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REGISTERED NUMBER: 07196179 (England and Wales)












EAST LINCS RECYCLING SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






EAST LINCS RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07196179)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


EAST LINCS RECYCLING SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: N J Hales





REGISTERED OFFICE: Glebe Farm
Little Grimsby
Louth
Lincolnshire
LN11 0UT





REGISTERED NUMBER: 07196179 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe (Louth)
Chartered Certified Accountants
1 Eastgate
Louth
Lincolnshire
LN11 9NB

EAST LINCS RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07196179)

ABRIDGED BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 567,903 574,493

CURRENT ASSETS
Stocks 89,452 65,069
Debtors 253,269 268,372
Cash at bank and in hand 366,485 199,501
709,206 532,942
CREDITORS
Amounts falling due within one year 269,651 417,288
NET CURRENT ASSETS 439,555 115,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,007,458

690,147

CREDITORS
Amounts falling due after more than one year - (36,034 )

PROVISIONS FOR LIABILITIES (132,174 ) (103,728 )
NET ASSETS 875,284 550,385

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 875,184 550,285
SHAREHOLDERS' FUNDS 875,284 550,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

EAST LINCS RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07196179)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:





N J Hales - Director


EAST LINCS RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07196179)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

East Lincs Recycling Solutions 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.

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.
Plant and machinery - 15% on reducing balance
Office equipment - 33% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


EAST LINCS RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07196179)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. 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.

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
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.

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.

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 7 (2022 - 6 ) .

EAST LINCS RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07196179)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 1,070,220
Additions 133,564
Disposals (112,825 )
At 31 March 2023 1,090,959
DEPRECIATION
At 1 April 2022 495,727
Charge for year 90,596
Eliminated on disposal (63,267 )
At 31 March 2023 523,056
NET BOOK VALUE
At 31 March 2023 567,903
At 31 March 2022 574,493

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022 138,803
Reclassification/transfer (138,803 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 42,729
Reclassification/transfer (42,729 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 96,074

EAST LINCS RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07196179)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 55,770

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100