Company Registration No. 05868077 (England and Wales)
Shred & Recycle Limited
Unaudited accounts
for the year ended 31 December 2023
Shred & Recycle Limited
Unaudited accounts
Contents
Shred & Recycle Limited
Company Information
for the year ended 31 December 2023
Company Number
05868077 (England and Wales)
Registered Office
The New Farmhouse
Houghton Hill Farm
Houghton
Huntingdon
PE28 2DH
Accountants
Calm & Considered Accounting Ltd
5 Mandeville Road
Brampton
Huntingdon
PE28 4SB
Shred & Recycle Limited
Statement of financial position
as at 31 December 2023
Tangible assets
581,851
349,652
Cash at bank and in hand
1,013
29,929
Creditors: amounts falling due within one year
(231,003)
(174,506)
Net current liabilities
(128,424)
(89,779)
Total assets less current liabilities
454,071
259,873
Creditors: amounts falling due after more than one year
(239,086)
(58,399)
Provisions for liabilities
Deferred tax
(42,803)
(65,151)
Net assets
172,182
136,323
Called up share capital
2
2
Profit and loss account
172,180
136,321
Shareholders' funds
172,182
136,323
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 April 2024 and were signed on its behalf by
Andrew Baldry
Director
Company Registration No. 05868077
Shred & Recycle Limited
Notes to the Accounts
for the year ended 31 December 2023
Shred & Recycle Limited is a private company, limited by shares, registered in England and Wales, registration number 05868077. The registered office is The New Farmhouse, Houghton Hill Farm, Houghton, Huntingdon, PE28 2DH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Shred & Recycle Limited
Notes to the Accounts
for the year ended 31 December 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2023
681,429
132,569
813,998
Additions
389,951
112,335
502,286
Disposals
(230,555)
(56,060)
(286,615)
At 31 December 2023
840,825
188,844
1,029,669
At 1 January 2023
365,613
98,733
464,346
Charge for the year
154,591
12,628
167,219
On disposals
(143,828)
(39,919)
(183,747)
At 31 December 2023
376,376
71,442
447,818
At 31 December 2023
464,449
117,402
581,851
At 31 December 2022
315,816
33,836
349,652
Shred & Recycle Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
35,172
12,797
Accrued income and prepayments
-
450
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
80,413
58,685
Trade creditors
119,040
88,500
Taxes and social security
19,351
14,818
Other creditors
2,603
3,355
Loans from directors
409
411
8
Creditors: amounts falling due after more than one year
2023
2022
Aggregate of amounts that fall due for payment after five years
-
7,115
The company has a bank loan secured by the government over a 10 year period. Interest is charged at 2.5% per annum. The liability at the year end was £25,015 (2022: £34,915).
9
Average number of employees
During the year the average number of employees was 14 (2022: 14).