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Registration number: 14978728

Waste Not Wanted Ltd

Unaudited Financial Statements

for the Period from 4 July 2023 to 31 July 2024

 

Waste Not Wanted Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Waste Not Wanted Ltd

Company Information

Director

Mr A Gittins

Registered office

18-20 High Street
Stevenage
Hertfordshire
SG1 3EJ

 

Waste Not Wanted Ltd

(Registration number: 14978728)
Balance Sheet as at 31 July 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

24,163

Creditors: Amounts falling due within one year

5

(24,052)

Total assets less current liabilities

 

111

Provisions for liabilities

21

Net assets

 

132

Capital and reserves

 

Called up share capital

1

Retained earnings

131

Shareholders' funds

 

132

For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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

Approved and authorised by the director on 30 September 2024
 

.........................................
Mr A Gittins
Director

 

Waste Not Wanted Ltd

Notes to the Unaudited Financial Statements for the Period from 4 July 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
18-20 High Street
Stevenage
Hertfordshire
SG1 3EJ
United Kingdom

The principal place of business is:
280 Ripon Road
Stevenage
Hertfordshire
SG1 4NG
United Kingdom

These financial statements were authorised for issue by the director on 30 September 2024.

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 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

 

Waste Not Wanted Ltd

Notes to the Unaudited Financial Statements for the Period from 4 July 2023 to 31 July 2024

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant & Machinery

25% Straight Line

Motor Vehicles

33% Reducing Balance

 

Waste Not Wanted Ltd

Notes to the Unaudited Financial Statements for the Period from 4 July 2023 to 31 July 2024

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 at the transaction price.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Waste Not Wanted Ltd

Notes to the Unaudited Financial Statements for the Period from 4 July 2023 to 31 July 2024

4

Tangible assets

Motor vehicles
 £

Plant & Machinery
£

Total
£

Cost or valuation

Additions

43,200

1,192

44,392

Disposals

(15,200)

-

(15,200)

At 31 July 2024

28,000

1,192

29,192

Depreciation

Charge for the period

4,895

134

5,029

At 31 July 2024

4,895

134

5,029

Carrying amount

At 31 July 2024

23,105

1,058

24,163

5

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Accruals and deferred income

1,410

Other creditors

22,642

24,052

 

Waste Not Wanted Ltd

Notes to the Unaudited Financial Statements for the Period from 4 July 2023 to 31 July 2024

6

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary share of £1 each


 

1

1

     

7

Related party transactions

Transactions with the director

2024

At 4 July 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mr A Gittins

Directors Loan Account

-

91,663

(110,305)

(18,642)

This loan is provided interest free and is repayable on demand.

8

Ultimate Controlling Party

The ultimate controlling party is Mr Andrew Gittins, by virtue of their shareholdings.