Busy Bins Limited 09404746 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is is that of refuse collection. Digita Accounts Production Advanced 6.30.9574.0 true true 09404746 2023-04-01 2024-03-31 09404746 2024-03-31 09404746 core:CurrentFinancialInstruments 2024-03-31 09404746 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09404746 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09404746 core:FurnitureFittings 2024-03-31 09404746 core:MotorVehicles 2024-03-31 09404746 core:OtherPropertyPlantEquipment 2024-03-31 09404746 bus:SmallEntities 2023-04-01 2024-03-31 09404746 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09404746 bus:FilletedAccounts 2023-04-01 2024-03-31 09404746 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09404746 bus:RegisteredOffice 2023-04-01 2024-03-31 09404746 bus:Director1 2023-04-01 2024-03-31 09404746 bus:Director2 2023-04-01 2024-03-31 09404746 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09404746 core:FurnitureFittings 2023-04-01 2024-03-31 09404746 core:MotorVehicles 2023-04-01 2024-03-31 09404746 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09404746 core:PlantMachinery 2023-04-01 2024-03-31 09404746 countries:England 2023-04-01 2024-03-31 09404746 2023-03-31 09404746 core:FurnitureFittings 2023-03-31 09404746 core:MotorVehicles 2023-03-31 09404746 core:OtherPropertyPlantEquipment 2023-03-31 09404746 2022-04-01 2023-03-31 09404746 2023-03-31 09404746 core:CurrentFinancialInstruments 2023-03-31 09404746 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09404746 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09404746 core:FurnitureFittings 2023-03-31 09404746 core:MotorVehicles 2023-03-31 09404746 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09404746

Busy Bins Limited
Annual Report and
Unaudited Financial Statements

31 March 2024

 

Busy Bins Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Busy Bins Limited

Balance Sheet
31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

541,184

259,132

Current assets

 

Debtors

5

13,541

3,681

Cash at bank and in hand

 

191,487

86,554

 

205,028

90,235

Creditors: Amounts falling due within one year

6

(296,016)

(244,945)

Net current liabilities

 

(90,988)

(154,710)

Total assets less current liabilities

 

450,196

104,422

Creditors: Amounts falling due after more than one year

6

(448,961)

(170,844)

Net assets/(liabilities)

 

1,235

(66,422)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,135

(66,522)

Shareholders' funds/(deficit)

 

1,235

(66,422)

 

Busy Bins Limited

Balance Sheet
31 March 2024

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

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 June 2024 and signed on its behalf by:
 

.........................................
Mr J M Morris
Director

.........................................
Mr Michael Morris
Director

Company Registration Number: 09404746

 

Busy Bins Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 4
Cowburn Street
Heywood
Lancashire
OL10 2AJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared consolidated accounts on the basis the group is small..

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Busy Bins Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

15% Reducing Balance

Plant & Machinery

15% Reducing Balance

Furniture & Fittings

20% Straight-Line

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.

Creditors

Short term trade 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.

 

Busy Bins Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Busy Bins Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 10 (2023 - 10).

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost or valuation

At 1 April 2023

6,226

301,391

46,965

354,582

Additions

-

307,921

43,401

351,322

At 31 March 2024

6,226

609,312

90,366

705,904

Depreciation

At 1 April 2023

4,261

78,212

12,977

95,450

Charge for the year

1,212

59,501

8,557

69,270

At 31 March 2024

5,473

137,713

21,534

164,720

Carrying amount

At 31 March 2024

753

471,599

68,832

541,184

At 31 March 2023

1,965

223,179

33,988

259,132

 

Busy Bins Limited

Notes to the Unaudited Financial Statements
Year Ended 31 March 2024

5

Debtors

Current

2024
£

2023
£

Debtors

12,430

2,744

Prepayments

1,111

937

 

13,541

3,681

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

125,069

100,588

Creditors

 

105,190

74,310

Taxation and social security

 

12,085

24,527

Accruals and deferred income

 

35,102

32,991

Other creditors

 

18,570

12,529

 

296,016

244,945

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

448,961

170,844

7

Related party transactions

Directors' remuneration

The directors are remunerated by the company. The directors consider that their remuneration meets the criteria of being under normal market conditions.
The directors who are also shareholders receive dividends as part of this remuneration package.