REGISTERED NUMBER:
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RAVEN WASTE PAPER COMPANY LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2020 |
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REGISTERED NUMBER:
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RAVEN WASTE PAPER COMPANY LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2020 |
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RAVEN WASTE PAPER COMPANY LIMITED (REGISTERED NUMBER: 01638665) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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RAVEN WASTE PAPER COMPANY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
69-71 East Street |
Epsom |
Surrey |
KT17 1BP |
RAVEN WASTE PAPER COMPANY LIMITED (REGISTERED NUMBER: 01638665) |
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BALANCE SHEET |
31 AUGUST 2020 |
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31.8.20 | 31.8.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
RAVEN WASTE PAPER COMPANY LIMITED (REGISTERED NUMBER: 01638665) |
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BALANCE SHEET - continued |
31 AUGUST 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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RAVEN WASTE PAPER COMPANY LIMITED (REGISTERED NUMBER: 01638665) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2020 |
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1. | STATUTORY INFORMATION |
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Raven Waste Paper Company Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about Raven Waste Paper Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Office equipment | - |
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Government grants |
Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. |
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With regard to the Covid-19 Government assistance provided in the period under review any " ("furlough") payments have been presented as income and matched to the same period to which the underlying salary costs were expensed. Any unconditional Covid-19 grants received or to which there was absolute entitlement have been recorded as income in the period. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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RAVEN WASTE PAPER COMPANY LIMITED (REGISTERED NUMBER: 01638665) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2020 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Office |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2019 |
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Additions |
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At 31 August 2020 |
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DEPRECIATION |
At 1 September 2019 |
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Charge for year |
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At 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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RAVEN WASTE PAPER COMPANY LIMITED (REGISTERED NUMBER: 01638665) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2020 |
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5. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 September 2019 |
and 31 August 2020 |
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DEPRECIATION |
At 1 September 2019 |
and 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 September 2019 |
and 31 August 2020 |
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NET BOOK VALUE |
At 31 August 2020 |
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At 31 August 2019 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.20 | 31.8.19 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Tax |
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Prepayments and accrued income |
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RAVEN WASTE PAPER COMPANY LIMITED (REGISTERED NUMBER: 01638665) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2020 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.20 | 31.8.19 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Social security and other taxes |
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VAT | 9,633 | 15,495 |
Other creditors |
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Directors' current accounts | 229,071 | 229,071 |
Accruals and deferred income |
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9. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors by virtue of their shareholdings. |