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Registration number: 03629750

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 11

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

Company Information

Directors

Ms H A Jones Mr J E Jones

Registered office

Llys Deri Parc Pensarn Carmarthen SA31 2NF

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

(Registration number: 03629750)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	-	14,600
Tangible assets	5	695,189	733,958
Investment property	6	97,558	97,558
		792,747	846,116
Current assets
Debtors	8	198,999	195,856
Other financial assets	7	253,800	282,000
Cash at bank and in hand		163,255	105,466
		616,054	583,322
Creditors: Amounts falling due within one year	9	(228,258)	(212,854)
Net current assets		387,796	370,468
Total assets less current liabilities		1,180,543	1,216,584
Creditors: Amounts falling due after more than one year	9	(13,474)	(12,597)
Provisions for liabilities		(48,370)	(48,370)
Net assets		1,118,699	1,155,617
Capital and reserves
Called up share capital	10	10,000	10,000
Retained earnings		1,108,699	1,145,617
Shareholders' funds		1,118,699	1,155,617

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 November 2026 and signed on its behalf by:
 

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

(Registration number: 03629750)
Balance Sheet as at 31 December 2025

......................................... Mr J E Jones Director

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

The principal place of business is:
Cillefwr Industrial Estate
Johnstown
Carmarthen
SA31 3RB

These financial statements were authorised for issue by the Board on 4 November 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land sites	No depreciation & 15% Straight Line
Plant & Machinery including Containers & Portcabins	20% Straight Line
Office & Computer Equipment	20% Straight Line
Motor Vehicles	25% straight Line
Transfer Station & Building	5% & 10% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	15% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year
was 10 (2024 - 11).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2025	146,000	146,000
At 31 December 2025	146,000	146,000
Amortisation
At 1 January 2025	131,400	131,400
Amortisation charge	14,600	14,600
At 31 December 2025	146,000	146,000
Carrying amount
At 31 December 2025	-	-
At 31 December 2024	14,600	14,600

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6	Investment properties

	2025 £
At 1 January	97,558
At 31 December	97,558

There has been no valuation of investment property by an independent valuer.

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Current financial assets
Cost or valuation
At 1 January 2025	282,000	282,000
Disposals	(28,200)	(28,200)
At 31 December 2025	253,800	253,800
Impairment
Carrying amount
At 31 December 2025	253,800	253,800

8

Debtors

Current	2025 £	2024 £
Trade debtors	198,999	195,446
Other debtors	-	410
	198,999	195,856

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	11	5,290	9,627
Trade creditors		97,367	96,999
Taxation and social security		40,665	27,923
Directors' loan accounts		84,069	78,305
Other creditors		867	-
		228,258	212,854

Creditors: amounts falling due after more than one year

Carmarthenshire Recycling & Environmental Services Ltd

trading as C.R.E.S.

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	11	13,474	12,597

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Shares of £1 each	10,000	10,000	10,000	10,000

11	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	6,039
Other borrowings	13,474	6,558
	13,474	12,597

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,290	9,627