Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr D Clitheroe 20/03/2015 Mrs J Gardner 16/11/2012 Mr A J Walker 16/11/2012 10 June 2024 The principal activity of the company during the period was that of the treatment and disposal of non-hazardous waste. 08296783 2023-12-31 08296783 bus:Director1 2023-12-31 08296783 bus:Director2 2023-12-31 08296783 bus:Director3 2023-12-31 08296783 2022-12-31 08296783 core:CurrentFinancialInstruments 2023-12-31 08296783 core:CurrentFinancialInstruments 2022-12-31 08296783 core:Non-currentFinancialInstruments 2023-12-31 08296783 core:Non-currentFinancialInstruments 2022-12-31 08296783 core:ShareCapital 2023-12-31 08296783 core:ShareCapital 2022-12-31 08296783 core:CapitalRedemptionReserve 2023-12-31 08296783 core:CapitalRedemptionReserve 2022-12-31 08296783 core:RetainedEarningsAccumulatedLosses 2023-12-31 08296783 core:RetainedEarningsAccumulatedLosses 2022-12-31 08296783 core:LandBuildings 2022-12-31 08296783 core:OtherPropertyPlantEquipment 2022-12-31 08296783 core:LandBuildings 2023-12-31 08296783 core:OtherPropertyPlantEquipment 2023-12-31 08296783 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-12-31 08296783 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2022-12-31 08296783 bus:OrdinaryShareClass1 2023-12-31 08296783 bus:OrdinaryShareClass2 2023-12-31 08296783 bus:OrdinaryShareClass3 2023-12-31 08296783 2023-01-01 2023-12-31 08296783 bus:FilletedAccounts 2023-01-01 2023-12-31 08296783 bus:SmallEntities 2023-01-01 2023-12-31 08296783 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08296783 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08296783 bus:Director1 2023-01-01 2023-12-31 08296783 bus:Director2 2023-01-01 2023-12-31 08296783 bus:Director3 2023-01-01 2023-12-31 08296783 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 08296783 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 08296783 2022-01-01 2022-12-31 08296783 core:LandBuildings 2023-01-01 2023-12-31 08296783 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 08296783 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 08296783 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08296783 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 08296783 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 08296783 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 08296783 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 08296783 bus:OrdinaryShareClass3 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08296783 (England and Wales)

RESOURCE RECYCLING SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

RESOURCE RECYCLING SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

RESOURCE RECYCLING SOLUTIONS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
RESOURCE RECYCLING SOLUTIONS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DIRECTORS Mr D Clitheroe
Mrs J Gardner
Mr A J Walker
REGISTERED OFFICE Iron House Farm
Lancaster Road
Out Rawcliffe
Preston
PR3 6BP
United Kingdom
COMPANY NUMBER 08296783 (England and Wales)
ACCOUNTANT MHA
Richard House
9 Winckley Square
Preston
Lancashire
PR1 3HP
RESOURCE RECYCLING SOLUTIONS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
RESOURCE RECYCLING SOLUTIONS LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 560,220 578,145
560,220 578,145
Current assets
Debtors 5 242,743 274,485
Cash at bank and in hand 188,402 203,312
431,145 477,797
Creditors: amounts falling due within one year 6 ( 229,440) ( 251,238)
Net current assets 201,705 226,559
Total assets less current liabilities 761,925 804,704
Creditors: amounts falling due after more than one year 7 ( 15,304) ( 258,741)
Provision for liabilities ( 118,874) ( 126,274)
Net assets 627,747 419,689
Capital and reserves
Called-up share capital 8 70 70
Capital redemption reserve 50 50
Profit and loss account 627,627 419,569
Total shareholders' funds 627,747 419,689

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Resource Recycling Solutions Limited (registered number: 08296783) were approved and authorised for issue by the Board of Directors on 10 June 2024. They were signed on its behalf by:

Mr A J Walker
Director
RESOURCE RECYCLING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
RESOURCE RECYCLING SOLUTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Resource Recycling Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Iron House Farm, Lancaster Road, Out Rawcliffe, Preston, PR3 6BP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts receivable for services in relation to the treatment and disposal of non-hazardous waste. Income is recognised once waste has been received onto site, in accordance with the individual customer trading agreements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Plant and machinery etc. 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 6

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2023 16,147 931,964 948,111
Additions 1,480 139,675 141,155
Disposals 0 ( 89,000) ( 89,000)
At 31 December 2023 17,627 982,639 1,000,266
Accumulated depreciation
At 01 January 2023 597 369,369 369,966
Charge for the financial year 700 86,477 87,177
Disposals 0 ( 17,097) ( 17,097)
At 31 December 2023 1,297 438,749 440,046
Net book value
At 31 December 2023 16,330 543,890 560,220
At 31 December 2022 15,550 562,595 578,145

5. Debtors

2023 2022
£ £
Trade debtors 57,672 119,415
Amounts owed by connected companies 146,654 68,354
Other debtors 38,417 86,716
242,743 274,485

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 0 50,000
Trade creditors 61,162 60,986
Taxation and social security 137,172 74,434
Obligations under finance leases and hire purchase contracts 27,153 44,357
Other creditors 3,953 21,461
229,440 251,238

Other creditors includes £27,153 (2022 - £44,357) of hire purchase liabilities which are secured on the assets to which they relate.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 0 120,834
Obligations under finance leases and hire purchase contracts 15,304 87,907
Other creditors 0 50,000
15,304 258,741

Other creditors includes £15,304 (2022 - £87,907) of hire purchase liabilities which are secured on the assets to which they relate.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
30 B ordinary shares of £ 1.00 each 30 30
20 C ordinary shares of £ 1.00 each 20 20
20 E ordinary shares of £ 1.00 each 20 20
70 70

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Key Management personnel (1,635) 8,365