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Registered number: 04342685
Wellington Waste Skips Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Kenyon & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04342685
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,633,805 2,714,037
3,633,805 2,714,037
CURRENT ASSETS
Debtors 5 366,367 346,385
Cash at bank and in hand 122,203 57,998
488,570 404,383
Creditors: Amounts Falling Due Within One Year 6 (1,299,628 ) (1,162,331 )
NET CURRENT ASSETS (LIABILITIES) (811,058 ) (757,948 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,822,747 1,956,089
Creditors: Amounts Falling Due After More Than One Year 7 (1,061,579 ) (1,188,029 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (352,273 ) (176,214 )
NET ASSETS 1,408,895 591,846
CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 821,752 -
Profit and Loss Account 587,141 591,844
SHAREHOLDERS' FUNDS 1,408,895 591,846
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Anthony Palfrey
Director
21 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Wellington Waste Skips Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04342685 . The registered office is Summerfield Avenue, Chelston Business Park, Wellington, Somerset, TA21 9JF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 1% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors during the year was 32 (2023: 30)
32 30
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 July 2023 1,853,917 1,834,711 966,009 36,378 4,691,015
Additions - 169,090 30,455 - 199,545
Disposals - (31,250 ) (183,293 ) - (214,543 )
Revaluation 1,014,509 - - - 1,014,509
As at 30 June 2024 2,868,426 1,972,551 813,171 36,378 5,690,526
Depreciation
As at 1 July 2023 69,692 1,230,917 642,402 33,967 1,976,978
Provided during the period 18,492 152,179 81,605 2,378 254,654
Disposals - (19,259 ) (155,652 ) - (174,911 )
As at 30 June 2024 88,184 1,363,837 568,355 36,345 2,056,721
Net Book Value
As at 30 June 2024 2,780,242 608,714 244,816 33 3,633,805
As at 1 July 2023 1,784,225 603,794 323,607 2,411 2,714,037
Cost or valuation as at 30 June 2024 represented by:
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
At cost 1,853,917 1,972,551 813,171 36,378 4,676,017
At valuation 1,014,509 - - - 1,014,509
2,868,426 1,972,551 813,171 36,378 5,690,526
On 8 March 2024 an independent valuation was carried out on the Freehold Land & Property. The revalued amount is based on the open market value. 
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 366,367 346,385
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 192,326 242,574
Trade creditors 235,709 183,944
Bank loans and overdrafts 80,577 78,208
Corporation tax 48,107 14,897
Other taxes and social security 16,407 17,312
VAT 154,522 103,327
Other creditors 3,859 3,600
Accruals and deferred income 3,000 3,000
Directors' loan accounts 565,121 509,771
Payments on account - 5,698
1,299,628 1,162,331
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 234,135 276,895
Bank loans 827,444 911,134
1,061,579 1,188,029
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 192,326 242,574
Later than one year and not later than five years 234,135 276,895
426,461 519,469
426,461 519,469
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