41 01/11/2023 31/10/2024 2024-10-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-11-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC712361 2023-11-01 2024-10-31 SC712361 2024-10-31 SC712361 2023-10-31 SC712361 2022-11-01 2023-10-31 SC712361 2023-10-31 SC712361 2022-10-31 SC712361 core:PlantMachinery 2023-11-01 2024-10-31 SC712361 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 SC712361 core:MotorVehicles 2023-11-01 2024-10-31 SC712361 bus:RegisteredOffice 2023-11-01 2024-10-31 SC712361 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 SC712361 bus:LeadAgentIfApplicable 2023-11-01 2024-10-31 SC712361 bus:Director1 2023-11-01 2024-10-31 SC712361 bus:Director2 2023-11-01 2024-10-31 SC712361 bus:Director3 2023-11-01 2024-10-31 SC712361 core:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 SC712361 core:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 SC712361 core:WithinOneYear 2024-10-31 SC712361 core:WithinOneYear 2023-10-31 SC712361 core:AfterOneYear 2024-10-31 SC712361 core:AfterOneYear 2023-10-31 SC712361 core:ShareCapital 2024-10-31 SC712361 core:ShareCapital 2023-10-31 SC712361 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC712361 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC712361 core:ShareCapital 2022-10-31 SC712361 core:RetainedEarningsAccumulatedLosses 2022-10-31 SC712361 core:PreviouslyStatedAmount core:ShareCapital 2024-10-31 SC712361 bus:OrdinaryShareClass1 core:ShareCapital 2024-10-31 SC712361 bus:OrdinaryShareClass1 core:ShareCapital 2023-10-31 SC712361 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2024-10-31 SC712361 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-10-31 SC712361 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-10-31 SC712361 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-10-31 SC712361 bus:SmallEntities 2023-11-01 2024-10-31 SC712361 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC712361 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC712361 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC712361 bus:AbridgedAccounts 2023-11-01 2024-10-31
Company registration number: SC712361
Landfill Services (Fife) Limited
Unaudited filleted abridged financial statements
31 October 2024
Landfill Services (Fife) Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Landfill Services (Fife) Limited
Directors and other information
Directors Shirley Brown
David Robb
Sharon Robb
Company number SC712361
Registered office 18-20 North Street
Glenrothes
Fife
KY7 5NA
Accountants Paterson Boyd & Co
18 North Street
Glenrothes
Fife
KY7 5NA
Bankers Virgin Money
64 High St
Dunfermline
Fife
KY12 7DF
Landfill Services (Fife) Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Landfill Services (Fife) Limited
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Landfill Services (Fife) Limited for the year ended 31 October 2024 which comprise the abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of ICAS , we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the board of directors of Landfill Services (Fife) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Landfill Services (Fife) Limited and state those matters that we have agreed to state to the board of directors of Landfill Services (Fife) Limited as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Landfill Services (Fife) Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Landfill Services (Fife) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Landfill Services (Fife) Limited. You consider that Landfill Services (Fife) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Landfill Services (Fife) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Paterson Boyd & Co
Chartered Certified Accountants
18 North Street
Glenrothes
Fife
KY7 5NA
25 April 2025
Landfill Services (Fife) Limited
Abridged statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 1,752,431 2,423,084
_______ _______
1,752,431 2,423,084
Current assets
Stocks 4,350 28,174
Debtors 596,447 565,329
Cash at bank and in hand 527,311 784,797
_______ _______
1,128,108 1,378,300
Creditors: amounts falling due
within one year ( 882,960) ( 761,346)
_______ _______
Net current assets 245,148 616,954
_______ _______
Total assets less current liabilities 1,997,579 3,040,038
Creditors: amounts falling due
after more than one year ( 1,207,893) ( 2,602,846)
Provisions for liabilities ( 426,933) ( 428,109)
_______ _______
Net assets 362,753 9,083
_______ _______
Capital and reserves
Called up share capital 7 100 100
Profit and loss account 362,653 8,983
_______ _______
Shareholders funds 362,753 9,083
_______ _______
For the year ending 31 October 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.
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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 25 April 2025 , and are signed on behalf of the board by:
Shirley Brown
Director
Company registration number: SC712361
Landfill Services (Fife) Limited
Statement of changes in equity
Year ended 31 October 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 August 2022 100 108,107 108,207
Profit/(loss) for the year ( 99,124) ( 99,124)
_______ _______ _______
Total comprehensive income for the year - ( 99,124) ( 99,124)
_______ _______ _______
At 31 October 2023 and 1 November 2023 100 8,983 9,083
Profit/(loss) for the year 353,670 353,670
_______ _______ _______
Total comprehensive income for the year - 353,670 353,670
_______ _______ _______
At 31 October 2024 100 362,653 362,753
_______ _______ _______
Landfill Services (Fife) Limited
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 18-20 North Street, Glenrothes, Fife, KY7 5NA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts is recorded at the fair value at the date of revaluation less any subseqeunt accumulated depreciation and subsequent accumulated 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:
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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 stocks to their present location and condition.
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.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 41 (2023: 42 ).
5. Directors remuneration
The directors aggregate remuneration in respect of qualifying services was:
2024 2023
£ £
Remuneration 99,770 73,912
_______ _______
6. Tangible assets
£
Cost
At 1 November 2023 3,111,484
Additions 167,662
Disposals ( 531,021)
_______
At 31 October 2024 2,748,125
_______
Depreciation
At 1 November 2023 688,400
Charge for the year 435,989
Disposals ( 128,695)
_______
At 31 October 2024 995,694
_______
Carrying amount
At 31 October 2024 1,752,431
_______
At 31 October 2023 2,423,084
_______
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery Motor vehicles
£ £
At 31 October 2024 295,429 52,052
_______ _______
At 31 October 2023 369,286 84,019
_______ _______
7. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
8. Related party transactions
Included in other creditors is an amount of £1,198,597 (PY £2,486,443) due to the directors of the company. The loan is interest free and has no fixed terms of repayment.