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REGISTERED NUMBER: SC096881 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

CLYDE RECYCLING LIMITED

CLYDE RECYCLING LIMITED (REGISTERED NUMBER: SC096881)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLYDE RECYCLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: T. K. Ritchie





SECRETARY: Mrs K T Ritchie





REGISTERED OFFICE: Unit 3
1650 London Road
GLASGOW
G31 4QG





REGISTERED NUMBER: SC096881 (Scotland)





ACCOUNTANT: John Murphy & Company (Scotland) Limited
Chartered Accountants
Castle Chambers
67 Main Street
Bothwell
Lanarkshire
G71 8ER

CLYDE RECYCLING LIMITED (REGISTERED NUMBER: SC096881)

BALANCE SHEET
31 MARCH 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 649,602 630,754
Investment property 5 - 55,490
649,602 686,244

CURRENT ASSETS
Stocks 6 49,247 36,503
Debtors 7 205,243 238,033
Cash at bank and in hand 1,204,401 1,459,785
1,458,891 1,734,321
CREDITORS
Amounts falling due within one year 8 275,730 517,767
NET CURRENT ASSETS 1,183,161 1,216,554
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,832,763

1,902,798

PROVISIONS FOR LIABILITIES 9 13,839 18,288
NET ASSETS 1,818,924 1,884,510

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,818,824 1,884,410
SHAREHOLDERS' FUNDS 1,818,924 1,884,510

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CLYDE RECYCLING LIMITED (REGISTERED NUMBER: SC096881)

BALANCE SHEET - continued
31 MARCH 2022


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 director and authorised for issue on 26 August 2022 and were signed by:





T. K. Ritchie - Director


CLYDE RECYCLING LIMITED (REGISTERED NUMBER: SC096881)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Clyde Recycling Limited is a private company, limited by shares , registered in Scotland. 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.

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.

Rents receivable under operating leases are included in other operating income on an accruals basis.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land & buildings - 2% on cost of buildings
Plant and machinery etc. - 20% on cost and 15% on cost

CLYDE RECYCLING LIMITED (REGISTERED NUMBER: SC096881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 66 (2021 - 69 ) .

4. TANGIBLE FIXED ASSETS

Land and buildings includes land at a cost of £303,808 (2021 = £303,808) which has not been depreciated.

5. INVESTMENT PROPERTY

Investment property formerly let to third parties has now been reclassified as land and buildings.

6. STOCKS
31.3.22 31.3.21
£    £   
Stock 49,247 36,503

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 106,425 92,438
Other debtors 7,321 28,843
VAT 40,548 26,000
Prepayments 50,949 90,752
205,243 238,033



8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Advance payments - 326,934
Trade creditors 118,121 50,565
Corporation tax 33,532 23,468
Payroll taxation 14,489 9,769
Other creditors 71,786 71,786
Directors' current accounts 3,806 3,806
Accrued charges 33,996 31,439
275,730 517,767

9. PROVISIONS FOR LIABILITIES
31.3.22 31.3.21
£    £   
Deferred tax 13,839 18,288

Deferred
tax
£   
Balance at 1 April 2021 18,288
Provided during year (4,449 )
Balance at 31 March 2022 13,839

CLYDE RECYCLING LIMITED (REGISTERED NUMBER: SC096881)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

10. ULTIMATE CONTROLLING PARTY

The controlling party is T. K. Ritchie.