IRIS Accounts Production v24.3.0.553 07710143 Board of Directors Board of Directors 1.12.22 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure077101432022-11-30077101432023-12-31077101432022-12-012023-12-31077101432021-11-30077101432021-12-012022-11-30077101432022-11-3007710143ns16:EnglandWales2022-12-012023-12-3107710143ns15:PoundSterling2022-12-012023-12-3107710143ns11:Director12022-12-012023-12-3107710143ns11:Director22022-12-012023-12-3107710143ns11:PrivateLimitedCompanyLtd2022-12-012023-12-3107710143ns11:SmallEntities2022-12-012023-12-3107710143ns11:AuditExempt-NoAccountantsReport2022-12-012023-12-3107710143ns11:SmallCompaniesRegimeForDirectorsReport2022-12-012023-12-3107710143ns11:SmallCompaniesRegimeForAccounts2022-12-012023-12-3107710143ns11:FullAccounts2022-12-012023-12-3107710143ns11:RegisteredOffice2022-12-012023-12-3107710143ns6:CurrentFinancialInstruments2023-12-3107710143ns6:CurrentFinancialInstruments2022-11-3007710143ns6:Non-currentFinancialInstruments2023-12-3107710143ns6:Non-currentFinancialInstruments2022-11-3007710143ns6:ShareCapital2023-12-3107710143ns6:ShareCapital2022-11-3007710143ns6:RetainedEarningsAccumulatedLosses2023-12-3107710143ns6:RetainedEarningsAccumulatedLosses2022-11-3007710143ns6:PlantMachinery2022-12-012023-12-3107710143ns6:LandBuildings2022-11-3007710143ns6:PlantMachinery2022-11-3007710143ns6:LandBuildings2022-12-012023-12-3107710143ns6:LandBuildings2023-12-3107710143ns6:PlantMachinery2023-12-3107710143ns6:LandBuildings2022-11-3007710143ns6:PlantMachinery2022-11-3007710143ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-11-3007710143ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-12-012023-12-3107710143ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2023-12-3107710143ns6:PlantMachineryns6:LeasedAssetsHeldAsLessee2022-11-3007710143ns6:WithinOneYearns6:CurrentFinancialInstruments2023-12-3107710143ns6:WithinOneYearns6:CurrentFinancialInstruments2022-11-30
REGISTERED NUMBER: 07710143 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2022 TO 31 DECEMBER 2023

FOR

HIGGINS RECYCLING LIMITED

HIGGINS RECYCLING LIMITED (REGISTERED NUMBER: 07710143)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 December 2022 to 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIGGINS RECYCLING LIMITED

COMPANY INFORMATION
for the Period 1 December 2022 to 31 December 2023







DIRECTORS: Mrs D M Higgins
C P Higgins





REGISTERED OFFICE: Wynn Cottage Farm
Brind
Howden
Goole
East Yorkshire
DN14 7LA





REGISTERED NUMBER: 07710143 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

HIGGINS RECYCLING LIMITED (REGISTERED NUMBER: 07710143)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 592,609 605,579

CURRENT ASSETS
Stocks 194,501 224,355
Debtors 5 4,642,832 3,924,240
Cash at bank 623,161 911,387
5,460,494 5,059,982
CREDITORS
Amounts falling due within one year 6 579,384 1,084,320
NET CURRENT ASSETS 4,881,110 3,975,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,473,719

4,581,241

CREDITORS
Amounts falling due after more than one year 7 - (16,775 )

PROVISIONS FOR LIABILITIES (21,421 ) (29,658 )
NET ASSETS 5,452,298 4,534,808

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 5,452,148 4,534,658
SHAREHOLDERS' FUNDS 5,452,298 4,534,808

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

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

The directors acknowledge their 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.

HIGGINS RECYCLING LIMITED (REGISTERED NUMBER: 07710143)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:




Mrs D M Higgins - Director



C P Higgins - Director


HIGGINS RECYCLING LIMITED (REGISTERED NUMBER: 07710143)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 December 2022 to 31 December 2023


1. STATUTORY INFORMATION

Higgins Recycling Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Wynn Cottage Farm, Brind, Howden, Goole, East Yorkshire, DN14 7LA.

The principal activity of the Company is that the processing and sale of recycled materials.

The presentational currency of the financial statements is Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


HIGGINS RECYCLING LIMITED (REGISTERED NUMBER: 07710143)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 December 2022 to 31 December 2023


2. ACCOUNTING POLICIES - continued
Taxation
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 period 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 24 (2022 - 20 ) .

HIGGINS RECYCLING LIMITED (REGISTERED NUMBER: 07710143)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 December 2022 to 31 December 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 403,988 520,721 924,709
Additions 39,995 57,594 97,589
Disposals - (68,430 ) (68,430 )
At 31 December 2023 443,983 509,885 953,868
DEPRECIATION
At 1 December 2022 - 319,130 319,130
Charge for period - 104,789 104,789
Eliminated on disposal - (62,660 ) (62,660 )
At 31 December 2023 - 361,259 361,259
NET BOOK VALUE
At 31 December 2023 443,983 148,626 592,609
At 30 November 2022 403,988 201,591 605,579

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2022
and 31 December 2023 122,000
DEPRECIATION
At 1 December 2022 77,267
Charge for period 12,200
At 31 December 2023 89,467
NET BOOK VALUE
At 31 December 2023 32,533
At 30 November 2022 44,733

HIGGINS RECYCLING LIMITED (REGISTERED NUMBER: 07710143)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 December 2022 to 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 471,053 991,136
Amounts owed by group undertakings 2,973,612 2,124,823
Other debtors 1,198,167 808,281
4,642,832 3,924,240

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 15,090 18,300
Trade creditors 490,370 681,644
Taxation and social security 56,663 379,194
Other creditors 17,261 5,182
579,384 1,084,320

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 16,775

8. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors who own 100% of the issued share capital of the group holding company.