Westminster Waste Limited

Registered number

07465506

Report and Financial Statements

31 December 2024

Westminster Waste Limited
Report and Financial Statements
Contents




Page

Company information	1
Director's report	2 - 3
Strategic report	4 - 5
Independent auditor's report	6 - 9
Income statement	10
Statement of comprehensive income	11
Statement of financial position	12
Statement of changes in equity	13
Statement of cash flows	14
Notes to the financial statements	15 - 28

Westminster Waste Limited

Company Information

Director

Mr D Moule

Auditors

Platts Chartered Accountants

Unit 5 Swaker Yard

2b Theobald Street

Borehamwood

Herts

WD6 4SE

Registered office

Unit 5 Swaker Yard

2b Theobald Street

Borehamwood

Herts

WD6 4SE

Registered number

07465506

Westminster Waste Limited
Registered number: 07465506
Director's Report



The director presents his report and financial statements for the year ended 31 December 2024.

Principal activities

The company's principal activity during the year continued to be the provision of waste management services.

Director

The following person served as director during the year:

	Mr D Moule


Director's responsibilities

The director is responsible for preparing the report and 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 (Financial Reporting Standard 102 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 estimates that are reasonable and prudent;

●

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

●

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.

Disclosure of information to auditors

The director confirms that:

●

so far as he is aware, there is no relevant audit information of which the company's auditor is 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 auditor is aware of that information.


This report was approved by the board on 29 September 2025 and signed on its behalf.



Mr D Moule
Director

Westminster Waste Limited
Strategic Report


The director presents his strategic report on the company for the year ended 31 December 2024.

Business review

The company's key performance indicators are summarised below. The company achieved 92.3% (2023 - 100%) recycling, recovery or re-use (for engineering purposes) of all waste processed. Of the waste recovered, 44.3% (2023 - 36%) has been extracted as recyclable, 33.8% (2023 - 52%) has been sent for reprocessing as RDF & Biomass fuel, 14.2% (2023 - 12%) has been used for engineering purposes, and the remaining 7.7% (2023 - 0%) was non-recylcable and sent to landfill. Our landfill diversion rate was 92.3% (2023 - 100%).
				2024	2023

	Landfill diversion			92.3%	100%
	Recovery			33.8%	52%
	Recycled			58.5%	48%


Turnover has increased to £24,226,379 (2023 - £22,627,761), the operating profit has decreased to £406,876 (2023 - £898,452) and the loss before taxation was £275,179 (2023 - £15,945), due to the company moving to new premises during the previous year, and conseqently incurring a loss on the disposal of fixed assets that were not transportable to the new premises together with relocation costs.


Principal risks and uncertainties

The company faces a number of risks and uncertainties and the director believes that the key business risks are in respect of competition from both Local and Regional businesses and in ensuring product development and availability. In view of these risks and uncertainties, the director is aware that the development of the company may be affected by factors outside their control.

The director has considered the effect of 'Brexit' on the business specifically. Given that the company currently operates within the UK market and its customers are based in the UK, there is no direct or immediate impact envisaged by the director, on the company. The director does acknowledge that there may be contingent liabilities, such as the potential impact on profitability of non-recoverable VAT for companies which currently incur and recover input VAT in other EU states, the effect upon the availability of EU grants and subsidies and the effect upon available workforce, that may arise from 'Brexit', depending on the dissolution terms to be agreed with the EU.

The group has worked closely with one of its key stakeholders, namely, the Chartered Institute of Waste Management (CIWM), to ensure work practices are within the Institutes guidelines by investing in measures to ensure the risk of COVID-19 is minimised.


Future developments

The director anticipates the business environment will remain competitive. He believes that the company is in a good financial position and he remains confident that the company will continue to grow.

The company's current vehicle fleet is all under three year's old and the company replaces vehicles when required, so as to ensure that the whole fleet remains under 3 years old.


Research and development

The company is currently undertaking research and development to improve the performance of its waste management services by seeking ever increasing efficiencies in minimising 'dead load' journeys, constant monitoring of driver locations via GPS to manage and re-route drivers, monitoring driver hours to ensure compliance of the working time directive legislation and maximising efficiencies in terms of the recovery of recyclable and reusable materials.

Streamlined energy snd carbon reporting

The UK Government’s Streamlined Energy and Carbon Reporting (SECR) Policy was implemented on 1 April 2019, and the Company continues to adapt and publish disclosures on energy and carbon. Westminster Waste Limited’s energy use and associated greenhouse gas (GHG) emissions from electricity and fuel in the UK for Year ended 31 December 2024 is detailed below:

Scope 1 (Diesel)		-	1,118,823 litres of diesel were used producing 2,841,810.42 CO2/kg
Scope 2 (Electricity)		-	1,494,244 kwh were consumed producing 17,930.93 CO2/kg


Greenhouse GAS (GHG) Emissions

In line with the Greenhouse Gas Protocol (GHG) Corporate Accounting and Reporting Standard, Westminster Waste Limited continues to be engaged in a process aimed at reducing our energy and greenhouse gas emissions. We have devised a strategy to reduce our carbon footprint significantly including: - Encouraging employees to purchase renewable technology cars - Purchasing energy efficient equipment in the offices and premises - Adopting behavioural changes where possible

Financial instruments

The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are only conducted in sterling. The company does not enter into any hedging transactions.

This report was approved by the board on 29 September 2025 and signed on its behalf.



Mr D Moule
Director

Westminster Waste Limited
Independent auditor's report
to the members of Westminster Waste Limited

Opinion

We have audited the financial statements of Westminster Waste Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the Financial Statements, including 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 the 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 31 December 2024 and of its loss 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 Auditor’s 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 other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The director is responsible for the other information contained within the annual report. 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. 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 course of 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 director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the strategic report and the director's report 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 director's report.

We have nothing to report in respect of the following matters in relation to which 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.

Responsibilities of directors

As explained more fully in the director's responsibilities statement, 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 is 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 have no realistic alternative but to do so.

Auditor’s 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 an auditor’s report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the director and other management (as required by auditing standards), and from inspection of the company’s regulatory and legal correspondence and discussed with the director and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. This included communication from the group to component audit teams of relevant laws and regulations identified at company level.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation, taxation legislation and pension legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or the loss of the company’s licences to operate. We identified the following areas as those most likely to have such an effect: anti-bribery, regulations affecting waste management providers, and certain aspects of company legislation recognising the financial and regulated nature of the company’s activities (reflecting compliance with waste management regulators). Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the director and other management and inspection of regulatory and legal correspondence, if any. Through these procedures, we did not become aware of actual or suspected non-compliance.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition. We performed the following procedures over this risk area:

●	We performed walkthroughs to understand the key processes and identify key controls;
●	We performed procedures to test on a sample basis the appropriateness of journal entries recorded in the general ledger by correlating sales postings with cash receipts throughout the year;
●	We tested whether revenue was recorded in the correct period by testing whether a sample of waste services rendered within 1 week either side of the year end had legally completed in the period in which it was accounted;
●	We tested all material manual journals to assess for any evidence of management bias by checking supporting documentation; and
●	We assessed the adequacy of the related disclosures in the Financial Statements.

Based on our audit procedures we have concluded that revenue is appropriately recognised and that there was no evidence of management bias.

Because of 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.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

●	Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
●	Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.
●	Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director.
●	Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
●	Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
●	Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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 an auditor's report 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.




Adrian Platt (Senior Statutory Auditor)
For and on behalf of Platts Chartered Accountants (Statutory Auditor)
Unit 5 Swaker Yard
2b Theobald Street
Borehamwood
Herts
WD6 4SE


29 September 2025

Westminster Waste Limited
Income Statement
for the year ended 31 December 2024


Notes		2024		2023
£			£

Turnover	3	24,226,379		22,627,761

Cost of sales		(8,929,194)		(8,813,938)

Gross profit		15,297,185		13,813,823

Administrative expenses		(14,906,209)		(12,947,071)
Other operating income		15,900		31,700

Operating profit	4	406,876		898,452

Loss on sale of fixed assets		(210,919)		(444,962)
Interest payable	7	(471,136)		(469,435)

Loss on ordinary activities before taxation		(275,179)		(15,945)

Tax on loss on ordinary activities	8	(32,604)		33,764

(Loss)/profit for the financial year		(307,783)		17,819

Westminster Waste Limited
Statement of Comprehensive Income
for the year ended 31 December 2024


Notes	2024		2023
£		£

(Loss)/profit for the financial year	(307,783)		17,819

Other comprehensive income	-		-

Total comprehensive income for the year	(307,783)		17,819

Westminster Waste Limited
Statement of Financial Position
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	9		179,031			218,292
Tangible assets	10		14,709,607			12,313,018
			14,888,638			12,531,310

Current assets
Stocks	11	12,500			22,000
Debtors	12	5,424,503			5,135,138
Cash at bank and in hand		111,274			199,511

		5,548,277			5,356,649

Creditors: amounts falling due within one year	13	(7,719,930)			(6,757,309)

Net current liabilities			(2,171,653)			(1,400,660)

Total assets less current liabilities			12,716,985			11,130,650

Creditors: amounts falling due after more than one year	14		(7,057,406)			(5,218,979)

Provisions for liabilities
Deferred taxation	16		(696,559)			(640,868)

Net assets			4,963,020			5,270,803

Capital and reserves
Called up share capital	17		100			100
Profit and loss account	18		4,962,920			5,270,703

Total equity			4,963,020			5,270,803




Mr D Moule
Director
Approved by the board on 29 September 2025

Westminster Waste Limited
Statement of Changes in Equity
for the year ended 31 December 2024

Share		Profit		Total
capital		and loss
account
£		£		£

At 1 January 2023	100		5,252,884		5,252,984

Profit for the financial year	-		17,819		17,819

At 31 December 2023	100		5,270,703		5,270,803



At 1 January 2024	100		5,270,703		5,270,803

Loss for the financial year	-		(307,783)		(307,783)

At 31 December 2024	100		4,962,920		4,963,020

Westminster Waste Limited
Statement of Cash Flows
for the year ended 31 December 2024

Notes		2024		2023
£			£
Operating activities
(Loss)/profit for the financial year		(307,783)		17,819

Adjustments for:
Loss on sale of fixed assets		210,919		444,962
Interest payable		471,136		469,435
Tax on loss on ordinary activities		32,604		(33,764)
Depreciation		1,902,030		1,497,077
Amortisation		39,261		39,261
Decrease in stocks		9,500		5,957
Increase in debtors		(289,365)		(120,717)
Increase in creditors		627,940		551,813
		2,696,242		2,871,843

Interest paid		(173,192)		(127,070)
Interest element of finance lease payments		(297,944)		(342,365)
Corporation tax received		23,087		24,144

Cash generated by operating activities		2,248,193		2,426,552

Investing activities
Payments to acquire tangible fixed assets		(4,839,129)		(9,113,217)
Proceeds from sale of tangible fixed assets		329,591		983,940

Cash used in investing activities		(4,509,538)		(8,129,277)

Financing activities
Capital element of finance lease payments		1,108,868		5,104,108

Cash generated by financing activities		1,108,868		5,104,108

Net cash used
Cash generated by operating activities		2,248,193		2,426,552
Cash used in investing activities		(4,509,538)		(8,129,277)
Cash generated by financing activities		1,108,868		5,104,108

Net cash used		(1,152,477)		(598,617)

Cash and cash equivalents at 1 January		(1,508,845)		(910,228)
Cash and cash equivalents at 31 December		(2,661,322)		(1,508,845)

Cash and cash equivalents comprise:
Cash at bank		111,274		199,511
Bank overdrafts	13	(2,772,596)		(1,708,356)
		(2,661,322)		(1,508,845)

Westminster Waste Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1	Summary of significant accounting policies

	General information
	The company operates from one large site servicing the local borough and surrounding areas. The company is a private company limited by shares and is incorporated in England. The address of its registered office is Unit 5 Swaker Yard, 2b Theobald Street, Herts, WD6 4SE. The address of its principal place of business is, Westminster House, Anderson Way, Belvedere, Kent, London DA17 6BG.

	Statement of compliance
	The financial statements of Westminster Waste Limited have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (‘FRS 102’) and the Companies Act 2006.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The company (a wholly owned subsidiary) has taken advantage of the exemption under FRS 102, Section 33.1A, in that, disclosures need not be given of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member. The financial statements are presented in Sterling.

	Going concern
	The company meets its day-to-day working capital requirements through its bank facilities. The current economic conditions continue to create uncertainty over (a) the level of demand for the company’s services; and (b) the availability of bank finance for the foreseeable future. The company’s forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

	Consolidated financial statements
	The company is a wholly owned subsidiary of its ultimate parent, WWL Limited. It is included in the consolidated financial statements of WWL Limited which are publicly available. The address of the parent’s registered office is Unit 5 Swaker Yard, 2b Theobald Street, Herts, WD6 4SE. These financial statements are the company’s separate financial statements.

	Foreign currency
	The company’s functional and presentation currency is the pound sterling.

	Revenue recognition
	Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes. Turnover includes revenue mainly earned from the rendering of waste services and sales of scrap being in the minority. The company bases its estimate of returns on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement. The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity and (e) when the specific criteria relating to each of the company’s sales channels have been met, as described below.
	i. Sales – waste management Turnover from the rendering of waste services is recognised by reference to the date that the waste is collected/delivered. ii. Sales – scrap Turnover from the sale of scrap is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, the point a sale being recognised, when scrap is collected by the customer or when delivered to the customer. iii. Interest income Interest income is recognised using the effective interest rate method. iv. Dividend income Dividend income is recognised when the right to receive payment is established.

	Employee benefits
	The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans. i. Short term benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. ii. Defined contribution pension plans The company operates a UK defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. iii. Annual bonus plan The company operates an annual bonus plan for employees. An expense is recognised in the profit and loss account when the company has a legal or constructive obligation to make payments under the plans as a result of past events and a reliable estimate of the obligation can be made.

	Taxation
	Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively. Current or deferred taxation assets and liabilities are not discounted. i. Current tax Current tax is the amount of corporation tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. ii. Deferred tax Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These 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 recognised on all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are only 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

	Intangible fixed assets
	Computer software is stated at cost less accumulated amortisation and accumulated impairment losses. Software is amortised over its estimated useful life of four years, on a straight line basis. Goodwill is stated at cost less accumulated amortisation and accumulated impairment losses and is amortised over its estimated useful life of ten years, on a straight line basis. Where factors, such as technological advancement or changes in market price, indicate that residual value or useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to reflect the new circumstances. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Section 18 of FRS 102 considers intangible assets other than goodwill and section 19 considers business combinations and goodwill.

	Tangible fixed assets
	Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs. i. Plant and machinery and fixtures, fittings, tools and equipment Plant and machinery and fixtures, fittings, tools and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. ii. Depreciation and residual values Depreciation on other assets is calculated, using the reducing balance method, to allocate the depreciable amount to their residual values over their estimated useful lives, as follows:

	Recycling plant				5% reducing balance
	Plant and machinery				15% reducing balance
	Fixtures, fittings, tools and equipment				15% reducing balance

	The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. iii. Subsequent additions and major components Subsequent costs, including major inspections, are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the Company and the cost can be measured reliably. The carrying amount of any replaced component is derecognised. Major components are treated as separate assets where they have significantly different patterns of consumption of economic benefits and are depreciated separately over their useful lives. Repairs, maintenance and minor inspection costs are expensed as incurred. iv. Assets in the course of construction Assets in the course of construction are stated at cost. These assets are not depreciated until they are available for use. v. Derecognition Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss and included in ‘Other operating (losses)/gains’.

	Borrowing costs
	All borrowing costs are recognised in profit or loss in the period in which they are incurred.

	Leased assets
	At inception the company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement. i. Finance leased assets Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases. Finance leases are capitalised at commencement of the lease as assets at the fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease. Where the implicit rate cannot be determined the company’s incremental borrowing rate is used. Incremental direct costs, incurred in negotiating and arranging the lease, are included in the cost of the asset. Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date. The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of the capital repayments outstanding. ii. Operating leased assets Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Impairment of non-financial assets
	At each balance sheet date non-financial assets not carried at fair value are assessed to determine whether there is an indication that the asset (or asset’s cash generating unit) may be impaired. If there is such an indication the recoverable amount of the asset (or asset’s cash generating unit) is compared to the carrying amount of the asset (or asset’s cash generating unit). The recoverable amount of the asset (or asset’s cash generating unit) is the higher of the fair value less costs to sell and value in use. Value in use is defined as the present value of the future cash flows before interest and tax obtainable as a result of the asset’s (or asset’s cash generating unit’s) continued use. These cash flows are discounted using a pre-tax discount rate that represents the current market risk-free rate and the risks inherent in the asset. If the recoverable amount of the asset (or asset’s cash generating unit) is estimated to be lower than the carrying amount, the carrying amount is reduced to its recoverable amount. An impairment loss is recognised in the profit and loss account, unless the asset has been revalued when the amount is recognised in other comprehensive income to the extent of any previously recognised revaluation. Thereafter any excess is recognised in profit or loss. If an impairment loss is subsequently reversed, the carrying amount of the asset (or asset’s cash generating unit) is increased to the revised estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the carrying amount that would have been determined (net of depreciation or amortisation) had no impairment loss been recognised in prior periods. A reversal of an impairment loss is recognised in the profit and loss account.

	Inventories
	Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Inventories are recognised as an expense in the period in which the related revenue is recognised. Cost is determined on the standard cost method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the inventory to its present location and condition. The cost of manufactured finished goods and work in progress includes design costs, raw materials, direct labour and other direct costs and related production overheads (based on normal operating capacity). At the end of each reporting period inventories are assessed for impairment. If an item of inventory is impaired, the identified inventory is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

	Cash and cash equivalents
	Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

	Provisions
	i. Provisions Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations might be small. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost. ii. Contingencies Contingent liabilities are not recognised, except those acquired in a business combination. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote. Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

	Financial instruments
	i. Financial assets Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

	ii. Financial liabilities Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates. Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. iii. Offsetting Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

	Distributions to equity holders
	Dividends and other distributions to the company’s shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

	Related party transactions
	The company discloses transactions with related parties which are not wholly owned with the same group. It does not disclose transactions with its parent or with members of the same group that are wholly owned.



2	Critical accounting estimates and judgements

	Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

	The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

	(i) Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 10 for the carrying amount of the property plant and equipment, and note 1 for the useful economic lives for each class of assets.

	(ii) Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 10 for the net carrying amount of the debtors and associated impairment provision.


3	Analysis of turnover						2024		2023
£								£

	Sale of goods						3,237,263		3,159,804
	Services rendered						20,989,116		19,467,957
							24,226,379		22,627,761

	By geographical market:

	UK						24,226,379		22,627,761


4	Operating profit						2024		2023
£								£
	This is stated after charging:

	Depreciation of owned fixed assets						617,691		459,653
	Depreciation of assets held under finance leases and hire purchase contracts						1,284,339		1,037,424
	Amortisation						39,261		39,261
	Operating lease rentals - plant and machinery						2,520		2,520
	Operating lease rentals - land and buildings						608,250		407,846
	Auditors' remuneration for audit services						50,000		50,000
	Auditors' remuneration for other services						45,000		41,100
	Key management personnel compensation (including directors' emoluments)						1,343,677		1,244,907
	Carrying amount of stock sold						12,500		22,000


5	Director's emoluments						2024		2023
£								£

	Emoluments						1,343,677		1,244,907
	Company contributions to defined contribution pension plans						1,321		1,321
							1,344,998		1,246,228


	Highest paid director:
	Emoluments						1,343,677		1,244,907
	Company contributions to defined contribution pension plans						1,321		1,321
							1,344,998		1,246,228


	Number of directors to whom retirement benefits accrued:						2024		2023
Number								Number

	Defined contribution plans						1		1





6	Staff costs						2024		2023
£								£

	Wages and salaries						5,844,532		5,365,221
	Social security costs						702,808		644,707
	Other pension costs						80,012		68,565
							6,627,352		6,078,493


	Average number of employees during the year						Number	Number

	Administration						9		10
	Distribution						67		61
	Sales						8		8
							84		79


7	Interest payable						2024		2023
£								£

	Bank loans and overdrafts						173,192		127,070
	Finance charges payable under finance leases and hire purchase contracts						297,944		342,365
							471,136		469,435


8	Taxation						2024		2023
£								£
	Analysis of charge in period
	Current tax:
	UK corporation tax on profits of the period						(23,087)		(24,144)

	Deferred tax:
	Origination and reversal of timing differences						55,691		(9,620)

	Tax on profit/(loss) on ordinary activities						32,604		(33,764)


	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:

							2024		2023
£								£
	Loss on ordinary activities before tax						(275,179)		(15,945)

	Standard rate of corporation tax in the UK						25%		19%

£								£
	Profit on ordinary activities multiplied by the standard rate of corporation tax						(68,795)		(3,030)

	Effects of:
	Expenses not deductible for tax purposes						165,337		(10,756)
	Enhanced R&D Expenditure						(26,687)		(19,979)
	Capital allowances for period in excess of depreciation						(2,688,785)		(1,624,394)
	Utilisation of tax losses						2,595,843		1,634,015

	Current tax charge for period						(23,087)		(24,144)



9	Intangible fixed assets								£

					Goodwill		Software		Total
					At cost		At cost
£						£		£
	Cost
	At 1 January 2024				255,758		54,742		310,500
	At 31 December 2024				255,758		54,742		310,500

	Amortisation
	At 1 January 2024				51,152		41,056		92,208
	Provided during the year				25,576		13,685		39,261
	At 31 December 2024				76,728		54,741		131,469

	Carrying amount
	At 31 December 2024				179,030		1		179,031
	At 31 December 2023				204,606		13,686		218,292

	Software is being written off in equal annual instalments over its estimated economic life of 4 years.
	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


10	Tangible fixed assets
			Recycling Plant		Plant and machinery		Fixtures, fittings, tools and equipment		Total
			At cost		At cost		At cost
£				£		£		£
	Cost or valuation
	At 1 January 2024		5,744,383		9,407,692		1,860,003		17,012,078
	Additions		440,000		3,856,201		542,928		4,839,129
	Disposals		-		(1,359,150)		-		(1,359,150)
	At 31 December 2024		6,184,383		11,904,743		2,402,931		20,492,057

	Depreciation
	At 1 January 2024		287,219		3,810,680		601,161		4,699,060
	Charge for the year		294,858		1,336,906		270,266		1,902,030
	On disposals		-		(818,640)		-		(818,640)
	At 31 December 2024		582,077		4,328,946		871,427		5,782,450

	Carrying amount
	At 31 December 2024		5,602,306		7,575,797		1,531,504		14,709,607
	At 31 December 2023		5,457,164		5,597,012		1,258,842		12,313,018


							2024		2023
£								£
	Carrying value of plant and machinery and recycling plant included above held under finance leases and hire purchase contracts						11,209,364		9,708,324





11	Stocks						2024		2023
£								£

	Finished goods and goods for resale						12,500		22,000


12	Debtors						2024		2023
£								£

	Trade debtors						3,767,080		3,483,311
	Related company loan debtors						575,000		575,000
	Other debtors						175,057		183,144
	Prepayments and accrued income						907,366		893,683
							5,424,503		5,135,138


13	Creditors: amounts falling due within one year						2024		2023
£								£

	Bank overdrafts						2,772,596		1,708,356
	Obligations under finance lease and hire purchase contracts						2,118,952		2,848,511
	Trade creditors						2,540,634		1,886,947
	Other taxes and social security costs						282,523		308,243
	Other creditors						5,225		5,252
							7,719,930		6,757,309

	All monies due or to become due from the company to the chargee of the bank overdraft and obligations under finance leases and hire purchase contracts are secured by a Debenture and an All Assets Debenture providing a fixed and floating charge over the undertaking and all property and assets present and future.


14	Creditors: amounts falling due after one year						2024		2023
£								£

	Obligations under finance lease and hire purchase contracts						7,057,406		5,218,979


15	Obligations under finance leases and hire purchase						2024		2023
	contracts						£	£

	Amounts payable:
	Within one year						2,118,952		2,848,511
	Within two to five years						6,331,093		3,362,729
	After five years						726,313		1,856,250
							9,176,358		8,067,490



16	Deferred taxation						2024		2023
£								£

	Accelerated capital allowances						3,292,402		(993,147)
	Tax losses carried forward						(2,595,843)		1,634,015
							696,559		640,868


							2024		2023
£								£

	At 1 January						640,868		650,488
	Charged/(credited) to the profit and loss account						55,691		(9,620)
	At 31 December						696,559		640,868



17	Share capital		Nominal		2024		2024		2023
value				Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each			100		100		100


18	Profit and loss account						2024		2023
£								£

	At 1 January						5,270,703		5,252,884
	(Loss)/profit for the financial year						(307,783)		17,819

	At 31 December						4,962,920		5,270,703


19	Other financial commitments

	Total future minimum lease payments under non-cancellable operating leases:
			Land and		Land and
			Buildings		Buildings	Other		Other
			2024		2023		2024		2023
£								£
	Falling due:
	within one year		882,863		600,000		1,260		2,520
	within two to five years		4,932,000		4,400,000		-		1,260
	in over five years		15,271,976		18,000,000		-		-
			21,086,839		23,000,000		1,260		3,780


20	Related party transactions

	The company (a wholly owned subsidiary) has taken advantage of the exemption under FRS 102, Section 33.1A, in that, disclosures need not be given of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member. Included within Related Company Loan Debtors is an amount in the sum of £500,000 (2023 - £500,000) owed by QHF Industrial Investments Ltd, a company in which Mr D Moule is a director and shareholder and which is interest free and repayable on demand. Included within Related Company Loan Debtors is an amount in the sum of £75,000 (2023 - £75,000) owed by Knight Haulage Ltd, a company in which Mr D Moule is a director and shareholder and which is interest free and repayable on demand. Included within Other Debtors is an amount in the sum of £143,000 (2023 - £159,000) which is in relation to vehicle deposits and rent deposits paid to unconnected third party suppliers. See note 5 for disclosure of the director's remuneration. Key management compensation for the year amounted to £1,343,677 (2023 - £1,244,907).


21	Controlling party

	The immediate parent undertaking is WWL Limited. The ultimate controlling party is Mr D Moule.


22	Presentation currency

	The financial statements are presented in Sterling.


23	Legal form of entity and country of incorporation

	Westminster Waste Limited is a private company limited by shares and incorporated in England.


24	Principal place of business

	The address of the company's principal place of business is:

	Westminster House
	Anderson Way
	Belvedere, Kent
	London DA17 6BG