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REGISTERED NUMBER: 04326372 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Aim To Recycle Limited

Aim To Recycle Limited (Registered number: 04326372)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Aim To Recycle Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mrs J Gaydon-Lownds
Mrs J McDonald
Mr I McDonald
Mr A McDonald





SECRETARY: Mrs J Gaydon-Lownds





REGISTERED OFFICE: Stoneygate Lane
Felling
Gateshead
Tyne and Wear
NE10 0EX





REGISTERED NUMBER: 04326372 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Aim To Recycle Limited (Registered number: 04326372)

Balance Sheet
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 219,249 193,471
Investments 6 683,715 683,715
902,964 877,186

CURRENT ASSETS
Debtors 7 44,788 56,534
Cash at bank and in hand 100 4,549
44,888 61,083
CREDITORS
Amounts falling due within one year 8 (452,347 ) (693,661 )
NET CURRENT LIABILITIES (407,459 ) (632,578 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

495,505

244,608

PROVISIONS FOR LIABILITIES (20,861 ) (28,376 )
NET ASSETS 474,644 216,232

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 474,544 216,132
SHAREHOLDERS' FUNDS 474,644 216,232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





Mr A McDonald - Director


Aim To Recycle Limited (Registered number: 04326372)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Aim To Recycle 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Aim To Recycle 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for providing management services, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 20% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Aim To Recycle Limited (Registered number: 04326372)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued

Fixed asset investments
Investments in subsidiary undertakings are accounted for at cost less impairment in the individual financial statements. Dividends are recognised in the profit and loss account when the right to receive payment is established.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Employee benefits
Short term employee benefits including pension contributions to defined contribution schemes are recognised as an expense in the period in which they are incurred.

Leasing
Plant and machinery acquired under finance leases are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2022 19,864 200,323 35,675 108,158 364,020
Additions - - 2,664 69,650 72,314
At 30 November 2023 19,864 200,323 38,339 177,808 436,334
DEPRECIATION
At 1 December 2022 10,346 85,866 23,277 51,060 170,549
Charge for year 4,966 12,803 5,739 23,028 46,536
At 30 November 2023 15,312 98,669 29,016 74,088 217,085
NET BOOK VALUE
At 30 November 2023 4,552 101,654 9,323 103,720 219,249
At 30 November 2022 9,518 114,457 12,398 57,098 193,471


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2022
and 30 November 2023 683,715
NET BOOK VALUE
At 30 November 2023 683,715
At 30 November 2022 683,715

Aim To Recycle Limited (Registered number: 04326372)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 40,000 40,000
Other debtors 4,788 16,534
44,788 56,534

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,579 -
Trade creditors 70,070 11,029
Amounts owed to group undertakings 330,918 557,492
Taxation and social security 16,130 9,411
Other creditors 28,650 115,729
452,347 693,661