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C.D. Waste Management Limited

Registered Number
03781993
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

C.D. Waste Management Limited
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Dyth THOMPSON
Clifton THOMSON

Registered Address

32 Willoughby Road
London
N8 0JG

Registered Number

03781993 (England and Wales)
C.D. Waste Management Limited
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets5748,220894,151
Investments6424,906424,906
1,173,1261,319,057
Current assets
Debtors1,575,5231,942,683
Cash at bank and on hand1,715,5361,253,308
3,291,0593,195,991
Creditors amounts falling due within one year7(922,585)(1,178,691)
Net current assets (liabilities)2,368,4742,017,300
Total assets less current liabilities3,541,6003,336,357
Creditors amounts falling due after one year8(276,182)(461,417)
Provisions for liabilities10(169,431)(153,757)
Net assets3,095,9872,721,183
Capital and reserves
Called up share capital1,0001,000
Profit and loss account3,094,9872,720,183
Shareholders' funds3,095,9872,721,183
The financial statements were approved and authorised for issue by the Board of Directors on 25 February 2025, and are signed on its behalf by:
Clifton THOMSON
Director
Registered Company No. 03781993
C.D. Waste Management Limited
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Intangible assets refer to Cryptocurrency stated at cost.
Cryptocurrency assets
Cryptocurrency assets (under IAS 38) are recorded as intangible assets and can be measured at either cost or revaluation. The company has elected to measure them at cost. The assets are held for investment purposes and therefore cannot be recognised as stock as they are not being held for sale in the ordinary course of business.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles15
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.Average number of employees

20242023
Average number of employees during the year2526
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Intangible assets
Intangible assets below, Under Fixed Asset Investments in Note 6 relate to investment in Cryptocurrency.
5.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 July 23559,9901,549,72139,7552,149,466
Additions1,00048,750-49,750
Disposals-(155,500)-(155,500)
At 30 June 24560,9901,442,97139,7552,043,716
Depreciation and impairment
At 01 July 23471,394746,74137,1801,255,315
Charge for year22,234119,885643142,762
On disposals-(102,581)-(102,581)
At 30 June 24493,628764,04537,8231,295,496
Net book value
At 30 June 2467,362678,9261,932748,220
At 30 June 2388,596802,9802,575894,151
6.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 July 23424,906424,906
At 30 June 24424,906424,906
Net book value
At 30 June 24424,906424,906
At 30 June 23424,906424,906

Notes

1Other investments other than loans
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables719,429883,833
Bank borrowings and overdrafts-1,762
Taxation and social security188,509222,871
Other creditors8,64734,424
Accrued liabilities and deferred income6,00035,801
Total922,5851,178,691
8.Creditors: amounts due after one year

2024

2023

££
Other creditors276,182461,417
Total276,182461,417
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts276,182461,417
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)169,431153,757
Total169,431153,757