages 19 to 42 form part of these financial statements. 
Page 10

 
Dunmow Skips Ltd
Registered number:04300744

Company balance sheet
As at 31 January 2024


2024

202
                                                                               Note
£
£
£
£

Fixed assets
  

Tangible assets
 15 
10,481,269
10,355,062

Investments
 16 
6,754,882
6,754,882

  
17,236,151
17,109,944

Current assets
  

Stock
 17 
85,508
52,742

Debtors: falling due after more than one year
 18 
-
2,352,813

Debtors: falling due within one year
 18 
5,948,620
3,296,261

Cash at bank and in hand
 19 
90,464
152,098

  
6,124,592
5,853,914

Creditors: amounts falling due within one year
 20 
(10,467,972)
(10,255,193)

Net current liabilities
  
 
 
(4,343,380)
 
 
(4,401,279)

Total assets less current liabilities
  
12,892,771
12,708,665

  

Creditors: amounts falling due after more than one year
 21 
(7,385,306)
(7,876,010)

Provisions for liabilities
  

Deferred taxation
 24 
(1,523,030)
(1,140,863)

Net assets
  
3,984,435
3,691,792


Capital and reserves
  

Called up share capital 
 25 
112
112

Share premium account
  
6
6

Revaluation reserve
  
416,108
416,108

Profit and loss account
  
3,568,209
3,275,566

  
3,984,435
3,691,792


Page 11

 
Dunmow Skips Ltd
Registered number:04300744
    
Company balance sheet (continued)
As at 31 January 2024

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





Mr E Barnes
Director























The notes on pages 19 to 42 form part of these financial statements
Page 12

 
Dunmow Skips Ltd
Registered number:04300744
    
Company balance sheet (continued)
As at 31 January 2024


Page 13

 
Dunmow Skips Ltd
 

Consolidated statement of changes in equity
For the year ended 31 January 2024


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

£
£
£
£
£

At 1 February 2023
112
6
416,108
3,248,309
3,664,535



Profit for the year
-
-
-
632,928
632,928

Dividends: Equity capital
-
-
-
(202,327)
(202,327)


At 31 January 2024
112
6
416,108
3,678,910
4,095,136





 


Consolidated statement of changes in equity
For the year ended 31 January 2023


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

£
£
£
£
£

At 1 February 2022
112
6
449,397
3,376,175
3,825,690



Profit for the year
-
-
-
140,934
140,934

Deficit on revaluation of fixed assets
-
-
(33,289)
-
(33,289)

Dividends: Equity capital
-
-
-
(268,800)
(268,800)


At 31 January 2023
112
6
416,108
3,248,309
3,664,535









The notes on pages 18 - 41 form part of these financial statements.

Page 14

 
Dunmow Skips Ltd
 

Company statement of changes in equity
For the year ended 31 January 2024


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

£
£
£
£
£

At 1 February 2023
112
6
416,108
3,275,566
3,691,792



Profit for the year
-
-
-
494,970
494,970

Dividends: Equity capital
-
-
-
(202,327)
(202,327)


At 31 January 2024
112
6
416,108
3,568,209
3,984,435





 


Company statement of changes in equity
For the year ended 31 January 2023


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

£
£
£
£
£

At 1 February 2022
112
6
449,397
3,316,687
3,766,202



Profit for the year
-
-
-
227,679
227,679

Deficit on revaluation of fixed assets
-
-
(33,289)
-
(33,289)

Dividends: Equity capital
-
-
-
(268,800)
(268,800)


At 31 January 2023
112
6
416,108
3,275,566
3,691,792









The notes on pages 19 to 42 form part of these financial statements.

Page 15

 
Dunmow Skips Ltd
 

Consolidated statement of cash flows
For the year ended 31 January 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
632,928
140,934

Adjustments for:

Amortisation of intangible assets
85,990
85,990

Depreciation of tangible assets
1,574,874
1,543,253

Impairments of fixed assets
-
111,694

Profit on disposal of tangible assets
(240,847)
(234,946)

Interest paid
801,820
707,322

Interest received
(2,277)
(283)

Taxation charge
316,377
337,967

Increase in stock
(32,765)
(9,587)

(Increase)/decrease in debtors
(314,843)
361,507

(Decrease)/increase in creditors
(453,825)
644,731

Corporation tax paid
-
(3,096)

Net cash generated from operating activities

2,367,432
3,685,486


Cash flows from investing activities

Purchase of tangible fixed assets
(2,679,038)
(2,964,922)

Sale of tangible fixed assets
1,525,901
2,630,721

Interest received
2,277
283

HP interest paid
(384,800)
(447,489)

Net cash from investing activities

(1,535,660)
(781,407)

Cash flows from financing activities

Repayment of loans
(296,156)
(232,003)

Other new loans
378,138
-

Repayment of finance leases
(784,612)
(2,273,234)

Dividends paid
(202,327)
(268,800)

Interest paid
(417,020)
(259,833)

Net cash used in financing activities
(1,321,977)
(3,033,870)

Net decrease in cash and cash equivalents
(490,205)
(129,791)

Cash and cash equivalents at beginning of year
(1,579,684)
(1,449,892)

Cash and cash equivalents at the end of year
(2,069,889)
(1,579,683)


Cash and cash equivalents at the end of year comprise:
Page 16

 
Dunmow Skips Ltd
 

Consolidated statement of cash flows (continued)
For the year ended 31 January 2024


2024
2023

£
£


Cash at bank and in hand
95,104
172,029

Factored debts
(2,164,993)
(1,751,712)

(2,069,889)
(1,579,683)
























The notes on pages 19 to 42 form part of these financial statements. 
Page 17

 
Dunmow Skips Ltd
 

Consolidated analysis of net debt
For the year ended 31 January 2024






At 1 February 2023
Cash flows
New finance leases
Other non-cash changes
At 31 January 2024
£

£

£

£

£

Cash at bank and in hand

172,029

(76,925)

-

-

95,104

Factored debts

(1,751,712)

(413,281)

-

-

(2,164,993)

Debt due after 1 year

(330,800)

(49,167)

-

148,117

(231,850)

Debt due within 1 year

(280,203)

(52,333)

-

(148,117)

(480,653)

Finance leases

(6,361,700)

3,480,976

(2,696,363)

-

(5,577,087)


(8,552,386)
2,889,270
(2,696,363)
-
(8,359,479)





















The notes on pages 19 to 42 form part of these financial statements. 
Page 18

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

1.


General information

Dunmow Skips Ltd 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 Mid Essex Recycling Centre, Eagle Way, Chelmsford, CM3 3PY.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgment in applying the group's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
 
Page 19

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the group 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 group has transferred the significant risks and rewards of ownership to the buyer;
the group 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 group 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 group 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.

 
2.4

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 20

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.5

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.

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. Skips are not depreciated.

Depreciation is provided at the following rates:

Improvements to leasehold property
-
10% straight line
Plant and machinery
-
20% reducing balance
Motor vehicles
-
15% reducing balance
Furniture and equipment
-
25% reducing balance
Recycling facility
-
10% reducing balance

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.


 
2.6

Revaluation of tangible fixed assets

Skips are currently held 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 included in the accounts at an open market valuation provided by the board, having regard to professional advice taken personally.

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.

 
2.7

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.

Page 21

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

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.

 
2.10

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.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the group's cash management.

 
2.11

Financial instruments

The group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

 
Page 22

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

 
2.12

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.

 
2.13

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.

 
2.14

Operating leases: the group as lessee

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

Page 23

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.15

Pensions

Defined contribution pension plan

The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the group in independently administered funds.

 
2.16

Borrowing costs

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

 
2.17

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.

Page 24

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.18

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 and the group operate and generate 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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.

 
2.19

Stock

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each balance sheet date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.20

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the group's financial statements requires the directors to make judgments when applying accounting estimates which give rise to estimation uncertainty. The directors make these judgments having taken into account all available information and using their considerable knowledge of the group's operations. Key estimates include the valuation of skips, goodwill and the provision of bad debts. 

Page 25

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Waste disposal and skip hire
22,817,659
22,515,678


All turnover arose within the United Kingdom.


5.


Other operating income

2024
2023
£
£

Government grants receivable
224,184
158,074



6.


Auditors' remuneration

During the year, the group obtained the following services from the company's auditors:


2024
2023
£
£

Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements
18,000
20,000

Fees payable to the company's auditors for the audit of the subsidiary companies' financial statements
5,500
10,000

Page 26

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

7.


Employees

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Wages and salaries
6,993,253
6,353,251
6,993,253
6,353,251

Social security costs
628,235
581,026
628,235
581,026

Cost of defined contribution scheme
109,978
95,714
109,978
95,714

7,731,466
7,029,991
7,731,466
7,029,991


The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2024
        2023
        2024
        2023
            No.
            No.
            No.
            No.









Production
124
123
124
123



Director
2
2
2
2

126
125
126
125


8.


Staff costs

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Direct wages and salaries
4,587,785
4,578,624
4,587,785
4,578,624

National insurance
615,445
574,138
615,445
574,138

Pension costs
109,978
95,714
109,978
95,714

Staff salaries
2,223,938
1,714,220
2,223,938
1,714,220

Directors' salaries
194,008
66,058
194,008
66,058

Directors' national insurance
12,790
6,888
12,790
6,888

7,743,944
7,035,642
7,743,944
7,035,642



9.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
194,008
66,058


Page 27

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

10.


Interest receivable

2024
2023
£
£


Other interest receivable
2,277
283


11.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
61,702
17,800

Other loan interest payable
15,638
(6,459)

Finance leases and hire purchase contracts
384,800
447,489

Other interest payable
339,680
347,057

801,820
805,887


12.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
-
-


Deferred tax


Origination and reversal of timing differences
316,377
337,967


Taxation on profit
316,377
337,967
Page 28

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024
 
12.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is higher than the standard rate of corporation tax in the UK of25% (2023 -19%). The differences are explained below:

2024
2023
£
£


Profit before tax
949,306
478,901


Profit multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
237,327
90,991

Effects of:


Non-tax deductible amortisation of goodwill
21,497
16,336

Expenses not deductible for tax purposes
52,770
5,833

Capital allowances for year less than/(in excess of) depreciation
7,574
(291,888)

Utilisation of tax losses
(218,084)
-

Movement in pension fund creditor leading to an increase/(decrease) in tax
716
(4,556)

Origination and reversal of timing differences
316,377
337,967

Unwound discounting costs leading to an increase in the tax charge
25,213
18,728

Capital gains
2,500
5,730

Unrelieved tax losses carried forward
-
158,826

Group relief
(129,513)
-

Total tax charge for the year
316,377
337,967


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


13.


Parent company profit for the year

The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Profit and loss account in these financial statements. The profit after tax of the parent company for the year was £491,146 (2023 - £222,435).

Page 29

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

14.


Intangible assets

Group





Development expenditure
Goodwill
Total

£
£
£



Cost


At 1 February 2023
497,830
2,265,552
2,763,382



At 31 January 2024

497,830
2,265,552
2,763,382



Amortisation


At 1 February 2023
497,830
287,804
785,634


Charge for the year
-
85,990
85,990



At 31 January 2024

497,830
373,794
871,624



Net book value



At 31 January 2024
-
1,891,758
1,891,758



At 31 January 2023
-
1,977,748
1,977,748



Page 30

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024
 
           14.Intangible assets (continued)

Company




Development expenditure
Goodwill
Total

£
£
£



Cost


At 1 February 2023
497,830
115,824
613,654



At 31 January 2024

497,830
115,824
613,654



Amortisation


At 1 February 2023
497,830
115,824
613,654



At 31 January 2024

497,830
115,824
613,654



Net book value



At 31 January 2024
-
-
-



At 31 January 2023
-
-
-

Page 31

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

15.


Tangible fixed assets

Group






Improvements to leasehold property
Plant, machinery and recycling facility
Motor vehicles
Office equipment
Skips
Total

£
£
£
£
£
£



Cost or valuation


At 1 February 2023
2,246,865
8,939,721
7,160,520
191,054
2,173,562
20,711,722


Additions
111,611
1,337,671
1,118,303
59,407
52,046
2,679,038


Disposals
-
(495,500)
(1,758,063)
-
(5,232)
(2,258,795)



At 31 January 2024

2,358,476
9,781,892
6,520,760
250,461
2,220,376
21,131,965



Depreciation


At 1 February 2023
1,071,840
3,558,717
2,003,497
66,376
-
6,700,430


Charge for the year: owned
178,054
194,121
790,839
33,044
-
1,196,058


Charge for the year: financed
-
356,793
21,803
276
-
378,872


Disposals
-
(194,917)
(778,824)
-
-
(973,741)



At 31 January 2024

1,249,894
3,914,714
2,037,315
99,696
-
7,301,619



Net book value



At 31 January 2024
1,108,582
5,867,178
4,483,445
150,765
2,220,376
13,830,346



At 31 January 2023
1,175,025
5,381,004
5,157,023
124,678
2,173,562
14,011,292



Page 32

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

           15.Tangible fixed assets (continued)

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


2024
2023
£
£



Leasehold improvements
-
115,956

Plant and machinery
2,180,843
2,069,205

Motor vehicles
3,447,037
3,208,142

Heavy plant and equipment
300,000
300,000

Skips
-
406,506

5,927,880
6,099,809

Page 33

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

           15.Tangible fixed assets (continued)


Company






Improvements to leasehold property
Plant, machinery and recycling facility
Motor vehicles
Fixtures and fittings
Furniture and equipment
Skips

£
£
£
£
£
£

Cost or valuation


At 1 February 2023
1,308,310
3,122,714
6,784,978
187,304
256,513
2,173,562


Additions
111,611
1,337,671
1,118,303
59,407
-
52,046


Disposals
-
(443,000)
(1,485,067)
-
-
(5,232)



At 31 January 2024

1,419,921
4,017,385
6,418,214
246,711
256,513
2,220,376



Depreciation


At 1 February 2023
459,789
959,515
1,783,084
62,626
213,305
-


Charge for the year: owned
131,126
118,104
790,839
33,044
8,642
-


Charge for the year: financed
-
339,672
21,803
276
-
-


Disposals
-
(164,292)
(659,682)
-
-
-



At 31 January 2024

590,915
1,252,999
1,936,044
95,946
221,947
-



Net book value



At 31 January 2024
829,006
2,764,386
4,482,170
150,765
34,566
2,220,376



At 31 January 2023
848,521
2,163,199
5,001,894
124,678
43,208
2,173,562
Page 34

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

           15.Tangible fixed assets (continued)


Total

£

Cost or valuation


At 1 February 2023
13,833,381


Additions
2,679,038


Disposals
(1,933,299)



At 31 January 2024

14,579,120



Depreciation


At 1 February 2023
3,478,319


Charge for the year: owned
1,081,755


Charge for the year: financed
361,751


Disposals
(823,974)



At 31 January 2024

4,097,851



Net book value



At 31 January 2024
10,481,269



At 31 January 2023
10,355,062






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


2024
2023
£
£



Leasehold improvements
-
115,956

Plant and machinery
2,044,795
1,896,357

Motor vehicles
3,447,037
3,208,142

Skips
-
406,506

5,491,832
5,626,961

Page 35

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

16.


Fixed asset investments

Group





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost 


At 1 February 2023
400
8,886
9,286




Company





Investments in subsidiary companies

£



Cost


At 1 February 2023
6,754,882




Page 36

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

Subsidiary undertakings


The following were subsidiary undertakings of the company:

Name

Registered office

Class of shares

Holding

Kartaway Limited (Dormant)
Construction House, Runwell Road, Wickford, Essex, SS11 7HQ
Ordinary
100%
The Grab Hire (UK) Company Limited (Dormant)
Construction House, Runwell Road, Wickford, Essex, SS11 7HQ
Ordinary
100%
We Take Waste Limited (Dormant)
Construction House, Runwell Road, Wickford, Essex, SS11 7HQ
Ordinary
100%
Tanner Skip Hire Limited (Dormant)
Construction House, Runwell Road, Wickford, Essex, SS11 7HQ
Ordinary
100%
EWD Group Ltd
Construction House, Runwell Road, Wickford, Essex, SS11 7HQ
Ordinary
100%
Eastern Waste Disposal Limited
Construction House, Runwell Road, Wickford, Essex, SS11 7HQ
Ordinary A
100%

The aggregate of the share capital and reserves as at 31 January 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit
£
£

Kartaway Limited (Dormant)
100
-

The Grab Hire (UK) Company Limited (Dormant)
100
-

We Take Waste Limited (Dormant)
100
-

Tanner Skip Hire Limited (Dormant)
100
-

EWD Group Ltd
2,791,629
-

Eastern Waste Disposal Limited
2,733,720
255,884


17.


Stock

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Goods for resale
85,508
52,742
85,508
52,742


The difference between purchase price or production cost of stock and their replacement cost is not material.


18.


Debtors

Page 37

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024
Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due after more than one year

Amounts due from related parties
-
2,352,813
-
2,352,813


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Due within one year

Trade debtors
2,656,749
2,276,506
2,655,737
2,266,586

Other debtors
2,853,525
877,439
2,848,151
870,547

Prepayments and accrued income
483,456
172,128
444,732
159,128

5,993,730
3,326,073
5,948,620
3,296,261


Included within other debtors due within one year is a loan to SA Malins amounting to Nil (2023 - £14,549) and a loan to E Barnes amounting to £116,407 (2023 - £85,377). Interest was charged on this loan at the official rate of interest of 2.25%.


19.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
95,104
172,029
90,464
152,098

Less: factored debts
(2,164,993)
(1,751,712)
(2,164,993)
(1,751,712)

(2,069,889)
(1,579,683)
(2,074,529)
(1,599,614)


Page 38

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

20.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Factored debts
2,164,993
1,751,712
2,164,993
1,751,712

Bank loans
253,125
214,146
253,125
139,104

Other loans
179,326
-
179,326
-

Trade creditors
2,371,291
2,659,935
2,229,924
2,529,182

Amounts owed to dormant group undertakings
300
300
300
300

Other taxation and social security
1,072,369
1,156,921
872,434
1,160,840

Obligations under finance lease and hire purchase contracts
1,945,023
2,172,252
1,859,672
1,975,722

Other creditors
245,498
598,662
2,468,497
2,424,237

Accruals and deferred income
449,395
290,096
439,701
274,096

8,681,320
8,844,024
10,467,972
10,255,193



21.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
182,684
330,800
182,684
330,800

Other loans
49,166
-
49,166
-

Net obligations under finance leases and hire purchase contracts
3,632,064
4,189,448
3,554,683
4,022,245

Other creditors
3,598,773
3,522,965
3,598,773
3,522,965

7,462,687
8,043,213
7,385,306
7,876,010




Page 39

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

22.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Amounts falling due within one year

Bank loans
253,125
214,146
253,125
139,104

Other loans
179,326
-
179,326
-

Amounts falling due 1-2 years

Bank loans
182,684
140,000
182,684
140,000

Other loans
49,166
-
49,166
-

Amounts falling due 2-5 years

Bank loans
-
190,800
-
190,800


664,301
544,946
664,301
469,904


A Close Bros bank loan was issued in December 2020 and is repayable over 60 monthly installments starting from December 2020. Interest is charged at a fixed rate of 2%. The loan is not secured.
Two further Close Bros loans were issued in November 2023 and January 2024, in relation to insurance finance, and are repayable over 10 and 9 monthly installments respectively. Interest is charged on these loans at 10.57% and 12.68% respectively. These loans are not secured. 
The CBIL bank loan was issued in May 2020 and is repayable over 72 monthly installments starting from May 2020. Interest is charged at a floating rate basis within a minimum 4.5% margin. The loan is secured by way of fixed and floating charge over all company assets.


23.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Within one year
1,945,023
2,172,252
1,859,672
1,975,722

Between 1-5 years
3,632,064
4,189,448
3,554,683
4,022,245

5,577,087
6,361,700
5,414,355
5,997,967

Page 40

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

24.


Deferred taxation


Group



2024
2023


£

£






At beginning of year
1,350,209
978,955


Charged for the year
316,377
371,256



At end of year
1,666,586
1,350,211

Company


2024
2023


£

£






At beginning of year
1,140,861
794,825


Charged for the year
382,169
346,038



At end of year
1,523,030
1,140,863

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Accelerated capital allowances
2,266,490
2,302,523
2,122,934
2,093,175

Tax losses carried forward
(738,607)
(1,091,015)
(738,607)
(1,091,015)

Revaluation of tangible assets
138,703
138,703
138,703
138,703

1,666,586
1,350,211
1,523,030
1,140,863


25.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5,600 (2023 - 5,600) Ordinary shares of £0.01 each
56
56
5,600 (2023 -5,600) Preference shares of £0.01 each
56
56

112

112


Page 41

 
Dunmow Skips Ltd
 
 
Notes to the financial statements
For the year ended 31 January 2024

26.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge represents contributions payable by the company to the fund and amounted to £109,978 (2023 - £95,714). Contributions totaling £19,287 (2023 - £20,464) were payable to the fund at the balance sheet date and are included in creditors.


27.


Commitments under operating leases

At 31 January 2024 the group and the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Not later than 1 year
534,596
556,419
534,596
556,419

Later than 1 year and not later than 5 years
541,926
541,926
541,926
541,926

1,076,522
1,098,345
1,076,522
1,098,345




28.


Related party transactions

Terms and conditions of transactions with related parties
Sales and purchases between the company and related parties have taken place during the year. Outstanding balances with entities are unsecured, interest free and cash settlement is expected in line with agreements in place between the companies. The company has not provided or benefited from any guarantees for any related party receivables or payables. During the year, the company has not made any provisions for doubtful debts relating to amounts owed by related parties
 (2023 - Nil).
Transactions and outstanding balances with entities over which the Group/ key personnel has significant influence:
During the year, the company recharged £645,509 
(2023 - £532,187) to related parties in relation to vehicle costs, rent and rates, wages and utilities.
At the balance sheet date, debtors amounting to £2,731,230 
(2023 - £2,966,866) were outstanding from related parties. No interest is charged on these loans.
At the balance sheet date, creditors amounting to £137,968 
(2023 - £137,968) were outstanding to related parties. No interest is charged on these loans.
At the balance sheet date, amounts owed to shareholders in respect of shareholders loans totalled £182,850 
(2023 - £183,438). Amounts due from shareholders in respect of shareholders loans totalled £116,407 (2023 - £147,574). Interest has been charged at the official rate of interest on this loan. 
 

Page 42