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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2024 - FRS102_2024
xbrli:pure
xbrli:shares
iso4217:GBP
03998195
2023-01-01
2024-06-30
03998195
2024-06-30
03998195
2022-12-31
03998195
2022-01-01
2022-12-31
03998195
2022-12-31
03998195
2021-12-31
03998195
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2024-06-30
03998195
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2023-01-01
2024-06-30
03998195
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2024-06-30
03998195
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2023-01-01
2024-06-30
03998195
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2022-12-31
03998195
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2022-12-31
03998195
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2024-06-30
03998195
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2024-06-30
03998195
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2023-01-01
2024-06-30
03998195
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2023-01-01
2024-06-30
03998195
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2024-06-30
03998195
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2022-12-31
03998195
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2024-06-30
03998195
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2022-12-31
03998195
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2024-06-30
03998195
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2022-12-31
03998195
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2024-06-30
03998195
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2022-12-31
03998195
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03998195
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2022-12-31
03998195
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2024-06-30
03998195
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2024-06-30
03998195
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03998195
bus:PrivateLimitedCompanyLtd
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2024-06-30
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03998195
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2022-12-31
COMPANY REGISTRATION NUMBER:
03998195
Filleted Unaudited Financial Statements |
|
Period from 1 January 2023 to 30 June 2024
Officers and professional advisers |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Officers and Professional Advisers |
|
Registered office |
Glyncynwal Uchaf Farm |
|
Lower Cwmtwrch |
|
Swansea |
|
West Glamorgan |
|
SA9 2QQ |
|
|
Accountants |
James & Uzzell Ltd |
|
Chartered Certified Accountants |
|
Axis 15, Axis Court |
|
Mallard Way |
|
Riverside Business Park |
|
Swansea |
|
SA7 0AJ |
|
|
Statement of Financial Position |
|
30 June 2024
|
30 Jun 24 |
31 Dec 22 |
Note |
£ |
£ |
|
|
|
FIXED ASSETS
Tangible assets |
5 |
1,050,475 |
970,065 |
|
|
|
|
CURRENT ASSETS
Debtors |
6 |
206,078 |
2,258,327 |
Cash at bank and in hand |
62,077 |
103,570 |
|
--------- |
------------ |
|
268,155 |
2,361,897 |
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
1,360,183 |
1,315,408 |
|
------------ |
------------ |
NET CURRENT (LIABILITIES)/ASSETS |
(
1,092,028) |
1,046,489 |
|
------------ |
------------ |
TOTAL ASSETS LESS CURRENT LIABILITIES |
(
41,553) |
2,016,554 |
|
|
|
|
CREDITORS: amounts falling due after more than one year |
8 |
89,426 |
227,355 |
|
|
|
|
PROVISIONS
Taxation including deferred tax |
225,975 |
138,207 |
|
--------- |
------------ |
NET (LIABILITIES)/ASSETS |
(
356,954) |
1,650,992 |
|
--------- |
------------ |
|
|
|
CAPITAL AND RESERVES
Called up share capital |
9 |
2 |
2 |
Profit and loss account |
(
356,956) |
1,650,990 |
|
--------- |
------------ |
SHAREHOLDERS (DEFICIT)/FUNDS |
(
356,954) |
1,650,992 |
|
--------- |
------------ |
|
|
|
|
These 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 income statement has not been delivered.
For the period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
30 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
24 March 2025
, and are signed on behalf of the board by:
Mr J Adams
Mr J L Adams
Director
Company registration number:
03998195
Notes to the Financial Statements |
|
Period from 1 January 2023 to 30 June 2024
1.
GENERAL INFORMATION
JLA Recycling Limited
is a private company limited by shares incorporated in England & Wales, United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and principal activities are treatment and disposal of non-hazardous waste and recovery of sorted materials.
2.
STATEMENT OF COMPLIANCE
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102)', Section 1A for Small Entities and the Companies Act 2006.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. The reporting period of these financial statements and its comparative period is 12 months. These financial statements only include the results of the individual entity made up to 30 June 2024. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
Going concern
The directors have considered the future trading position of the company and are confident that the going concern principle can be applied to the financial statements, with support from directors and group companies.
Judgements and key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next financial year are addressed below. Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. Provisions Estimates are used in determining the value of provisions when recognised. This will be based on historical information, known expectations and reasonable outcomes. Going Concern The assessment of going concern may include the use of critical judgements in respect of impact of various external factors such as political, economic and social issues. Material uncertainties are considered in this regard
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: Rendering of services The company's turnover represents the value, excluding Value added Tax, of services for tipping charges supplied to customers during the year. The turnover is recognised on the day of tipping. The recycling of the waste is passed on to a fellow subsidiary, who charges the company for the cost of processing the waste and the related landfill tax.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount 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 represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Plant & Machinery |
- |
15% & 10% per annum of cost |
|
Motor Vehicles |
- |
|
|
|
|
|
Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the 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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.
Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to
15
(2022:
14
).
5.
TANGIBLE ASSETS
|
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 January 2023 |
2,051,031 |
64,779 |
2,115,810 |
Additions |
517,904 |
– |
517,904 |
Disposals |
(
181,000) |
– |
(
181,000) |
|
------------ |
-------- |
------------ |
At 30 June 2024 |
2,387,935 |
64,779 |
2,452,714 |
|
------------ |
-------- |
------------ |
Depreciation |
|
|
|
At 1 January 2023 |
1,089,838 |
55,907 |
1,145,745 |
Charge for the period |
340,409 |
7,854 |
348,263 |
Disposals |
(
91,769) |
– |
(
91,769) |
|
------------ |
-------- |
------------ |
At 30 June 2024 |
1,338,478 |
63,761 |
1,402,239 |
|
------------ |
-------- |
------------ |
Carrying amount |
|
|
|
At 30 June 2024 |
1,049,457 |
1,018 |
1,050,475 |
|
------------ |
-------- |
------------ |
At 31 December 2022 |
961,193 |
8,872 |
970,065 |
|
------------ |
-------- |
------------ |
|
|
|
|
6.
DEBTORS
|
30 Jun 24 |
31 Dec 22 |
|
£ |
£ |
Trade debtors |
178,640 |
285,015 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
– |
1,908,522 |
Other debtors |
27,438 |
64,790 |
|
--------- |
------------ |
|
206,078 |
2,258,327 |
|
--------- |
------------ |
|
|
|
7.
CREDITORS:
amounts falling due within one year
|
30 Jun 24 |
31 Dec 22 |
|
£ |
£ |
Bank loans and overdrafts |
53,135 |
49,099 |
Trade creditors |
67,765 |
49,015 |
Social security and other taxes |
1,929 |
44,316 |
Other creditors |
1,237,354 |
1,172,978 |
|
------------ |
------------ |
|
1,360,183 |
1,315,408 |
|
------------ |
------------ |
|
|
|
The total secured liabilities included in creditors within one year amounts to £160,632 (2022: £204,646). Obligations under finance leases and hire purchase contracts are secured by related assets.
8.
CREDITORS:
amounts falling due after more than one year
|
30 Jun 24 |
31 Dec 22 |
|
£ |
£ |
Bank loans and overdrafts |
13,703 |
96,631 |
Other creditors |
75,723 |
130,724 |
|
-------- |
--------- |
|
89,426 |
227,355 |
|
-------- |
--------- |
|
|
|
The total secured liabilities included in creditors after one year is £89,426 (2022: £227,356). Obligations under finance leases and hire purchase contracts are secured by related assets.
9.
CALLED UP SHARE CAPITAL
Issued, called up and fully paid
|
30 Jun 24 |
31 Dec 22 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
2 |
2 |
2 |
2 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
10.
OTHER FINANCIAL COMMITMENTS
Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £9,250 (2022 - £20,350).
11.
CONTINGENCIES
Celtic Minor Limited,
JLA Recycling Limited
and JLA Disposal Limited, fellow subsidiary companies, and Tir Canol Holdings Limited, the parent company, are party to a cross guarantee in respect of the group's bank borrowings. At the year end the bank borrowings of Tir Canol Holdings Limited covered by the cross guarantee amounted to £256,079 (2022: £315,176).
12.
RELATED PARTY TRANSACTIONS
During the year the company entered into transactions with related parties as follows: Other related parties
|
|
2024 |
2022 |
|
|
£ |
£ |
|
Amounts owed by other related parties |
– |
56,854 |
|
|
---- |
-------- |
|
Amounts owing to other related parties |
1,124,572 |
1,012,072 |
|
|
------------ |
------------ |
|
Rent paid to other related parties |
112,500 |
75,000 |
|
|
--------- |
-------- |
|
|
|
|
No interest has been charged on any of the outstanding amounts. Exemption under Section 33.1A has been claimed to not disclose transactions for 100% group companies.
13.
PARENT UNDERTAKINGS
The ultimate parent company is Tir Canol Holdings Limited, a company registered in Great Britain.