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COMPANY REGISTRATION NUMBER: 04611731
D & M Recycling and Waste Management Ltd
Filleted Unaudited Financial Statements
30 November 2024
D & M Recycling and Waste Management Ltd
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
146,005
260,130
Current assets
Stocks
1,808
3,191
Debtors
6
61,670
74,036
Cash at bank and in hand
42,546
67,524
---------
---------
106,024
144,751
Creditors: amounts falling due within one year
7
134,825
221,512
---------
---------
Net current liabilities
28,801
76,761
---------
---------
Total assets less current liabilities
117,204
183,369
Creditors: amounts falling due after more than one year
8
46,683
Provisions
Taxation including deferred tax
25,750
47,291
---------
---------
Net assets
91,454
89,395
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
90,454
88,395
--------
--------
Shareholders funds
91,454
89,395
--------
--------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 November 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 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 financial statements .
D & M Recycling and Waste Management Ltd
Statement of Financial Position (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 14 April 2025 , and are signed on behalf of the board by:
Mr M Enright
Mr D Enright
Director
Director
Company registration number: 04611731
D & M Recycling and Waste Management Ltd
Notes to the Financial Statements
Year ended 30 November 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 5 Minton Place, Victoria Road, Bicester, Oxon, OX26 6QB.
2. Statement of compliance
These 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.The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Deferred tax is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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 improvements
-
10% straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor Vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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 5 (2023: 8 ).
5. Tangible assets
Leasehold improvements
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2023
40,796
622,258
58,024
370,372
1,091,450
Additions
792
5,337
6,129
Disposals
( 47,718)
( 304,428)
( 352,146)
--------
---------
--------
---------
------------
At 30 November 2024
40,796
575,332
63,361
65,944
745,433
--------
---------
--------
---------
------------
Depreciation
At 1 December 2023
26,240
462,238
46,944
295,898
831,320
Charge for the year
4,080
43,380
2,991
19,046
69,497
Disposals
( 47,435)
( 253,954)
( 301,389)
--------
---------
--------
---------
------------
At 30 November 2024
30,320
458,183
49,935
60,990
599,428
--------
---------
--------
---------
------------
Carrying amount
At 30 November 2024
10,476
117,149
13,426
4,954
146,005
--------
---------
--------
---------
------------
At 30 November 2023
14,556
160,020
11,080
74,474
260,130
--------
---------
--------
---------
------------
6. Debtors
2024
2023
£
£
Trade debtors
43,629
57,252
Other debtors
18,041
16,784
--------
--------
61,670
74,036
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
35,908
39,854
Trade creditors
15,054
82,477
Corporation tax
23,194
9,413
Social security and other taxes
36,014
33,603
Other creditors
24,655
56,165
---------
---------
134,825
221,512
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
35,908
Other creditors
10,775
----
--------
46,683
----
--------