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REGISTERED NUMBER: 02780778 (England and Wales)









Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2024

for

S & B Waste Management & Recycling Ltd

S & B Waste Management & Recycling Ltd (Registered number: 02780778)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


S & B Waste Management & Recycling Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Miss S R Broadley
R F Gordon
Miss S J Broadley



SECRETARY: Mrs K J Broadley



REGISTERED OFFICE: 39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST



BUSINESS ADDRESS: 26 Purbrook Road
Monmore Green
Wolverhampton
West Midlands
WV1 2EJ



REGISTERED NUMBER: 02780778 (England and Wales)



SENIOR STATUTORY AUDITOR: Stephen Gray BSc, FCA



AUDITORS: Crowther Jordan Limited
Chartered Accountants
Statutory Auditors
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Strategic Report
for the Year Ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS
The results for the financial year and the financial position of the company are shown in the annexed financial statements.

Compliance is a major responsibility for recycling businesses and the company has continued to make improvements to procedures for health, safety and environmental compliance.

The directors are pleased with the performance of the company in 2024. Whilst turnover has increased by only 1.9% compared to 2023, the gross profit margin has increased significantly due an ongoing review of new and existing contracts and related profitability. Continuing improvements in operating efficiencies, particularly in relation to recycling levels, have contributed to this improvement.

The Company's key financial and other performance indicators during the year were as follows:

2024 2023
Gross profit £5,028,881 £3,876,362
Gross profit % 37.30 29.30
Profit before taxation £4,171,421 £2,737,073
Debtor days 77 84

PRINCIPAL RISKS AND UNCERTAINTIES
The key business risks and uncertainties affecting the group relate to competition from local waste management companies and the continuing increases in landfill taxes. The development of refuse derived fuel products is considered essential to reducing the environmental impact of the business, minimising landfill costs and driving profit growth.

Whilst remaining fully committed to Waste to Energy, entry to this segment of the waste sector is challenging as the costs of developing and commissioning the technology, already high, continue to increase. Identifying a suitable partner is also proving problematic as financial and technological risks mount. More recently, public opposition and adverse media coverage of these plants has further increased reducing the appetite for new installations.

DEVELOPMENT AND FUTURE OUTLOOK
The directors expect the market for waste management to stagnate or attain very low levels growth as local competition intensifies and the influence of national and international competitors increases. The generally poor economic outlook and performance of the UK economy and the related economic and political uncertainties are expected to make for challenging trading conditions.

The company remains committed to increasing productivity, minimising landfill and increasing levels of recycling through the adoption of new technologies and efficient operating practices. As part of this strategy, the company is evaluating the upgrade of selected existing waste transfer stations to full waste management centres to improve operating efficiencies and expand the company's capacity and market share.


S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Strategic Report
for the Year Ended 31 March 2024

CONCLUSION
The directors expect little or no growth in turnover over the next twelve months but greater profitability to be achieved due to improvements in operating practices. The directors are satisfied with the expected performance of the company in what is thought will be a challenging year.

ON BEHALF OF THE BOARD:




Miss S R Broadley - Director


26 November 2024

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of waste management.

DIVIDENDS
The total distribution of dividends for the year ended 31 March 2024 will be £ 1,000,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Miss S R Broadley
R F Gordon
Miss S J Broadley

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements 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 company 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





Miss S R Broadley - Director


26 November 2024

Report of the Independent Auditors to the Members of
S & B Waste Management & Recycling Ltd

Opinion
We have audited the financial statements of S & B Waste Management & Recycling Ltd (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The 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 company's affairs as at 31 March 2024 and of its 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 company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
S & B Waste Management & Recycling Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 Statement of Directors' Responsibilities set out on page four, 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 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 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 company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
S & B Waste Management & Recycling Ltd


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 a Report of the Auditors 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 financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulation that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussion with the directors, and other management, and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws, and regulations through our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.

The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), pensions legislation, and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Whilst the the procedures undertaken to detect irregularities vary from audit to audit, based on the specific audit risks identified and assessed as material, the procedures may include the following:

* Enquiry of management and key staff

* Reviewing minutes of meetings

* Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

* Performing audit work over the risk of management override including testing of journals and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

In addition, the Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance through the imposition of fines. We identified the following areas as those most likely to have such an effect: health and safety, General Data Protection Regulation (GDP), fraud, bribery and corruption and employment law. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. The identified actual or suspected non-compliance was not sufficiently significant to our audit to result in our response being identified as a key audit matter.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance 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 Report of the Auditors.

Report of the Independent Auditors to the Members of
S & B Waste Management & Recycling Ltd


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 2006. Our 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 a Report of the Auditors 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.




Stephen Gray BSc, FCA (Senior Statutory Auditor)
for and on behalf of Crowther Jordan Limited
Chartered Accountants
Statutory Auditors
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

26 November 2024

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Income Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 13,483,719 13,230,844

Cost of sales 8,454,838 9,354,482
GROSS PROFIT 5,028,881 3,876,362

Administrative expenses 866,796 1,146,228
4,162,085 2,730,134

Other operating income 13,129 8,458
OPERATING PROFIT 4 4,175,214 2,738,592

Interest receivable and similar income 1,448 3,341
4,176,662 2,741,933

Interest payable and similar expenses 5 5,242 4,860
PROFIT BEFORE TAXATION 4,171,420 2,737,073

Tax on profit 6 1,098,605 487,248
PROFIT FOR THE FINANCIAL YEAR 3,072,815 2,249,825

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Other Comprehensive Income
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

PROFIT FOR THE YEAR 3,072,815 2,249,825


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

3,072,815

2,249,825

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 17,752 26,628
Tangible assets 9 706,401 785,787
724,153 812,415

CURRENT ASSETS
Stocks 10 55,750 55,000
Debtors 11 7,540,507 5,321,705
Cash at bank and in hand 508,815 256,186
8,105,072 5,632,891
CREDITORS
Amounts falling due within one year 12 1,452,498 1,153,033
NET CURRENT ASSETS 6,652,574 4,479,858
TOTAL ASSETS LESS CURRENT LIABILITIES 7,376,727 5,292,273

CREDITORS
Amounts falling due after more than one
year

13

-

(15,661

)

PROVISIONS FOR LIABILITIES 16 (176,600 ) (149,300 )
NET ASSETS 7,200,127 5,127,312

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 7,200,027 5,127,212
SHAREHOLDERS' FUNDS 7,200,127 5,127,312

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





Miss S R Broadley - Director


S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 100 3,877,387 3,877,487

Changes in equity
Dividends - (1,000,000 ) (1,000,000 )
Total comprehensive income - 2,249,825 2,249,825
Balance at 31 March 2023 100 5,127,212 5,127,312

Changes in equity
Dividends - (1,000,000 ) (1,000,000 )
Total comprehensive income - 3,072,815 3,072,815
Balance at 31 March 2024 100 7,200,027 7,200,127

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Cash Flow Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,135,519 3,101,029
Interest element of hire purchase payments
paid

(5,242

)

(4,860

)
Finance costs paid (1 ) -
Tax paid (741,448 ) (383,341 )
Net cash from operating activities 3,388,828 2,712,828

Cash flows from investing activities
Purchase of tangible fixed assets (98,079 ) (698,010 )
Interest received 1,448 3,341
Net cash from investing activities (96,631 ) (694,669 )

Cash flows from financing activities
Capital repayments in year (117,100 ) 74,930
Group balances (1,922,468 ) (1,324,875 )
Equity dividends paid (1,000,000 ) (1,000,000 )
Net cash from financing activities (3,039,568 ) (2,249,945 )

Increase/(decrease) in cash and cash equivalents 252,629 (231,786 )
Cash and cash equivalents at beginning of
year

2

256,186

487,972

Cash and cash equivalents at end of year 2 508,815 256,186

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.24 31.3.23
£    £   
Profit before taxation 4,171,420 2,737,073
Depreciation charges 186,342 202,187
Finance costs 5,242 4,860
Finance income (1,448 ) (3,341 )
4,361,556 2,940,779
Increase in stocks (750 ) (500 )
(Increase)/decrease in trade and other debtors (296,334 ) 95,329
Increase in trade and other creditors 71,047 65,421
Cash generated from operations 4,135,519 3,101,029

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 508,815 256,186
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 256,186 487,972


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 256,186 252,629 508,815
256,186 252,629 508,815
Debt
Finance leases (132,761 ) 117,100 (15,661 )
(132,761 ) 117,100 (15,661 )
Total 123,425 369,729 493,154

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

S & B Waste Management & Recycling Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable in respect of goods and services supplied, excluding value added tax. Turnover from the provision of skips is recognised when the skips are physically delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Skips - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified and accounted for as financial assets, financial liabilities or equity instruments, according to the substance of the contractual arrangement.

Financial instruments which are assets are stated at cost less provision for impairment. Financial liabilities are stated at principal capital amounts outstanding at the period end.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
31.3.24 31.3.23
£    £   
Wages and salaries 1,809,890 1,664,711
Social security costs 174,501 163,735
Other pension costs 28,432 106,314
2,012,823 1,934,760

The average number of employees during the year was as follows:
31.3.24 31.3.23

Management 4 4
Administration 10 10
Direct Labour 50 51
64 65

31.3.24 31.3.23
£    £   
Directors' remuneration 100,165 96,769
Directors' pension contributions to money purchase schemes - 80,000

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.24 31.3.23
£    £   
Hire of plant and vehicles 627,390 716,749
Depreciation - owned assets 177,465 111,891
Depreciation - assets on hire purchase contracts - 81,420
Goodwill amortisation 8,876 8,876
Auditors' remuneration 7,000 7,000
Auditors' remuneration for non audit work 6,000 4,200

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.24 31.3.23
£    £   
Hire purchase 5,242 4,860

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.24 31.3.23
£    £   
Current tax:
UK corporation tax 1,071,305 391,355

Deferred tax 27,300 95,893
Tax on profit 1,098,605 487,248

UK corporation tax was charged at 19%) in 2023.

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.24 31.3.23
£    £   
Profit before tax 4,171,420 2,737,073
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

1,042,855

520,044

Effects of:
Expenses not deductible for tax purposes 6,384 4,392
Capital allowances in excess of depreciation - (37,188 )
Depreciation in excess of capital allowances 49,366 -
Total tax charge 1,098,605 487,248

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DIVIDENDS
31.3.24 31.3.23
£    £   
Interim 1,000,000 1,000,000

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 88,760
AMORTISATION
At 1 April 2023 62,132
Amortisation for year 8,876
At 31 March 2024 71,008
NET BOOK VALUE
At 31 March 2024 17,752
At 31 March 2023 26,628

9. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery Skips vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 538,850 122,250 346,090 36,291 1,043,481
Additions 76,896 - 20,000 1,183 98,079
At 31 March 2024 615,746 122,250 366,090 37,474 1,141,560
DEPRECIATION
At 1 April 2023 106,076 41,553 101,831 8,234 257,694
Charge for year 76,451 30,564 66,064 4,386 177,465
At 31 March 2024 182,527 72,117 167,895 12,620 435,159
NET BOOK VALUE
At 31 March 2024 433,219 50,133 198,195 24,854 706,401
At 31 March 2023 432,774 80,697 244,259 28,057 785,787

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 346,090
Transfer to ownership (259,695 )
At 31 March 2024 86,395
DEPRECIATION
At 1 April 2023 101,831
Transfer to ownership (64,033 )
At 31 March 2024 37,798
NET BOOK VALUE
At 31 March 2024 48,597
At 31 March 2023 244,259

10. STOCKS
31.3.24 31.3.23
£    £   
Finished goods 55,750 55,000

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,821,845 3,051,599
Amounts owed by group undertakings 3,465,529 1,543,061
Other Debtors 562,249 16,532
Amounts owed by related party
undertakings

624,134

654,134
Prepayments 66,750 56,379
7,540,507 5,321,705

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 14) 15,661 117,100
Trade creditors 648,068 496,900
Tax 437,656 107,799
Social security and other taxes 45,606 42,101
VAT 251,809 341,671
Other creditors 8,088 5,381
Net Wages 28,321 24,457
Accrued expenses 17,289 17,624
1,452,498 1,153,033

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts (see note 14) - 15,661

14. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.24 31.3.23
£    £   
Gross obligations repayable:
Within one year 16,412 122,342
Between one and five years - 16,412
16,412 138,754

Finance charges repayable:
Within one year 751 5,242
Between one and five years - 751
751 5,993

Net obligations repayable:
Within one year 15,661 117,100
Between one and five years - 15,661
15,661 132,761

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

15. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 15,661 132,761

Hire purchase liabilities are secured on the specific asset to which the liability relates.

16. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 176,600 149,300

Deferred
tax
£   
Balance at 1 April 2023 149,300
Provided during year 27,300
Balance at 31 March 2024 176,600

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

18. RESERVES
Retained
earnings
£   

At 1 April 2023 5,127,212
Profit for the year 3,072,815
Dividends (1,000,000 )
At 31 March 2024 7,200,027

19. ULTIMATE PARENT COMPANY

S&B Industrial Investments Limited is regarded by the directors as being the company's ultimate parent company.

S & B Waste Management & Recycling Ltd (Registered number: 02780778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

20. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Entities over which the entity has control, joint control or significant influence
31.3.24 31.3.23
£    £   
Net loans to related parties during the year (30,000 ) 30,000
Amount due from related parties 624,134 654,134

21. ULTIMATE PARENT COMPANY

S & B Industrial Investments Limited, a company registered in England & Wales, is regarded by the director as being the company's ultimate parent company.
The registered office of S & B Industrial Investments Limited is 39 High Street, Wednesfield, Wolverhampton. West Midlands. WV11 1ST.