Company Registration No. 12932017 (England and Wales)
RECYCLE IT LTD
Unaudited accounts
for the year ended 31 October 2023
RECYCLE IT LTD
Unaudited accounts
Contents
RECYCLE IT LTD
Company Information
for the year ended 31 October 2023
Director
James Michael Patrick RYAN
Company Number
12932017 (England and Wales)
Registered Office
FLAT 8 WENGHAM HOUSE SUNDEW AVENUE
LONDON
W12 0RN
ENGLAND
RECYCLE IT LTD
Statement of financial position
as at 31 October 2023
Called up share capital not paid
100
100
Tangible assets
63,977
39,171
Cash at bank and in hand
55,582
6,907
Creditors: amounts falling due within one year
(94,047)
(44,861)
Net current assets/(liabilities)
56,747
(10,924)
Total assets less current liabilities
120,824
28,347
Creditors: amounts falling due after more than one year
(11,834)
(18,935)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
101,436
9,312
Shareholders' funds
101,536
9,412
For the year ending 31 October 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 2 April 2024 and were signed on its behalf by
James Michael Patrick RYAN
Director
Company Registration No. 12932017
RECYCLE IT LTD
Notes to the Accounts
for the year ended 31 October 2023
RECYCLE IT LTD is a private company, limited by shares, registered in England and Wales, registration number 12932017. The registered office is FLAT 8 WENGHAM HOUSE SUNDEW AVENUE, LONDON, W12 0RN, ENGLAND.
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.
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
18% reducing balance
Motor vehicles
18% reducing balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 November 2022
-
53,866
53,866
Additions
20,350
18,500
38,850
At 31 October 2023
20,350
72,366
92,716
At 1 November 2022
-
14,695
14,695
Charge for the year
3,663
10,381
14,044
At 31 October 2023
3,663
25,076
28,739
At 31 October 2023
16,687
47,290
63,977
At 31 October 2022
-
39,171
39,171
RECYCLE IT LTD
Notes to the Accounts
for the year ended 31 October 2023
Amounts falling due within one year
Trade debtors
89,449
25,817
Accrued income and prepayments
5,763
-
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
22,601
-
Proposed dividends
40,000
-
Loans from directors
27,055
37,055
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
11,834
18,935
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).