Oswestry Waste Paper Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07156752 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

OSWESTRY WASTE PAPER LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C M Davies

N R Clarke

A S Marsden

SECRETARY:

A S Marsden

REGISTERED OFFICE:

Recycling UK Limited

10 Portal Business Park

Eaton Lane

Tarporley

Cheshire

CW6 9DL

REGISTERED NUMBER:

07156752 (England and Wales)

SENIOR STATUTORY AUDITOR:

Alastair Jeffcott BA FCA

AUDITORS:

McLintocks Partnership Limited

Chartered Accountants

Statutory Auditors

2 Hilliards Court

Chester Business Park

Chester

Cheshire

CH4 9PX

FIXED ASSETS

Tangible assets

3

836,818

882,244

CURRENT ASSETS

Stocks

37,242

30,605

Debtors

1,951,520

1,764,281

Cash at bank and in hand

160,169

12,517

2,148,931

1,807,403

CREDITORS

Amounts falling due within one year

605,045

602,705

NET CURRENT ASSETS

1,543,886

1,204,698

TOTAL ASSETS LESS CURRENT LIABILITIES

2,380,704

2,086,942

CREDITORS

Amounts falling due after more than one year

(82,856

)

(167,908

)

PROVISIONS FOR LIABILITIES

(139,069

)

(39,859

)

NET ASSETS

2,158,779

1,879,175

CAPITAL AND RESERVES

Called up share capital

120

120

Revaluation reserve

4

379,744

477,555

Retained earnings

1,778,915

1,401,500

SHAREHOLDERS' FUNDS

2,158,779

1,879,175

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 6 October 2017 and were signed on its behalf by:

N R Clarke - Director

A S Marsden - Director

1.	STATUTORY INFORMATION

Oswestry Waste Paper 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the value, net of value added tax and discounts, of goods provided to

customers and work carried out in respect of services provided to customers.

Tangible fixed assets

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

Balers Compactors and Skips

-

Straight line over 15 years

Plant and machinery

-

Straight line over 15 years

Motor vehicles

-

Straight line over 15 years

Office equipment

-

25% on cost

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.

3.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 July 2016

1,610,826

Additions

122,617

Disposals

(24,970

)

Revaluations

(113,040

)

At 30 June 2017

1,595,433

DEPRECIATION

At 1 July 2016

728,582

Charge for year

156,451

Eliminated on disposal

(9,104

)

Revaluation adjustments

(117,314

)

At 30 June 2017

758,615

NET BOOK VALUE

At 30 June 2017

836,818

At 30 June 2016

882,244

Cost or valuation at 30 June 2017 is represented by:

Totals

£

Valuation in 2011

591,930

Valuation in 2012

766,425

Valuation in 2013

(157,915

)

Valuation in 2017

(113,040

)

Cost

508,033

1,595,433

If tangible moveable assets had not been revalued they would have been included at the

following historical cost:

2017

2016

£

£

Cost

1,063,355

1,063,355

Aggregate depreciation

515,179

515,179

Tangible moveable assets were valued on a fair value basis on 13 June 2013 by Keith Higgins (Balers & Aux. Equip) Ltd

.

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

follows:

Totals

£

COST OR VALUATION

At 1 July 2016

462,342

Disposals

(24,970

)

At 30 June 2017

437,372

DEPRECIATION

At 1 July 2016

77,688

Charge for year

45,559

At 30 June 2017

123,247

NET BOOK VALUE

At 30 June 2017

314,125

At 30 June 2016

384,654

4.

RESERVES

Revaluatio

reserve

£

At 1 July 2016

477,555

Moveable asset revaluations

4,273

Deferred Tax revaluation

(102,084

)

At 30 June 2017

379,744

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alastair Jeffcott BA FCA (Senior Statutory Auditor)

for and on behalf of McLintocks Partnership Limited

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Recycling UK Limited.

7.	DEBENTURES

A debenture to secure all monies due from Recycling UK Limited to the chargee was created

on 27 March 2012 in favour of Mrs C M Davies, a director of the company, by way of a fixed

and floating charge over the undertaking and all property and assets present and future.

A debenture to secure all money and liabilities whatever, whenever, and however incurred

from the company to the Bank was created on 30 July 2014 in favour of HSBC Bank plc, by

way of a fixed and floating charge over all the property or undertakings of the company. This

debenture charge has priority over the debenture charge in favour of Mrs C M Davies.