| REGISTERED NUMBER: |
| SERIOUS WASTE MANAGEMENT LIMITED |
| REVISED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2024 |
| REGISTERED NUMBER: |
| SERIOUS WASTE MANAGEMENT LIMITED |
| REVISED |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2024 |
| SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662) |
| CONTENTS OF THE REVISED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Revised Financial Statements | 4 |
| SERIOUS WASTE MANAGEMENT LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 424 Margate Road |
| Westwood |
| Ramsgate |
| Kent |
| CT12 6SJ |
| SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662) |
| REVISED |
| BALANCE SHEET |
| 31 JULY 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 | 825,898 | 607,069 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662) |
| REVISED |
| BALANCE SHEET - continued |
| 31 JULY 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662) |
| NOTES TO THE REVISED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 1. | REVISED FINANCIAL STATEMENTS |
| The financial statements for the year ended 31 July 2024 have been revised. |
| They |
| - |
| - |
| - |
| The financial statements are being revised to correct the audit opinion included within the auditor's report. The original financial statements incorrectly included a qualified audit opinion. The audit opinion should have been unqualified. No other amendments have been made to the financial statements. |
| The auditor's report has been amended to replace the qualified audit opinion with an unqualified audit opinion. There have been no changes to the figures, notes, disclosures, profit for the year, net assets or shareholders' funds previously reported. |
| 2. | STATUTORY INFORMATION |
| Serious Waste Management Limited is a |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixture & Fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662) |
| NOTES TO THE REVISED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| 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 measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and | Fixture & | Motor |
| machinery | Fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 August 2023 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 July 2024 |
| DEPRECIATION |
| At 1 August 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 July 2024 |
| NET BOOK VALUE |
| At 31 July 2024 |
| At 31 July 2023 |
| SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662) |
| NOTES TO THE REVISED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 6. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Sundry debtors |
| Serious Waste Holdings Limited | 2,486,446 | 2,235,564 |
| Serious About Parts Limited | 250 | 250 |
| Directors' current accounts | 80,607 | 35,000 |
| Tax |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Corporation Tax |
| Social security and other taxes |
| VAT | 78,251 | 92,529 |
| Sundry creditors |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans due more than 1 yr |
| Hire purchase contracts |
| SERIOUS WASTE MANAGEMENT LIMITED (REGISTERED NUMBER: 03045662) |
| NOTES TO THE REVISED FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| Emphasis of matter |
| I draw attention to note one of the revised financial statements, which describes The financial statements have been revised because the auditor's report included in the original financial statements incorrectly stated that the audit opinion was qualified. The auditor's opinion for the year ended 31 July 2024 was unqualified. No changes have been made to the financial statements, accounting policies, figures or disclosures previously reported. The original financial statements were approved on 18 March 2025 and my previous audit report was signed on 18 March 2025. I have not performed a subsequent events review for the period from the date of my previous auditors' report to the date of this report. My opinion is not modified in this respect. |
| for and on behalf of |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| Serious Waste Holdings Limited (Company No. 12970312) holds 100% of the issued share capital of the company. |