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Leigh-On-Sea Skip Hire Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Clouders (Audit & Accounts) Ltd
Chartered Certified Accountants
Charter House, 103-105 Leigh Road
Leigh-On-Sea
SS9 1JL
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report 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 directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 August 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
Signed
08/05/2025
Clouders (Audit & Accounts) Ltd
Chartered Certified Accountants
Charter House, 103-105 Leigh Road
Leigh-On-Sea
SS9 1JL
Page 1
Page 2
Balance Sheet
Registered number: 10911041
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 87,938 113,457
87,938 113,457
CURRENT ASSETS
Debtors 5 17,198 30,309
Cash at bank and in hand 6,259 7,113
23,457 37,422
Creditors: Amounts Falling Due Within One Year 6 (121,407 ) (116,430 )
NET CURRENT ASSETS (LIABILITIES) (97,950 ) (79,008 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,012 ) 34,449
Creditors: Amounts Falling Due After More Than One Year 7 (26,392 ) (56,856 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19,155 ) (21,946 )
NET LIABILITIES (55,559 ) (44,353 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (55,659 ) (44,453 )
SHAREHOLDERS' FUNDS (55,559) (44,353)
Page 2
Page 3
For the year ending 31 August 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A M Stone
Director
M C Stone
Director
R S Stone
Director
08/05/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Leigh-On-Sea Skip Hire Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10911041 . The registered office is Unit 8 Harvey Road, Burnt Mills Industrial Estate, Basildon, SS13 1EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been drawn up on the going concern basis as the company's directors have agreed to continue to support the compnay for at least one year from the balance sheet date.
If the going concern basis was not appropriate, adjustments would have to be made to reduce the value of the assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 7)
8 7
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 134,583 78,493 5,754 218,830
Additions 3,186 - - 3,186
As at 31 August 2024 137,769 78,493 5,754 222,016
...CONTINUED
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Depreciation
As at 1 September 2023 75,969 26,476 2,928 105,373
Provided during the period 14,993 13,005 707 28,705
As at 31 August 2024 90,962 39,481 3,635 134,078
Net Book Value
As at 31 August 2024 46,807 39,012 2,119 87,938
As at 1 September 2023 58,614 52,017 2,826 113,457
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 7,783 17,724
Motor Vehicles 36,429 48,573
Computer Equipment 776 1,646
44,988 67,943
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,198 30,309
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,865 22,248
Trade creditors 11,074 16,063
Bank loans and overdrafts 10,000 14,754
Other loans 3,600 3,600
Corporation tax 17,316 10,828
Other taxes and social security 1,816 1,051
VAT 18,682 16,384
Net wages 193 2,088
Pension control 227 86
Barclaycard 21,880 17,071
Accrued expenses 2,151 1,821
Directors' loan accounts 17,603 10,436
121,407 116,430
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,192 30,056
Bank loans 7,500 17,500
Other loans 5,700 9,300
26,392 56,856
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 50,000 56,000
10. Related Party Transactions
The business maintained a loan account with Reds Skips Limtied. At 31st August 2024 the balance outstanding was £9,300 (2023 £12,900). A director of Leigh-On-Sea Skip Hire Limited is also a director of Reds Skips Limited.
11. Ultimate Controlling Party
The company is controlled by the directors
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