IRIS Accounts Production v24.3.2.46 03863280 Board of Directors Board of Directors 1.7.23 30.6.24 30.6.24 Medium entities true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh038632802023-06-30038632802024-06-30038632802023-07-012024-06-30038632802022-06-30038632802022-07-012023-06-30038632802023-06-3003863280ns15:EnglandWales2023-07-012024-06-3003863280ns14:PoundSterling2023-07-012024-06-3003863280ns10:Director12023-07-012024-06-3003863280ns10:Director22023-07-012024-06-3003863280ns10:CompanySecretary12023-07-012024-06-3003863280ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3003863280ns10:MediumEntities2023-07-012024-06-3003863280ns10:Audited2023-07-012024-06-3003863280ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-07-012024-06-3003863280ns10:Medium-sizedCompaniesRegimeForAccounts2023-07-012024-06-3003863280ns10:FullAccounts2023-07-012024-06-300386328012023-07-012024-06-3003863280ns10:OrdinaryShareClass12023-07-012024-06-3003863280ns10:Director32023-07-012024-06-3003863280ns10:RegisteredOffice2023-07-012024-06-3003863280ns5:CurrentFinancialInstruments2024-06-3003863280ns5:CurrentFinancialInstruments2023-06-3003863280ns5:Non-currentFinancialInstruments2024-06-3003863280ns5:Non-currentFinancialInstruments2023-06-3003863280ns5:ShareCapital2024-06-3003863280ns5:ShareCapital2023-06-3003863280ns5:RevaluationReserve2024-06-3003863280ns5:RevaluationReserve2023-06-3003863280ns5:RetainedEarningsAccumulatedLosses2024-06-3003863280ns5:RetainedEarningsAccumulatedLosses2023-06-3003863280ns5:ShareCapital2022-06-3003863280ns5:RetainedEarningsAccumulatedLosses2022-06-3003863280ns5:RevaluationReserve2022-06-3003863280ns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-3003863280ns5:RevaluationReserve2022-07-012023-06-3003863280ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-3003863280ns5:RevaluationReserve2023-07-012024-06-300386328012023-07-012024-06-300386328012022-07-012023-06-3003863280ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3003863280ns5:ComputerSoftware2023-07-012024-06-3003863280ns5:LandBuildingsns5:ShortLeaseholdAssets2023-07-012024-06-3003863280ns5:LeaseholdImprovements2023-07-012024-06-3003863280ns5:PlantMachinery2023-07-012024-06-3003863280ns5:FurnitureFittings2023-07-012024-06-3003863280ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-07-012024-06-3003863280ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-07-012023-06-3003863280ns5:OwnedAssets2023-07-012024-06-3003863280ns5:OwnedAssets2022-07-012023-06-3003863280ns5:LeasedAssets2023-07-012024-06-3003863280ns5:LeasedAssets2022-07-012023-06-3003863280ns5:ComputerSoftware2022-07-012023-06-3003863280112023-07-012024-06-3003863280112022-07-012023-06-300386328022023-07-012024-06-300386328022022-07-012023-06-3003863280ns5:HirePurchaseContracts2023-07-012024-06-3003863280ns5:HirePurchaseContracts2022-07-012023-06-3003863280ns5:ComputerSoftware2023-06-3003863280ns5:ComputerSoftware2024-06-3003863280ns5:ComputerSoftware2023-06-3003863280ns5:LandBuildings2023-06-3003863280ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-3003863280ns5:LeaseholdImprovements2023-06-3003863280ns5:LandBuildings2023-07-012024-06-3003863280ns5:LandBuildings2024-06-3003863280ns5:LandBuildingsns5:ShortLeaseholdAssets2024-06-3003863280ns5:LeaseholdImprovements2024-06-3003863280ns5:LandBuildings2023-06-3003863280ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-3003863280ns5:LeaseholdImprovements2023-06-3003863280ns5:PlantMachinery2023-06-3003863280ns5:FurnitureFittings2023-06-3003863280ns5:PlantMachinery2024-06-3003863280ns5:FurnitureFittings2024-06-3003863280ns5:PlantMachinery2023-06-3003863280ns5:FurnitureFittings2023-06-3003863280ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3003863280ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3003863280ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-06-3003863280ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-06-3003863280ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-06-3003863280ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-3003863280ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-06-3003863280ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-06-3003863280ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-06-3003863280ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-06-3003863280ns5:HirePurchaseContracts2024-06-3003863280ns5:HirePurchaseContracts2023-06-3003863280ns5:WithinOneYear2024-06-3003863280ns5:WithinOneYear2023-06-3003863280ns5:BetweenOneFiveYears2024-06-3003863280ns5:BetweenOneFiveYears2023-06-3003863280ns5:AllPeriods2024-06-3003863280ns5:AllPeriods2023-06-3003863280ns5:Secured2024-06-3003863280ns5:Secured2023-06-3003863280ns5:AcceleratedTaxDepreciationDeferredTax2024-06-3003863280ns5:AcceleratedTaxDepreciationDeferredTax2023-06-3003863280ns5:DeferredTaxation2023-06-3003863280ns5:DeferredTaxation2023-07-012024-06-3003863280ns5:DeferredTaxation2024-06-3003863280ns10:OrdinaryShareClass12024-06-30038632801ns10:Director12023-06-30038632801ns10:Director12022-06-30038632801ns10:Director12023-07-012024-06-30038632801ns10:Director12022-07-012023-06-30038632801ns10:Director12024-06-30038632801ns10:Director12023-06-3003863280ns10:Director222023-06-3003863280ns10:Director222022-06-3003863280ns10:Director222023-07-012024-06-3003863280ns10:Director222022-07-012023-06-3003863280ns10:Director222024-06-3003863280ns10:Director222023-06-30
REGISTERED NUMBER: 03863280 (England and Wales)














Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30th June 2024

for

Transwaste Recycling and Aggregates
Limited

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)






Contents of the Financial Statements
for the year ended 30th June 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 16


Transwaste Recycling and Aggregates
Limited

Company Information
for the year ended 30th June 2024







DIRECTORS: P A Hornshaw
M Hornshaw
M R Kemish



SECRETARY: P A Hornshaw



REGISTERED OFFICE: Melton Waste Park
Gibson Lane
Melton
East Yorkshire
HU14 3HH



REGISTERED NUMBER: 03863280 (England and Wales)



AUDITORS: Sadofskys
Statutory Auditors
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: HSBC Bank Plc
239 Hessle Road
Hull
East Yorkshire
HU3 4BD

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Strategic Report
for the year ended 30th June 2024

The directors present their strategic report for the year ended 30th June 2024.

REVIEW OF BUSINESS
2024 2023 2022 2021
Turnover 38,333,179 34,767,634 33,282,576 33,619,268
Turnover growth 10.3% 4.5% (1.0%) 12.8%
GP Margin 23.3% 31.8% 31.6% 28.6%
Profit/(loss) before tax (3,387,297) 2,337,720 2,776,089 3,358,938


Turnover levels increased slightly throughout this accounting period. This was inline with expectations forecasted at the start of the financial year.

The directors are hopeful that with the Fleetwood site coming onstream in Q2 of 2024/25, this will greatly improve the gross profit margin and overall profit for the company.

The company will continue with its policy of investing in efficient processes for treating waste.

PRINCIPAL RISKS AND UNCERTAINTIES
The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and finance the company's operations.

Price risk
The company is a waste processor and involved in the recycling and sale of aggregates. The prices of waste and aggregates are based/reduced on account of pricing pressure and competition. This risk is managed by monitoring the market continuously.

Foreign exchange risk
The company purchases some products in foreign currencies. The risk is mitigated by monitoring foreign exchange rates on a daily basis.

Credit risk
Credit checks are carried out on all customers. Amounts outstanding for both time and credit limits are regularly monitored. The company does experience bad debts but believes they have systems in place to mitigate these risks.

Liquidity risk
The company's liquidity risk is managed by ensuring sufficient funds are available to meet amounts due and does not consider that liquidity poses a significant risk.

Interest rate and cash flow risk
The company had a favourable cash balance during the year and therefore does not consider that interest rates or cash flow pose a significant risk.


Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Strategic Report
for the year ended 30th June 2024

FUTURE DEVELOPMENTS
The company continues to upgrade its facility by investing in new technology with a focus on environmentally friendly improvements.

Moving forward the company will explore how to place less reliance on generators to reduce energy costs and improve the company's carbon footprint further.

ON BEHALF OF THE BOARD:




P A Hornshaw - Secretary


16th January 2025

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Report of the Directors
for the year ended 30th June 2024

The directors present their report with the financial statements of the company for the year ended 30th June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of recycling and sale of aggregates and treatment of wastes.

DIVIDENDS
No dividends will be distributed for the year ended 30th June 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st July 2023 to the date of this report.

P A Hornshaw
M Hornshaw
M R Kemish

FINANCIAL INSTRUMENTS
The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and finance the company's operations.

Revenue Maintenance
The company actively markets and manages its portfolio of products to focus on revenue building and maintenance which, over the life cycle of the products can contribute to the future profits of the business.

Risks and uncertainties
These details have been provided in the company's strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Report of the Directors
for the year ended 30th June 2024


AUDITORS
The auditors, Sadofskys, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



P A Hornshaw - Secretary


16th January 2025

Report of the Independent Auditors to the Members of
Transwaste Recycling and Aggregates
Limited

Opinion
We have audited the financial statements of Transwaste Recycling and Aggregates Limited (the 'company') for the year ended 30th June 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30th June 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Transwaste Recycling and Aggregates
Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Transwaste Recycling and Aggregates
Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the recycling and treatment of waste.
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation.
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in [note 2] were indicative of potential bias;
- investigated the rationale behind significant or unusual transactions;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims;
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Transwaste Recycling and Aggregates
Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Alan Brocklehurst (Senior Statutory Auditor)
for and on behalf of Sadofskys
Statutory Auditors
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX

16th January 2025

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Statement of Comprehensive
Income
for the year ended 30th June 2024

2024 2023
Notes £    £   

TURNOVER 38,333,179 34,767,634

Cost of sales 29,403,374 23,727,731
GROSS PROFIT 8,929,805 11,039,903

Administrative expenses 12,208,569 8,643,441
(3,278,764 ) 2,396,462

Other operating income 49,643 54,542
OPERATING (LOSS)/PROFIT 4 (3,229,121 ) 2,451,004

Interest receivable and similar income 179,260 76,467
(3,049,861 ) 2,527,471
Amounts written off investments 5 - 50
(3,049,861 ) 2,527,421

Interest payable and similar expenses 6 337,436 189,701
(LOSS)/PROFIT BEFORE TAXATION (3,387,297 ) 2,337,720

Tax on (loss)/profit 7 (205,307 ) 432,364
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(3,181,990

)

1,905,356

OTHER COMPREHENSIVE INCOME

Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

-

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(3,181,990

)

1,905,356

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 26,276 20,347
Tangible assets 10 12,512,548 7,088,537
12,538,824 7,108,884

CURRENT ASSETS
Stocks 11 211,001 166,543
Debtors 12 25,319,389 18,160,778
Cash at bank and in hand 346,226 4,296,753
25,876,616 22,624,074
CREDITORS
Amounts falling due within one year 13 19,320,402 9,169,483
NET CURRENT ASSETS 6,556,214 13,454,591
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,095,038

20,563,475

CREDITORS
Amounts falling due after more than one
year

14

(2,794,119

)

(1,244,692

)

PROVISIONS FOR LIABILITIES 18 (804,906 ) (640,780 )
NET ASSETS 15,496,013 18,678,003

CAPITAL AND RESERVES
Called up share capital 19 2,000 2,000
Revaluation reserve 17,056 17,056
Retained earnings 15,476,957 18,658,947
SHAREHOLDERS' FUNDS 15,496,013 18,678,003

The financial statements were approved by the Board of Directors and authorised for issue on 16th January 2025 and were signed on its behalf by:




P A Hornshaw - Director



M Hornshaw - Director


Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Statement of Changes in Equity
for the year ended 30th June 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1st July 2022 2,000 16,753,591 17,056 16,772,647

Changes in equity
Total comprehensive income - 1,905,356 - 1,905,356
Balance at 30th June 2023 2,000 18,658,947 17,056 18,678,003

Changes in equity
Total comprehensive income - (3,181,990 ) - (3,181,990 )
Balance at 30th June 2024 2,000 15,476,957 17,056 15,496,013

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Cash Flow Statement
for the year ended 30th June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 552,937 235,212
Interest paid (220,931 ) (57,853 )
Interest element of hire purchase payments
paid

(116,505

)

(131,848

)
Tax paid (312,182 ) (310,293 )
Net cash from operating activities (96,681 ) (264,782 )

Cash flows from investing activities
Purchase of intangible fixed assets (18,538 ) -
Purchase of tangible fixed assets (3,874,345 ) (1,457,022 )
Sale of tangible fixed assets 149,785 115,100
Sale of fixed asset investments - 50
Interest received 179,260 76,467
Net cash from investing activities (3,563,838 ) (1,265,405 )

Cash flows from financing activities
New loans in year 6,505,900 -
Loan repayments in year (233,860 ) (169,452 )
Intercompany loans made (7,420,572 ) -
Capital repayments in year (2,065,887 ) (1,067,276 )
Amount introduced by directors 3,579,882 803,771
Amount withdrawn by directors (856,414 ) -
s455 tax 200,943 -
Net cash from financing activities (290,008 ) (432,957 )

Decrease in cash and cash equivalents (3,950,527 ) (1,963,144 )
Cash and cash equivalents at beginning of
year

2

4,296,753

6,259,897

Cash and cash equivalents at end of year 2 346,226 4,296,753

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Cash Flow Statement
for the year ended 30th June 2024

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
(Loss)/profit before taxation (3,387,297 ) 2,337,720
Depreciation charges 2,339,784 1,841,748
Profit on disposal of fixed assets (48,107 ) (94,268 )
Finance costs 337,436 189,701
Finance income (179,260 ) (76,467 )
(937,444 ) 4,198,434
Increase in stocks (44,458 ) (166,543 )
Increase in trade and other debtors (883,506 ) (5,869,350 )
Increase in trade and other creditors 2,418,345 2,072,671
Cash generated from operations 552,937 235,212

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30th June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 346,226 4,296,753
Year ended 30th June 2023
30/6/23 1/7/22
£    £   
Cash and cash equivalents 4,296,753 6,259,897


Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Cash Flow Statement
for the year ended 30th June 2024

3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

Other
non-cash
At 1/7/23 Cash flow changes At 30/6/24
£    £    £    £   
Net cash
Cash at bank
and in hand 4,296,753 (3,950,527 ) 346,226
4,296,753 (3,950,527 ) 346,226
Debt
Finance leases (2,068,075 ) 2,065,887 (3,975,156 ) (3,977,344 )
Debts falling due
within 1 year (187,444 ) (116,301 ) - (303,745 )
Debts falling due
after 1 year (314,516 ) 44,261 - (270,255 )
(2,570,035 ) 1,993,847 (3,975,156 ) (4,551,344 )
Total 1,726,718 (1,956,680 ) (3,975,156 ) (4,205,118 )

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements
for the year ended 30th June 2024

1. STATUTORY INFORMATION

Transwaste Recycling and Aggregates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The directors believe that the company is well placed to manage its business risks successfully despite the uncertain economic outlook.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Further information regarding the company's business activities, together with the factors likely to affect its future development, performance and position is set out in the Strategic Report.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue recognition
Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company receives a right to consideration from its performance.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

The useful life of four years has been chosen by the directors based on their industry knowledge due to the nature of the assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - straight line over the life of the lease
Improvements to property - 4% on cost, straight line over 10 years and straight line over the life of the lease
Plant and machinery - 4-10 years
Fixtures and fittings - 25% on cost

Freehold land is not depreciated but is subject to impairment reviews, along with all other tangible assets, in accordance with the company's accounting policy on impairment.

Investments in associates
Investments in associate undertakings are recognised at cost.

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial assets, financial liabilities and equity
Financial assets are initially measured at transaction price (including transaction costs) and subsequently held at amortised cost less any impairment.

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. Financial liabilities, excluding convertible debt and derivatives, are initially measured at transaction price (after deducting transaction costs) and subsequently held at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 4,359,802 3,533,461
Social security costs 373,782 309,013
Other pension costs 69,831 57,671
4,803,415 3,900,145

The average number of employees during the year was as follows:
2024 2023

Direct workforce 69 59
Administration 18 18
87 77

2024 2023
£    £   
Directors' remuneration 49,636 47,385

4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

2024 2023
£    £   
Plant hire 2,137,337 2,075,647
Depreciation - owned assets 1,105,397 661,343
Depreciation - assets on hire purchase contracts 1,221,778 1,167,796
Profit on disposal of fixed assets (48,107 ) (94,268 )
Computer software amortisation 12,609 12,609
Exchange rate (gains)/losses - 3,417

5. AMOUNTS WRITTEN OFF INVESTMENTS
2024 2023
£    £   
Amounts written off investments - 50

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 1,963 110
Bank loan interest 180,324 54,778
Corporation tax interest 38,644 2,965
Hire purchase interest 116,505 131,848
337,436 189,701

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

7. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax (369,433 ) 466,952

Deferred taxation 164,126 (34,588 )
Tax on (loss)/profit (205,307 ) 432,364

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
(Loss)/profit before tax (3,387,297 ) 2,337,720
(Loss)/profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 20.496%)

(846,824

)

479,139

Effects of:
Expenses not deductible for tax purposes 338,073 14,474
Capital allowances in excess of depreciation - (31,350 )
Utilisation of tax losses 102,616 -
Adjustments to tax charge in respect of previous periods - (68,390 )
Depreciation on non-qualifying assets 123,091 32,401
Changes to applicable tax rates - 6,090
Waste disposal site preparation tax relief (19,782 ) -
Tax payable on adjustments 97,519 -
Total tax (credit)/charge (205,307 ) 432,364

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Revaluation of assets

8. AUDITORS' REMUNERATION

2024 2023
£ £
Fees payable to the company's auditor for the audit of the company's
financial statements

12,500

11,750

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

9. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1st July 2023 50,428
Additions 18,538
At 30th June 2024 68,966
AMORTISATION
At 1st July 2023 30,081
Amortisation for year 12,609
At 30th June 2024 42,690
NET BOOK VALUE
At 30th June 2024 26,276
At 30th June 2023 20,347

10. TANGIBLE FIXED ASSETS
Improvements
Freehold Short to
property leasehold property
£    £    £   
COST OR VALUATION
At 1st July 2023 350,000 - 4,764,494
Additions - 1,262,000 1,972,838
Disposals - - (49,285 )
Reclassification/transfer - 250,000 (250,000 )
At 30th June 2024 350,000 1,512,000 6,438,047
DEPRECIATION
At 1st July 2023 - - 2,133,807
Charge for year - 266,824 424,414
Eliminated on disposal - - -
At 30th June 2024 - 266,824 2,558,221
NET BOOK VALUE
At 30th June 2024 350,000 1,245,176 3,879,826
At 30th June 2023 350,000 - 2,630,687

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

10. TANGIBLE FIXED ASSETS - continued

Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST OR VALUATION
At 1st July 2023 12,749,557 153,417 18,017,468
Additions 4,610,219 7,807 7,852,864
Disposals (496,515 ) - (545,800 )
Reclassification/transfer - - -
At 30th June 2024 16,863,261 161,224 25,324,532
DEPRECIATION
At 1st July 2023 8,711,775 83,349 10,928,931
Charge for year 1,602,274 33,663 2,327,175
Eliminated on disposal (444,122 ) - (444,122 )
At 30th June 2024 9,869,927 117,012 12,811,984
NET BOOK VALUE
At 30th June 2024 6,993,334 44,212 12,512,548
At 30th June 2023 4,037,782 70,068 7,088,537

Cost or valuation at 30th June 2024 is represented by:

Improvements
Freehold Short to
property leasehold property
£    £    £   
Valuation in 2022 22,741 - -
Cost 327,259 1,512,000 6,438,047
350,000 1,512,000 6,438,047

Fixtures
Plant and and
machinery fittings Totals
£    £    £   
Valuation in 2022 - - 22,741
Cost 16,863,261 161,224 25,301,791
16,863,261 161,224 25,324,532

The directors are of the opinion that the current property values show a true and fair view of the value of the property.

The net book value of tangible fixed assets includes £ 5,244,485 (2023 - £ 3,482,748 ) in respect of assets held under hire purchase contracts.

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

11. STOCKS
2024 2023
£    £   
Stocks 211,001 166,543

12. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 10,086,229 8,206,970
Other debtors 13,886,540 6,802,088
Directors' current accounts - 1,439,346
Taxation 466,952 -
Prepayments and accrued income 684,668 679,374
25,124,389 17,127,778

Amounts falling due after more than one year:
Other debtors 195,000 1,033,000

Aggregate amounts 25,319,389 18,160,778

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 303,745 187,444
Hire purchase contracts (see note 16) 1,453,480 1,137,899
Trade creditors 8,642,194 6,118,201
Taxation 252,824 467,487
Social security and other taxes 106,793 671,602
Other creditors 6,695,890 42,593
Directors' current accounts 1,284,122 -
Accruals and deferred income 581,354 544,257
19,320,402 9,169,483

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) 270,255 314,516
Hire purchase contracts (see note 16) 2,523,864 930,176
2,794,119 1,244,692

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 303,745 187,444

Amounts falling due between one and two years:
Bank loans - 1-2 years 214,703 205,434

Amounts falling due between two and five years:
Bank loans - 2-5 years 55,552 109,082

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 1,453,480 1,137,899
Between one and five years 2,523,864 930,176
3,977,344 2,068,075

Non-cancellable operating leases
2024 2023
£    £   
Within one year 18,894 19,230
Between one and five years 4,013 16,218
22,907 35,448

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 574,000 501,960
Hire purchase contracts 3,977,344 2,068,075
4,551,344 2,570,035

The bank overdraft facilities and bank loans are secured by a fixed and floating charge over the assets of the company.

Hire purchase contracts are secured against the specific asset.

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 799,221 635,095
Other timing differences 5,685 5,685
804,906 640,780

Deferred
tax
£   
Balance at 1st July 2023 640,780
Charge to Statement of Comprehensive Income during year 164,126
Charge to reserves during year
Balance at 30th June 2024 804,906

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £1 2,000 2,000

Ordinary Shares
Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held.

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30th June 2024 and 30th June 2023:

2024 2023
£    £   
P A Hornshaw
Balance outstanding at start of year 698,619 1,224,654
Amounts advanced 428,926 337,195
Amounts repaid (1,680,265 ) (863,230 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (552,720 ) 698,619

M Hornshaw
Balance outstanding at start of year 740,727 1,018,463
Amounts advanced 427,487 197,341
Amounts repaid (1,899,617 ) (475,077 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (731,403 ) 740,727

Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

21. RELATED PARTY DISCLOSURES

P Hornshaw, M Hornshaw and M Kemish are the sole directors of Transwaste Services Limited.
2024 2023
£    £   
Management fees received 9,000 9,000
Motor recharges received 385,690 225,986
Purchases recharges received 16,619 6,063
Insurance recharges received 33,174 31,139

Management fees paid 100,800 100,800
Hire and haulage charges paid 5,005,080 4,882,321
Motor charges paid 55,446 28,057
Insurance expenses paid 13,860 Nil
Sundry charges paid Nil 612
Legal and professional fees paid 906,127 Nil

Amounts receivable at the balance sheet date 704,199 1,164,229
Amounts payable at the balance sheet date 945,450 627,538

P Hornshaw and M Hornshaw are the sole directors of Humber Properties Limited.
2024 2023
£    £   
Purchases recharges received 1,284 2,853
Management fees received 5,400 5,400
Site renewals/repair fees received 1,352 2,748

Rents paid 240,000 240,000
Light and heat costs paid 1,010,228 427,366

Amounts receivable at the balance sheet date 839,620 844,459
Amounts payable at the balance sheet date 956,312 412,839

P Hornshaw and M Hornshaw have full control over Wauldby Associates Limited.
2024 2023
£    £   
Purchase recharges received 164,102 130,297
Wages recharges received Nil 1,777
Management fees received 12,000 12,000

Management fees paid 96,000 96,000
Hire charges paid 1,481,340 1,298,250

Amounts receivable at the balance sheet date Nil Nil
Amounts payable at the balance sheet date 454,962 267,439

P Hornshaw and M Hornshaw indirectly control 50% of the share capital of City Plant Limited
2024 2023
£    £   
Purchases paid Nil 20,053
Amounts receivable at the balance sheet date 294,219 294,219
Amounts payable at the balance sheet date Nil Nil


Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

A Hornshaw (brother to P Hornshaw and M Hornshaw) is the sole director of Caird Peckfield Ltd, a company wholly owned by Seneca Global Energy Limited.
2024 2023
£    £   
Expenses recharges received 13,156 Nil
Motor recharges received 31,532 Nil

Waste processing costs paid 121,730 616,430

Amounts receivable at the balance sheet date 19,139 Nil
Amounts payable at the balance sheet date 1,908 10,944

P Hornshaw and M Hornshaw indirectly control 50% of the share capital of Seneca Global Energy Limited, a company owned 50% by Wauldby Associates Limited and 50% by Seneca Investments and Developments Limited.
2024 2023
£    £   
Recharges received 9,760 9,760
Loan interest paid 133,334 Nil

Amounts receivable at the balance sheet date 2,010 765
Amounts payable at the balance sheet date 6,000,000 Nil

M Hornshaw is a director of International Waste Trading FZCO.
2024 2023
£    £   
Waste removal costs paid 1,995,535 2,661,567

Amounts payable at the balance sheet date 208,728 358,421

M Kemish is the sole director of Biowood Services Limited.
2024 2023
£    £   
Management fees received 6,000 6,000
Wages recharges received 30,704 2,665
Recharges received 60,928 42,786

Purchases paid 771,422 1,218,507

Amounts receivable at the balance sheet date 806 Nil
Amounts payable at the balance sheet date 1,229,470 767,857

M Kemish has common directorship of Melton Energy Tech Limited.
2024 2023
£    £   
Construction recharges received 481,418 1,042,173
Legal fees recharges received 335,349 150,786
Loan interest recharges received 143,536 Nil

Amounts receivable at the balance sheet date 14,506,955 6,102,559


Transwaste Recycling and Aggregates
Limited (Registered number: 03863280)

Notes to the Financial Statements - continued
for the year ended 30th June 2024

A Hornshaw (brother to P Hornshaw and M Hornshaw) controls 50% of the shareholding of HR Recycling Limited.
2024 2023
£    £   
Management charges received 3,600 3,600
Hire of equipment recharges received 555 1,161

Hire Charges Paid 919,405 743,538

Amounts receivable at the balance sheet date 1,042 887,
Amounts payable at the balance sheet date 71,652 59,358

P Hornshaw and M Hornshaw are equal partners alongside C Hornshaw (mother to P Hornshaw and M Hornshaw) in Hornshaw Properties partnership.
2024 2023
£    £   
Amounts payable at the balance sheet date 400,000 Nil