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Registered Number: 12975259
England and Wales

 

 

 

UK TEXTILE & RECYCLING LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 116,959    67,257 
116,959    67,257 
Current assets      
Stocks 4 15,650    14,350 
Debtors 5 481,512    348,907 
Cash at bank and in hand 10,412    26,119 
507,574    389,376 
Creditors: amount falling due within one year 6 (452,810)   (369,302)
Net current assets 54,764    20,074 
 
Total assets less current liabilities 171,723    87,331 
Creditors: amount falling due after more than one year 7 (35,000)  
Net assets 136,723    87,331 
 

Capital and reserves
     
Called up share capital 200    200 
Profit and loss account 136,523    87,131 
Shareholders' funds 136,723    87,331 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 31 October 2024 and were signed by:


-------------------------------
RAHMAN Mohammed Shahibur
Director
1
General Information
UK TEXTILE & RECYCLING LTD is a private company, limited by shares, registered in England and Wales, registration number 12975259, registration address Unit 4 Portland Industrial Estate, Ripple Road, BARKING, Essex, IG11 0TW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings 0%
Plant and machinery etc 20%
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 12 (2022 : 11).
3.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 November 2022 12,167    69,457    81,624 
Additions 15,769    56,189    71,958 
Disposals    
At 31 October 2023 27,936    125,646    153,582 
Depreciation
At 01 November 2022   14,367    14,367 
Charge for year   22,256    22,256 
On disposals    
At 31 October 2023   36,623    36,623 
Net book values
Closing balance as at 31 October 2023 27,936    89,023    116,959 
Opening balance as at 01 November 2022 12,167    55,090    67,257 


4.

Stocks

2023
£
  2022
£
Stocks 15,650    14,350 
15,650    14,350 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 198,522    221,585 
Amount Owed by Participating Interests 31,963    20,376 
Other Debtors   6,060 
VAT 153,665    65,636 
384,150    313,657 

5.

Debtors: amounts falling due after one year

2023
£
  2022
£
Other Debtors - rent deposit 97,362    35,250 
97,362    35,250 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 373,796    311,030 
Corporation Tax 4,635    903 
PAYE & Social Security 23,461    5,351 
Directors' Current Accounts 50,918    52,018 
452,810    369,302 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Other Creditors 35,000   
35,000   

2