Registration number:
Blockfree Waste Services Limited
for the Year Ended 31 May 2024
Blockfree Waste Services Limited
Contents
Company Information |
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Directors' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Blockfree Waste Services Limited
Company Information
Directors |
S R Green S J Foxlow |
Company secretary |
S R Green |
Registered office |
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Blockfree Waste Services Limited
Directors' Report for the Year Ended 31 May 2024
The Directors present their report and the financial statements for the year ended 31 May 2024.
Directors of the Company
The Directors who held office during the year were as follows:
Small companies provision statement
This report has 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.
Approved and authorised by the
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Blockfree Waste Services Limited
(Registration number: 05646545)
Balance Sheet as at 31 May 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Investments |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
50 |
50 |
|
Capital redemption reserve |
50 |
50 |
|
Other reserves |
227,850 |
227,850 |
|
Retained earnings |
2,886 |
(13,330) |
|
Shareholders' funds |
230,836 |
214,620 |
For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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
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Blockfree Waste Services Limited
Statement of Changes in Equity for the Year Ended 31 May 2024
Share capital |
Capital redemption reserve |
Non-distributable reserve |
Retained earnings |
Total |
|
At 1 June 2023 |
|
|
|
( |
|
Profit for the year |
- |
- |
- |
|
|
Dividends |
- |
- |
- |
( |
( |
At 31 May 2024 |
|
|
|
|
|
Share capital |
Capital redemption reserve |
Non-distributable reserve |
Retained earnings |
Total |
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At 1 June 2022 |
|
|
|
|
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Profit for the year |
- |
- |
- |
|
|
Dividends |
- |
- |
- |
( |
( |
Transfers |
- |
- |
79,884 |
(79,884) |
- |
At 31 May 2023 |
50 |
50 |
227,850 |
(13,330) |
214,620 |
Blockfree Waste Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
General information |
The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 05646545.
The address of its registered office is:
These financial statements cover the individual entity, Blockfree Waste Services Limited.
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 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The financial statements have been prepared in sterling and are rounded to the nearest pound.
Revenue recognition
Turnover comprises the fair value of the rent received or receivable for the letting of property in the ordinary course of the company’s activities.
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.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with certain
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in
the financial statements that arise from the inclusion of income and expense in tax assessments in periods different
from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the
balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued
non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that
apply to the sale of the asset.
Blockfree Waste Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Investment property
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.
Staff numbers |
The average number of persons employed by the Company during the year, was
Investment properties |
2024 |
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At 1 June 2023 |
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At 31 May 2024 |
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Blockfree Waste Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 June 2023 |
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Provision |
|
Carrying amount |
|
At 31 May 2024 |
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At 31 May 2023 |
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Debtors |
Current |
Note |
2024 |
2023 |
Amounts owed by related parties |
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|
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|
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Bank loans and overdraft |
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Accruals and deferred income |
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Other creditors |
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Creditors include a bank loan falling due within one year which is secured of £23,654 (2023 - £22,718).
Creditors include a bank loan falling due after more than one year which is secured of £460,076 (2023 - £482,354).
The bank loan is secured on the company's freehold land and buildings and by fixed and floating charges over the company's assets.
Amounts due after more than five years repayable by demand are £343,258 (2023 - £336,339)
Blockfree Waste Services Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Loans and borrowings |
2024 |
2023 |
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Non-current loans and borrowings |
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Bank borrowings |
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2024 |
2023 |
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Current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
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|
50 |
|
50 |
Related party transactions |
Summary of transactions with subsidiaries
Income and receivables from related parties
2024 |
Subsidiary |
Amounts receivable from related party |
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|
2023 |
Subsidiary |
Amounts receivable from related party |
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Expenditure with and payables to related parties
2024 |
Key management |
Amounts payable to related party |
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2023 |
Key management |
Amounts payable to related party |
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