Wilf Noble Recycling Ltd - Accounts to registrar (filleted) - small 23.2.5
Wilf Noble Recycling Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 |
| FOR |
| WILF NOBLE RECYCLING LTD |
| TRADING AS |
| NOBLE RECYCLING AND SKIP HIRE |
| WILF NOBLE RECYCLING LTD (REGISTERED NUMBER: 09959829) |
| TRADING AS NOBLE RECYCLING AND SKIP HIRE |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 January 2023 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| WILF NOBLE RECYCLING LTD |
| TRADING AS NOBLE RECYCLING AND SKIP HIRE |
| COMPANY INFORMATION |
| for the year ended 31 January 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| WILF NOBLE RECYCLING LTD (REGISTERED NUMBER: 09959829) |
| TRADING AS NOBLE RECYCLING AND SKIP HIRE |
| STATEMENT OF FINANCIAL POSITION |
| 31 January 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| WILF NOBLE RECYCLING LTD (REGISTERED NUMBER: 09959829) |
| TRADING AS NOBLE RECYCLING AND SKIP HIRE |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 January 2023 |
| 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. |
| 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 |
| WILF NOBLE RECYCLING LTD (REGISTERED NUMBER: 09959829) |
| TRADING AS NOBLE RECYCLING AND SKIP HIRE |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 January 2023 |
| 1. | STATUTORY INFORMATION |
| Wilf Noble Recycling Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial |
| Significant judgements and estimates |
| In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates. |
| Critical judgements in applying the company's policies |
| No significant judgements have had to be made by management in preparing these financial statements. |
| Critical accounting estimates and assumptions |
| The directors do not consider that any estimates or assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
| Revenue |
| Revenue represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration. |
| Property, plant and equipment |
| Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses. |
| Depreciation is provided at the following annual rates in order to write off the cost of each asset overs its estimated useful life. |
| Land and buildings | - land not provided, buildings 2% on cost |
| Assets under construction | - not provided until brought into use |
| Improvements to property | - 10% on cost |
| Plant and machinery | - 15% on reducing balance |
| Fixtures and fittings | - 15% on reducing balance |
| Motor vehicles | - 20% on reducing balance |
| Computer equipment | - 25% on cost |
| WILF NOBLE RECYCLING LTD (REGISTERED NUMBER: 09959829) |
| TRADING AS NOBLE RECYCLING AND SKIP HIRE |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 January 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties. |
| 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. |
| Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 acquired under finance lease agreements, including hire purchase agreements, are capitalised and the corresponding liability is included in creditors. Finance lease interest is charged to the profit and loss account on a sum of digits basis over the period of the agreement. Operating lease rentals are charged against profits of the period to which they relate. |
| Pension costs and other post-retirement benefits |
| Payments to defined contribution pension schemes are charged as an expense in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| WILF NOBLE RECYCLING LTD (REGISTERED NUMBER: 09959829) |
| TRADING AS NOBLE RECYCLING AND SKIP HIRE |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 January 2023 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Assets | Improvements |
| under | to | Plant and |
| construction | property | machinery |
| £ | £ | £ |
| COST |
| At 1 February 2022 |
| Additions |
| At 31 January 2023 |
| DEPRECIATION |
| At 1 February 2022 |
| Charge for year |
| At 31 January 2023 |
| NET BOOK VALUE |
| At 31 January 2023 |
| At 31 January 2022 |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 February 2022 |
| Additions |
| At 31 January 2023 |
| DEPRECIATION |
| At 1 February 2022 |
| Charge for year |
| At 31 January 2023 |
| NET BOOK VALUE |
| At 31 January 2023 |
| At 31 January 2022 |
| The net book value of property, plant and equipment includes £ 169,553 (2022 - £ 207,118 ) in respect of assets held under hire purchase contracts. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| WILF NOBLE RECYCLING LTD (REGISTERED NUMBER: 09959829) |
| TRADING AS NOBLE RECYCLING AND SKIP HIRE |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 January 2023 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Hire purchase contracts |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 100,213 | 175,034 |
| Hire purchase creditors are secured on the underlying assets, together with fixed and floating charges covering all company property and undertaking. |
| The Bank loan facility is secured by a legal mortgage over property owned by the company and a fixed charge over other fixed assets owned by the company. |