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REGISTERED NUMBER: 07412151 (England and Wales)











Strategic Report,

Report of the Director and

Financial Statements

for the Year Ended 31st October 2024

for

Silverwoods Waste Management Ltd

Silverwoods Waste Management Ltd (Registered number: 07412151)

Contents of the Financial Statements
for the Year Ended 31st October 2024










Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Statement of Income and Retained Earnings 7

Balance Sheet 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11


Silverwoods Waste Management Ltd

Company Information
for the Year Ended 31st October 2024







DIRECTOR: Mr J Silverwood





REGISTERED OFFICE: Unit 13
Moorfield Industrial Estate
Altham
Accrington
Lancashire
BB5 5TX





REGISTERED NUMBER: 07412151 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Accountants and Statutory Auditors
Dalton House
9 Dalton Square
Lancaster
Lancashire
LA1 1WD

Silverwoods Waste Management Ltd (Registered number: 07412151)

Strategic Report
for the Year Ended 31st October 2024


The director presents his strategic report for the year ended 31st October 2024.

REVIEW OF BUSINESS
Silverwoods Waste Management Ltd set the industry benchmark in terms of Environmental Compliance. Our attention to detail and understanding of the Environmental Permitting Regulations (England and Wales) 2010, ensures that our clients can focus on production, in the knowledge that their wastes are being managed responsibly. Our services include a 75,000t Hazardous Waste Transfer Station, we manage numerous sources of both solid and liquid organic waste streams from Dairies, Breweries, AD Plants, Food Factories and Cement Works.

In terms of risks, the Waste Management industry is heavily regulated and this combined with the significant number of Environmental Permits that SWM now own, any minor breaches could lead to increased costs and worst-case fines. Compliance is our key priority and over the last 14 years we have never had an issue but it is a risk (which is managed). The other risk is legislative change - the introduction of Farming Rules For Water last year has prevented winter applications and as such we have had to stockpile materials accordingly. Finally, while we have over 30 different clients, 90% of the business will be associated with the top 8. We intend to grow the business further next year thereby reducing our reliance on the larger clients.

The company's key performance indicators are gross profit and profit before tax. The company's performance in the year to 31 October 2024 indicates that the company continues to grow with gross profit increasing to £2,602k from £2,396k in the previous year.

ON BEHALF OF THE BOARD:





Mr J Silverwood - Director


22nd July 2025

Silverwoods Waste Management Ltd (Registered number: 07412151)

Report of the Director
for the Year Ended 31st October 2024


The director presents his report with the financial statements of the company for the year ended 31st October 2024.

DIVIDENDS
Interim dividends per share were paid during the year as follows:
Ordinary £1.00 - £4000 - 30th October 2024
Ordinary E £1 - £250000 - 30th October 2024

The total distribution of dividends for the year ended 31st October 2024 will be £ 650,000 .

DIRECTOR
Mr J Silverwood held office during the whole of the period from 1st November 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 director is required to:

-select suitable accounting policies 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 director is 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 enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr J Silverwood - Director


22nd July 2025

Report of the Independent Auditors to the Members of
Silverwoods Waste Management Ltd


Opinion
We have audited the financial statements of Silverwoods Waste Management Ltd (the 'company') for the year ended 31st October 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The 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 31st October 2024 and of its profit 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 UK, including the FRC'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.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our 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.

In connection with our audit of the financial statements, 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 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.

Opinions 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 Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have 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 Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where 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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Silverwoods Waste Management Ltd


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- enquiries are made of management and those charged with governance as to whether there is any knowledge of actual, suspected, or alleged fraud, whether there is any known non-compliance with laws or regulations, and whether the company has been subject to any litigation or any legal claims.

- audit work over the risk of management override of controls is undertaken. This includes testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

- analytical reviews are performed on the financial statements at all stages of the audit by comparison to prior years and expectations to ensure the reasonableness of the figures therein.

- third party confirmation is obtained from the company's bankers to confirm bank balances, loan facilities and security held.

- detailed audit testing is undertaken in specific areas to ensure that income and expenditure is correctly recorded and is a genuine income or expense of the company.

- financial statement disclosures are reviewed and tested to supporting documentation to assess compliance with applicable laws and regulations.

Due to 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. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Silverwoods Waste Management Ltd


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 2006. Our 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 a Report of the Auditors 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.




Tim Preece FCCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Accountants and Statutory Auditors
Dalton House
9 Dalton Square
Lancaster
Lancashire
LA1 1WD

22nd July 2025

Silverwoods Waste Management Ltd (Registered number: 07412151)

Statement of Income and Retained Earnings
for the Year Ended 31st October 2024

2024 2023
Notes £    £   

REVENUE 12,059,153 12,965,645

Cost of sales 9,457,268 10,569,402
GROSS PROFIT 2,601,885 2,396,243

Administrative expenses 1,107,167 903,346
1,494,718 1,492,897

Other operating income 750 5,406
OPERATING PROFIT 5 1,495,468 1,498,303

Interest receivable and similar income 55,484 30,033
1,550,952 1,528,336

Interest payable and similar expenses 6 105,507 63,461
PROFIT BEFORE TAXATION 1,445,445 1,464,875

Tax on profit 7 254,098 52,713
PROFIT FOR THE FINANCIAL YEAR 1,191,347 1,412,162

Retained earnings at beginning of year 3,524,414 2,801,793

Dividends 8 (650,000 ) (689,541 )

RETAINED EARNINGS AT END OF YEAR 4,065,761 3,524,414

Silverwoods Waste Management Ltd (Registered number: 07412151)

Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 9 4,079,910 4,069,081

CURRENT ASSETS
Inventories 10 41,000 46,500
Debtors 11 7,129,760 4,963,481
Cash at bank and in hand 88,919 54,314
7,259,679 5,064,295
CREDITORS
Amounts falling due within one year 12 6,585,714 4,990,729
NET CURRENT ASSETS 673,965 73,566
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,753,875

4,142,647

CREDITORS
Amounts falling due after more than one
year

13

(451,678

)

(414,701

)

PROVISIONS FOR LIABILITIES 17 (236,330 ) (203,426 )
NET ASSETS 4,065,867 3,524,520

CAPITAL AND RESERVES
Called up share capital 18 106 106
Retained earnings 19 4,065,761 3,524,414
SHAREHOLDERS' FUNDS 4,065,867 3,524,520

The financial statements were approved by the director and authorised for issue on 22nd July 2025 and were signed by:





Mr J Silverwood - Director


Silverwoods Waste Management Ltd (Registered number: 07412151)

Cash Flow Statement
for the Year Ended 31st October 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,652,266 1,635,388
Interest paid (63,253 ) (34,028 )
Interest element of hire purchase payments
paid

(42,254

)

(29,433

)
Tax paid (153,559 ) (265,512 )
Net cash from operating activities 1,393,200 1,306,415

Cash flows from investing activities
Purchase of tangible fixed assets (225,927 ) (327,079 )
Sale of tangible fixed assets - 56,083
Interest received 55,484 30,033
Net cash from investing activities (170,443 ) (240,963 )

Cash flows from financing activities
New loans in year - 88,308
Capital repayments in year 254,057 (12,864 )
Amount introduced by directors 650,000 650,001
Amount withdrawn by directors (1,846,310 ) (1,408,125 )
Equity dividends paid (650,000 ) (689,541 )
Net cash from financing activities (1,592,253 ) (1,372,221 )

Decrease in cash and cash equivalents (369,496 ) (306,769 )
Cash and cash equivalents at beginning
of year

2

(1,001,448

)

(694,679

)

Cash and cash equivalents at end of year 2 (1,370,944 ) (1,001,448 )

Silverwoods Waste Management Ltd (Registered number: 07412151)

Notes to the Cash Flow Statement
for the Year Ended 31st October 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 1,445,445 1,464,875
Depreciation charges 215,098 166,414
Profit on disposal of fixed assets - (2,535 )
Finance costs 105,507 63,461
Finance income (55,484 ) (30,033 )
1,710,566 1,662,182
Decrease in inventories 5,500 -
(Increase)/decrease in trade and other debtors (995,283 ) 605,117
Increase/(decrease) in trade and other creditors 931,483 (631,911 )
Cash generated from operations 1,652,266 1,635,388

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st October 2024
31/10/24 1/11/23
£    £   
Cash and cash equivalents 88,919 54,314
Bank overdrafts (1,459,863 ) (1,055,762 )
(1,370,944 ) (1,001,448 )
Year ended 31st October 2023
31/10/23 1/11/22
£    £   
Cash and cash equivalents 54,314 61,539
Bank overdrafts (1,055,762 ) (756,218 )
(1,001,448 ) (694,679 )


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/11/23 Cash flow At 31/10/24
£    £    £   
Net cash
Cash at bank and in hand 54,314 34,605 88,919
Bank overdrafts (1,055,762 ) (404,101 ) (1,459,863 )
(1,001,448 ) (369,496 ) (1,370,944 )
Debt
Finance leases (235,530 ) (254,057 ) (489,587 )
Debts falling due within 1 year (209,694 ) 78,236 (131,458 )
Debts falling due after 1 year (295,281 ) 131,458 (163,823 )
(740,505 ) (44,363 ) (784,868 )
Total (1,741,953 ) (413,859 ) (2,155,812 )

Silverwoods Waste Management Ltd (Registered number: 07412151)

Notes to the Financial Statements
for the Year Ended 31st October 2024


1. STATUTORY INFORMATION

Silverwoods Waste Management 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. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

Research and development
Expenditure on research and development has been identified and is written off in the year in which it is incurred, via the Corporation Tax Computations and CT600.

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.

Silverwoods Waste Management Ltd (Registered number: 07412151)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024


4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 532,432 503,661
Social security costs 49,090 45,215
Other pension costs 14,198 13,617
595,720 562,493

The average number of employees during the year was as follows:
2024 2023

Directors 1 1
Staff 13 13
14 14

2024 2023
£    £   
Director's remuneration 9,096 9,096

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 223,176 66,437
Other operating leases 96,325 81,701
Depreciation - owned assets 215,098 166,415
Profit on disposal of fixed assets - (2,535 )
Auditors' remuneration 12,000 12,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 50,364 31,212
HMRC interest 12,889 2,816
Hire purchase 42,254 29,433
105,507 63,461

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 221,194 7,195

Deferred tax 32,904 45,518
Tax on profit 254,098 52,713

Silverwoods Waste Management Ltd (Registered number: 07412151)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024


8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1.00 each
Interim 400,000 400,000
Ordinary D share of £1
Interim - 39,541
Ordinary E share of £1
Interim 250,000 250,000
650,000 689,541

9. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st November 2023 3,056,334 1,670,246 5,564 151,650 4,883,794
Additions - 180,309 - 45,618 225,927
At 31st October 2024 3,056,334 1,850,555 5,564 197,268 5,109,721
DEPRECIATION
At 1st November 2023 - 791,719 3,930 19,064 814,713
Charge for year 11,477 158,825 245 44,551 215,098
At 31st October 2024 11,477 950,544 4,175 63,615 1,029,811
NET BOOK VALUE
At 31st October 2024 3,044,857 900,011 1,389 133,653 4,079,910
At 31st October 2023 3,056,334 878,527 1,634 132,586 4,069,081

10. INVENTORIES
2024 2023
£    £   
Raw materials 41,000 46,500

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,063,351 2,274,717
Amounts owed by associates 105,305 102,727
Other debtors 1,613 3,113
Directors' current accounts 3,091,808 1,895,498
Tax 818,034 633,654
Prepayments and accrued income 49,649 53,772
7,129,760 4,963,481

Silverwoods Waste Management Ltd (Registered number: 07412151)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 1,591,321 1,265,456
Hire purchase contracts (see note 15) 201,732 116,110
Trade creditors 3,841,437 3,107,613
Corporation tax 627,352 375,337
Social security and other taxes 10,962 8,774
VAT 102,337 66,845
Other creditors 6,824 6,626
Accrued expenses 203,749 43,968
6,585,714 4,990,729

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 14) 163,823 295,281
Hire purchase contracts (see note 15) 287,855 119,420
451,678 414,701

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 1,459,863 1,055,762
Bank loans 131,458 209,694
1,591,321 1,265,456

Amounts falling due between one and two years:
Bank loans - 1-2 years 53,827 131,458

Amounts falling due between two and five years:
Bank loans - 2-5 years 109,996 163,823

15. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 201,732 116,110
Between one and five years 287,855 119,420
489,587 235,530

Silverwoods Waste Management Ltd (Registered number: 07412151)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024


16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 1,459,863 1,055,762

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 236,330 203,426

Deferred
tax
£   
Balance at 1st November 2023 203,426
Provided during year 32,904
Balance at 31st October 2024 236,330

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
1 Ordinary E £1 1 1
1 Ordinary F £1 1 1
1 Ordinary G £1 1 1
1 Ordinary H £1 1 1
106 106

19. RESERVES
Retained
earnings
£   

At 1st November 2023 3,524,414
Profit for the year 1,191,347
Dividends (650,000 )
At 31st October 2024 4,065,761

Silverwoods Waste Management Ltd (Registered number: 07412151)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2024


20. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2024 and 31st October 2023:

2024 2023
£    £   
Mr J Silverwood
Balance outstanding at start of year 1,895,498 1,137,373
Amounts advanced 1,190,145 758,125
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,085,643 1,895,498

The Director had an overdrawn Directors Loan Account balance of £3,085,643 (2023: £1,895,498). Interest has been paid on the outstanding balance at standard approved rates.
The Director repaid £650,000 on 22/07/2025. s455 tax has been charged on the remaining balance and is included on the CT600.

21. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J Silverwood.