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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
Page
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Shred & Recycle Limited Company Information for the year ended 31 December 2023
Director
Andrew Baldry
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
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Shred & Recycle Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
644 
- 
Tangible assets
581,851 
349,652 
582,495 
349,652 
Current assets
Inventories
27,550 
23,050 
Debtors
74,016 
31,748 
Cash at bank and in hand
1,013 
29,929 
102,579 
84,727 
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 
Capital and reserves
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
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Shred & Recycle Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
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.
Turnover
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
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 taxation
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.
Pension costs
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.
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Shred & Recycle Limited Notes to the Accounts for the year ended 31 December 2023
Leased assets
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
- 
Additions
966 
At 31 December 2023
966 
Amortisation
At 1 January 2023
- 
Charge for the year
322 
At 31 December 2023
322 
Net book value
At 31 December 2023
644 
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 
Depreciation
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 
Net book value
At 31 December 2023
464,449 
117,402 
581,851 
At 31 December 2022
315,816 
33,836 
349,652 
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Shred & Recycle Limited Notes to the Accounts for the year ended 31 December 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
38,844 
16,880 
Trade debtors
35,172 
12,797 
Accrued income and prepayments
- 
450 
Other debtors
- 
1,621 
74,016 
31,748 
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 
Accruals
9,187 
8,737 
231,003 
174,506 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
239,086 
58,399 
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).
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