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REGISTERED NUMBER: 08561161 (England and Wales)







Unaudited Financial Statements

for the Period

1 July 2023 to 31 May 2024

for

Flappit Tipping and Recycling Limited

Flappit Tipping and Recycling Limited (Registered number: 08561161)






Contents of the Financial Statements
for the Period 1 July 2023 to 31 May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Flappit Tipping and Recycling Limited (Registered number: 08561161)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,201,654 1,305,308

CURRENT ASSETS
Debtors 5 1,065,677 536,455
Cash at bank 156,677 111,000
1,222,354 647,455
CREDITORS
Amounts falling due within one year 6 2,246,350 1,861,686
NET CURRENT LIABILITIES (1,023,996 ) (1,214,231 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

177,658

91,077

PROVISIONS FOR LIABILITIES 13,965 13,392
NET ASSETS 163,693 77,685

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 163,692 77,684
163,693 77,685

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

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

The director acknowledges his 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.

Flappit Tipping and Recycling Limited (Registered number: 08561161)

Balance Sheet - continued
31 May 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 February 2025 and were signed by:





J S Brooksbank - Director


Flappit Tipping and Recycling Limited (Registered number: 08561161)

Notes to the Financial Statements
for the Period 1 July 2023 to 31 May 2024

1. STATUTORY INFORMATION

Flappit Tipping and Recycling Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08561161

Registered office: Clifton House
Birkby Lane
Bailiff Bridge
Brighouse
West Yorkshire
HD6 4JJ

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 UK and Republic of Ireland" and 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 give a true and fair view.

The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised on delivery. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Freehold property- 12 years straight line
Plant & machinery- 10 years straight line
Fixtures & fittings- 10 years straight line
Motor vehicles- 4 years straight line


Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.


Flappit Tipping and Recycling Limited (Registered number: 08561161)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by shareholders at an Annual General Meeting.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors and other creditors.

Trade debtors, other debtors, cash and bank balances, trade creditors, and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 10 (2023 - 7 ) .

Flappit Tipping and Recycling Limited (Registered number: 08561161)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 1,351,771 79,348 1,431,119
Additions - 7,700 7,700
At 31 May 2024 1,351,771 87,048 1,438,819
DEPRECIATION
At 1 July 2023 112,648 13,163 125,811
Charge for period 103,260 8,094 111,354
At 31 May 2024 215,908 21,257 237,165
NET BOOK VALUE
At 31 May 2024 1,135,863 65,791 1,201,654
At 30 June 2023 1,239,123 66,185 1,305,308

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 244,543 154,816
Other debtors 821,134 381,639
1,065,677 536,455

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 56,288 31,370
Taxation and social security 79,009 39,107
Other creditors 2,111,053 1,791,209
2,246,350 1,861,686

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 25,000 -
Between one and five years 93,750 -
118,750 -

Flappit Tipping and Recycling Limited (Registered number: 08561161)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 31 May 2024

8. CALLED UP SHARE CAPITAL

2024 2023
£ £
Allotted, issued and fully paid 1 1
1 1

9. RELATED PARTY DISCLOSURES

At the balance sheet date £1,491,863 (2023 - £1,224,414) was owed to entities under common control or controlled by close family members, of the director and shareholder of Flappit Tipping and Recycling Limited, and £804,535 (2023 - £373,054) was owed by entities under common control or controlled by close family members, of the director and shareholder of Flappit Tipping and Recycling Limited.