Company registration number 09223417 (England and Wales)
REMONDIS PLASTICS RECYCLING U.K. LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
REMONDIS PLASTICS RECYCLING U.K. LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
REMONDIS PLASTICS RECYCLING U.K. LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
792
13,530
Cash at bank and in hand
7,483
41,235
8,275
54,765
Creditors: amounts falling due within one year
4
(16,093)
(26,687)
Net current (liabilities)/assets
(7,818)
28,078
Creditors: amounts falling due after more than one year
5
(472,502)
(411,447)
Net liabilities
(480,320)
(383,369)
Capital and reserves
Called up share capital
6
20,000
20,000
Profit and loss reserves
(500,320)
(403,369)
Total equity
(480,320)
(383,369)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 10 October 2024 and are signed on its behalf by:
R Mandelatz
C Schleeberger
Director
Director
Company Registration No. 09223417
REMONDIS PLASTICS RECYCLING U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Remondis Plastics Recycling U.K. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Liverpool Road, Eccles, Manchester, United Kingdom, M30 7RF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The parent company has provided finance facilities to Remondis Plastics Recycling U.K. Limited to enable the company to meet future liabilities as they fall due. The directors are unaware of any reason why the finance facilities would become repayable within one year and have obtained confirmation that such facilities will not be withdrawn to the detriment of third party creditors. Accordingly, the financial statements have been prepared on the going concern basis.true

1.3
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Cash at bank and in hand

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 current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

REMONDIS PLASTICS RECYCLING U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies that are classified as debt, are initially recognised at transaction price. 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
792
13,530

 

REMONDIS PLASTICS RECYCLING U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,344
10,076
Amounts owed to group undertakings
38
5,039
Accruals and deferred income
14,711
11,572
16,093
26,687
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to related undertakings
472,502
411,447
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
10 of £2,000 each
20,000
20,000
20,000
20,000
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Graham Rigby
Statutory Auditor:
Azets Audit Services
8
Related party transactions

The company has taken advantage of the exemption in Financial Reporting Standard 102 Section 33 "Related party disclosures" and has not disclosed transactions with group undertakings. All related party transactions have been carried out under normal commercial terms.

 

At the end of the year the total amounts due to related parties were £472,540 (2022: £416,986) of which £472,502 (2022: £411,447) was owed to Remondis Recycling GmbH & Co KG.

 

Total amounts due from related entities were £nil (2022: £5,928) disclosed within other debtors.

REMONDIS PLASTICS RECYCLING U.K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
9
Parent company

The parent company for the year was Remondis Recycling GmbH & Co KG and its ultimate controlling party for the year was Rethmann SE & Co. KG. a private company controlled by its directors, both of which are registered in Germany.

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