Company Registration No. 08952064 (England and Wales)
Lili Waste Services Ltd
Unaudited accounts
for the year ended 30 September 2024
Lili Waste Services Ltd
Unaudited accounts
Contents
Lili Waste Services Ltd
Company Information
for the year ended 30 September 2024
Company Number
08952064 (England and Wales)
Registered Office
Unit 1, Ronnies Wharf
6 Lyons Crescent,
Tonbridge
Kent
TN9 1EX
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Lili Waste Services Ltd
Statement of financial position
as at 30 September 2024
Intangible assets
355,411
81,512
Tangible assets
2,352,647
2,563,021
Debtors
2,115,911
1,857,309
Cash at bank and in hand
262,572
324,435
Creditors: amounts falling due within one year
(2,165,643)
(2,043,909)
Net current assets
212,840
137,835
Total assets less current liabilities
2,920,898
2,782,368
Creditors: amounts falling due after more than one year
(1,062,383)
(993,027)
Provisions for liabilities
Deferred tax
(512,295)
(467,172)
Net assets
1,346,220
1,322,169
Called up share capital
1,006
1,006
Share premium
11,691
11,691
Revaluation reserve
102,099
160,099
Capital redemption reserve
3
3
Profit and loss account
1,231,421
1,149,370
Shareholders' funds
1,346,220
1,322,169
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 April 2025 and were signed on its behalf by
Mr M Miles
Director
Company Registration No. 08952064
Lili Waste Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
Lili Waste Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 08952064. The registered office is Unit 1, Ronnies Wharf, 6 Lyons Crescent,, Tonbridge, Kent, TN9 1EX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
7.5% - 15% reducing balance
Motor vehicles
15% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Intangible assets acquired separately from a business are recognized at cost and are subsequently measured at cost less accumulate amortization impairment losses. Intangible assets acquired on business combinations are recognized separately from goodwill at the acquisition date if the fair value can be measured reliably .
Amortization is recognized so as to write off the cost or valuation of assets less their residual value over their useful economic lives on the following basis:
Trade Waste Rounds - 5 & 6 Years Straight Line Amortization
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Lili Waste Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Other
At 30 September 2024
707,925
Charge for the year
95,457
At 30 September 2024
352,514
At 30 September 2024
355,411
At 30 September 2023
81,512
Lili Waste Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 October 2023
1,228,052
3,004,646
22,035
82,344
4,337,077
Additions
231,876
243,216
1,800
15,291
492,183
Disposals
(8,654)
(379,898)
(2,821)
(30,479)
(421,852)
At 30 September 2024
1,451,274
2,867,964
21,014
67,156
4,407,408
At 1 October 2023
529,216
1,179,376
13,503
51,961
1,774,056
Charge for the year
128,845
441,584
1,870
8,661
580,960
On disposals
(4,329)
(268,283)
(1,484)
(26,159)
(300,255)
At 30 September 2024
653,732
1,352,677
13,889
34,463
2,054,761
At 30 September 2024
797,542
1,515,287
7,125
32,693
2,352,647
At 30 September 2023
698,836
1,825,270
8,532
30,383
2,563,021
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
-
112,509
- Motor vehicles
710,015
1,020,565
Amounts falling due within one year
Trade debtors
1,952,736
1,789,932
Accrued income and prepayments
80,050
49,791
Other debtors
83,125
17,586
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
215,534
110,257
Obligations under finance leases and hire purchase contracts
267,181
346,553
Trade creditors
601,722
413,845
Taxes and social security
172,321
199,399
Other creditors
169,672
171,511
Deferred income
700,296
614,459
The bank loans and overdrafts are secured.
Lili Waste Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
336,694
194,507
Obligations under finance leases and hire purchase contracts
475,689
548,520
Other creditors
250,000
250,000
Other creditors includes £250,000 (2023 £250,000) due to the director of the company.
Allotted, called up and fully paid:
1,006 Ordinary shares of £1 each
1,006
1,006
10
Transactions with related parties
As At 30/09/2024, Lili Waste Serviced Ltd, is owed £337,293 by Ciney Investments Ltd.
11
Average number of employees
During the year the average number of employees was 48 (2023: 52).