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Registration number: 08112968

Tom's Rubbish Clearance (Holdings) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Tom's Rubbish Clearance (Holdings) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Tom's Rubbish Clearance (Holdings) Limited

Company Information

Directors

Mr T Francis

Mrs G Francis

Company secretary

Mr T Francis

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Tom's Rubbish Clearance (Holdings) Limited

(Registration number: 08112968)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

561,520

561,520

Investments

4

1

1

 

561,521

561,521

Current assets

 

Debtors

5

-

36

Cash at bank and in hand

 

4,214

3,305

 

4,214

3,341

Creditors: Amounts falling due within one year

6

(107,258)

(160,691)

Net current liabilities

 

(103,044)

(157,350)

Total assets less current liabilities

 

458,477

404,171

Creditors: Amounts falling due after more than one year

6

(211,382)

(218,856)

Net assets

 

247,095

185,315

Capital and reserves

 

Called up share capital

7

10

10

Retained earnings

247,085

185,305

Shareholders' funds

 

247,095

185,315

For the financial year ending 30 November 2023 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.

 

Tom's Rubbish Clearance (Holdings) Limited

(Registration number: 08112968)
Balance Sheet as at 30 November 2023

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 November 2024 and signed on its behalf by:
 

.........................................
Mr T Francis
Company secretary and director

 

Tom's Rubbish Clearance (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

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.

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.

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

Freehold Property

Not provided

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Tom's Rubbish Clearance (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

 

Tom's Rubbish Clearance (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 December 2022

581,731

581,731

At 30 November 2023

581,731

581,731

Depreciation

At 1 December 2022

20,211

20,211

At 30 November 2023

20,211

20,211

Carrying amount

At 30 November 2023

561,520

561,520

At 30 November 2022

561,520

561,520

Included within the net book value of land and buildings above is £561,519 (2022 - £561,519) in respect of freehold land and buildings.
 

 

Tom's Rubbish Clearance (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Investments

2023
£

2022
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 December 2022

1

Provision

Carrying amount

At 30 November 2023

1

At 30 November 2022

1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Tom's Rubbish Clearance Limited

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Ordinary

100%

100%

Subsidiary undertakings

Tom's Rubbish Clearance Limited

The principal activity of Tom's Rubbish Clearance Limited is rubbish clearance and reclaimed material sales.

 

Tom's Rubbish Clearance (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Debtors

Current

2023
£

2022
£

Other debtors

-

36

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

-

871

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

106,182

112,846

Accruals and deferred income

 

1,076

7,853

Other creditors

 

-

39,121

 

107,258

160,691

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

211,382

218,856

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

         
 

Tom's Rubbish Clearance (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

211,382

218,856

9

Related party transactions

Loans from related parties

2023

Subsidiary
£

Key management
£

Total
£

At start of period

112,846

101,861

214,707

Advanced

61,486

63,810

125,296

Repaid

(68,150)

(100,783)

(168,933)

At end of period

106,182

64,888

171,070

2022

Subsidiary
£

Key management
£

Total
£

At start of period

94,998

154,875

249,873

Advanced

118,718

65,300

184,018

Repaid

(100,870)

(118,314)

(219,184)

At end of period

112,846

101,861

214,707