Abbey Waste Control Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04583514 (England and Wales)

Unaudited Financial Statements For The Year Ended 5th April 2020

for

Abbey Waste Control Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P A A Bonham

Mr T M A Bonham

SECRETARY:

Mr P A A Bonham

REGISTERED OFFICE:

Victory House

245 Southtown Road

Great Yarmouth

Norfolk

NR31 0JJ

REGISTERED NUMBER:

04583514 (England and Wales)

ACCOUNTANTS:

Aston Shaw Ltd

The Union Building

51-59 Rose Lane

Norwich

Norfolk

NR1 1BY

FIXED ASSETS

Intangible assets

4

8,614

8,614

Tangible assets

5

626,613

630,130

Investments

6

86,529

86,529

721,756

725,273

CURRENT ASSETS

Debtors

7

51,926

190,318

Cash at bank

15,290

298

67,216

190,616

CREDITORS

Amounts falling due within one year

8

268,506

401,066

NET CURRENT LIABILITIES

(201,290

)

(210,450

)

TOTAL ASSETS LESS CURRENT LIABILITIES

520,466

514,823

CREDITORS

Amounts falling due after more than one year

9

(140,031

)

(162,556

)

PROVISIONS FOR LIABILITIES

-

(3,840

)

NET ASSETS

380,435

348,427

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Revaluation reserve

11

113,550

113,550

Retained earnings

263,885

231,877

SHAREHOLDERS' FUNDS

380,435

348,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 2020 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 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 and authorised for issue on 8th March 2021 and were signed on its behalf by:

Mr P A A Bonham - Director

1.	STATUTORY INFORMATION

Abbey Waste Control Limited 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of six years.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Freehold property

-

not provided

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Going concern

These financial statements have been prepared on the going concern basis. The Directors consider this basis to be appropriate but have not assessed a period in excess of 12 months from the date of approving the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2019 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Goodwill

licences

Totals

£

£

£

COST

At 6th April 2019

and 5th April 2020

56,800

8,614

65,414

AMORTISATION

At 6th April 2019

and 5th April 2020

56,800

-

56,800

NET BOOK VALUE

At 5th April 2020

-

8,614

8,614

At 5th April 2019

-

8,614

8,614

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST OR VALUATION

At 6th April 2019

and 5th April 2020

610,000

6,064

127,336

DEPRECIATION

At 6th April 2019

-

-

115,613

Charge for year

-

-

2,931

At 5th April 2020

-

-

118,544

NET BOOK VALUE

At 5th April 2020

610,000

6,064

8,792

At 5th April 2019

610,000

6,064

11,723

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 6th April 2019

and 5th April 2020

6,344

48,307

8,865

806,916

DEPRECIATION

At 6th April 2019

5,700

46,608

8,865

176,786

Charge for year

161

425

-

3,517

At 5th April 2020

5,861

47,033

8,865

180,303

NET BOOK VALUE

At 5th April 2020

483

1,274

-

626,613

At 5th April 2019

644

1,699

-

630,130

Cost or valuation at 5th April 2020 is represented by:

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

Valuation in 2018

610,000

6,064

127,336

610,000

6,064

127,336

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Valuation in 2018

6,344

69,302

8,865

827,911

Valuation in 2019

-

(20,995

)

-

(20,995

)

6,344

48,307

8,865

806,916

If Freehold property had not been revalued it would have been included at the following historical cost:

5/4/20

5/4/19

£

£

Cost

496,450

496,450

Value of land in freehold land and buildings

496,450

496,450

Freehold property was valued on an open market basis on 5th April 2016 by the management of the company. .

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 6th April 2019

and 5th April 2020

86,529

NET BOOK VALUE

At 5th April 2020

86,529

At 5th April 2019

86,529

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5/4/20

5/4/19

£

£

Trade debtors

37,923

83,212

Other debtors

13,662

107,088

Prepayments

341

18

51,926

190,318

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5/4/20

5/4/19

£

£

Bank loans and overdrafts

21,472

32,592

Trade creditors

43,091

40,316

Tax

25,729

19,086

Social security and other taxes

6,170

5,387

Pension

1,641

835

VAT

48,221

226,364

Other creditors

119,678

74,072

Accrued expenses

2,504

2,414

268,506

401,066

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5/4/20

5/4/19

£

£

Bank loans - 1-2 years

76,189

86,535

Mortgage

63,842

76,021

140,031

162,556

10.	SECURED DEBTS

The following secured debts are included within creditors:

5/4/20

5/4/19

£

£

Loans

-

185,917

The bank loan from Barclays Bank PLC is secured by a fixed charge over the freehold property owned by the company.

11.

RESERVES

Revaluation

reserve

£

At 6th April 2019

and 5th April 2020

113,550

12.	RELATED PARTY DISCLOSURES

The company received management fees of £592,850 (2019 - £525,458) from Abbeychem Limited, an associated company, under normal terms during the year.

During the year there were bank transfers between the company and Abbeychem Limited, an associated company. At the Balance Sheet date the company owed £44,301 to Abbeychem Limited (2019 - £97,088) and this is included in Other Creditors.

13.	ULTIMATE CONTROLLING PARTY

The company was controlled in this and the preceding period by the Directors by virtue of their shareholdings.