C&L Waste Oil Collection Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04221018 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2020

FOR

C&L WASTE OIL COLLECTION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R P Marjoram

J Fox

SECRETARY:

Mrs S Sargeant

REGISTERED OFFICE:

Lothing House

Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 2HD

REGISTERED NUMBER:

04221018 (England and Wales)

ACCOUNTANTS:

Juler Tooke

Lothing House

Quay View Business Park

Barnards Way

Lowestoft

Suffolk

NR32 3HD

FIXED ASSETS

Intangible assets

4

350

700

Tangible assets

5

74,957

73,926

75,307

74,626

CURRENT ASSETS

Stocks

564

564

Debtors

6

67,769

80,478

Cash at bank and in hand

11,787

16,238

80,120

97,280

CREDITORS

Amounts falling due within one year

7

(69,533

)

(75,647

)

NET CURRENT ASSETS

10,587

21,633

TOTAL ASSETS LESS CURRENT LIABILITIES

85,894

96,259

CREDITORS

Amounts falling due after more than one year

8

(33,701

)

(31,618

)

PROVISIONS FOR LIABILITIES

(14,242

)

(14,046

)

NET ASSETS

37,951

50,595

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

37,851

50,495

SHAREHOLDERS' FUNDS

37,951

50,595

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 29 September 2020 and were signed on its behalf by:

J Fox - Director

1.	STATUTORY INFORMATION

C&L Waste Oil Collection 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2019

and 31 May 2020

7,000

AMORTISATION

At 1 June 2019

6,300

Charge for year

350

At 31 May 2020

6,650

NET BOOK VALUE

At 31 May 2020

350

At 31 May 2019

700

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2019

164,446

Additions

42,583

Disposals

(38,450

)

At 31 May 2020

168,579

DEPRECIATION

At 1 June 2019

90,520

Charge for year

22,402

Eliminated on disposal

(19,300

)

At 31 May 2020

93,622

NET BOOK VALUE

At 31 May 2020

74,957

At 31 May 2019

73,926

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

57,166

71,125

Other debtors

10,603

9,353

67,769

80,478

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade creditors

54,124

50,971

Taxation and social security

15,409

17,350

Other creditors

-

7,326

69,533

75,647

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.20

31.5.19

£

£

Hire purchase contracts

33,701

31,618

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.20

31.5.19

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 June 2019

50,495

Profit for the year

57,632

Dividends

(70,276

)

At 31 May 2020

37,851

11.	ULTIMATE CONTROLLING PARTY