IRIS Accounts Production v25.1.4.42 03045662 Board of Directors Board of Directors 1.8.23 31.7.24 31.7.24 18/3/2025 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh030456622023-07-31030456622024-07-31030456622023-08-012024-07-31030456622022-07-31030456622022-08-012023-07-31030456622023-07-3103045662ns15:EnglandWales2023-08-012024-07-3103045662ns14:PoundSterling2023-08-012024-07-3103045662ns10:Director12023-08-012024-07-3103045662ns10:Director22023-08-012024-07-3103045662ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3103045662ns10:SmallEntities2023-08-012024-07-3103045662ns10:Audited2023-08-012024-07-3103045662ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3103045662ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3103045662ns10:FullAccounts2023-08-012024-07-3103045662ns10:Director42023-08-012024-07-3103045662ns10:Director52023-08-012024-07-3103045662ns10:RegisteredOffice2023-08-012024-07-3103045662ns5:CurrentFinancialInstruments2024-07-3103045662ns5:CurrentFinancialInstruments2023-07-3103045662ns5:Non-currentFinancialInstruments2024-07-3103045662ns5:Non-currentFinancialInstruments2023-07-3103045662ns5:ShareCapital2024-07-3103045662ns5:ShareCapital2023-07-3103045662ns5:CapitalRedemptionReserve2024-07-3103045662ns5:CapitalRedemptionReserve2023-07-3103045662ns5:RetainedEarningsAccumulatedLosses2024-07-3103045662ns5:RetainedEarningsAccumulatedLosses2023-07-3103045662ns5:PlantMachinery2023-08-012024-07-3103045662ns5:FurnitureFittings2023-08-012024-07-3103045662ns5:MotorVehicles2023-08-012024-07-3103045662ns5:PlantMachinery2023-07-3103045662ns5:FurnitureFittings2023-07-3103045662ns5:MotorVehicles2023-07-3103045662ns5:PlantMachinery2024-07-3103045662ns5:FurnitureFittings2024-07-3103045662ns5:MotorVehicles2024-07-3103045662ns5:PlantMachinery2023-07-3103045662ns5:FurnitureFittings2023-07-3103045662ns5:MotorVehicles2023-07-3103045662ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3103045662ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3103045662ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-07-3103045662ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-07-31
REGISTERED NUMBER: 03045662 (England and Wales)















SERIOUS WASTE MANAGEMENT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SERIOUS WASTE MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: R Menzies
G M Iandolo
D J Bould
Ms V Oldknow





REGISTERED OFFICE: Francis House
Shobnall Road
Burton-On-Trent
Staffordshire
DE14 2BB





REGISTERED NUMBER: 03045662 (England and Wales)





AUDITORS: Spurling Cannon Audit Limited
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 825,898 607,069

CURRENT ASSETS
Stocks 5 176,021 96,163
Debtors 6 3,882,399 3,539,101
Cash at bank and in hand 137,743 275,336
4,196,163 3,910,600
CREDITORS
Amounts falling due within one year 7 (1,754,306 ) (1,584,191 )
NET CURRENT ASSETS 2,441,857 2,326,409
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,267,755

2,933,478

CREDITORS
Amounts falling due after more than one year 8 (611,956 ) (514,773 )

PROVISIONS FOR LIABILITIES (77,129 ) (91,274 )
NET ASSETS 2,578,670 2,327,431

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 10 10
Retained earnings 2,578,560 2,327,321
2,578,670 2,327,431

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 18 March 2025 and were signed on its behalf by:



R Menzies - Director



G M Iandolo - Director


SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Serious Waste Management Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover 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.
Plant and machinery - 25% on reducing balance
Fixture & Fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks 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.

SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

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 36 (2023 - 34 ) .

4. TANGIBLE FIXED ASSETS
Plant and Fixture & Motor
machinery Fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2023 2,063,913 173,134 204,876 2,441,923
Additions 472,404 2,993 6,180 481,577
Disposals (446,128 ) - (20,068 ) (466,196 )
At 31 July 2024 2,090,189 176,127 190,988 2,457,304
DEPRECIATION
At 1 August 2023 1,561,076 156,596 117,180 1,834,852
Charge for year 170,429 4,434 20,085 194,948
Eliminated on disposal (388,800 ) - (9,594 ) (398,394 )
At 31 July 2024 1,342,705 161,030 127,671 1,631,406
NET BOOK VALUE
At 31 July 2024 747,484 15,097 63,317 825,898
At 31 July 2023 502,837 16,538 87,696 607,071

5. STOCKS
2024 2023
£    £   
Stocks 176,021 96,163

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,063,516 1,088,547
Sundry debtors 226,601 179,740
Serious Waste Holdings Limited 2,486,446 2,235,564
Serious About Parts Limited 250 250
Directors' current accounts 80,607 35,000
Tax 24,979 -
3,882,399 3,539,101

SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 56,150 55,973
Hire purchase contracts 204,197 149,208
Trade creditors 698,380 571,589
Corporation Tax - 48,207
Social security and other taxes 43,682 34,841
VAT 78,251 92,529
Sundry creditors 482,451 433,081
Accrued expenses 191,195 198,763
1,754,306 1,584,191

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans due more than 1 yr 68,183 124,640
Hire purchase contracts 543,773 390,133
611,956 514,773

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

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.

Jonathan Spurling (Senior Statutory Auditor)
for and on behalf of Spurling Cannon Audit Limited

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Serious Waste Holdings Limited.

Serious Waste Holdings Limited (Company No. 12970312) holds 100% of the issued share capital of the company.