Registration number: NI627424

Nationwide Recycling (Irl) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Nationwide Recycling (Irl) Limited

Company Information

Director

Mr Brian Mallon

Registered office

63 Crossnenagh Road Keady Armagh Co Armagh BT60 3HN

Bankers

Santander Newry Po Box 383 21 Prescot Street London E1 8RP

Accountants

SP McKeown & Co Ltd Chartered Certified Accountants, Registered Auditors & Tax Advisors5 Lower Catherine Street Newry Co Down BT35 6BE

Nationwide Recycling (Irl) Limited

(Registration number: NI627424)
Balance Sheet as at 30 June 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,660	2,075
Current assets
Debtors	5	49,771	50,341
Cash at bank and in hand		129	574
		49,900	50,915
Creditors: Amounts falling due within one year	6	(50,517)	(52,576)
Net current liabilities		(617)	(1,661)
Total assets less current liabilities		1,043	414
Provisions for liabilities		(415)	(78)
Net assets		628	336
Capital and reserves
Called up share capital	7	1	1
Retained earnings		627	335
Shareholders' funds		628	336

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 March 2025
 

......................................... Mr Brian Mallon Director

Nationwide Recycling (Irl) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
63 Crossnenagh Road
Keady
Armagh
Co Armagh
BT60 3HN

These financial statements were authorised for issue by the director on 31 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Nationwide Recycling (Irl) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	20% Reducing Balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Nationwide Recycling (Irl) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 2).

Nationwide Recycling (Irl) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4	Tangible assets

	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2023	7,000	7,000
At 30 June 2024	7,000	7,000
Depreciation
At 1 July 2023	4,925	4,925
Charge for the year	415	415
At 30 June 2024	5,340	5,340
Carrying amount
At 30 June 2024	1,660	1,660
At 30 June 2023	2,075	2,075

5

Debtors

Current	Note	2024 £	2023 £
Amounts owed by related parties	8	49,770	50,340
Other debtors		1	1
		49,771	50,341

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	3,191	1,765
Taxation and social security	10,031	7,870
Accruals and deferred income	1,255	1,318
Other creditors	36,040	41,623
	50,517	52,576

7	Share capital

Allotted, called up and fully paid shares

Nationwide Recycling (Irl) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1

8	Related party transactions

Transactions with the director

2024	At 1 July 2023 £	Advances to director £	Repayments by director £	At 30 June 2024 £
Mr Brian Mallon
Directors Loan repayable on demand	41,624	(8,835)	3,250	36,039

2023	At 1 July 2022 £	Advances to director £	Repayments by director £	At 30 June 2023 £
Mr Brian Mallon
Directors Loan repayable on demand	20,902	(10,879)	31,601	41,624

Director's remuneration

The director's remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	-	11,000

In respect of the highest paid director:

	2024 £	2023 £
Remuneration	-	11,000

Summary of transactions with all entities with joint control or significant interest

Transactions have occurred between the company and a related party who is under the same control. The balance is repayable on demand.

Loans from related parties

Nationwide Recycling (Irl) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2024	Entities with joint control or significant influence £	Total £
At start of period	50,340	50,340
Advanced	41,000	41,000
Repaid	(41,570)	(41,570)
At end of period	49,770	49,770

2023	Entities with joint control or significant influence £	Total £
At start of period	29,838	29,838
Advanced	45,000	45,000
Repaid	(24,498)	(24,498)
At end of period	50,340	50,340