Company registration number 04583514 (England and Wales)
ABBEY WASTE CONTROL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
ABBEY WASTE CONTROL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ABBEY WASTE CONTROL LIMITED
BALANCE SHEET
AS AT
5 APRIL 2024
05 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
8,614
8,614
Tangible assets
4
494,313
495,515
502,927
504,129
Current assets
Debtors
5
311,313
146,424
Cash at bank and in hand
5,163
1,559
316,476
147,983
Creditors: amounts falling due within one year
6
(267,805)
(197,545)
Net current assets/(liabilities)
48,671
(49,562)
Total assets less current liabilities
551,598
454,567
Creditors: amounts falling due after more than one year
7
(44,706)
(69,385)
Provisions for liabilities
(617)
433
Net assets
506,275
385,615
Capital and reserves
Called up share capital
3,000
3,000
Revaluation reserve
8
113,550
113,550
Profit and loss reserves
389,725
269,065
Total equity
506,275
385,615
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ABBEY WASTE CONTROL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
5 APRIL 2024
05 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 January 2025 and are signed on its behalf by:
Mr TM A Bonham
Director
Company registration number 04583514 (England and Wales)
ABBEY WASTE CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
- 3 -
1
Accounting policies
Company information
Abbey Waste Control Limited is a private company limited by shares incorporated in England and Wales. The registered office is Victory House, 245 Southtown Road, Great Yarmouth, Norfolk, England, NR31 0JJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
- 25% reducing balance
Fixtures and fittings
- 25% reducing balance
Computers
- 25% straight line
Motor vehicles
- 25% reducing balance
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
ABBEY WASTE CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
13
17
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 6 April 2023 and 5 April 2024
56,800
8,614
65,414
Amortisation and impairment
At 6 April 2023 and 5 April 2024
56,800
56,800
Carrying amount
At 5 April 2024
8,614
8,614
At 5 April 2023
8,614
8,614
ABBEY WASTE CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 6 April 2023
491,064
190,852
681,916
Disposals
(5,000)
(5,000)
At 5 April 2024
491,064
185,852
676,916
Depreciation and impairment
At 6 April 2023
186,402
186,402
Depreciation charged in the year
1,082
1,082
Eliminated in respect of disposals
(4,881)
(4,881)
At 5 April 2024
182,603
182,603
Carrying amount
At 5 April 2024
491,064
3,249
494,313
At 5 April 2023
491,064
4,451
495,515
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
86,529
86,529
Other debtors
224,784
59,895
311,313
146,424
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
24,277
22,776
Trade creditors
4,076
6,124
Corporation tax
85,422
35,898
Other taxation and social security
93,661
73,939
Other creditors
60,369
58,808
267,805
197,545
ABBEY WASTE CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
44,706
69,385
8
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
113,550
113,550