REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2025 |
for |
Mayglothling Waste Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2025 |
for |
Mayglothling Waste Limited |
Mayglothling Waste Limited (Registered number: 01602629) |
Contents of the Financial Statements |
for the year ended 31 March 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Mayglothling Waste Limited |
Company Information |
for the year ended 31 March 2025 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Unit 2 Foley Works |
Foley Trading Estate |
Hereford |
Herefordshire |
HR1 2SF |
Mayglothling Waste Limited (Registered number: 01602629) |
Balance Sheet |
31 March 2025 |
31/3/25 | 31/3/24 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
Investments | 7 |
CURRENT ASSETS |
Stocks |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Mayglothling Waste Limited (Registered number: 01602629) |
Balance Sheet - continued |
31 March 2025 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Mayglothling Waste Limited (Registered number: 01602629) |
Notes to the Financial Statements |
for the year ended 31 March 2025 |
1. | STATUTORY INFORMATION |
Mayglothling Waste Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income from long-term contracts is recognised in accordance with the stage of completion. Where the right to income arises only on completion, turnover is recognised at that point. |
Goodwill |
Goodwill arising on the acquisition of businesses in 2016, 2019 and 2021 are being amortised over their estimated useful life of five years. |
Intangible asset - computer software |
The company has invested in developing bespoke computer software. After initial recognition, intangible assets are measured at cost, less any accumulated amortisation and any accumulated impairment losses. |
Amortisation commences when the software is brought into use. The policy is to amortise over the expected useful life, currently estimated at five years. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Mayglothling Waste Limited (Registered number: 01602629) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2025 |
3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | INTANGIBLE FIXED ASSETS |
Computer |
Goodwill | software | Totals |
£ | £ | £ |
Cost |
At 1 April 2024 |
and 31 March 2025 |
Amortisation |
At 1 April 2024 |
Amortisation for year |
At 31 March 2025 |
Net book value |
At 31 March 2025 |
At 31 March 2024 |
Mayglothling Waste Limited (Registered number: 01602629) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2025 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Cost |
At 1 April 2024 |
Additions |
Disposals | ( |
) |
At 31 March 2025 |
Depreciation |
At 1 April 2024 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2025 |
Net book value |
At 31 March 2025 |
At 31 March 2024 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost |
At 1 April 2024 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2025 |
Depreciation |
At 1 April 2024 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2025 |
Net book value |
At 31 March 2025 |
At 31 March 2024 |
Mayglothling Waste Limited (Registered number: 01602629) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2025 |
7. | FIXED ASSET INVESTMENTS |
31/3/25 | 31/3/24 |
£ | £ |
Shares in group undertakings |
Other loans |
Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 April 2024 |
and 31 March 2025 |
Net book value |
At 31 March 2025 |
At 31 March 2024 |
Other |
loans |
£ |
New in year |
At 31 March 2025 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/25 | 31/3/24 |
£ | £ |
Trade debtors |
Other debtors |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/25 | 31/3/24 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
Mayglothling Waste Limited (Registered number: 01602629) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2025 |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/25 | 31/3/24 |
£ | £ |
Hire purchase contracts |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/3/25 | 31/3/24 |
£ | £ |
Hire purchase contracts | 850,639 | 700,374 |
Hire purchase contracts are secured on the asset to which they relate. |
Barclays Bank PLC holds a debenture including fixed and floating charge dated 22 October 2004. |
12. | PROVISIONS FOR LIABILITIES |
31/3/25 | 31/3/24 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 April 2024 |
Charge to Profit and Loss Account during year |
Balance at 31 March 2025 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value | £ | £ |
51 | Ordinary A | £1 | 51 | 51 |
39 | Ordinary B | £1 | 39 | 39 |
10 | Ordinary C | £1 | 10 | 10 |
100 | 100 |