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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
Page
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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
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RECYCLE IT LTD Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Called up share capital not paid
100 
100 
Fixed assets
Tangible assets
63,977 
39,171 
Current assets
Debtors
95,212 
27,030 
Cash at bank and in hand
55,582 
6,907 
150,794 
33,937 
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
Other provisions
(7,454)
- 
Net assets
101,536 
9,412 
Capital and reserves
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
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RECYCLE IT LTD Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 
Depreciation
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 
Net book value
At 31 October 2023
16,687 
47,290 
63,977 
At 31 October 2022
- 
39,171 
39,171 
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RECYCLE IT LTD Notes to the Accounts for the year ended 31 October 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,213 
Trade debtors
89,449 
25,817 
Accrued income and prepayments
5,763 
- 
95,212 
27,030 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
2,296 
- 
Trade creditors
1,595 
742 
Taxes and social security
22,601 
- 
Proposed dividends
40,000 
- 
Other creditors
500 
- 
Loans from directors
27,055 
37,055 
Accruals
- 
7,064 
94,047 
44,861 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
11,834 
18,935 
8
Share capital
2023 
2022 
£ 
£ 
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).
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