Blockfree Waste Services Limited 05646545 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is drain repairs, waste disposal and the hire of portable toilet facilities Digita Accounts Production Advanced 6.30.9574.0 false 05646545 2023-06-01 2024-05-31 05646545 2024-05-31 05646545 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2024-05-31 05646545 core:CapitalRedemptionReserve 2024-05-31 05646545 core:OtherMiscellaneousReserve 2024-05-31 05646545 core:RetainedEarningsAccumulatedLosses 2024-05-31 05646545 core:ShareCapital 2024-05-31 05646545 core:CurrentFinancialInstruments 2024-05-31 05646545 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 05646545 core:Non-currentFinancialInstruments 2024-05-31 05646545 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 05646545 core:AllSubsidiaries 2024-05-31 05646545 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-05-31 05646545 bus:SmallEntities 2023-06-01 2024-05-31 05646545 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 05646545 bus:FullAccounts 2023-06-01 2024-05-31 05646545 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 05646545 bus:RegisteredOffice 2023-06-01 2024-05-31 05646545 bus:CompanySecretaryDirector1 2023-06-01 2024-05-31 05646545 bus:Director3 2023-06-01 2024-05-31 05646545 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-06-01 2024-05-31 05646545 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05646545 core:CapitalRedemptionReserve 2023-06-01 2024-05-31 05646545 core:OtherMiscellaneousReserve 2023-06-01 2024-05-31 05646545 core:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 05646545 core:ShareCapital 2023-06-01 2024-05-31 05646545 core:AllSubsidiaries 2023-06-01 2024-05-31 05646545 countries:EnglandWales 2023-06-01 2024-05-31 05646545 2023-05-31 05646545 core:CapitalRedemptionReserve 2023-05-31 05646545 core:OtherMiscellaneousReserve 2023-05-31 05646545 core:RetainedEarningsAccumulatedLosses 2023-05-31 05646545 core:ShareCapital 2023-05-31 05646545 core:CostValuation 2023-05-31 05646545 2022-06-01 2023-05-31 05646545 2023-05-31 05646545 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-05-31 05646545 core:CurrentFinancialInstruments 2023-05-31 05646545 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 05646545 core:Non-currentFinancialInstruments 2023-05-31 05646545 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 05646545 core:AllSubsidiaries 2023-05-31 05646545 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-31 05646545 core:CapitalRedemptionReserve 2022-06-01 2023-05-31 05646545 core:OtherMiscellaneousReserve 2022-06-01 2023-05-31 05646545 core:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 05646545 core:ShareCapital 2022-06-01 2023-05-31 05646545 2022-05-31 05646545 core:CapitalRedemptionReserve 2022-05-31 05646545 core:OtherMiscellaneousReserve 2022-05-31 05646545 core:RetainedEarningsAccumulatedLosses 2022-05-31 05646545 core:ShareCapital 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05646545

Blockfree Waste Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Blockfree Waste Services Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 8

 

Blockfree Waste Services Limited

Company Information

Directors

S R Green

S J Foxlow

Company secretary

S R Green

Registered office

Nottingham Road
Louth
Lincolnshire
LN11 0WB

 

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:

S R Green - Company secretary and director

S J Foxlow

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 Board on 15 January 2025 and signed on its behalf by:
 

.........................................
S R Green
Company secretary and director

.........................................
S J Foxlow
Director

 

Blockfree Waste Services Limited

(Registration number: 05646545)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

900,000

900,000

Investments

5

98

98

 

900,098

900,098

Current assets

 

Debtors

6

125,180

167,476

Creditors: Amounts falling due within one year

7

(262,216)

(298,450)

Net current liabilities

 

(137,036)

(130,974)

Total assets less current liabilities

 

763,062

769,124

Creditors: Amounts falling due after more than one year

7

(460,076)

(482,354)

Provisions for liabilities

(72,150)

(72,150)

Net assets

 

230,836

214,620

Capital and reserves

 

Called up share capital

9

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:

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 15 January 2025 and signed on its behalf by:
 

.........................................
S R Green
Company secretary and director

.........................................
S J Foxlow
Director

 
     
 

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

50

50

227,850

(13,330)

214,620

Profit for the year

-

-

-

187,716

187,716

Dividends

-

-

-

(171,500)

(171,500)

At 31 May 2024

50

50

227,850

2,886

230,836

Share capital
£

Capital redemption reserve
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 June 2022

50

50

147,966

10,178

158,244

Profit for the year

-

-

-

239,376

239,376

Dividends

-

-

-

(183,000)

(183,000)

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

1

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:
Nottingham Road
Louth
Lincolnshire
LN11 0WB

These financial statements cover the individual entity, Blockfree Waste Services Limited.

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 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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

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.

3

Staff numbers

The average number of persons employed by the Company during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 June 2023

900,000

At 31 May 2024

900,000

 

Blockfree Waste Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

98

98

Subsidiaries

£

Cost or valuation

At 1 June 2023

98

Provision

Carrying amount

At 31 May 2024

98

At 31 May 2023

98

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

10

125,180

167,476

   

125,180

167,476

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdraft

8

23,654

22,718

Accruals and deferred income

 

11,511

10,483

Other creditors

 

227,051

265,249

 

262,216

298,450

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

460,076

482,354

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

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

460,076

482,354

2024
£

2023
£

Current loans and borrowings

Bank borrowings

23,654

22,718

Other borrowings

227,051

265,249

250,705

287,967

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

50

50

50

50

         

10

Related party transactions

Summary of transactions with subsidiaries

£10,000 rent per annum is charged to the subsidiary which is below full market value.
 

Income and receivables from related parties

2024

Subsidiary
£

Amounts receivable from related party

125,180

2023

Subsidiary
£

Amounts receivable from related party

167,476

Expenditure with and payables to related parties

2024

Key management
£

Amounts payable to related party

227,051

2023

Key management
£

Amounts payable to related party

265,249