ACCOUNTS - Final Accounts preparation

CHESTERFIELD SKIP HIRE LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31falsefalse00true2021-01-01No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03374866 2021-01-01 2021-12-31 03374866 2020-01-01 2020-12-31 03374866 2021-12-31 03374866 2020-12-31 03374866 c:Director2 2021-01-01 2021-12-31 03374866 d:Buildings 2021-12-31 03374866 d:Buildings 2020-12-31 03374866 d:CurrentFinancialInstruments 2021-12-31 03374866 d:CurrentFinancialInstruments 2020-12-31 03374866 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03374866 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 03374866 d:ShareCapital 2021-12-31 03374866 d:ShareCapital 2020-12-31 03374866 d:RetainedEarningsAccumulatedLosses 2021-12-31 03374866 d:RetainedEarningsAccumulatedLosses 2020-12-31 03374866 c:FRS102 2021-01-01 2021-12-31 03374866 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 03374866 c:FullAccounts 2021-01-01 2021-12-31 03374866 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 03374866 2 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 03374866

CHESTERFIELD SKIP HIRE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

CHESTERFIELD SKIP HIRE LIMITED

REGISTERED NUMBER: 03374866

BALANCE SHEET

AS AT 31 DECEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	5		59,273		59,273
Current assets
Debtors: amounts falling due within one year	6	10,048		-
Cash at bank and in hand		22,300		22,456
		32,348		22,456
Creditors: amounts falling due within one year	7	(4,183)		(5,052)
Net current assets			28,165		17,404
Total assets less current liabilities			87,438		76,677

Net assets			87,438		76,677

Capital and reserves
Called up share capital	1	1
Profit and loss account	87,437	76,676
	87,438	76,677

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 June 2022.

Mr D S Hopkinson

Director

The notes on pages 3 to 6 form part of these financial statements.

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CHESTERFIELD SKIP HIRE LIMITED

REGISTERED NUMBER: 03374866

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2021

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CHESTERFIELD SKIP HIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1.	General information

Chesterfield Skip Hire Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 03374866). Its registered office is Slittingmill Recycling Centre, Eckington Road, Staveley, Chesterfield, Derbyshire S43 3YQ. The principal activity of the Company throughout the year continued to be that of the letting of a landfill site.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentational currency is pounds sterling.

The following principal accounting policies have been applied:

2.2

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

2.3

Rental income

Rental income from operating leases is credited to profit or loss on a straight line basis over the lease term.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Land is not depreciated.

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CHESTERFIELD SKIP HIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.7

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements
A critical judgement in preparing the financial statements was the accounting treatment of the landfill site, which has to date been shown as a tangible fixed asset at cost. Whilst the landfill site is let out and the Company receives rental income, this is on an informal basis as well as not being at a market level of rent, and is to the Company's immediate parent undertaking. Given there is no formal letting agreement in place, in addition to the unusual nature of the landfill site, the director does not consider it appropriate to treat this as an investment property and hold this at fair value. The landfill site therefore continues to be treated as a tangible fixed asset valued at cost.
There are no critical accounting estimates and assumptions required in the preparation of the financial statements.

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CHESTERFIELD SKIP HIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Employees

The average monthly number of employees, including directors, during the year was 0 (2020 - 0).

5.	Tangible fixed assets

		Freehold property
		£
	Cost
	At 1 January 2021	59,273
	At 31 December 2021	59,273

	Net book value
	At 31 December 2021	59,273
	At 31 December 2020	59,273

Debtors

					2021	2020
					£	£


Amounts owed by group undertakings	10,048	-

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	1,659	1,656
Amounts owed to group undertakings	-	946
Corporation tax	2,524	2,450
	4,183	5,052

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CHESTERFIELD SKIP HIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

8.	Controlling party

Hopkinson Reclamation Limited is the Company's immediate parent undertaking and Hopkinson Waste Holdings Ltd is the ultimate parent undertaking. Mr D S Hopkinson, who controls 60% of the shares of Hopkinson Waste Holdings Ltd, is the Company's ultimate controlling party.

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