Kenbury Wood Limited - Period Ending 2023-03-31

Kenbury Wood Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

Kenbury Wood Limited

Company Information

Directors

S E P Hadley E A Delve

Registered office

Units 1-2 Mulberry Court Lustleigh Close Marsh Barton Exeter EX2 8PW

Bankers

Lloyds Bank plc 234 High Street Exeter Devon EX4 3ZB

Auditors

PKF Francis Clark Statutory Auditor Centenary House Peninsula Park Rydon Lane Exeter Devon EX2 7XE

Kenbury Wood Limited

Balance Sheet

31 March 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	32,362	33,615
Current assets
Stocks	5	-	35,979
Debtors	6	253,975	522,192
Cash at bank and in hand		-	162,654
		253,975	720,825
Creditors: Amounts falling due within one year	7	(418,568)	(734,913)
Net current liabilities		(164,593)	(14,088)
Net (liabilities)/assets		(132,231)	19,527
Capital and reserves
Called up share capital	8	100	100
Profit and loss account		(132,331)	19,427
Shareholders' (deficit)/funds		(132,231)	19,527

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Company Registration Number: 02001194

Approved and authorised by the Board on 12 December 2023 and signed on its behalf by:
 

......................................... E A Delve Director

Kenbury Wood Limited

Notes to the Financial Statements

Year Ended 31 March 2023

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Units 1-2
Mulberry Court
Lustleigh Close
Marsh Barton
Exeter
EX2 8PW

These financial statements were authorised for issue by the Board on 12 December 2023.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The Company and wider Group has continued to focus on delivering its strategic plan to maintain diversity through creating a balance of core services, develop niche markets and services, and focus on recycling and recovering natural resources from the material it manages.

Having considered the Company and Wider Group's forecasts and available bank facilities, the directors have continued to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover represents amounts chargeable in respect of the sale of recovered materials and provision of recycling services to group companies and is shown net of VAT. Revenue is recognised when the service is provided or recycled materials sold.

Tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRS 102.

Tangible assets

All fixed assets are initially recorded at cost.

Kenbury Wood Limited

Notes to the Financial Statements

Year Ended 31 March 2023

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	10% straight line
Freehold Property	2% straight line

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Leases

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

 Recognition and measurement
Short-term trade and other debtors and creditors including intercompany loans

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment (“doubtful debts”) are recognised in the profit and loss account before operating profit.

 

3	Staff numbers

All staff are employed by Coastal UK Resources LTD. Payroll costs are recharged from this company as appropriate. Consequently Kenbury Wood Limited has 0 employees.

Kenbury Wood Limited

Notes to the Financial Statements

Year Ended 31 March 2023

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 April 2022	62,907	62,907
At 31 March 2023	62,907	62,907
Depreciation
At 1 April 2022	29,292	29,292
Charge for the year	1,253	1,253
At 31 March 2023	30,545	30,545
Carrying amount
At 31 March 2023	32,362	32,362
At 31 March 2022	33,615	33,615

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings and £32,362 (2022 - £33,615) in respect of long leasehold land and buildings. Ground rent of £15,000 per annum is payable.
 

5

Stocks

	2023 £	2022 £
Other inventories	-	35,979

6

Debtors

	2023  £	2022  £
Trade debtors	8,346	9,430
Amounts due from group undertakings	109,515	384,490
Other debtors	114,629	112,644
Prepayments	21,485	15,628
	253,975	522,192

Kenbury Wood Limited

Notes to the Financial Statements

Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

	2023  £	2022  £
Due within one year
Trade creditors	135,649	318,339
Other creditors	6,823	5,807
Accrued expenses	276,096	410,767
	418,568	734,913

8	Share capital

Allotted, called up and fully paid shares

	2023		2022
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

9	Financial commitments and contingent liabilities

The total amount of financial commitments not included in the balance sheet is £44,656 (2022 - £61,339). This relates to plant and machinery held by the company under operating lease.

10	Parent and ultimate parent undertaking

The company's immediate parent is Coastal Waste Recycling Limited, incorporated in England and Wales.

 The ultimate controlling party is The Coastal Recycling Holdings Employee Ownership Trust. Further details on which are set out within the notes to the consolidated accounts of Coastal Recycling Holdings Limited.

 The smallest group producing publicly available financial statements is Coastal Recycling Holdings Limited. These financial statements are available upon request from Companies House.

 

11	Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Neil Hitchings, who signed for and on behalf of PKF Francis Clark on 12 December 2023.