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REGISTERED NUMBER: 11202703 (England and Wales)
















Unwasted Limited

Unaudited Financial Statements

for the Year Ended 31st December 2024






Unwasted Limited (Registered number: 11202703)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Unwasted Limited

Company Information
for the Year Ended 31st December 2024







Directors: Mr R M Fountain
Mr E M Manning
Mr B Gantriis





Registered office: 4th Floor
100 Fenchurch Street
London
EC3M 5JD





Registered number: 11202703 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

Unwasted Limited (Registered number: 11202703)

Statement of Financial Position
31st December 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 563,273 319,968
Tangible assets 5 705,080 759,805
Investments 6 4,517 4,517
1,272,870 1,084,290

Current assets
Debtors 7 591,985 432,219
Cash at bank and in hand 208,853 406,702
800,838 838,921
Creditors
Amounts falling due within one year 8 2,738,137 1,818,199
Net current liabilities (1,937,299 ) (979,278 )
Total assets less current liabilities (664,429 ) 105,012

Capital and reserves
Called up share capital 492 471
Share premium 4,537,867 3,837,895
Retained earnings (5,202,788 ) (3,733,354 )
(664,429 ) 105,012

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th January 2025 and were signed on its behalf by:



Mr R M Fountain - Director


Unwasted Limited (Registered number: 11202703)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. Statutory information

Unwasted Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors, that they will continue to give financial support to the company for twelve months from the date of signing of these financial statements.

On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's financial statements may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The financial statements do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Preparation of consolidated financial statements
The financial statements contain information about Unwasted Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Amortisation
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Research and development costs are being amortised evenly over their estimated useful life of five years.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Development costs - 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost loss any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Intangible assets acquired as part of a business combination are recorded at fair value at the acquisition date.

Unwasted Limited (Registered number: 11202703)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

2. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% straight line
Computer equipment - 20% on cost

The company has developed a second hand panel board production line and is depreciating the related operating plant and machinery at 15% straight line.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Development expenditure is incurred on clearly defined projects whose outcome can be assessed with reasonable certainty is carried forward and amortisation is charged from that time over the lesser of the life of the project or five years.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 11 (2023 - 10 ) .

Unwasted Limited (Registered number: 11202703)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

4. Intangible fixed assets
Research
and
developme
costs
£   
Cost
At 1st January 2024 834,448
Additions 459,323
At 31st December 2024 1,293,771
Amortisation
At 1st January 2024 514,480
Amortisation for year 216,018
At 31st December 2024 730,498
Net book value
At 31st December 2024 563,273
At 31st December 2023 319,968

5. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£    £    £   
Cost
At 1st January 2024 925,213 6,482 931,695
Additions 100,143 480 100,623
At 31st December 2024 1,025,356 6,962 1,032,318
Depreciation
At 1st January 2024 171,107 783 171,890
Charge for year 153,803 1,545 155,348
At 31st December 2024 324,910 2,328 327,238
Net book value
At 31st December 2024 700,446 4,634 705,080
At 31st December 2023 754,106 5,699 759,805

Unwasted Limited (Registered number: 11202703)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

6. Fixed asset investments
Shares in
group
undertakin
£   
Cost
At 1st January 2024
and 31st December 2024 4,517
Net book value
At 31st December 2024 4,517
At 31st December 2023 4,517

The investment relates to the 100% owned Danish subsidiary, Unwasted APS.

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 591,985 432,219

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 2,695,089 1,554,373
Trade creditors 8,159 165,095
Taxation and social security 17,866 25,326
Other creditors 17,023 73,405
2,738,137 1,818,199

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 50,959 96,178
Between one and five years - 50,959
50,959 147,137