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COMPANY REGISTRATION NUMBER: 07428950
Clean Waste Limited
Filleted Unaudited Financial Statements
31 March 2025
Clean Waste Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
533,146
317,666
Investments
6
57,200
---------
---------
533,146
374,866
Current assets
Debtors
7
1,390,977
1,485,276
Cash at bank and in hand
128,193
69,816
------------
------------
1,519,170
1,555,092
Creditors: amounts falling due within one year
8
244,653
211,690
------------
------------
Net current assets
1,274,517
1,343,402
------------
------------
Total assets less current liabilities
1,807,663
1,718,268
Provisions
133,065
79,146
------------
------------
Net assets
1,674,598
1,639,122
------------
------------
Capital and reserves
Called up share capital
100
100
Share premium account
21,780
21,780
Profit and loss account
1,652,718
1,617,242
------------
------------
Shareholders funds
1,674,598
1,639,122
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Clean Waste Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 30 May 2025 , and are signed on behalf of the board by:
Mr K Smith
Director
Company registration number: 07428950
Clean Waste Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
20% straight line
Fixtures & fittings
-
20% straight line
Motor vehicles
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investment in subsidiary
Investment in the subsidiary company is accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investment in the subsidiaryassociates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2024: 20 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024
746,592
39,793
5,600
791,985
Additions
336,340
1,750
338,090
Disposals
( 153,310)
( 153,310)
---------
--------
-------
---------
At 31 March 2025
929,622
41,543
5,600
976,765
---------
--------
-------
---------
Depreciation
At 1 April 2024
439,455
29,964
4,900
474,319
Charge for the year
117,394
4,516
700
122,610
Disposals
( 153,310)
( 153,310)
---------
--------
-------
---------
At 31 March 2025
403,539
34,480
5,600
443,619
---------
--------
-------
---------
Carrying amount
At 31 March 2025
526,083
7,063
533,146
---------
--------
-------
---------
At 31 March 2024
307,137
9,829
700
317,666
---------
--------
-------
---------
6. Investments
Unlisted investments
Other loans
Total
£
£
£
Cost
At 1 April 2024
37,200
20,000
57,200
Disposals
( 37,200)
( 20,000)
(57,200)
--------
--------
--------
At 31 March 2025
--------
--------
--------
Impairment
At 1 April 2024 and 31 March 2025
--------
--------
--------
Carrying amount
At 31 March 2025
--------
--------
--------
At 31 March 2024
37,200
20,000
57,200
--------
--------
--------
7. Debtors
2025
2024
£
£
Trade debtors
447,759
491,958
Other debtors
943,218
993,318
------------
------------
1,390,977
1,485,276
------------
------------
8. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
63,293
58,170
Corporation tax
75,037
112,094
Social security and other taxes
99,323
25,801
Other creditors
7,000
15,625
---------
---------
244,653
211,690
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr K Smith
173,042
93,994
( 120,484)
146,552
Mrs J Smith
176,784
82,168
( 95,821)
163,131
Mrs J Bates
331,515
111,617
( 151,732)
291,400
---------
---------
---------
---------
681,341
287,779
( 368,037)
601,083
---------
---------
---------
---------
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr K Smith
104,401
165,646
( 97,005)
173,042
Mrs J Smith
151,219
122,359
( 96,794)
176,784
Mrs J Bates
471,879
274,502
( 414,866)
331,515
---------
---------
---------
---------
727,499
562,507
( 608,665)
681,341
---------
---------
---------
---------