Land Recovery North West Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—7

1. General Information

Land Recovery North West Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01727314 . The registered office is 5 Mitchell Court, Castle Mound way, Rugby , Warwickshire, CV23 0UY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

2.2. Going Concern Disclosure

The directors note the general risk factors and uncertainties of the current economic environment, but notwithstanding those factors neither the company nor the group are considered to face a threat to their ability to continue in operational existence for the period of at least 12 months from the date of signing this report. Accordingly, the financial statements have been prepared on a going concern basis.

2.3. Significant judgements and estimations

In application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carry amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based historical experience and other factors that are considered relevant. Actual results may differ from the estimates.

The estimates and underlying assumptions are reviewed on a going basis. Revision to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision effects both current and future periods.

2.4. Turnover

Turnover is recognised at fair value of the consideration received or receivable for goods and 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.

Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the company (usually on disposal of waste to the landfill), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Future costs of restoration are depreciated by reference to the volume of waste deposited.

Permits are depreciated over their useful life.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	No depreciation provided
Leasehold	By void usage

Landfill lining by reference to volume of waste deposited.

Assets under contruction by reference to volume of waste deposited.

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

Following the purchase of the company by the group , the company has adpoted the group policy for the treatment of costs relating to the landfill site. The work in progress has been capitlised and is being written off as per the policies above.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that these assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

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Land Recovery North West Ltd

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2024

2.7. Investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

2.8. Stocks and Work in Progress

Long term contracts

Long term contracts are assessed on a contract by contract basis. Where the outcome of each long term contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the profit and loss as the difference between the reported revenue and related cost for the contract. Proft is not taken until the outcome of contracts based on valuations by officials of the company can be assessed with reasonable certainty.

Landfill sites are treated as long term contracts. Where freehold or leasehold landfill sites have identifiable future use, the attributable cost thereof is included in fixed assets or where appropriate development land. The cost of landfill sites held within inventories comprise the initial site purchase cost plus any other costs incurred in prepraring the site to receive waste. These costs are charged to the profit and loss over the life of the site in line with the utilisaiton of capicity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price costs to complete and sell is recognised as impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit and loss.

Following the purchase of the company by the Everwaste Solutions Limited group the policy has changed. Landfill sites are treated as fixed assets rather than long term contracts. The work in progress value has therefore been capitalised.

2.9. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.10. Financial Instruments

The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, witht the net amounts presented in the financial statements, when there is a legally enforeceable right to set off the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simunltaneously.

2.11. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Land Recovery North West Ltd

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2024

2.12. Provisions and Contingencies

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 may 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.

Restoration and aftercare provisions

Restoration

Full provision is made for the net present value (NPV) of the Company's minimum unavoidable costs in respect of the restoration liabilities at the landfill site which have been capitalised in tangible fixed assets. The group continues to provide for all after care costs over the life of the landfill site based on the volume of waste deposited in the year.

Aftercare

Provision for the care and monitoring of the site post closure is made on the Director's best estimate of future aftercare requirements for the site as a whole for a period of 60 years following the estimated final closure of the landfill as required by the Landfill Directive.

The long term provisions for restoration and aftercare costs are calculated on the NPV of estimated future costs. Current cost estimates are inflated at 3% and discounted at 5% to calculate the NPV. The effect of the unwinding of the discount element is reflected as a finance cost.

Contingencies

Contingent liabilities are not recognised. 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.

2.13. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.14. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the period was: NIL (2024: 4)

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Land Recovery North West Ltd

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2024

4. Intangible Assets

	Other
	£
Cost
As at 1 October 2024	-
Additions	188,967

As at 31 December 2024	188,967

Amortisation
As at 1 October 2024	-
Provided during the period	47,242

As at 31 December 2024	47,242

Net Book Value
As at 31 December 2024	141,725

As at 1 October 2024	-

5. Tangible Assets

	Land & Property
	Freehold	Leasehold	Total
	£	£	£
Cost
As at 1 October 2024	-	-	-
Additions	566,251	1,470,665	2,036,916

As at 31 December 2024	566,251	1,470,665	2,036,916

Net Book Value
As at 31 December 2024	566,251	1,470,665	2,036,916

As at 1 October 2024	-	-	-

6. Investments

	Unlisted
	£
Cost
As at 1 October 2024	2

As at 31 December 2024	2

Provision
As at 1 October 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	2

As at 1 October 2024	2

Subsidiaries

Details of the company's subsidiaries as at 31 December 2024 are as follows:

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Land Recovery North West Ltd

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2024

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Land Recovery North West (Arden) Limited	5 Mitchell Court, Castle Mound Way, Rugby, Warwickshire, England, CV23 0UY	Ordinary	100.00%	-
Land Recovery North West (Clockface) Limited	Clockface Quarry Inert Site Saddlesworth Road, Barkisland, Halifax, England, HX8 0DY	Ordinary	100.00%	-

7. Stocks

	31 December 2024	30 September 2024
	£	£
Work in progress	-	2,347,012

8. Debtors

	31 December 2024	30 September 2024
	£	£
Due within one year
Other debtors	96,033	72,829

9. Creditors: Amounts Falling Due Within One Year

	31 December 2024	30 September 2024
	£	£
Trade creditors	113,969	-
Amounts owed to group undertakings	25,863	-
Amounts owed to participating interests	1,845	-
Other creditors	37,323	-

	179,000	-

Amounts owed to group undertakings are interest-free and repaybale on demand.

10. Provisions for Liabilities


	Other Provisions	Total
	£	£
As at 1 October 2024	1,620,063	1,620,063
Additions	68,619	68,619
Reversals	(14,369 )	(14,369)

Balance at 31 December 2024	1,674,313	1,674,313

Restoration costs

The provision for restoration costs represents an estimate of the future costs to restore the landfill site to its original condition. During the year there has been a change in the assumption of the future capping costs by management. As the site comes closer to closure, management has a more accurate view if the costs to complete the capping of landfill which is how the change in assumption has occureed.

After care costs

Provision for the care and monitoring of the site post closure is made on the Director's best estimate of future aftercare requirements for the site for a period of 60 years following the estimated final closure of the landfill as required by the Landfill Directive.

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Land Recovery North West Ltd

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2024

11. Share Capital

	31 December 2024	30 September 2024
	£	£
Allotted, Called up and fully paid	2,000	2,000

12. Post Balance Sheet Events

On the 12 February 2025 the entire share capital of Fenix Bridge Investments Limited, the ulitmate parent company, was purchased by Fenix Bridge Holdings Limited. The ulitmate controlling party remains I Fenny.

On the 26 March 2025 Land Recovery North West (Clockface) Limited and also the Clockface quarry site were sold to Yorkshire Soils Restoration Ltd.

13. Related Party Disclosures

The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

Davidson Property and Developement Limited

Under the same control

During the year the company purchased goods and serivce from Davidson Property and Development Limited. At the period end £1,845 was due to them.

14. Controlling Parties

The company's immediate parent undertaking is Everwaste Solutions Limited .

The ultimate parent undertaking is Fenix Bridge Investments Limited (incorporated in England & Wales). Its registered office is Henge Barn, Pury Hill Business Park, Alderton Road, Paulerspury, Towcester, England, NN12 7LS .

Copies of the group accounts may be obtained from the company's registered office.

The company's ultimate controlling party is I Fenny by virtue of their interest in the share capital of the company.

15. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

16. Audit Information

The auditor's report on the accounts of Land Recovery North West Ltd for the period ended 31 December 2024 was unqualified.

The auditor's report was signed by K R Witchell (Senior Statutory Auditor) for and on behalf of KRW Accountants Ltd , Statutory Auditor.

KRW Accountants Ltd

Henge Barn Pury Hill Business Park

Alderton Road

Towcester

Northamptonshire

NN12 7LS

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		31 December 2024		30 September 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		141,725		-
Tangible Assets	5		2,036,916		-
Investments	6		2		2

			2,178,643		2
CURRENT ASSETS
Stocks	7	-		2,347,012
Debtors	8	96,033		72,829

		96,033		2,419,841
Creditors: Amounts Falling Due Within One Year	9	(179,000 )		-

NET CURRENT ASSETS (LIABILITIES)			(82,967 )		2,419,841

TOTAL ASSETS LESS CURRENT LIABILITIES			2,095,676		2,419,843

PROVISIONS FOR LIABILITIES
Provisions For Charges	10		(1,674,313 )		(1,620,063 )

NET ASSETS			421,363		799,780

CAPITAL AND RESERVES
Called up share capital	11		2,000		2,000
Profit and Loss Account			419,363		797,780

SHAREHOLDERS' FUNDS			421,363		799,780