Waste Transfer Services Ltd
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Registered number: |
09560729
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Balance Sheet |
as at 30 April 2021
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2021 |
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2020 |
£ |
£ |
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Fixed assets |
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1,127,667 |
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1,643,516 |
Current assets |
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299,102 |
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199,298 |
Creditors: amounts falling due within one year |
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(370,562) |
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(515,173) |
Net current liabilities |
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(71,460) |
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(315,875) |
Total assets less current liabilities |
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1,056,207 |
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1,327,641 |
Creditors: amounts falling due after more than one year |
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(754,187) |
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(549,094) |
Accruals and deferred income |
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(1,350) |
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(1,150) |
Net assets |
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300,670 |
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777,397 |
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Capital and reserves |
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300,670 |
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777,397 |
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Number |
Number |
Average number of employees |
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3 |
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3 |
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The company is a private company limited by shares and incorporated in England. Its registered office is Thackwood Material Recycling Facility, Soutwaite, Carlisle, Cumbria, CA4 0PZ. |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the micro entity provisions of the Companies Act 2006 and FRS 105, The Financial Reporting Standard applicable to the Micro-entities Regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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Mr J Shaw |
Director |
Approved by the board on 11 January 2022
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Notes:- |
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1. Turnover |
Turnover has been impacted in the financial year by COVID-19. The global pandemic affected |
the economy as a whole, in particular the UK Lockdowns reduced the volumes of commercial |
waste available as significant parts of UK industry closed. Volumes and revenue had recovered |
to pre COVID-19 levels by the end of the financial year. |
Alongside COVID-19 the business also suffered a total loss fire to the main process shed on |
the 5/6th May, 2020. The Initial impact was to remove all waste processing capability resulting |
in the business effectively closing for three months with no revenues but all the normal operating |
costs. This has reduced year on year revenues and associated profitability. |
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2. Depreciation and other written off assets. |
An exceptional loss of £669,332 was recorded in the year as a result of the fire on site - relating to |
the waste process line that was destroyed beyond economic repair. The waste process line was |
financed on HP. The HP was settled via additional borrowings. |
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Other |
The Business has an ongoing insurance claim outstanding. The Policy was placed through |
AON UK, Via Miles Smith to a group of Insurers led by New India Assurance Company. The |
claim is for £881,870 and is currently sat with the Financial Ombudsman for resolution. The |
Directors feel there is a strong case for the claim to be paid and will consider legal action |
should the Ombudsman process be unsuccessful. |