Caseware UK (AP4) 2023.0.135 2023.0.135 2022-07-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07210738 2022-07-01 2023-06-30 07210738 2021-06-01 2022-06-30 07210738 2023-06-30 07210738 2022-06-30 07210738 c:Director1 2022-07-01 2023-06-30 07210738 d:PlantMachinery 2022-07-01 2023-06-30 07210738 d:PlantMachinery 2023-06-30 07210738 d:PlantMachinery 2022-06-30 07210738 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07210738 d:MotorVehicles 2022-07-01 2023-06-30 07210738 d:MotorVehicles 2023-06-30 07210738 d:MotorVehicles 2022-06-30 07210738 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07210738 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 07210738 d:CurrentFinancialInstruments 2023-06-30 07210738 d:CurrentFinancialInstruments 2022-06-30 07210738 d:Non-currentFinancialInstruments 2023-06-30 07210738 d:Non-currentFinancialInstruments 2022-06-30 07210738 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 07210738 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 07210738 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 07210738 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 07210738 d:ShareCapital 2023-06-30 07210738 d:ShareCapital 2022-06-30 07210738 d:RetainedEarningsAccumulatedLosses 2023-06-30 07210738 d:RetainedEarningsAccumulatedLosses 2022-06-30 07210738 c:FRS102 2022-07-01 2023-06-30 07210738 c:Audited 2022-07-01 2023-06-30 07210738 c:FullAccounts 2022-07-01 2023-06-30 07210738 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07210738 c:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure
Registered number: 07210738













Recycool (Plasterboard) Limited

Annual report - filing copy

30 June 2023




 
Recycool (Plasterboard) Limited


Balance sheet
At 30 June 2023

2023
Unaudited 2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,360,143
1,872,623

Current assets
  

Debtors
 6 
27,174
1,331,616

Creditors: amounts falling due within one year
 7 
(431,250)
(1,923,899)

Net current liabilities
  
 
 
(404,076)
 
 
(592,283)

Total assets less current liabilities
  
956,067
1,280,340

Creditors: amounts falling due after more than one year
 8 
(206,130)
(517,490)

Provisions for liabilities
  

Deferred tax
  
(273,488)
(372,008)

Net assets
  
476,449
390,842


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
476,349
390,742

  
476,449
390,842


The financial statements have been prepared 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.

As permitted by the provisions applicable to companies subject to the small companies' regime, the directors have opted not to file the statement of comprehensive income.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 July 2024.




I Bainbridge
Director
Company registered number: 07210738

The notes on pages 2 to 6 form part of these financial statements.

1

 
Recycool (Plasterboard) Limited
 
 

Notes to the financial statements
Year ended 30 June 2023

1.


General information

Recycool (Plasterboard) Limited (‘the company’) is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales. The address of its registered office is given in the company information page of this annual report.

2.


Statement of compliance

The financial statements have been prepared in accordance with United Kingdom Accounting Standards, including Section 1A of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (‘FRS 102’), and the Companies Act 2006.

3.Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

 
3.1

Basis of preparation of financial statements

These financial statements are prepared on a going concern basis and under the historical cost convention. They are presented in pounds sterling and rounded to the nearest pound.

  
3.2

Going concern

The company meets its working capital requirements through its cash balances and operating cash flows. 
The director has prepared financial forecasts which, having regard for reasonably possible changes in trading performance as a result of the current economic environment, indicate that the company will maintain sufficient financial headroom to enable it to continue meeting its liabilities as they fall due in the normal course of business for at least the next twelve months following approval of these financial statements. 
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

 
3.3

Revenue

Turnover comprises revenue recognised in respect of services supplied during the year, net of discounts and excluding Value Added Tax.
Turnover is recognised as services are provided. Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

2

 
Recycool (Plasterboard) Limited
 

 
Notes to the financial statements
Year ended 30 June 2023

3.Accounting policies (continued)

  
3.4

Taxation

The taxation expense for the year comprises current and deferred tax and is recognised in the profit and loss account. 
Current tax is the amount of income tax payable in respect of the taxable profit for the current or past reporting periods. It is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date.  
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences arise from the inclusion of transactions and events in the financial statements in periods different from those in which they are assessed for tax. 
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. 
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. 

 
3.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost, less accumulated depreciation and accumulated impairment losses. 
 
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their estimated useful lives as follows: 

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance

Asset residual values and useful lives are reviewed at the end of each reporting period, and adjusted if appropriate. The effect of any change is accounted for prospectively. 

  
3.6

Leased assets

Assets held under finance leases and hire purchase contracts, which confer rights and obligations on the company similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future lease obligations are recorded as liabilities, and the interest elements are charge to the profit and loss account over the period of the leases to produce a constant periodic rate of charge on the remaining balance of the liability. 

3

 
Recycool (Plasterboard) Limited
 

 
Notes to the financial statements
Year ended 30 June 2023

3.Accounting policies (continued)

 
3.7

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, cash and bank balances, bank loans and loans to or from related parties, including fellow group companies. 
All such instruments are due within one year and are measured, initially and subsequently, at the transaction price. 
At the end of each reporting period, financial assets are assessed for impairment, and their carrying  value reduced if necessary. Any impairment charge is recognised in the profit and loss account. 


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost


At 1 July 2022 (unaudited)
3,780,511
486,369
4,266,880


Disposals
(76,500)
(195,272)
(271,772)



At 30 June 2023

3,704,011
291,097
3,995,108



Depreciation


At 1 July 2022 (unaudited)
1,991,080
403,177
2,394,257


Charge for the year
445,629
18,833
464,462


Disposals
(49,563)
(174,191)
(223,754)



At 30 June 2023

2,387,146
247,819
2,634,965



Net book value



At 30 June 2023
1,316,865
43,278
1,360,143



At 30 June 2022 (unaudited)
1,789,431
83,192
1,872,623

4

 
Recycool (Plasterboard) Limited
 
 

Notes to the financial statements
Year ended 30 June 2023

6.


Debtors

2023
Unaudited 2022
£
£


Trade debtors
27,174
-

Amounts owed by group undertakings
-
1,331,616

27,174
1,331,616



7.


Creditors: amounts falling due within one year

2023
Unaudited 2022
£
£

Amounts owed to group undertakings
55,450
-

Corporation tax
53,860
134,878

Other taxation and social security
5,966
1,397,400

Obligations under finance lease and hire purchase contracts
311,359
388,906

Accruals and deferred income
4,615
2,715

431,250
1,923,899



8.


Creditors: amounts falling due after more than one year

2023
Unaudited 2022
£
£

Obligations under finance leases and hire purchase contracts
206,130
517,490



9.


Controlling party

The immediate parent undertaking is Plasterboard Recycling Group Ltd. The ultimate parent undertaking, and the only group to consolidate these financial statements is EVB Holdings Ltd. The address of the registered office of EVB Holdings Ltd is Hill Top Farm, Winston, Darlington, County Durham, DL2 3RR. Copies of EVB Holdings Ltd consolidated financial statements can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
The company considers I Bainbridge to be the ultimate controlling party.

5

 
Recycool (Plasterboard) Limited
 
 

Notes to the financial statements
Year ended 30 June 2023

10.


Audit information

The auditor's report on the financial statements for the year ended 30 June 2023 was unqualified.

The audit report was signed on 26 July 2024 by Martin Cross PhD BSc FCA (senior statutory auditor) on behalf of UNW LLP.

6