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REGISTERED NUMBER: 03377329 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Pellows Waste Disposal Services Ltd

Pellows Waste Disposal Services Ltd (Registered number: 03377329)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pellows Waste Disposal Services Ltd

Company Information
for the Year Ended 31 January 2025







DIRECTORS: Mrs L M R Martin
J P Martin
A J Martin
A J Martin





SECRETARY: Mrs L M R Martin





REGISTERED OFFICE: Carnon Valley Garage
Carnon Valley
Carnon Downs
TRURO
Cornwall
TR3 6LG





REGISTERED NUMBER: 03377329 (England and Wales)





ACCOUNTANTS: Colin Truscott Accountancy Limited
9 Heron Close
Tresillian
Cornwall
TR2 4BH

Pellows Waste Disposal Services Ltd (Registered number: 03377329)

Balance Sheet
31 January 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,000 17,500
Tangible assets 5 3,575,177 2,724,117
3,590,177 2,741,617

CURRENT ASSETS
Stocks 174,000 194,500
Debtors 6 893,049 1,158,043
Cash at bank and in hand 137,238 234,370
1,204,287 1,586,913
CREDITORS
Amounts falling due within one year 7 1,662,349 1,826,615
NET CURRENT LIABILITIES (458,062 ) (239,702 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,132,115

2,501,915

CREDITORS
Amounts falling due after more than
one year

8

(1,486,127

)

(1,143,615

)

PROVISIONS FOR LIABILITIES (466,962 ) (382,778 )
NET ASSETS 1,179,026 975,522

Pellows Waste Disposal Services Ltd (Registered number: 03377329)

Balance Sheet - continued
31 January 2025

2025 2024
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,178,726 975,222
1,179,026 975,522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2025 and were signed on its behalf by:





Mrs L M R Martin - Director


Pellows Waste Disposal Services Ltd (Registered number: 03377329)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Pellows Waste Disposal Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be readily measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates Value Added Tax and other sales taxes.

Revenue from a contract to provide services is recognised in the period 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 they 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 15% on reducing balance and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Pellows Waste Disposal Services Ltd (Registered number: 03377329)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2024 - 34 ) .

Pellows Waste Disposal Services Ltd (Registered number: 03377329)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2024
and 31 January 2025 235,000
AMORTISATION
At 1 February 2024 217,500
Charge for year 2,500
At 31 January 2025 220,000
NET BOOK VALUE
At 31 January 2025 15,000
At 31 January 2024 17,500

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2024 525,982 4,069,024 4,595,006
Additions 373,241 973,005 1,346,246
Disposals - (255,161 ) (255,161 )
At 31 January 2025 899,223 4,786,868 5,686,091
DEPRECIATION
At 1 February 2024 35,510 1,835,379 1,870,889
Charge for year 11,456 434,613 446,069
Eliminated on disposal - (206,044 ) (206,044 )
At 31 January 2025 46,966 2,063,948 2,110,914
NET BOOK VALUE
At 31 January 2025 852,257 2,722,920 3,575,177
At 31 January 2024 490,472 2,233,645 2,724,117

Pellows Waste Disposal Services Ltd (Registered number: 03377329)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2024 1,767,686
Additions 364,247
Transfer to ownership (51,000 )
At 31 January 2025 2,080,933
DEPRECIATION
At 1 February 2024 427,150
Charge for year 239,227
Transfer to ownership (24,378 )
At 31 January 2025 641,999
NET BOOK VALUE
At 31 January 2025 1,438,934
At 31 January 2024 1,340,536

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 655,435 1,121,515
Other debtors 237,614 36,528
893,049 1,158,043

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 518,095 372,781
Hire purchase contracts 365,508 314,375
Trade creditors 681,407 949,511
Taxation and social security 29,112 29,996
Other creditors 68,227 159,952
1,662,349 1,826,615

Pellows Waste Disposal Services Ltd (Registered number: 03377329)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2025 2024
£    £   
Bank loans 316,441 307,318
Hire purchase contracts 681,135 780,735
Other creditors 488,551 55,562
1,486,127 1,143,615

9. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank overdrafts 20,456 22,763
Bank loans 814,080 657,336
834,536 680,099

There are Fixed and Floating Charges held by HSBC UK Bank PLC and HSBC Invoice Finance (UK) Ltd on freehold property and the undertaking of the company.

10. CONTINGENT LIABILITIES

Cornwall Council has provided Grant Funding in the sum of £517,747 for the development of Sewerage Treatment Works. The grant monies are secured on fixed assets used in the construction of the works. The security period ends on 31 March 2030.