Caird Peckfield Limited Filleted accounts for Companies House (small and micro)

CAIRD PECKFIELD LIMITED - Company Information

false false false false false false false false false true false false false false false false No description of principal activity 2019-07-01 Sage Accounts Production Advanced 2019 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 02433065 2019-07-01 2020-06-30 02433065 2020-06-30 02433065 2019-06-30 02433065 2018-07-01 2019-06-30 02433065 2019-06-30 02433065 core:PlantMachinery 2019-07-01 2020-06-30 02433065 core:FurnitureFittings 2019-07-01 2020-06-30 02433065 core:MotorVehicles 2019-07-01 2020-06-30 02433065 bus:OrdinaryShareClass1 2019-07-01 2020-06-30 02433065 bus:Director6 2019-07-01 2020-06-30 02433065 core:LandBuildings core:OwnedOrFreeholdAssets 2019-06-30 02433065 core:PlantMachinery 2019-06-30 02433065 core:FurnitureFittings 2019-06-30 02433065 core:MotorVehicles 2019-06-30 02433065 core:LandBuildings core:OwnedOrFreeholdAssets 2020-06-30 02433065 core:PlantMachinery 2020-06-30 02433065 core:FurnitureFittings 2020-06-30 02433065 core:MotorVehicles 2020-06-30 02433065 core:WithinOneYear 2020-06-30 02433065 core:WithinOneYear 2019-06-30 02433065 bus:OrdinaryShareClass1 2018-07-01 2019-06-30 02433065 core:ShareCapital 2020-06-30 02433065 core:ShareCapital 2019-06-30 02433065 core:RetainedEarningsAccumulatedLosses 2020-06-30 02433065 core:RetainedEarningsAccumulatedLosses 2019-06-30 02433065 core:LandBuildings core:OwnedOrFreeholdAssets 2019-07-01 2020-06-30 02433065 core:LandBuildings core:OwnedOrFreeholdAssets 2019-06-30 02433065 core:FurnitureFittings 2019-06-30 02433065 bus:SmallEntities 2019-07-01 2020-06-30 02433065 bus:AuditExemptWithAccountantsReport 2019-07-01 2020-06-30 02433065 bus:FullAccounts 2019-07-01 2020-06-30 02433065 bus:SmallCompaniesRegimeForAccounts 2019-07-01 2020-06-30 02433065 bus:PrivateLimitedCompanyLtd 2019-07-01 2020-06-30 02433065 bus:OrdinaryShareClass1 2020-06-30 02433065 bus:OrdinaryShareClass1 2019-06-30

COMPANY REGISTRATION NUMBER: 02433065

Caird Peckfield Limited

Filleted Unaudited Financial Statements

30 June 2020

Caird Peckfield Limited

Balance Sheet

30 June 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	6		208,609	285,345

Current assets

Debtors	7	670,451	1,349,892
Cash at bank and in hand		670,324	1,189,128
		------------	------------
		1,340,775	2,539,020

Creditors: amounts falling due within one year	8	( 889,870)		( 1,400,514)
		------------		------------
Net current assets			450,905	1,138,506
			---------	------------
Total assets less current liabilities			659,514	1,423,851
			---------	------------
Net assets			659,514	1,423,851
			---------	------------

Capital and reserves

Called up share capital	11	2	2
Profit and loss account		659,512	1,423,849
		---------	------------
Shareholder funds		659,514	1,423,851
		---------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Caird Peckfield Limited

Balance Sheet (continued)

30 June 2020

These financial statements were approved by the board of directors and authorised for issue on 30 September 2020 , and are signed on behalf of the board by:

Mr A W Hornshaw
Director

Company registration number: 02433065

Caird Peckfield Limited

Notes to the Financial Statements

Year ended 30 June 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Peckfield Landfill Site, Ridge Road, Micklefield, Leeds, LS25 4DW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to the consideration in exchange for allowing waste to be deposited in the landfill void and disposed of in accordance with all existing legislation. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty, but including landfill tax. Revenue is recognised once the material has passed over the weighbridge and the vehicle has been weighed in and out to obtain the net weight disposed.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property and landfill development	-	Based on the completion of their respective cells
Plant and machinery	-	20% straight line
Fixtures and fittings	-	25% straight line
Motor vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Remediation and aftercare

Landfill site restoration and post closure costs will be covered through third party finance arrangements approved by the Environment Agency.

Financial instruments

The company has not used any non-basic financial instruments in the year.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2019: 7 ).

5. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2020	2019
	£	£
Dividends on equity shares	1,000,000	450,000
	------------	---------

6. Tangible assets

	Freehold property and landfill development costs	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 July 2019 and 30 June 2020	21,633,732	306,387	647	800	21,941,566
	-------------	---------	----	----	-------------
Depreciation
At 1 July 2019	21,348,485	306,387	549	800	21,656,221
Charge for the year	76,687	–	49	–	76,736
	-------------	---------	----	----	-------------
At 30 June 2020	21,425,172	306,387	598	800	21,732,957
	-------------	---------	----	----	-------------
Carrying amount
At 30 June 2020	208,560	–	49	–	208,609
	-------------	---------	----	----	-------------
At 30 June 2019	285,247	–	98	–	285,345
	-------------	---------	----	----	-------------

7. Debtors

	2020	2019
	£	£
Trade debtors	604,988	1,264,400
Other debtors	65,463	85,492
	---------	------------
	670,451	1,349,892
	---------	------------

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	215,378	225,609
Social security and other taxes	267,031	238,807
Other creditors	407,461	936,098
	---------	------------
	889,870	1,400,514
	---------	------------

9. Contingent liabilities

On 9 September 2016, HMRC issued protective assessments against the company in respect of landfill tax and VAT. HMRC have confirmed that these assessments will not be enforced until the conclusion of an investigation in relation to Paragraph 15 of Schedule 5 to the Finance Act 1996 and S72 VAT Act 1994. Given the uncertainty over the amount (if any) and timing of any possible tax and VAT liabilities no provision has been made in the accounts.

10. Financial instruments

The company has not used any non-basic financial instruments in the year.

11. Called up share capital

Issued, called up and fully paid

	2020		2019
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

12. Remediation and aftercare

The company has a liability to make good, monitor and maintain its landfill site for a period of up to 60 years post-closure. The landfill site operated by the company is due to close in 2021 when the licence comes to an end. Future site restoration costs will need to be met from the third-party finance arrangements approved by the Environment Agency. The cover at 30 June 2020 was £2,945,000.

13. Directors' advances, credit and guarantees

There were no directors advances, credits or guarantees during the year.

14. Related party transactions

Related party transactions are undertaken under normal commercial terms.