IRIS Accounts Production v24.3.0.553 12620705 director 31.5.23 30.5.24 30.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh126207052023-05-30126207052024-05-30126207052023-05-312024-05-30126207052022-05-31126207052022-06-012023-05-30126207052023-05-3012620705ns15:EnglandWales2023-05-312024-05-3012620705ns14:PoundSterling2023-05-312024-05-3012620705ns10:Director12023-05-312024-05-3012620705ns10:PrivateLimitedCompanyLtd2023-05-312024-05-3012620705ns10:SmallEntities2023-05-312024-05-3012620705ns10:AuditExempt-NoAccountantsReport2023-05-312024-05-3012620705ns10:SmallCompaniesRegimeForDirectorsReport2023-05-312024-05-3012620705ns10:SmallCompaniesRegimeForAccounts2023-05-312024-05-3012620705ns10:FullAccounts2023-05-312024-05-3012620705ns10:RegisteredOffice2023-05-312024-05-3012620705ns5:CurrentFinancialInstruments2024-05-3012620705ns5:CurrentFinancialInstruments2023-05-3012620705ns5:Non-currentFinancialInstruments2024-05-3012620705ns5:Non-currentFinancialInstruments2023-05-3012620705ns5:ShareCapital2024-05-3012620705ns5:ShareCapital2023-05-3012620705ns5:RetainedEarningsAccumulatedLosses2024-05-3012620705ns5:RetainedEarningsAccumulatedLosses2023-05-3012620705ns5:PlantMachinery2023-05-312024-05-3012620705ns5:MotorVehicles2023-05-312024-05-3012620705ns5:PlantMachinery2023-05-3012620705ns5:MotorVehicles2023-05-3012620705ns5:PlantMachinery2024-05-3012620705ns5:MotorVehicles2024-05-3012620705ns5:PlantMachinery2023-05-3012620705ns5:MotorVehicles2023-05-3012620705ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3012620705ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3012620705ns5:WithinOneYear2024-05-3012620705ns5:WithinOneYear2023-05-30
REGISTERED NUMBER: 12620705 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MAY 2024

FOR

NATIONWIDE TYRE RECYCLING UK LIMITED

NATIONWIDE TYRE RECYCLING UK LIMITED (REGISTERED NUMBER: 12620705)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NATIONWIDE TYRE RECYCLING UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MAY 2024







DIRECTOR: S D Wilkinson





REGISTERED OFFICE: Turnpike house
1208/1210 London Road
Leigh on sea
Essex
SS9 2UA





REGISTERED NUMBER: 12620705 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

NATIONWIDE TYRE RECYCLING UK LIMITED (REGISTERED NUMBER: 12620705)

BALANCE SHEET
30 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 204,481 236,994

CURRENT ASSETS
Debtors 5 27,619 39,393
Cash at bank 617,151 366,921
644,770 406,314
CREDITORS
Amounts falling due within one year 6 247,930 180,361
NET CURRENT ASSETS 396,840 225,953
TOTAL ASSETS LESS CURRENT
LIABILITIES

601,321

462,947

CREDITORS
Amounts falling due after more than one
year

7

80,000

80,000
NET ASSETS 521,321 382,947

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 521,221 382,847
SHAREHOLDERS' FUNDS 521,321 382,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 2024 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.

NATIONWIDE TYRE RECYCLING UK LIMITED (REGISTERED NUMBER: 12620705)

BALANCE SHEET - continued
30 MAY 2024


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 director and authorised for issue on 25 September 2024 and were signed by:





S D Wilkinson - Director


NATIONWIDE TYRE RECYCLING UK LIMITED (REGISTERED NUMBER: 12620705)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MAY 2024

1. STATUTORY INFORMATION

Nationwide Tyre Recycling UK 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.
Plant and machinery - 20% on reducing balance
Motor van - 20% on reducing balance

Taxation
Taxation for the year 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.

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.

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 year was 3 (2023 - 3 ) .

NATIONWIDE TYRE RECYCLING UK LIMITED (REGISTERED NUMBER: 12620705)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery Motor van Totals
£    £    £   
COST
At 31 May 2023 158,588 182,570 341,158
Additions - 34,555 34,555
Disposals - (32,990 ) (32,990 )
At 30 May 2024 158,588 184,135 342,723
DEPRECIATION
At 31 May 2023 48,358 55,806 104,164
Charge for year 17,913 28,041 45,954
Eliminated on disposal - (11,876 ) (11,876 )
At 30 May 2024 66,271 71,971 138,242
NET BOOK VALUE
At 30 May 2024 92,317 112,164 204,481
At 30 May 2023 110,230 126,764 236,994

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,620 18,198
Other debtors 14,999 14,999
Tax - 6,196
27,619 39,393

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 20,000
Tax 99,068 29,139
Social security and other taxes 664 292
VAT 42,458 30,072
Director's current account 103,065 98,558
Accrued expenses 2,675 2,300
247,930 180,361

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Director's loan account 80,000 80,000

NATIONWIDE TYRE RECYCLING UK LIMITED (REGISTERED NUMBER: 12620705)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MAY 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 49,920 49,920