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Registered number: 05776750

Russell Taylor Recycling Ltd

ACCOUNTS
FOR THE YEAR ENDED 31/03/2024

Prepared By:
Greenhalgh Johnson Ltd
Accountants and Tax Advisers
22 High Street
Burgh le Marsh
Skegness
Lincolnshire
PE24 5JT

Russell Taylor Recycling Ltd

ACCOUNTS
FOR THE YEAR ENDED 31/03/2024
DIRECTORS
Russell Taylor
Jacqueline Taylor - resigned 31/03/2024
REGISTERED OFFICE
7 Count Allan Road
Winthorpe
Skegness
Lincolnshire
PE25 1HB
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 05776750
BANKERS
Lloyds Bank plc
ACCOUNTANTS
Greenhalgh Johnson Ltd
Accountants and Tax Advisers
22 High Street
Burgh le Marsh
Skegness
Lincolnshire
PE24 5JT

Russell Taylor Recycling Ltd

ACCOUNTS
FOR THEYEARENDED31/03/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Russell Taylor Recycling Ltd

BALANCE SHEET AT 31/03/2024
20242023
Notes££
FIXED ASSETS
Tangible assets316,87922,509
CURRENT ASSETS
Stock15,00020,000
Debtors52,9074,459
Cash at bank and in hand2,7783,844
20,68528,303
CREDITORS: Amounts falling due within one year619,68831,942
NET CURRENT ASSETS / (LIABILITIES)997(3,639)
TOTAL ASSETS LESS CURRENT LIABILITIES17,87618,870
CREDITORS: Amounts falling due after more than one year711,09320,738
PROVISIONS FOR LIABILITIES AND CHARGES83,2072,039
NET ASSETS / (LIABILITIES)3,576(3,907)
CAPITAL AND RESERVES
Called up share capital9100100
Profit and loss account3,476(4,007)
SHAREHOLDERS' FUNDS3,576(3,907)
For the year ending 31/03/2024 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 03/09/2024 and signed on their behalf by
.............................
Russell Taylor
Director

Russell Taylor Recycling Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 25%
Motor Carsreducing balance 25%
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e. Government Grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
1f.

Russell Taylor Recycling Ltd

2. EMPLOYEES
20242023
No.No.
Average number of employees22
3. TANGIBLE FIXED ASSETS
Plant and
MachineryMotor CarsTotal
£££
Cost
At 01/04/202363,8813,35067,231
At 31/03/202463,8813,35067,231
Depreciation
At 01/04/202342,9471,77544,722
For the year5,2363945,630
At 31/03/202448,1832,16950,352
Net Book Amounts
At 31/03/202415,6981,18116,879
At 31/03/202320,9341,57522,509
4. STOCK 20242023
££
Stock comprises:
Stock15,00020,000
15,00020,000
5. DEBTORS 20242023
££
Amounts falling due within one year
Prepayments2,9074,459
2,9074,459

Russell Taylor Recycling Ltd

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax862-
VAT4,4197,000
Directors current account - R Taylor2773,321
Directors current account - J Taylor2,1767,000
Bank Loan9,6119,381
Accruals2,3435,240
19,68831,942
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Bank loans (unsecured) >1yr11,09320,738
11,09320,738
8. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation3,2072,039
3,2072,039
9. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100

Russell Taylor Recycling Ltd

10. LEASING COMMITMENTS
The company has minimum lease payments due under non-cancellable operating leases as noted below.
The current lease rent is £14,400 per annum.
20222021
££
Within one year14,40014,400
Between one and five years28,800
In more than five years
43,20014,400