Company registration number 02806147 (England and Wales)
WASTE WAY (SOUTHERN) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
WASTE WAY (SOUTHERN) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
WASTE WAY (SOUTHERN) LIMITED (REGISTERED NUMBER: 02806147)
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
156,271
185,945
Current assets
Debtors
4
262,058
227,985
Cash at bank and in hand
141,185
175,829
403,243
403,814
Creditors: amounts falling due within one year
5
(123,558)
(138,884)
Net current assets
279,685
264,930
Total assets less current liabilities
435,956
450,875
Creditors: amounts falling due after more than one year
6
(35,597)
(54,609)
Provisions for liabilities
(22,598)
(29,581)
Net assets
377,761
366,685
Capital and reserves
Called up share capital
8
10,000
10,000
Profit and loss reserves
367,761
356,685
Total equity
377,761
366,685

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

WASTE WAY (SOUTHERN) LIMITED (REGISTERED NUMBER: 02806147)
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 September 2025 and are signed on its behalf by:
Mr P J Kelly
Director
WASTE WAY (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information

Waste Way (Southern) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Leys Industrial Park, Maidstone Road, Paddock Wood, Tonbridge, Kent, TN12 6QJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- The amount of turnover can be measured reliably;

- It is probable that the company will receive the consideration due under the contract;

- The stage of completion of the contract at the end of the reporting period can be measured reliably and;

- The costs incurred and the costs to complete the contract can be measured reliably

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

WASTE WAY (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
- 5% on cost
Plant and machinery
- 25% on cost
Fixtures, fittings & equipment
- 25% on cost
Motor vehicles
- 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

WASTE WAY (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
10
9
3
Tangible fixed assets
Leasehold improvements
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2024
59,458
95,993
7,641
243,706
406,798
Additions
-
0
-
0
6,415
-
0
6,415
At 31 January 2025
59,458
95,993
14,056
243,706
413,213
Depreciation and impairment
At 1 February 2024
2,973
56,900
5,395
155,585
220,853
Depreciation charged in the year
2,973
9,773
1,313
22,030
36,089
At 31 January 2025
5,946
66,673
6,708
177,615
256,942
Carrying amount
At 31 January 2025
53,512
29,320
7,348
66,091
156,271
At 31 January 2024
56,485
39,093
2,246
88,121
185,945

The net book value of assets held under hire purchase agreements is £32,577 (2024: £62,489).

4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
182,845
192,445
Other debtors
79,213
35,540
262,058
227,985
WASTE WAY (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,168
9,928
Trade creditors
33,921
50,586
Taxation and social security
68,358
61,314
Other creditors
11,111
17,056
123,558
138,884
6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
3,788
14,188
Obligations under finance leases
7
31,809
40,421
35,597
54,609
7
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
8,612
15,182
In two to five years
31,809
40,421
40,421
55,603
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
10,000
10,000
10,000
10,000
WASTE WAY (SOUTHERN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
9
Financial commitments, guarantees and contingent liabilities

The company gives the bank a fixed and floating charge over its assets and undertaking owned now and in the future.

During the 2021 accounting period, the company borrowed £50,000 from its bankers for a bounce-back loan. As part of its loan scheme, the UK government guaranteed the advance and paid the interest and fees due for the first 12 months. At the balance sheet date, £13,956 (2024: £24,116) remained outstanding of the original loan. This loan is subject to interest at 2.5%. This balance is included within creditors due under one year and creditors due over one year on the balance sheet.

10
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
151,830
227,745
11
Directors' transactions

Dividends totalling £40,000 (2024 - £40,000) were paid in the year in respect of shares held by the company's directors.

There is an overdrawn balance in the directors' loan account of £79,213 (2024: £35,000). This amount was repaid within 9 months of the year-end.

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