Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-032025-05-292025-05-292025-05-29truefalse4truetrue2023-05-014truefalsefalse 06612611 2023-05-01 2024-04-30 06612611 2022-05-01 2023-04-30 06612611 2024-04-30 06612611 2023-04-30 06612611 2022-05-01 06612611 c:CompanySecretary1 2023-05-01 2024-04-30 06612611 c:Director1 2023-05-01 2024-04-30 06612611 c:Director2 2023-05-01 2024-04-30 06612611 c:Director3 2023-05-01 2024-04-30 06612611 c:Director4 2023-05-01 2024-04-30 06612611 c:Director5 2023-05-01 2024-04-30 06612611 c:Director6 2023-05-01 2024-04-30 06612611 c:Director7 2023-05-01 2024-04-30 06612611 c:Director7 2024-04-30 06612611 c:Director8 2023-05-01 2024-04-30 06612611 c:Director9 2023-05-01 2024-04-30 06612611 c:Director9 2024-04-30 06612611 c:Director10 2023-05-01 2024-04-30 06612611 c:Director10 2024-04-30 06612611 c:Director11 2023-05-01 2024-04-30 06612611 c:Director11 2024-04-30 06612611 c:Director12 2023-05-01 2024-04-30 06612611 c:Director12 2024-04-30 06612611 c:Director13 2023-05-01 2024-04-30 06612611 c:Director13 2024-04-30 06612611 c:Director14 2023-05-01 2024-04-30 06612611 c:RegisteredOffice 2023-05-01 2024-04-30 06612611 d:Buildings 2023-05-01 2024-04-30 06612611 d:Buildings 2024-04-30 06612611 d:Buildings 2023-04-30 06612611 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06612611 d:PlantMachinery 2023-05-01 2024-04-30 06612611 d:PlantMachinery 2024-04-30 06612611 d:PlantMachinery 2023-04-30 06612611 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06612611 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06612611 d:CurrentFinancialInstruments 2024-04-30 06612611 d:CurrentFinancialInstruments 2023-04-30 06612611 d:Non-currentFinancialInstruments 2024-04-30 06612611 d:Non-currentFinancialInstruments 2023-04-30 06612611 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06612611 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06612611 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 06612611 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 06612611 d:ShareCapital 2023-05-01 2024-04-30 06612611 d:ShareCapital 2024-04-30 06612611 d:ShareCapital 2022-05-01 2023-04-30 06612611 d:ShareCapital 2023-04-30 06612611 d:ShareCapital 2022-05-01 06612611 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 06612611 d:RetainedEarningsAccumulatedLosses 2024-04-30 06612611 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 06612611 d:RetainedEarningsAccumulatedLosses 2023-04-30 06612611 d:RetainedEarningsAccumulatedLosses 2022-05-01 06612611 c:OrdinaryShareClass1 2023-05-01 2024-04-30 06612611 c:OrdinaryShareClass1 2024-04-30 06612611 c:OrdinaryShareClass1 2023-04-30 06612611 c:FRS102 2023-05-01 2024-04-30 06612611 c:Audited 2023-05-01 2024-04-30 06612611 c:FullAccounts 2023-05-01 2024-04-30 06612611 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06612611 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 06612611 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 06612611 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 06612611 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 06612611 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-04-30 06612611 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-04-30 06612611 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06612611










Composting Facilities Services Limited










Directors' report and financial statements

For the year ended 30 April 2024

 
Composting Facilities Services Limited
 

Company Information


Directors
Mr Brian A Crust 
Mr Keith A Crust 
Mr Antony K Crust 
Mr Brian S Crust 
Mr Allen C Crust 
Mr Terry S Crust 
Mr Luke Potts 
Mr Clive Harris (appointed 11 September 2023)
Mr Paul Lee (appointed 24 January 2024)
Mr Christopher R Henderson 




Company secretary
Mr Antony K Crust



Registered number
06612611



Registered office
Stanley House
Anthonys Way

Medway City Estate

Rochester

Kent

ME2 4NF




Independent auditors
Kreston Reeves LLP
Statutory Auditor & Chartered Accountant

Maritime Place

Quayside

Chatham Maritime

Chatham

Kent

ME4 4QZ





 
Composting Facilities Services Limited
 

Contents



Page
Directors' report
 
1 - 2
Independent auditors' report
 
3 - 6
Profit and loss account
 
7
Balance sheet
 
8
Statement of changes in equity
 
9
Notes to the financial statements
 
10 - 18


 
Composting Facilities Services Limited
 

 
Directors' report
For the year ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Directors' report 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They 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.

Principal activity

The principal activity of the Company continues to be that of waste disposal services.

Directors

The directors who served during the year were:

Mr Brian A Crust 
Mr Keith A Crust 
Mr Antony K Crust 
Mr Brian S Crust 
Mr Allen C Crust 
Mr Terry S Crust 
Mr Stephen P Gilson (resigned 20 October 2023)
Mr Luke Potts 
Mr Richard Spencer-Tanner (resigned 1 November 2023)
Mr Scott L Diamond (resigned 24 January 2024)
Mr Spencer J Crust (resigned 3 May 2024)
Mr Clive Harris (appointed 11 September 2023)
Mr Paul Lee (appointed 24 January 2024)
Mr Christopher R Henderson 

Page 1

 
Composting Facilities Services Limited
 

 
Directors' report (continued)
For the year ended 30 April 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

Under section 487(2) of the Companies Act 2006Kreston Reeves LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





Mr Antony K Crust
Director
Date: 29 May 2025

Page 2

 
Composting Facilities Services Limited
 

 
Independent auditors' report to the members of Composting Facilities Services Limited
 

Opinion


We have audited the financial statements of Composting Facilities Services Limited (the 'Company') for the year ended 30 April 2024, which comprise the Profit and loss account, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policiesThe 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 30 April 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 United Kingdom, including the Financial Reporting Council'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.


Material uncertainty related to going concern


We draw attention to note 2.3 in the financial statements, which indicates that the Company is reliant on Group support. As stated in note 2.3, these events or conditions, along with the other matters as set forth in note 2.3, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.


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. 


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 other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Page 3

 
Composting Facilities Services Limited
 

 
Independent auditors' report to the members of Composting Facilities Services Limited (continued)


Opinion 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 Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' report has been prepared in accordance with applicable legal requirements.


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 Directors' report.


We have nothing to report in respect of the following matters in relation to which 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; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 1, 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 is 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.


Page 4

 
Composting Facilities Services Limited
 

 
Independent auditors' report to the members of Composting Facilities Services Limited (continued)


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 an Auditors' report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Capability of the audit in detecting irregularities, including fraud
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks.
 
Based on our understanding of the Company and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, taxation and pension legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure and management bias in accounting estimates and judgemental areas of the financial statements such as provisions. Audit procedures performed by the engagement team included: 
 
• Discussions with management and assessment of known or suspected instances of non-compliance with   laws and regulations (including health and safety) and fraud;
• Challenging assumptions and judgements made by management in its significant accounting estimates;
• Performing analytical procedures to identify any unusual or unexpected relationships that may indicate    risks of material misstatement due to fraud;
• Confirmation of related parties with management, and review of transactions throughout the period to    identify any previously undisclosed transactions with related parties outside the normal course of     business;
• Physical inspection of tangible fixed assets susceptible to fraud or irregularity; and
• Identifying and testing journal entries, in particular any manual entries made at the year end for financial    statement preparation.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. 


As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:


Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Page 5

 
Composting Facilities Services Limited
 

 
Independent auditors' report to the members of Composting Facilities Services Limited (continued)


Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Company's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.


We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.


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 2006Our 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 an Auditors' 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 members, as a body, for our audit work, for this report, or for the opinions we have formed.





Robert Sellers FCCA (Senior statutory auditor)
for and on behalf of
Kreston Reeves LLP
Statutory Auditor
Chartered Accountant
Chatham
Chatham Maritime

29 May 2025
Page 6

 
Composting Facilities Services Limited
 

Profit and loss account
For the year ended 30 April 2024

2024
2023
£
£

  

Turnover
  
917,546
935,647

Cost of sales
  
(674,064)
(731,040)

Gross profit
  
243,482
204,607

Administrative expenses
  
(617,404)
(566,008)

Operating loss
  
(373,922)
(361,401)

Tax on loss
  
59,009
12,923

Loss for the financial year
  
(314,913)
(348,478)

There were no recognised gains and losses for  2024 or 2023 other than those included in the profit and loss account.

The notes on pages 10 to 18 form part of these financial statements.

Page 7

 
Composting Facilities Services Limited
Registered number: 06612611

Balance sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
626,147
862,183

Current assets
  

Debtors: amounts falling due within one year
 5 
184,522
283,780

Cash at bank and in hand
 6 
19,414
28,723

  
203,936
312,503

Creditors: amounts falling due within one year
 7 
(1,370,032)
(1,301,265)

Net current liabilities
  
 
 
(1,166,096)
 
 
(988,762)

Creditors: amounts falling due after more than one year
 8 
(25,600)
(65,048)

Provisions for liabilities
  

Deferred tax
  
(133,474)
(192,483)

Net liabilities
  
(699,023)
(384,110)


Capital and reserves
  

Called up share capital 
 10 
600
600

Profit and loss account
  
(699,623)
(384,710)

  
(699,023)
(384,110)


The financial statements have been prepared 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 financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr Antony K Crust
Director

Date: 29 May 2025

Page 8

 
Composting Facilities Services Limited
 

Statement of changes in equity
For the year ended 30 April 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 May 2022
600
(36,232)
(35,632)


Comprehensive income for the year

Loss for the year
-
(348,478)
(348,478)
Total comprehensive income for the year
-
(348,478)
(348,478)


Total transactions with owners
-
-
-



At 1 May 2023
600
(384,710)
(384,110)


Comprehensive income for the year

Loss for the year
-
(314,913)
(314,913)
Total comprehensive income for the year
-
(314,913)
(314,913)


Total transactions with owners
-
-
-


At 30 April 2024
600
(699,623)
(699,023)


The notes on pages 10 to 18 form part of these financial statements.

Page 9

 
Composting Facilities Services Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

1.


General information

Composting Facilities Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stanley House, Anthonys Way, Medway City Estate, Rochester, Kent, ME2 4NF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The Company's functional currency is Pounds Sterling.
The Company's financial statements are presented to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7;
the requirement of paragraph 24(b) of IFRS 6 Exploration for and Evaluation of Mineral Resources to disclose the operating and investing cash flows arising from the exploration for and evaluation of mineral resources (when applying this standard in accordance with paragraph 34.11 of FRS 102).

This information is included in the consolidated financial statements of MTS Cleansing Group Limited as at 30 April 2024 and these financial statements may be obtained from Companies House.

 
2.3

Going concern

The Company is reliant on the Group for its financial resources to continue to meet its working capital obligations for a period of 12 months from the date of signing these financial statements, because of the uncertainty of the ability to provide this support, a material uncertainty exists in these financial statements over going concern.

Page 10

 
Composting Facilities Services Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Land and buildings Leasehold
-
10%
Plant and machinery
-
Between 5% and 10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 11

 
Composting Facilities Services Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

  
2.6

Impairment of fixed assets

At each reporting period end date, the Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have
ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
 
Page 12

 
Composting Facilities Services Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
 
Page 13

 
Composting Facilities Services Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.12

Retirement benefits

Payments to defined contribution retirement schemes are charged as an expense as they fall due.

  
2.13

Equity instruments

Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

  
2.14

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits,

Page 14

 
Composting Facilities Services Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 15

 
Composting Facilities Services Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

4.


Tangible fixed assets





Land and buildings
Plant and machinery
Total

£
£
£



Cost 


At 1 May 2023
111,826
3,367,870
3,479,696



At 30 April 2024

111,826
3,367,870
3,479,696



Depreciation


At 1 May 2023
111,826
2,505,687
2,617,513


Charge for the year on owned assets
-
236,036
236,036



At 30 April 2024

111,826
2,741,723
2,853,549



Net book value



At 30 April 2024
-
626,147
626,147



At 30 April 2023
-
862,183
862,183

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
102,095
120,381

Page 16

 
Composting Facilities Services Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

5.


Debtors

2024
2023
£
£


Trade debtors
69,906
120,232

Other debtors
114,616
163,548

184,522
283,780



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
19,414
28,723



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
-
483,544

Trade creditors
101,189
128,659

Amounts owed to group undertakings
1,184,210
616,176

Other taxation and social security
6,506
10,248

Obligations under finance lease and hire purchase contracts
38,400
36,722

Other creditors
3,455
1,502

Accruals and deferred income
36,272
24,414

1,370,032
1,301,265


HSBC (UK) Ltd have provided a debenture loan secured by fixed and floating charge over the assets of the Company. It also contains a negative pledge. At the year end the balance on this facility was £Nil (2023: £Nil).


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
25,600
65,048

25,600
65,048


HSBC (UK) Ltd have provided a debenture loan secured by fixed and floating charge over the assets of the Company. It also contains a negative pledge. At the year end the balance on this facility was £Nil (2023: £Nil).

Page 17

 
Composting Facilities Services Limited
 

 
Notes to the financial statements
For the year ended 30 April 2024

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
25,600
36,723

Between 1-5 years
38,400
66,757

64,000
103,480


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



600 (2023 - 600) Ordinary shares of £1.00 each
600
600



11.


Related party transactions

The Company has taken advantage of the exemption from disclosing related party transactions with its fellow group members provided by paragraph 33.1A of Financial Reporting Standard 102 as it is a wholly owned subsidiary undertaking of MTS Cleansing Group Limited. 


12.


Controlling party

The immediate parent company of Composting Facilities Services Limited is MTS Cleansing Group Limited, which is registered in England. 
The Company is ultimately controlled by Mr B S Crust and Mr K A Crust, by virtue of their combined shareholding.

Page 18