HT Waste Recycling Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04119808 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2021

for

HT Waste Recycling Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B A Holloway

S J Taylor

Mrs J F Holloway

SECRETARIES:

B A Holloway

Mrs J F Holloway

REGISTERED OFFICE:

90-92 High Street

Evesham

Worcestershire

WR11 4EU

REGISTERED NUMBER:

04119808 (England and Wales)

ACCOUNTANTS:

Attwoods

90-92 High Street

Evesham

Worcestershire

WR11 4EU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,774,800

1,722,046

1,774,800

1,722,046

CURRENT ASSETS

Stocks

30,500

29,000

Debtors

6

310,511

513,188

Cash at bank and in hand

526,893

515,047

867,904

1,057,235

CREDITORS

Amounts falling due within one year

7

600,921

792,570

NET CURRENT ASSETS

266,983

264,665

TOTAL ASSETS LESS CURRENT LIABILITIES

2,041,783

1,986,711

CREDITORS

Amounts falling due after more than one year

8

(100,350

)

(123,598

)

PROVISIONS FOR LIABILITIES

(355,523

)

(279,541

)

NET ASSETS

1,585,910

1,583,572

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,585,810

1,583,472

1,585,910

1,583,572

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 20 January 2022 and were signed on its behalf by:

B A Holloway - Director

S J Taylor - Director

Mrs J F Holloway - Director

1.	STATUTORY INFORMATION

HT Waste Recycling 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.

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 aquisition of a business in 2000, has been amortised over its estimated useful life of 20 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

13.5% on reducing balance

Office equipment

-

25% on reducing balance

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 46 (2020 - 41 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2020

and 31 October 2021

15,000

AMORTISATION

At 1 November 2020

and 31 October 2021

15,000

NET BOOK VALUE

At 31 October 2021

-

At 31 October 2020

-

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Office

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 November 2020

148,338

3,769,114

21,561

3,939,013

Additions

75,744

320,481

2,472

398,697

Disposals

-

(233,500

)

-

(233,500

)

At 31 October 2021

224,082

3,856,095

24,033

4,104,210

DEPRECIATION

At 1 November 2020

74,787

2,124,273

17,907

2,216,967

Charge for year

16,803

240,267

1,129

258,199

Eliminated on disposal

-

(145,756

)

-

(145,756

)

At 31 October 2021

91,590

2,218,784

19,036

2,329,410

NET BOOK VALUE

At 31 October 2021

132,492

1,637,311

4,997

1,774,800

At 31 October 2020

73,551

1,644,841

3,654

1,722,046

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 November 2020

691,338

Additions

248,518

Transfer to ownership

(275,502

)

At 31 October 2021

664,354

DEPRECIATION

At 1 November 2020

192,177

Charge for year

65,229

Transfer to ownership

(92,700

)

At 31 October 2021

164,706

NET BOOK VALUE

At 31 October 2021

499,648

At 31 October 2020

499,161

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Trade debtors

299,308

236,298

Amounts owed by group undertakings

-

250,000

Other debtors

-

7,438

Prepayments and accrued income

11,203

19,452

310,511

513,188

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Other loans

-

250,000

Hire purchase contracts

172,631

149,376

Trade creditors

135,096

119,536

Taxation

105,359

98,123

Social security and other taxes

24,188

21,107

VAT

119,816

108,680

Other creditors

23

-

Credit card

3,904

4,094

Net wages

218

218

Accruals and deferred income

39,686

41,436

600,921

792,570

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.21

31.10.20

£

£

Hire purchase contracts

100,350

123,598