Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true2023-07-01falseNo description of principal activity4848trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03757761 2023-07-01 2024-06-30 03757761 2022-07-01 2023-06-30 03757761 2024-06-30 03757761 2023-06-30 03757761 c:Director3 2023-07-01 2024-06-30 03757761 d:Buildings 2023-07-01 2024-06-30 03757761 d:Buildings 2024-06-30 03757761 d:Buildings 2023-06-30 03757761 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03757761 d:PlantMachinery 2023-07-01 2024-06-30 03757761 d:PlantMachinery 2024-06-30 03757761 d:PlantMachinery 2023-06-30 03757761 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03757761 d:MotorVehicles 2023-07-01 2024-06-30 03757761 d:MotorVehicles 2024-06-30 03757761 d:MotorVehicles 2023-06-30 03757761 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03757761 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03757761 d:CurrentFinancialInstruments 2024-06-30 03757761 d:CurrentFinancialInstruments 2023-06-30 03757761 d:Non-currentFinancialInstruments 2024-06-30 03757761 d:Non-currentFinancialInstruments 2023-06-30 03757761 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 03757761 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03757761 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 03757761 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 03757761 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 03757761 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 03757761 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 03757761 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 03757761 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 03757761 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 03757761 d:ShareCapital 2024-06-30 03757761 d:ShareCapital 2023-06-30 03757761 d:RetainedEarningsAccumulatedLosses 2024-06-30 03757761 d:RetainedEarningsAccumulatedLosses 2023-06-30 03757761 c:FRS102 2023-07-01 2024-06-30 03757761 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03757761 c:FullAccounts 2023-07-01 2024-06-30 03757761 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03757761 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 03757761 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 03757761 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 03757761 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 03757761 2 2023-07-01 2024-06-30 03757761 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number:  03757761














1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


 
1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
REGISTERED NUMBER: 03757761

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,344,059
1,164,483

  
1,344,059
1,164,483

Current assets
  

Stocks
  
25,183
24,203

Debtors: amounts falling due within one year
 5 
3,281,363
3,196,525

Cash at bank and in hand
 6 
434,168
230,966

  
3,740,714
3,451,694

Creditors: amounts falling due within one year
 7 
(2,035,295)
(1,834,887)

Net current assets
  
 
 
1,705,419
 
 
1,616,807

Total assets less current liabilities
  
3,049,478
2,781,290

Creditors: amounts falling due after more than one year
 8 
(757,497)
(809,896)

Provisions for liabilities
  

Deferred tax
  
(314,662)
(255,807)

  
 
 
(314,662)
 
 
(255,807)

Net assets
  
1,977,319
1,715,587


Capital and reserves
  

Called up share capital 
  
180
180

Profit and loss account
  
1,977,139
1,715,407

  
1,977,319
1,715,587


Page 1

 
1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
REGISTERED NUMBER: 03757761
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J March
Director

Date: 19 March 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England & Wales (no. 03757761). The registered office is Arbour Works, Arbour Lane, Liverpool, England, L33 7XBD.
These financial statements present information about the company as an individual undertaking. The principal activity of the company is that of sale of concrete and waste management services.
The presentation currency of these financial statements is £ sterling; the financial statements are
rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 4

 
1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
On cost
Plant and machinery
-
12%
On cost
Motor vehicles
-
12%
On cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 48 (2023 - 48).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 July 2023
91,623
1,508,726
958,179
2,558,528


Additions
19,650
295,914
178,249
493,813


Disposals
-
(274,626)
(53,411)
(328,037)



At 30 June 2024

111,273
1,530,014
1,083,017
2,724,304



Depreciation


At 1 July 2023
43,859
963,175
387,011
1,394,045


Charge for the year on owned assets
1,172
113,168
99,833
214,173


Disposals
-
(202,472)
(25,501)
(227,973)



At 30 June 2024

45,031
873,871
461,343
1,380,245



Net book value



At 30 June 2024
66,242
656,143
621,674
1,344,059



At 30 June 2023
47,764
545,551
571,168
1,164,483

Page 6

 
1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,204,994
1,201,569

Other debtors
2,023,069
1,962,840

Prepayments and accrued income
53,300
32,116

3,281,363
3,196,525



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
434,168
230,966

434,168
230,966


Page 7

 
1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
69,844
80,602

Trade creditors
352,289
295,241

Corporation tax
27,061
-

Other taxation and social security
175,170
140,731

Obligations under finance lease and hire purchase contracts
225,507
213,434

Other creditors
1,108,154
1,001,031

Accruals and deferred income
77,270
103,848

2,035,295
1,834,887


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
225,507
213,434

Other creditors
1,093,723
984,786

1,319,230
1,198,220

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured against the assets concerned.
Other creditors are secured by fixed and floating charges held against the assets of the company.

Page 8

 
1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
310,889
374,676

Net obligations under finance leases and hire purchase contracts
446,608
435,220

757,497
809,896


The following liabilities were secured:

2024
2023
£
£



Obligations under finance lease and hire purchase contracts
446,608
435,220

446,608
435,220

Details of security provided:

Obligations under finance lease and hire purchase contracts are secured against the assets concerned.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
69,844
80,602

Amounts falling due 1-2 years

Bank loans
93,333
93,333

Amounts falling due 2-5 years

Bank loans
217,556
261,666

Amounts falling due after more than 5 years

Bank loans
-
19,677

380,733
455,278


Page 9

 
1ST CHOICE CONCRETE AND SKIP HIRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
229,176
213,434

Between 1-5 years
446,773
428,043

675,949
641,477


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £31,650 (2023 - £27,275). Contributions totalling £6,082 (2023 - £7,898) were payable to the fund at the balance sheet date and are included in creditors.


12.Director's personal guarantees

J March (director) has given a personal guarantee on borrowings received in favour of HSBC for an amount limited to £50,000.


13.


Related party transactions

Included in debtors is an amount of £2,018,068 (2023 - £1,948,368) owed from 1st Choice Recycling Limited, the parent company. The loan is repayable on demand and no interest has been charged.


14.


Controlling party

The company us under the control of its parent, 1st Choice Recycling Limited.

 
Page 10