WCG Environmental Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09923902

WCG ENVIRONMENTAL LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

WCG ENVIRONMENTAL LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

WCG ENVIRONMENTAL LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		331,879		323,214

CURRENT ASSETS

Stocks		6,385	6,040
Debtors	7	551,033	397,789
Cash at bank and in hand		84,577	9,968
		----------	----------
		641,995	413,797

CREDITORS: amounts falling due within one year	8	563,879		579,324
		----------		----------
NET CURRENT ASSETS/(LIABILITIES)			78,116		( 165,527)
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			409,995		157,687

CREDITORS: amounts falling due after more than one year	9		119,656		61,052

PROVISIONS	10	61,655	28,315
		----------	----------
NET ASSETS		228,684	68,320
		----------	----------

WCG ENVIRONMENTAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

	2024		2023
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	228,584	68,220
	----------	---------
SHAREHOLDERS FUNDS	228,684	68,320
	----------	---------

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 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr T Hemingway
Director

Company registration number: 09923902

WCG ENVIRONMENTAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1 Alert House, Dannemora Close, Greenland Industrial Estate, Sheffield, S9 5DF.

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, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

T he preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Current and deferred tax

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. Cost includes costs directly attributable to making the asset capable of operating as intended.

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 and machinery	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Office Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants receivable relating to Covid-19 are accounted for under the accrual method and recognised immediately as income in the Statement of Income and Retained Earnings. Where applied for and received these grants include payments under the Coronavirus Job Retention Scheme (furlough payments), Small Business Grant and interest paid by the Government during the first 12 months of Bounce Bank Loans. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Provisions

Provisions are recognised when the entity has a present legal or constructive 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 measured at the present value of the expenditures expected to be required to settle the obligation taking into account the risks and uncertainties surrounding the obligation.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2023: 14 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 January 2024 and 31 December 2024	500
	----
Amortisation
At 1 January 2024 and 31 December 2024	500
	----
Carrying amount
At 31 December 2024	–
	----
At 31 December 2023	–
	----

6. Tangible assets

	Plant and machinery	Motor vehicles	Office equipment	Total
	£	£	£	£
Cost
At 1 January 2024	262,615	278,346	10,315	551,276
Additions	52,089	53,835	929	106,853
Disposals	( 21,750)	( 41)	–	( 21,791)
	----------	----------	---------	----------
At 31 December 2024	292,954	332,140	11,244	636,338
	----------	----------	---------	----------
Depreciation
At 1 January 2024	140,628	79,664	7,770	228,062
Charge for the year	20,969	64,854	637	86,460
Disposals	( 10,063)	–	–	( 10,063)
	----------	----------	---------	----------
At 31 December 2024	151,534	144,518	8,407	304,459
	----------	----------	---------	----------
Carrying amount
At 31 December 2024	141,420	187,622	2,837	331,879
	----------	----------	---------	----------
At 31 December 2023	121,987	198,682	2,545	323,214
	----------	----------	---------	----------

7. Debtors

	2024	2023
	£	£
Trade debtors	370,127	204,790
Prepayments and accrued income	997	1,225
Corporation tax repayable	28,164	39,769
Director's loan account	115,574	109,737
Other debtors	36,171	42,268
	----------	----------
	551,033	397,789
	----------	----------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	107,716	188,703
Accruals and deferred income	9,616	11,085
Social security and other taxes	211,016	247,836
Obligations under finance leases and hire purchase contracts	40,031	16,293
Corporation tax	1,970	–
Amount due to factoring company	182,794	105,110
Other creditors	736	297
	----------	----------
	563,879	579,324
	----------	----------

The following liabilities disclosed under creditors falling due within one year are secured by the company:

	31 Dec 24	31 Dec 23
	£	£
Hire purchase creditors	40,031	16,293
Factoring creditor	182,794	105,110
	----------	----------
	222,825	121,403
	----------	----------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	4,279	14,279
Obligations under finance leases and hire purchase contracts	115,377	46,773
	----------	---------
	119,656	61,052
	----------	---------

The following liabilities disclosed under creditors falling due within one year are secured by the company:

	31 Dec 24	31 Dec 23
	£	£
Hire purchase agreements	115,377	46,773
	----------	---------

10. Provisions

	Deferred tax (note 11)
	£
At 1 January 2024	28,315
Additions	33,340
	---------
At 31 December 2024	61,655
	---------

11. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions (note 10)	61,655	28,315
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	61,655	28,315
	---------	---------

12. Director's advances, credits and guarantees

The shareholder's loan account was overdrawn by £115,574 (2023: £109,737) at the year end. This was the maximum amount outstanding during the year.