Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-014Remediation activities and other waste management services4truetrue 05036463 2023-01-01 2023-12-31 05036463 2023-12-31 05036463 2022-01-01 2022-12-31 05036463 2022-12-31 05036463 c:Director1 2023-01-01 2023-12-31 05036463 d:MotorVehicles 2023-01-01 2023-12-31 05036463 d:MotorVehicles 2023-12-31 05036463 d:MotorVehicles 2022-12-31 05036463 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05036463 d:FurnitureFittings 2023-01-01 2023-12-31 05036463 d:FurnitureFittings 2023-12-31 05036463 d:FurnitureFittings 2022-12-31 05036463 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05036463 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05036463 d:CurrentFinancialInstruments 2023-12-31 05036463 d:CurrentFinancialInstruments 2022-12-31 05036463 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05036463 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05036463 d:ShareCapital 2023-12-31 05036463 d:ShareCapital 2022-12-31 05036463 d:RetainedEarningsAccumulatedLosses 2023-12-31 05036463 d:RetainedEarningsAccumulatedLosses 2022-12-31 05036463 c:FRS102 2023-01-01 2023-12-31 05036463 c:Audited 2023-01-01 2023-12-31 05036463 c:FullAccounts 2023-01-01 2023-12-31 05036463 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05036463 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05036463 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company Registration Number 05036463























BORDERS RECYCLING LIMITED





FINANCIAL STATEMENTS





 31 DECEMBER 2023

























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BORDERS RECYCLING LIMITED
REGISTERED NUMBER: 05036463

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,573
23,423

  
17,573
23,423

Current assets
  

Debtors: amounts falling due within one year
 5 
1,082,593
1,204,828

Cash at bank and in hand
 6 
295,596
353,475

  
1,378,189
1,558,303

Creditors: amounts falling due within one year
 7 
(605,176)
(588,359)

Net current assets
  
 
 
773,013
 
 
969,944

Total assets less current liabilities
  
790,586
993,367

  

Net assets
  
790,586
993,367


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
790,585
993,366

  
790,586
993,367


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 by: 


Mrs L Dobson
Director

Date: 12 February 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
BORDERS RECYCLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Borders Recycling Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 2, Beaufront Park, Anick Road, Hexham, Northumberland, NE46 4TU.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Director has a reasonable expectation that the company has adequate resources to continue in operation for at least twelve months from the date of this report. Accordingly, the Company continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Foreign Exchange

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
BORDERS RECYCLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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

Revenue 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 revenue 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.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

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

 
2.7

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
BORDERS RECYCLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Taxation

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

 
2.9

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
20%

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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 4

 
BORDERS RECYCLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.14

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 4 (2022 - 4).

Page 5

 
BORDERS RECYCLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
28,719
4,478
33,197



At 31 December 2023

28,719
4,478
33,197



Depreciation


At 1 January 2023
5,385
4,389
9,774


Charge for the year on owned assets
5,832
18
5,850



At 31 December 2023

11,217
4,407
15,624



Net book value



At 31 December 2023
17,502
71
17,573



At 31 December 2022
23,334
89
23,423


5.


Debtors

2023
2022
£
£


Trade debtors
1,075,077
1,182,958

Amounts owed by group undertakings
2,407
21,447

Prepayments and accrued income
5,109
423

1,082,593
1,204,828



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
295,598
353,475

295,598
353,475


Page 6

 
BORDERS RECYCLING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
317,889
284,374

Amounts owed to group undertakings
-
12,500

Corporation tax
11,559
11,433

Other taxation and social security
61,067
63,353

Other creditors
1,421
-

Accruals and deferred income
213,240
216,699

605,176
588,359



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £16,826 (2022: £16,150).


9.


Parent company

The parent company is Reukema Paper Group BV and the ultimate parent company is Reukema Group BV. The group accounts may be obtained from:
Reukema Group B.V.
Lorentzkade 2
3846 BP Harderwijk
The Netherlands


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 19 February 2024 by Joanna Gray (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.


Page 7