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REGISTERED NUMBER: 12903188 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 December 2023

for

Border Plastics Recycling Limited

Border Plastics Recycling Limited (Registered number: 12903188)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Border Plastics Recycling Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C S C Strafford
A J Strafford





REGISTERED OFFICE: Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP





REGISTERED NUMBER: 12903188 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Border Plastics Recycling Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Border Plastics Recycling Limited for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Border Plastics Recycling Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Border Plastics Recycling Limited and state those matters that we have agreed to state to the Board of Directors of Border Plastics Recycling Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Border Plastics Recycling Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Border Plastics Recycling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Border Plastics Recycling Limited. You consider that Border Plastics Recycling Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Border Plastics Recycling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


5 April 2024

Border Plastics Recycling Limited (Registered number: 12903188)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 387,943 334,364
Investments 5 650,000 650,000
1,037,943 984,364

CURRENT ASSETS
Stocks 51,074 67,555
Debtors 6 194,788 202,464
Cash at bank and in hand 277,264 120,168
523,126 390,187
CREDITORS
Amounts falling due within one year 7 453,715 291,941
NET CURRENT ASSETS 69,411 98,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,107,354

1,082,610

CREDITORS
Amounts falling due after more than
one year

8

(29,000

)

(43,500

)

PROVISIONS FOR LIABILITIES (119,986 ) (98,438 )
NET ASSETS 958,368 940,672

Border Plastics Recycling Limited (Registered number: 12903188)

Statement of Financial Position - continued
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 125,100 305,100
Capital redemption reserve 11 525,000 345,000
Retained earnings 11 308,268 290,572
SHAREHOLDERS' FUNDS 958,368 940,672

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:





A J Strafford - Director


Border Plastics Recycling Limited (Registered number: 12903188)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Border Plastics Recycling 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.

Preparation of consolidated financial statements
The financial statements contain information about Border Plastics Recycling Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Motor vehicles - 20% straight line and 33% straight line.
Fixtures and Fittings - 20% straight line and 33% straight line.
Plant and Machinery - 25% straight line, 33% straight line and 20% straight line.
Computer equipment - 20% straight line.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 statement of financial position date.

Border Plastics Recycling Limited (Registered number: 12903188)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 statement of financial position 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.

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 12 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 January 2023 44,749 298,092 44,357
Additions 37,724 84,161 12,035
Disposals - (5,750 ) (5,636 )
At 31 December 2023 82,473 376,503 50,756
DEPRECIATION
At 1 January 2023 - 89,870 3,248
Charge for year - 65,191 8,930
Eliminated on disposal - (2,875 ) (658 )
At 31 December 2023 - 152,186 11,520
NET BOOK VALUE
At 31 December 2023 82,473 224,317 39,236
At 31 December 2022 44,749 208,222 41,109

Border Plastics Recycling Limited (Registered number: 12903188)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 47,199 - 434,397
Additions 25,850 2,500 162,270
Disposals (16,750 ) - (28,136 )
At 31 December 2023 56,299 2,500 568,531
DEPRECIATION
At 1 January 2023 6,915 - 100,033
Charge for year 10,460 500 85,081
Eliminated on disposal (993 ) - (4,526 )
At 31 December 2023 16,382 500 180,588
NET BOOK VALUE
At 31 December 2023 39,917 2,000 387,943
At 31 December 2022 40,284 - 334,364

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 650,000
NET BOOK VALUE
At 31 December 2023 650,000
At 31 December 2022 650,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 159,724 157,932
Prepayments 35,064 44,532
194,788 202,464

Border Plastics Recycling Limited (Registered number: 12903188)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 14,500 14,500
Trade creditors 241,898 74,312
Amounts owed to group undertakings - 13,438
Amounts owed to associates 6,000 -
Corporation tax 64,181 45,521
Social security and other taxes 9,285 7,101
VAT 30,123 35,800
Other creditors 15,381 30,682
Directors' current accounts 10,042 -
Accruals and deferred income 62,305 70,587
453,715 291,941

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 29,000 43,500

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 43,500 58,000

The hire purchase is secured against the asset it relates to.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid: 2023 2022
Number: Class: Nominal value: £   
80 Ordinary A £1 80 80
20 Ordinary B £1 20 20
125,000 Redeemable preference £1 125,000 305,000
125,100 305,100



During the year £180,000 (2022: £180,000) redeemable preference shares were redeemed at £1 per share.

Border Plastics Recycling Limited (Registered number: 12903188)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


11. RESERVES



Capital
redemption
reserve
£   
At 1 January 2023345,000
Purchase of own share 180,000
At 31 December 2023525,000

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
A J Strafford
Balance outstanding at start of year - 2,542
Amounts repaid - (2,542 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan is interest free and repayable on demand.