LINCWASTE LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At 31 December 2024 the Company had net liabilities of £114.2million and net current liabilities of £113.8million. The Company does not have a bank account. It is a subsidiary within the FCC Environment (UK) Limited ('FCC E UK') group of companies whose banking, invoicing and collections and payables and procurement services are grouped and managed via an agency agreement with a fellow subsidiary of FCC E UK, FCC Recycling (UK) Limited ('FCC R'). All cash movements relating to the Company's transactions are processed through the banking facilities of FCC R and form a part of the inter-company balances between the Company and FCC R. In consideration of this arrangement, the directors have obtained a letter of support from FCC E UK. In providing this letter of support, FCC E UK have obtained a letter of support from FCC Servicios Medio Ambiente Holding, S.A. through the going concern period in connection with the expected liability as a result of the landfill tax enquiry as disclosed in note 16. The Directors have assessed the responses from their enquiries to the immediate parent company, FCC E UK, in connection with the agency agreement and have reviewed projected cash flows, and carefully considered the risks to the Company's trading performance and cash flows. They have considered the 12 month period following the date of approval of the financial statements and have identified no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern. The Directors therefore continue to adopt the going concern basis in preparing the Annual report and financial statements.”

Significant events

• “The Company is the subject of an HMRC enquiry ('the Enquiry') regarding Landfill Tax compliance as part of HMRC concerns regarding possible misclassification of waste across the industry.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -22.5%

  £9,361,000 → £7,256,000

• Cash

  —

  Not reported

• Net assets

  -12,914.3%

  £891,000 → -£114,175,000

• Employees

  -9.5%

  21 → 19

• Operating profit

  -2,586.6%

  £4,647,000 → -£115,551,000

• Profit before tax

  -3,071.2%

  £3,913,000 → -£116,263,000

• Wages

  -25.2%

  £535,000 → £400,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers