Mick's Skips Limited 04702315 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is the hiring of skips and operating a waste transfer site Digita Accounts Production Advanced 6.30.9574.0 true 04702315 2023-06-01 2024-05-31 04702315 2024-05-31 04702315 core:CurrentFinancialInstruments 2024-05-31 04702315 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 04702315 core:Goodwill 2024-05-31 04702315 core:FurnitureFittingsToolsEquipment 2024-05-31 04702315 core:LandBuildings 2024-05-31 04702315 core:MotorVehicles 2024-05-31 04702315 core:OtherPropertyPlantEquipment 2024-05-31 04702315 bus:SmallEntities 2023-06-01 2024-05-31 04702315 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04702315 bus:FilletedAccounts 2023-06-01 2024-05-31 04702315 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04702315 bus:RegisteredOffice 2023-06-01 2024-05-31 04702315 bus:Director1 2023-06-01 2024-05-31 04702315 bus:Director2 2023-06-01 2024-05-31 04702315 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04702315 core:Goodwill 2023-06-01 2024-05-31 04702315 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 04702315 core:LandBuildings 2023-06-01 2024-05-31 04702315 core:MotorVehicles 2023-06-01 2024-05-31 04702315 core:OfficeEquipment 2023-06-01 2024-05-31 04702315 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 04702315 core:PlantMachinery 2023-06-01 2024-05-31 04702315 countries:EnglandWales 2023-06-01 2024-05-31 04702315 2023-05-31 04702315 core:Goodwill 2023-05-31 04702315 core:FurnitureFittingsToolsEquipment 2023-05-31 04702315 core:LandBuildings 2023-05-31 04702315 core:MotorVehicles 2023-05-31 04702315 core:OtherPropertyPlantEquipment 2023-05-31 04702315 2022-06-01 2023-05-31 04702315 2023-05-31 04702315 core:CurrentFinancialInstruments 2023-05-31 04702315 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 04702315 core:FurnitureFittingsToolsEquipment 2023-05-31 04702315 core:LandBuildings 2023-05-31 04702315 core:MotorVehicles 2023-05-31 04702315 core:OtherPropertyPlantEquipment 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 04702315

Mick's Skips Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Mick's Skips Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Mick's Skips Limited

Company Information

Directors

Mr Edward Terrence Freshwater

Mr Terry James Freshwater

Registered office

37 Market Square
Witney
Oxon
OX28 6RE

Accountants

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Mick's Skips Limited

(Registration number: 04702315)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

80,837

101,791

Current assets

 

Debtors

6

370,465

381,512

Cash at bank and in hand

 

107,903

144,565

 

478,368

526,077

Creditors: Amounts falling due within one year

7

(427,254)

(409,793)

Net current assets

 

51,114

116,284

Total assets less current liabilities

 

131,951

218,075

Provisions for liabilities

(15,359)

(19,047)

Net assets

 

116,592

199,028

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

115,592

198,028

Shareholders' funds

 

116,592

199,028

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 21 February 2025 and signed on its behalf by:
 

Mr Edward Terrence Freshwater

Director

 

Mick's Skips Limited

Notes to the 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.

The address of its registered office is:
37 Market Square
Witney
Oxon
OX28 6RE

The principal place of business is:
Unit 11D, Bromag Industrial Estate
Burford Road
Minster Lovell
Witney
OX29 0SR

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 except that as disclosed in the accounting policies certain items are shown at fair value.

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 and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Office equipment

30% reducing balance

Transfer station

20% reducing balance

 

Mick's Skips Limited

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Mick's Skips Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 16).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

90,000

90,000

At 31 May 2024

90,000

90,000

Amortisation

At 1 June 2023

90,000

90,000

At 31 May 2024

90,000

90,000

Carrying amount

At 31 May 2024

-

-

 

Mick's Skips Limited

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

5

Tangible assets

Transfer station
£

Office equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

90,000

2,315

218,795

288,760

599,870

At 31 May 2024

90,000

2,315

218,795

288,760

599,870

Depreciation

At 1 June 2023

88,962

2,294

175,696

231,127

498,079

Charge for the year

208

6

10,775

9,965

20,954

At 31 May 2024

89,170

2,300

186,471

241,092

519,033

Carrying amount

At 31 May 2024

830

15

32,324

47,668

80,837

At 31 May 2023

1,038

21

43,099

57,633

101,791

Included within the net book value of land and buildings above is £830 (2023 - £1,038) in respect of long leasehold land and buildings.
 

 

Mick's Skips Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

321,792

331,211

Prepayments

48,673

50,301

 

370,465

381,512

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

303,053

294,168

Taxation and social security

43,834

49,607

Accruals and deferred income

25,428

10,613

Other creditors

54,939

55,405

427,254

409,793