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REGISTERED NUMBER: 09320679 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SPECTRUM RECYCLING LIMITED

SPECTRUM RECYCLING LIMITED (REGISTERED NUMBER: 09320679)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPECTRUM RECYCLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: M Whelan





REGISTERED OFFICE: 2 Manor Farm Court,
Old Wolverton Road,
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN





REGISTERED NUMBER: 09320679 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

SPECTRUM RECYCLING LIMITED (REGISTERED NUMBER: 09320679)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 662,127 607,648

CURRENT ASSETS
Debtors 5 873,761 714,363
Cash at bank 989,663 1,091,787
1,863,424 1,806,150
CREDITORS
Amounts falling due within one year 6 649,447 437,970
NET CURRENT ASSETS 1,213,977 1,368,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,876,104

1,975,828

CREDITORS
Amounts falling due after more than one
year

7

(174,670

)

(208,488

)

PROVISIONS FOR LIABILITIES (66,732 ) (66,732 )
NET ASSETS 1,634,702 1,700,608

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 1,634,502 1,700,408
SHAREHOLDERS' FUNDS 1,634,702 1,700,608

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SPECTRUM RECYCLING LIMITED (REGISTERED NUMBER: 09320679)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2024 and were signed by:





M Whelan - Director


SPECTRUM RECYCLING LIMITED (REGISTERED NUMBER: 09320679)

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


1. STATUTORY INFORMATION

Spectrum Recycling 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.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 25% on cost
Plant and machinery - 33.33% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SPECTRUM RECYCLING LIMITED (REGISTERED NUMBER: 09320679)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£ £ £
COST
At 1 January 2023 4,002 515,819 8,284
Additions 7,552 33,156 -
Disposals - - -
At 31 December 2023 11,554 548,975 8,284
DEPRECIATION
At 1 January 2023 4,002 322,051 3,367
Charge for year 1,888 69,723 1,652
Eliminated on disposal - - -
At 31 December 2023 5,890 391,774 5,019
NET BOOK VALUE
At 31 December 2023 5,664 157,201 3,265
At 31 December 2022 - 193,768 4,917

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 January 2023 1,592,173 33,693 2,153,971
Additions 220,647 - 261,355
Disposals (24,382 ) - (24,382 )
At 31 December 2023 1,788,438 33,693 2,390,944
DEPRECIATION
At 1 January 2023 1,184,272 32,631 1,546,323
Charge for year 129,191 625 203,079
Eliminated on disposal (20,585 ) - (20,585 )
At 31 December 2023 1,292,878 33,256 1,728,817
NET BOOK VALUE
At 31 December 2023 495,560 437 662,127
At 31 December 2022 407,901 1,062 607,648

SPECTRUM RECYCLING LIMITED (REGISTERED NUMBER: 09320679)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 742,475 658,784
Other debtors 117,119 -
Prepayments 14,167 55,579
873,761 714,363

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 109,742 113,935
Trade creditors 132,729 63,569
Tax 229,513 105,460
Social security and other taxes 17,741 14,638
VAT 97,776 75,635
Other creditors 9,234 13,288
Directors' current accounts 1,414 147
Accruals and deferred income 1,298 1,298
649,447 437,970

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans - 1-2 years 100,906 50,000
Bank loans - 2-5 years - 91,853
Hire purchase contracts 73,764 66,635
174,670 208,488

8. SECURED DEBTS

Of the creditors falling due within and after more than one year the bank loans of £191,853 (2021: £240,681)
and other creditors of £180,569 (2021: £344,663) are secured.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary share capital class 1 1 100 100
100 Ordinary share capital class 2 1 100 100
200 200