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

FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2019 TO 31 DECEMBER 2019

FOR

ADVANCED WASTE SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J T Sullivan

Mr P A Cox

SECRETARY:

Mr J T Sullivan

REGISTERED OFFICE:

Kelsall House

Stafford Court

Stafford Park 1

Telford

Shropshire

TF3 3BD

BUSINESS ADDRESS:

35 Black Moor Road

Ebblake Industrial Estate

Verwood

Dorset

BH31 6AT

REGISTERED NUMBER:

07576995 (England and Wales)

AUDITORS:

Schofields

Chartered Accountants and Statutory Auditors

6th Floor

Dean Park House

Dean Park Crescent

Bournemouth

Dorset

BH1 1HP

FIXED ASSETS

Tangible assets

4

116,030

137,245

CURRENT ASSETS

Debtors

5

3,216,556

2,977,180

Cash at bank and in hand

558,049

1,865,194

3,774,605

4,842,374

CREDITORS

Amounts falling due within one year

6

3,157,808

3,146,956

NET CURRENT ASSETS

616,797

1,695,418

TOTAL ASSETS LESS CURRENT LIABILITIES

732,827

1,832,663

CREDITORS

Amounts falling due after more than one year

7

-

(311

)

PROVISIONS FOR LIABILITIES

8

(8,744

)

(11,314

)

NET ASSETS

724,083

1,821,038

CAPITAL AND RESERVES

Called up share capital

9

250,000

250,000

Retained earnings

474,083

1,571,038

SHAREHOLDERS' FUNDS

724,083

1,821,038

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

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 25 March 2020 and were signed on its behalf by:

Mr J T Sullivan - Director

1.	STATUTORY INFORMATION

Advanced 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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Taxation

Taxation for the period 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 period 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.

Change in accounting reference period

The accounting reference date has been shortened to 31 December 2019 to align year ends with the parent company. The

comparative period represents a twelve month period to 30 June 2019 and is therefore not entirely comparable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 43 (2019 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2019

40,972

22,536

75,109

123,674

262,291

Additions

-

318

-

5,359

5,677

Disposals

-

-

(18,250

)

-

(18,250

)

At 31 December 2019

40,972

22,854

56,859

129,033

249,718

DEPRECIATION

At 1 July 2019

16,712

9,676

22,846

75,812

125,046

Charge for period

4,097

1,006

6,038

8,332

19,473

Eliminated on disposal

-

-

(10,831

)

-

(10,831

)

At 31 December 2019

20,809

10,682

18,053

84,144

133,688

NET BOOK VALUE

At 31 December 2019

20,163

12,172

38,806

44,889

116,030

At 30 June 2019

24,260

12,860

52,263

47,862

137,245

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Trade debtors

3,197,409

2,928,736

Other debtors

19,147

48,444

3,216,556

2,977,180

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Trade creditors

2,589,448

2,715,782

Taxation and social security

459,078

349,538

Other creditors

109,282

81,636

3,157,808

3,146,956

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2019

£

£

Other creditors

-

311

8.	PROVISIONS FOR LIABILITIES

2019

2019

£

£

Deferred tax

8,744

11,314

Deferred

tax

£

Balance at 1 July 2019

11,314

Credit to Income Statement during period

(2,570

)

Balance at 31 December 2019

8,744

The deferred tax provision represents capital allowances in advance of depreciation.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2019

value:

£

£

250,000

Ordinary 'A'

50p

-

125,000

250,000

Ordinary 'B'

50p

-

125,000

500,000

Ordinary

50p

250,000

-

250,000

250,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr P J Schofield FCA (Senior Statutory Auditor)

for and on behalf of Schofields

11.	OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies is £131,662.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 December 2019 and the year ended

30 June 2019:

2019

2019

£

£

Mr M Andrew

Balance outstanding at start of period

10,000

10,000

Amounts repaid

(10,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

10,000

Mrs B L Cahill

Balance outstanding at start of period

10,000

10,000

Amounts repaid

(10,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

10,000

Both Mr M Andrew and Mrs B L Cahill ceased to be directors on 25 October 2019. The loans were unsecured, interest free

and have been fully repaid.

13.	ULTIMATE PARENT COMPANY AND PARENT COMPANY OF LARGER GROUP

The company is a subsidiary undertaking of Reconomy (UK) Limited.

At the balance sheet date, OS Phoenix Midco Limited is the parent undertaking of the largest group for which group

financial statements have been prepared. These consolidated financial statements are available from Companies House.

The ultimate parent undertaking and controlling party is OS Phoenix Topco Limited (registered in Jersey at 11-15 Seaton

Place, St Helier, Jersey JE4 0QH).