Bristol & Avon Waste Management Ltd - Period Ending 2016-12-31

Registration number: 04313134

Bristol & Avon Waste Management Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2016

SBMC Business Management Ltd
Accountants
432 Gloucester Road
Horfield
Bristol
BS7 8TX

Bristol & Avon Waste Management Ltd

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Abridged Balance Sheet	4 to 5
Statement of Changes in Equity	6
Notes to the Abridged Financial Statements	7 to 11

Bristol & Avon Waste Management Ltd

Company Information

Director

Mr A Berkely

Company secretary

SBMC Company Secretaries Ltd.

Registered office

432 Gloucester Road Horfield BS7 8TX

Accountants

SBMC Business Management Ltd Accountants 432 Gloucester Road Horfield Bristol BS7 8TX

Page 1

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Bristol & Avon Waste Management Ltd
for the Year Ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bristol & Avon Waste Management Ltd for the year ended 31 December 2016 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Bristol & Avon Waste Management Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bristol & Avon Waste Management Ltd and state those matters that we have agreed to state to the Board of Directors of Bristol & Avon Waste Management Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bristol & Avon Waste Management Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bristol & Avon Waste Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bristol & Avon Waste Management Ltd. You consider that Bristol & Avon Waste Management Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Bristol & Avon Waste Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

SBMC Business Management Ltd
Accountants
432 Gloucester Road
Horfield
Bristol
BS7 8TX

2 October 2017

Page 2

Bristol & Avon Waste Management Ltd

Statement of Comprehensive Income for the Year Ended 31 December 2016

	Note	2016 £	2015 £
Profit for the year		218,858	213,301
Total comprehensive income for the year		218,858	213,301

The notes on pages 7 to 11 form an integral part of these abridged financial statements.

Page 3

Bristol & Avon Waste Management Ltd

(Registration number: 04313134)
Abridged Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	4	149,616	94,894
Current assets
Debtors		950,152	811,078
Cash at bank and in hand		347,041	207,273
		1,297,193	1,018,351
Prepayments and accrued income		26,565	22,956
Creditors: Amounts falling due within one year	5	(925,493)	(692,155)
Net current assets		398,265	349,152
Total assets less current liabilities		547,881	444,046
Provisions for liabilities		(1,236)	(1,644)
Accruals and deferred income		(10,946)	(25,561)
Net assets		535,699	416,841
Capital and reserves
Called up share capital		2	2
Profit and loss account		535,697	416,839
Total equity		535,699	416,841

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

The notes on pages 7 to 11 form an integral part of these abridged financial statements.

Page 4

Bristol & Avon Waste Management Ltd

(Registration number: 04313134)
Abridged Balance Sheet as at 31 December 2016

Approved and authorised by the director on 2 October 2017
 

.........................................

Mr A Berkely

Director

The notes on pages 7 to 11 form an integral part of these abridged financial statements.

Page 5

Bristol & Avon Waste Management Ltd

Statement of Changes in Equity for the Year Ended 31 December 2016

	Share capital £	Profit and loss account £	Total £
At 1 January 2016	2	416,839	416,841
Profit for the year	-	218,858	218,858
Total comprehensive income	-	218,858	218,858
Dividends	-	(100,000)	(100,000)
At 31 December 2016	2	535,697	535,699

	Share capital £	Profit and loss account £	Total £
At 1 January 2015	2	303,538	303,540
Profit for the year	-	213,301	213,301
Total comprehensive income	-	213,301	213,301
Dividends	-	(100,000)	(100,000)
At 31 December 2015	2	416,839	416,841

The notes on pages 7 to 11 form an integral part of these abridged financial statements.

Page 6

Bristol & Avon Waste Management Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

1	General information

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

The address of its registered office is:
432 Gloucester Road
Horfield
BS7 8TX
United Kingdom

The principal place of business is:
Ironchurch Road
Holesmouth
Avonmouth
Bristol
Avon
BS11 9BP
England

These financial statements were authorised for issue by the director on 2 October 2017.

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 abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Property Improvements	10% Straight Line
Plant & Machinery etc	25% Straight Line

Page 7

Bristol & Avon Waste Management Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 35 (2015 - 35).

Page 8

Bristol & Avon Waste Management Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

4	Tangible assets

	Total £
Cost or valuation
At 1 January 2016	590,777
Revaluations	20,744
Additions	63,183
At 31 December 2016	674,704
Depreciation
At 1 January 2016	495,883
Charge for the year	29,205
At 31 December 2016	525,088
Carrying amount
At 31 December 2016	149,616
At 31 December 2015	94,894

Included within the net book value of land and buildings above is £107,866 (2015 - £57,281) in respect of short leasehold land and buildings.
 

5	Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £279,226 (2015 - £258,000).

6

Dividends

	2016	2015
	£	£
Interim dividend of £50,000.00 (2015 - £50,000.00) per ordinary share	100,000	100,000

7	Financial commitments, guarantees and contingencies

The total amount of contingencies not included in the balance sheet is £1,935,593 (2015 - £1,911,024).

Page 9

Bristol & Avon Waste Management Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

8	Related party transactions

Key management compensation

	2016 £	2015 £
Salaries and other short term employee benefits	92,281	87,701

Transactions with directors

2016	At 1 January 2016 £	Advances to directors £	Repayments by director £	At 31 December 2016 £
Mr A Berkely
Directors Loan	52,910	-	-	52,910
Dividends	-	-	(75,000)	(75,000)
Advances	-	80,850	-	80,850
	52,910	80,850	(75,000)	58,760

2015	At 1 January 2015 £	Advances to directors £	Repayments by director £	At 31 December 2015 £
Mr A Berkely
Directors Loan	14,357	-	-	14,357
Dividends	-	-	(50,000)	(50,000)
Advances	-	88,553	-	88,553
	14,357	88,553	(50,000)	52,910

Directors' remuneration

The director's remuneration for the year was as follows:

	2016 £	2015 £
Remuneration	87,469	87,389

Dividends paid to directors

	2016 £	2015 £
Mr A Berkely
Interim Dividends	75,000	50,000

Page 10

Bristol & Avon Waste Management Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

Summary of transactions with other related parties

The company has transactions with several companies which are linked with the director also being a director or shareholder of the company or members of his family being directors or shareholders. The companies are as follows:

K P Berkely is the brother of the director.
C Scannell is a sister of the director,

Bristol & Avon Transport & Recycling Ltd is controlled and owned by members of the director's family.
Terrain Plant Holdings Limited is controlled and owned by members of the director's family.
Bristol & Avon Remediation Ltd is controlled and owned by members of the director's family.
Bristol & Avon Construction Ltd is controlled and owned by members of the director's family.

 The company rented their yard from KP Berkely for £27000 in 2016 of which nil was outstanding at the year end.(2015 £27000).
Mrs C Scannell recieved an interest free loan from the company of £25,000 which was repaid in the year.

The company recharges expenses to Bristol & Avon Transport & Recycling Ltd and has expenses as well , During the year £ 258,744 was recharged (2015 £167,505) with £113,349 outstanding at the year end (2015 £33,962). During the year recharges of £ 510,934 were received (2015 £548,552) with £ 97,283 outstanding at the year end (2015 £ 80,792).
The company has also given an interest free loan repayable on demand from Bristol & Avon Transport & Recycling Ltd.Loan at year end was £52,778 (2015 loan received of £ 24,193 .
The company hires plant from Terrain Plant Holdings Limited to a value of £340,172 (2015 210,550). At the balance sheet date £19,510 was outstanding (2015 £3225l).

The company has also given an interest free repayable on demand loan to Terrain Plant Holdings Limited.,Loan at year end was £ 91,215 (2015 £ 65,115)
The company has given an interest free loan repayable on demand loan to Bristol & Avon Remediation. Loan at year end was £77,765 (2015 £ 77,765 )
The company has given an interest free loan repayable on demand to Bristol and Avon Construction Ltd. Loan at year end was £13,522 (2015 £ 13,522)


 All loans and balances are repayable on demand and are not secured

 

Page 11