Registered number:
01175459
1st Class Waste and Recycling Limited
Filleted Accounts
30 September 2024
MAT & CO
ACCOUNTANCY SERVICES LTD
Chartered Certified Accountants
Registered Auditors
264 High Street
Beckenham
Kent
BR3 1DZ
1st Class Waste and Recycling Limited
Report and accounts
Contents
Page
Balance sheet 2
Notes to the accounts 3 to 5
1st Class Waste and Recycling Limited
Registered number: 01175459
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 227,249 110,111
Current assets
Debtors 4 449,976 311,445
Cash at bank and in hand 6,403 148,205
456,379 459,650
Creditors: amounts falling due within one year 5 (523,551) (215,553)
Net current (liabilities)/assets (67,172) 244,097
Total assets less current liabilities 160,077 354,208
Creditors: amounts falling due after more than one year 6 (72,399) (276,730)
Net assets 87,678 77,478
Capital and reserves
Called up share capital 100 100
Profit and loss account 87,578 77,378
Shareholder's funds 87,678 77,478
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
________________________________________
Mr. Mark Noone
Director
Approved by the board on 25 June 2025
1st Class Waste and Recycling Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 64,774 108,783 173,557
Additions 547 160,912 161,459
At 30 September 2024 65,321 269,695 335,016
Depreciation
At 1 October 2023 24,271 39,175 63,446
Charge for the year 8,210 36,111 44,321
At 30 September 2024 32,481 75,286 107,767
Net book value
At 30 September 2024 32,840 194,409 227,249
At 30 September 2023 40,503 69,608 110,111
4 Debtors 2024 2023
£ £
Trade debtors 306 129,096
Other debtors 449,670 182,349
449,976 311,445
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 84,234 10,977
Obligations under finance lease and hire purchase contracts 26,931 26,931
Trade creditors 97,042 186
Taxation and social security costs 162,914 157,729
Other creditors 152,430 19,730
523,551 215,553
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 40,990 196,874
Obligations under finance lease and hire purchase contracts 31,409 79,856
72,399 276,730
7 Controlling party
There is no controlling party as Mr. Mark Noone & Miss Lucie Waidson both have a 50% shareholding.
8 Other information
1st Class Waste and Recycling Limited is a private company limited by shares and incorporated in England. Its registered office is:
264 High Street
Beckenham
Kent
BR3 1DZ
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