0 false false false false false false false false false false true false false false false true true No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 05578800 2023-09-01 2024-08-31 05578800 2024-08-31 05578800 2023-08-31 05578800 2022-09-01 2023-08-31 05578800 2023-08-31 05578800 2022-08-31 05578800 core:LandBuildings core:LongLeaseholdAssets 2023-09-01 2024-08-31 05578800 core:PlantMachinery 2023-09-01 2024-08-31 05578800 core:FurnitureFittings 2023-09-01 2024-08-31 05578800 core:MotorVehicles 2023-09-01 2024-08-31 05578800 bus:Director1 2023-09-01 2024-08-31 05578800 bus:Director2 2023-09-01 2024-08-31 05578800 core:WithinOneYear 2024-08-31 05578800 core:WithinOneYear 2023-08-31 05578800 core:ShareCapital 2024-08-31 05578800 core:ShareCapital 2023-08-31 05578800 core:RetainedEarningsAccumulatedLosses 2024-08-31 05578800 core:RetainedEarningsAccumulatedLosses 2023-08-31 05578800 bus:SmallEntities 2023-09-01 2024-08-31 05578800 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05578800 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05578800 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05578800 bus:AbridgedAccounts 2023-09-01 2024-08-31 05578800 core:OfficeEquipment 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: 05578800
PH WASTE MANAGEMENT & RECYCLING LIMITED
Filleted Unaudited Abridged Financial Statements
31 August 2024
PH WASTE MANAGEMENT & RECYCLING LIMITED
Abridged Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Current assets
Debtors
161
360
Creditors: amounts falling due within one year
548,826
536,072
---------
---------
Net current liabilities
548,665
535,712
---------
---------
Total assets less current liabilities
( 548,665)
( 535,712)
---------
---------
Net liabilities
( 548,665)
( 535,712)
---------
---------
PH WASTE MANAGEMENT & RECYCLING LIMITED
Abridged Statement of Financial Position (continued)
31 August 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 548,666)
( 535,713)
---------
---------
Shareholders deficit
( 548,665)
( 535,712)
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 August 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 abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 3 February 2025 , and are signed on behalf of the board by:
P A HUDSON
D S HUDSON
Director
Director
Company registration number: 05578800
PH WASTE MANAGEMENT & RECYCLING LIMITED
Notes to the Abridged Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 205 Wells Road, Knowle, Bristol, BS4 2DF. The address of the principal place of business is Unit 19 Bakers Park, Cater Road, Bishopsworth, Bristol, BS13 7TT.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss . The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company. Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
4% straight line
Plant and machinery
-
15% straight line
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% straight line
Equipment
-
15% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 6 ).
5. Defined contribution plans
The company operates a pension scheme for employees. The company makes contributions to the scheme and the benefits are provided by policies effected with NEST. The contributions are defined as such amounts as the company, at its discretion, shall from time to time decide, subject to minima required by current legislation.
The charge to the profit and loss account in respect of the pension contributions in the period amounted to Nil (2023 - £2,371).
6. Related party transactions
The company was under the control of Mr and Mrs P A Hudson throughout the current period. Mr and Mrs Hudson are the majority shareholders in the parent company. The company paid rent for a yard owned personally by Mr and Mrs Hudson. The company paid rent of Nil (2023 - £23,800) in the year which was the market rate.
7. Controlling party
The company regards PH Scaffolding & Skip Hire Limited, incorporated in the United Kingdom, as its ultimate parent company. The registered office of this company is 205 Wells Road, Knowle, Bristol, BS4 2DF.