Filleted
Registration number:
Carmarthenshire Recycling & Environmental Services Ltd
trading as
for the Year Ended 31 December 2024
Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Company Information
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Directors |
Ms H A Jones Mr J E Jones |
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Registered office |
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Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
(Registration number: 03629750)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Other financial assets |
282,000 |
282,000 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
10,000 |
10,000 |
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Retained earnings |
1,145,617 |
1,241,103 |
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Shareholders' funds |
1,155,617 |
1,251,103 |
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
(Registration number: 03629750)
Balance Sheet as at 31 December 2024
Approved and authorised by the
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......................................... |
Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
The principal place of business is:
Cillefwr Industrial Estate
Johnstown
Carmarthen
SA31 3RB
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Land sites |
No depreciation & 15% Straight Line |
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Plant & Machinery including Containers & Portcabins |
20% Straight Line |
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Office & Computer Equipment |
20% Straight Line |
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Motor Vehicles |
25% straight Line |
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Transfer Station & Building |
5% & 10% Straight Line |
Investment property
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
15% Straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year
was
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Amortisation |
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At 1 January 2024 |
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Amortisation charge |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Land and buildings |
Short leasehold land and buildings |
Containers |
Transfer Station |
Plant and machinery |
Office equipment |
Motor vehicles |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
- |
- |
- |
- |
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- |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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- |
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- |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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- |
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At 31 December 2023 |
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- |
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Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Included within the net book value of land and buildings above is £540,478 (2023 - £541,401) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Investment properties |
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2024 |
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At 1 January |
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At 31 December |
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There has been no valuation of investment property by an independent valuer.
Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Other financial assets (current and non-current) |
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Financial assets at cost less impairment |
Total |
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Current financial assets |
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Cost or valuation |
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Additions |
282,000 |
282,000 |
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At 31 December 2024 |
282,000 |
282,000 |
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Impairment |
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Carrying amount |
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At 31 December 2024 |
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282,000 |
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Debtors |
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Current |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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- |
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Creditors |
Creditors: amounts falling due within one year
Carmarthenshire Recycling & Environmental Services Ltd
trading as C.R.E.S.
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Directors' loan accounts |
78,305 |
- |
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Other creditors |
- |
56,551 |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Other borrowings |
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- |
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Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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