Alpha Waste Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06733841 (England and Wales)

Alpha Waste Solutions Ltd

Unaudited Financial Statements

for the Year Ended

31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Vernon

Mrs P Vernon

REGISTERED OFFICE:

5 Clarendon Place

Leamington Spa

Warwickshire

CV32 5QL

BUSINESS ADDRESS:

Unit 22 Rochester Trade Park

Maidstone Road

Rochester

Kent

ME1 3QY

REGISTERED NUMBER:

06733841 (England and Wales)

ACCOUNTANTS:

Moffat Gilbert

5 Clarendon Place

Leamington Spa

Warwickshire

CV32 5QL

SOLICITORS:

Cripps LLP

Number 22

Mount Ephraim

Tunbridge Wells

Kent

TN4 8AS

FIXED ASSETS

Intangible assets

4

12,677

5,386

Tangible assets

5

90,319

90,368

102,996

95,754

CURRENT ASSETS

Stocks

269,055

216,119

Debtors

6

713,550

390,137

Cash at bank and in hand

40,630

40,425

1,023,235

646,681

CREDITORS

Amounts falling due within one year

7

813,232

528,257

NET CURRENT ASSETS

210,003

118,424

TOTAL ASSETS LESS CURRENT LIABILITIES

312,999

214,178

CREDITORS

Amounts falling due after more than one year

8

367,500

287,500

NET LIABILITIES

(54,501

)

(73,322

)

CAPITAL AND RESERVES

Called up share capital

10

125

125

Retained earnings

11

(54,626

)

(73,447

)

SHAREHOLDERS' FUNDS

(54,501

)

(73,322

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 29 May 2019 and were signed on its behalf by:

P A Vernon - Director

1.	STATUTORY INFORMATION

Alpha Waste Solutions Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared using the going concern basis as the director is implementing procedures to

control cost and improve profitability to return the company to profit within the forthcoming twelve months from

the date of this report.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.3% on cost, 25% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2018

5,497

Additions

9,121

At 31 March 2019

14,618

AMORTISATION

At 1 April 2018

111

Charge for year

1,830

At 31 March 2019

1,941

NET BOOK VALUE

At 31 March 2019

12,677

At 31 March 2018

5,386

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

230,584

Additions

1,912

At 31 March 2019

232,496

DEPRECIATION

At 1 April 2018

140,216

Charge for year

1,961

At 31 March 2019

142,177

NET BOOK VALUE

At 31 March 2019

90,319

At 31 March 2018

90,368

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

593,966

276,059

Amounts owed by group undertakings

10

10

Other debtors

7,290

6,995

MMB Environmental Ltd

92,375

88,444

Prepayments

19,909

18,629

713,550

390,137

The above trade debtors have elements assigned in trust in favour of Ultimate Finance Limited. The extent of this

liability on debtors at the year end is £99,639.

Included within debtors is an amount of £92,375 (2018 £88,444) that is due after more than one year.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

635,050

298,491

Tax

11

-

Social security and other taxes

4,429

4,418

VAT

51,103

123,662

Other creditors

523

873

Amount owed to factor

99,639

89,233

Accrued expenses

22,477

11,580

813,232

528,257

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Other loans - 2-5 years

367,500

287,500

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.19

31.3.18

£

£

Within one year

40,590

42,130

Between one and five years

295

41,004

40,885

83,134

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

125

Ordinary

£1

125

125

11.

RESERVES

Retained

earnings

£

At 1 April 2018

(73,447

)

Profit for the year

18,821

At 31 March 2019

(54,626

)

12.	CONTINGENT GAIN

Within other debtors is the sum of £92,375 (2018 £88,444) which comprises costs identified as recoverable from

third parties in a future legal case to be actioned. The director has taken legal advice and the opinion of the

company's legal advisors is that there is a 60% to 65% chance of success of recovery. Based on this opinion, the

costs are not written off and are essentially being carried forward as a contingent gain. If the case were not to

succeed, further exceptional costs of £92,375 would, therefore, need to be written off.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end £6,995 was owed to the company by one of the directors. This amount has since been repaid in

full.

14.	RELATED PARTY DISCLOSURES

During the year, the company was provided with further funding from Valley of the Moon Holdings Inc, a

shareholder of the parent undertaking, 3rd Time's The Charm Limited. The balance owed to Valley of the Moon

Holdings Inc at the year end was £367,500 (2018 £287,500). There is no agreed repayment term for this liability.

15.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of 3rd Time's The Charm Limited, a company registered in England.

The registered office address of 3rd Time's The Charm Limited is 5 Clarendon Place Leamington Spa

Warwickshire.