Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01falseNo description of principal activity1516truetrue SC268901 2023-04-01 2024-03-31 SC268901 2022-04-01 2023-03-31 SC268901 2024-03-31 SC268901 2023-03-31 SC268901 c:Director3 2023-04-01 2024-03-31 SC268901 c:Director4 2023-04-01 2024-03-31 SC268901 c:RegisteredOffice 2023-04-01 2024-03-31 SC268901 d:Buildings 2023-04-01 2024-03-31 SC268901 d:Buildings 2024-03-31 SC268901 d:Buildings 2023-03-31 SC268901 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC268901 d:PlantMachinery 2023-04-01 2024-03-31 SC268901 d:PlantMachinery 2024-03-31 SC268901 d:PlantMachinery 2023-03-31 SC268901 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC268901 d:MotorVehicles 2023-04-01 2024-03-31 SC268901 d:MotorVehicles 2024-03-31 SC268901 d:MotorVehicles 2023-03-31 SC268901 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC268901 d:FurnitureFittings 2023-04-01 2024-03-31 SC268901 d:FurnitureFittings 2024-03-31 SC268901 d:FurnitureFittings 2023-03-31 SC268901 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC268901 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC268901 d:OtherPropertyPlantEquipment 2024-03-31 SC268901 d:OtherPropertyPlantEquipment 2023-03-31 SC268901 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC268901 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC268901 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 SC268901 d:FreeholdInvestmentProperty 2024-03-31 SC268901 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 SC268901 d:FreeholdInvestmentProperty 3 2023-04-01 2024-03-31 SC268901 d:CurrentFinancialInstruments 2024-03-31 SC268901 d:CurrentFinancialInstruments 2023-03-31 SC268901 d:Non-currentFinancialInstruments 2024-03-31 SC268901 d:Non-currentFinancialInstruments 2023-03-31 SC268901 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 SC268901 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC268901 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 SC268901 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC268901 d:ShareCapital 2024-03-31 SC268901 d:ShareCapital 2023-03-31 SC268901 d:InvestmentPropertiesRevaluationReserve 2024-03-31 SC268901 d:InvestmentPropertiesRevaluationReserve 2023-03-31 SC268901 d:RetainedEarningsAccumulatedLosses 2024-03-31 SC268901 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC268901 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC268901 c:OrdinaryShareClass1 2024-03-31 SC268901 c:OrdinaryShareClass1 2023-03-31 SC268901 c:FRS102 2023-04-01 2024-03-31 SC268901 c:Audited 2023-04-01 2024-03-31 SC268901 c:FullAccounts 2023-04-01 2024-03-31 SC268901 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC268901 d:WithinOneYear 2024-03-31 SC268901 d:WithinOneYear 2023-03-31 SC268901 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC268901 2 2023-04-01 2024-03-31 SC268901 f:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC268901










EAGLE RECYCLING (UK) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
EAGLE RECYCLING (UK) LIMITED
 

COMPANY INFORMATION


Directors
Mr R Purvis 
Mr C R Purvis 




Registered number
SC268901



Registered office
New Thistle House
Lochview Industrial Estate

Lochgelly

Fife

KY5 9HG




Independent auditors
Sumer Auditco Limited
Chartered Accountants and Statutory Auditors

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
EAGLE RECYCLING (UK) LIMITED
REGISTERED NUMBER: SC268901

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
2,498,103
2,063,276

Investment property
 5 
150,000
-

  
2,648,103
2,063,276

Current assets
  

Stocks
  
145,488
103,250

Debtors: amounts falling due within one year
 6 
763,781
1,027,006

Cash at bank and in hand
  
82,262
536,019

  
991,531
1,666,275

Creditors: amounts falling due within one year
 7 
(731,630)
(985,516)

Net current assets
  
 
 
259,901
 
 
680,759

Total assets less current liabilities
  
2,908,004
2,744,035

Creditors: amounts falling due after more than one year
 8 
(170,243)
(197,363)

Provisions for liabilities
  

Deferred tax
  
(124,004)
(70,431)

  
 
 
(124,004)
 
 
(70,431)

Net assets
  
2,613,757
2,476,241


Capital and reserves
  

Called up share capital 
 9 
100
100

Revaluation reserve
  
34,693
-

Profit and loss account
  
2,578,964
2,476,141

  
2,613,757
2,476,241


Page 1

 
EAGLE RECYCLING (UK) LIMITED
REGISTERED NUMBER: SC268901

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 August 2024.




................................................
Mr R Purvis
................................................
Mr C R Purvis
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
EAGLE RECYCLING (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Eagle Recycling (UK) Limited is a company limited by shares, incorporated in Scotland. The registered office address is New Thistle House, Lochview Industrial Estate, Lochgelly, Fife, KY5 9HG.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
EAGLE RECYCLING (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Page 4

 
EAGLE RECYCLING (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
5% straight line
Plant and machinery
-
20% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
25% straight line
Assets under construction
-
Not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property are shown at their fair value. Changes in fair value are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5

 
EAGLE RECYCLING (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 16).

Page 6

 


 
EAGLE RECYCLING (UK) LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


4.


Tangible fixed assets






Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Assets under construction
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
556,413
3,153,195
179,856
1,741
81,594
3,972,799


Additions
40,380
913,124
37,613
-
169,585
1,160,702


Disposals
-
(272,488)
(17,720)
-
-
(290,208)


Transfers between classes
-
-
-
-
(81,594)
(81,594)



At 31 March 2024

596,793
3,793,831
199,749
1,741
169,585
4,761,699



Depreciation


At 1 April 2023
442,979
1,323,625
141,178
1,741
-
1,909,523


Charge for the year on owned assets
11,093
608,205
24,608
-
-
643,906


Disposals
-
(272,113)
(17,720)
-
-
(289,833)



At 31 March 2024

454,072
1,659,717
148,066
1,741
-
2,263,596



Net book value



At 31 March 2024
142,721
2,134,114
51,683
-
169,585
2,498,103



At 31 March 2023
113,434
1,829,570
38,678
-
81,594
2,063,276

Page 7

 
EAGLE RECYCLING (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


Additions at cost
22,149


Surplus on revaluation
46,257


Transfers between classes
81,594



At 31 March 2024
150,000

During the year some of the company's assets under construction were reclassified as investment property.
The valuations in the year were made by the directors on an open market value for existing use basis.





6.


Debtors

2024
2023
£
£


Trade debtors
385,959
430,216

Amounts owed by group undertakings
279,592
583,010

Other debtors
84,466
-

Prepayments and accrued income
13,764
13,780

763,781
1,027,006



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
242,599
205,779

Other taxation and social security
17,805
101,442

Obligations under finance lease and hire purchase contracts
443,099
647,859

Accruals and deferred income
28,127
30,436

731,630
985,516


Net obligations under hire purchase contracts are secured by the relevant assets.

Page 8

 
EAGLE RECYCLING (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
170,243
197,363


Net obligations under hire purchase contracts are secured by the relevant assets.


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares shares of £1.00 each
100
100



10.


Capital commitments


At 31 March 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
-
215,624


11.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
26,400
24,000


12.


Related party transactions

The company has taken advantage of the exemption within FRS 102 1A from disclosing related party transactions with other companies that are wholly owned by the group headed by Robert Purvis Plant Hire Limited


13.


Controlling party

The Company is a wholly owned subsidiary of Robert Purvis Plant Hire Limited, a company registered in Scotland. The registered office and principal place of business is Thistle House, Cartmore Industrial Estate, Lochgelly, Fife, KY5 8LL.

Page 9

 
EAGLE RECYCLING (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 23 August 2024 by Mark Gibson (Senior statutory auditor) on behalf of Sumer Auditco Limited.


Page 10