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REGISTERED NUMBER: 07155029 (England and Wales)


















STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ALLWOOD RECYCLING SOLUTIONS LIMITED

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Income and Retained Earnings 10

Statement of Financial Position 11

Statement of Cash Flows 12

Notes to the Statement of Cash Flows 13

Notes to the Financial Statements 15


ALLWOOD RECYCLING SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M Wheeler
D Wheeler
A G Milne





REGISTERED OFFICE: 7 Charles Court
Budbrooke Industrial Estate
Warwick
Warwickshire
CV34 5LZ





REGISTERED NUMBER: 07155029 (England and Wales)





AUDITORS: TGFP
Chartered Accountants & Statutory Auditors
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
We help organisations of all sizes and niches to recycle as much as possible by offering bespoke recycling solutions to ensure the most sustainable and cost-effective outcome for all involved. We provide a tailored waste management service to include (but not limited to):
- On-site assistance - our trained operatives work on site to sort and segregate all waste streams.
- Swift collections - courtesy of our nationwide network of reliable carriers, we are able to provide speedy collections to all our clients.
- Stand trailer supply - we supply stand trailers for the transportation of goods.
- Complete waste management - services that are designed specifically for our clients.

For the 12 months ended December 2024 turnover was £20.8m (10 month year Mar to Dec 23: £15.4m) increased activity and new clients has contributed to a higher turnover with gross margins remaining largely consistent with previous years.

The outlook for the coming year is very positive, we continue to grow organically and it is the intention of the Directors to continue to win new business and grow turnover.

PRINCIPAL RISKS AND UNCERTAINTIES
Credit Risk

Credit risk relates to operating activities and the risk that customers do not pay, this risk is managed by the external rating of credit limits and the robust monitoring of debtors. The Company is in a strong financial position with sufficient cash reserves available and finances its operations through retained earnings.

Economic Risk

Commodities such as scrap metal, cardboard and recycled plastics are subject to world supply and demand which impacts prices. The Company has a wide variety of outlets for the material which allows for alignment of global commodity pricing.

Regulatory Risk

Regulation constantly changes that affects the waste and recycling sectors. The Company mitigates the risk by maintaining the highest standards with our certifications to IS9001 Quality Management Systems, ISO14001 Environmental Management Systems, ISO45001 Occupational Health and Safety Systems, ISO27001 Information Security Systems and Safe Contractor status. We are also a CIWM Affiliated member.

Reputational Risk

We pride ourselves on providing effective, cost-efficient and responsible waste and recycling services nationwide. Factors adversely affecting our reputation would be detrimental to trade, we mitigate the risk in a number of ways; a) employing the right staff, b) training all our staff by using CIWM waste awareness training courses, c) ensuring the correct resources are deployed, and, d) continuous review and improvement of the services we offer.


ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

KEY PERFORMANCE INDICATORS
The Directors and Senior Management Team review financial performance each month, including turnover, costs, profit and client performance. Debtors and creditors are reviewed regularly along with cashflow projections.

Staff training and performance are actively monitored to ensure our workforce are able to provide the best service possible.

ON BEHALF OF THE BOARD:





D Wheeler - Director


5 April 2025

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of waste management and recycling services.

DIVIDENDS
Details of dividends paid in the year are disclosed in note 7.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

M Wheeler
D Wheeler
A G Milne

Other changes in directors holding office are as follows:

K McNeilly - resigned 23 May 2024

FINANCIAL INSTRUMENTS
The business' principal financial instruments comprise bank balances, insurance debtors, insurance creditors
and other creditors. The main purpose of these instruments is to finance the business' operations.

Debtors are managed in respect of credit risk by policies concerning the credit offered to customers and the
regular monitoring of amounts outstanding for both time and credit limits.

Creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

STRATEGIC REPORT
In accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors Report)
Regulations 2013, the company has prepared a Strategic Report, which includes information that would have
previously been included in the Directors' Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, TGFP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D Wheeler - Director


5 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLWOOD RECYCLING SOLUTIONS LIMITED


Opinion
We have audited the financial statements of Allwood Recycling Solutions Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLWOOD RECYCLING SOLUTIONS LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on pages four and five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLWOOD RECYCLING SOLUTIONS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We have considered how irregularities, including fraud, can be detected in this business and how they may occur.

To mitigate these risks we have carried out the following risk assessment procedures:

- Enquiry with management and those charged with governance regarding any known or suspected instances of fraud;
- Performing analytical review procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- Testing of journal entries throughout the year and post year end which met a defined risk criteria.

In respect of non- compliance with laws and regulations we have carried out the following enquiries:

- Review of correspondence with tax authorities for any instances of non-compliance with tax laws and regulations;
- Reviewing the financial statements disclosures and agreeing to supporting documentation
- Review of legal expenditure and understanding the nature of expenditure incurred.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALLWOOD RECYCLING SOLUTIONS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




BENJAMIN R REYNOLDS (Senior Statutory Auditor)
for and on behalf of TGFP
Chartered Accountants & Statutory Auditors
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

9 April 2025

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024

Period
1.3.23
Year Ended to
31.12.24 31.12.23
Notes £    £   

TURNOVER 20,792,283 15,376,323

Cost of sales 16,685,375 12,077,895
GROSS PROFIT 4,106,908 3,298,428

Administrative expenses 1,746,180 1,161,970
OPERATING PROFIT 4 2,360,728 2,136,458

Interest receivable and similar income 53,987 2,239
2,414,715 2,138,697

Interest payable and similar expenses 5 4,181 2,052
PROFIT BEFORE TAXATION 2,410,534 2,136,645

Tax on profit 6 616,271 542,818
PROFIT FOR THE FINANCIAL YEAR 1,794,263 1,593,827

Retained earnings at beginning of year 3,233,543 1,639,716

Dividends 7 (1,000,000 ) -

RETAINED EARNINGS AT END OF
YEAR

4,027,806

3,233,543

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 1,466,050 1,066,328

CURRENT ASSETS
Debtors 9 3,817,937 3,235,362
Cash at bank and in hand 1,646,805 1,254,019
5,464,742 4,489,381
CREDITORS
Amounts falling due within one year 10 2,685,027 2,142,625
NET CURRENT ASSETS 2,779,715 2,346,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,245,765

3,413,084

CREDITORS
Amounts falling due after more than one
year

11

(62,397

)

(31,721

)

PROVISIONS FOR LIABILITIES 15 (155,560 ) (147,818 )
NET ASSETS 4,027,808 3,233,545

CAPITAL AND RESERVES
Called up and paid share capital 16 2 2
Retained earnings 17 4,027,806 3,233,543
SHAREHOLDERS' FUNDS 4,027,808 3,233,545

The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2025 and were signed on its behalf by:





D Wheeler - Director


ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

Period
1.3.23
Year Ended to
31.12.24 31.12.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,211,716 1,435,710
Interest element of hire purchase
payments paid

(4,181

)

(2,052

)
Tax paid (283,705 ) (429,966 )
Net cash from operating activities 1,923,830 1,003,692

Cash flows from investing activities
Purchase of tangible fixed assets (564,176 ) (637,616 )
Interest received 53,987 2,239
Net cash from investing activities (510,189 ) (635,377 )

Cash flows from financing activities
Capital repayments in year (17,940 ) (14,348 )
Amount reimbursed to directors (2,915 ) (1,544 )
Equity dividends paid (1,000,000 ) (500,000 )
Net cash from financing activities (1,020,855 ) (515,892 )

Increase/(decrease) in cash and cash equivalents 392,786 (147,577 )
Cash and cash equivalents at
beginning of year

2

1,254,019

1,401,596

Cash and cash equivalents at end of
year

2

1,646,805

1,254,019

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period
1.3.23
Year Ended to
31.12.24 31.12.23
£    £   
Profit before taxation 2,410,534 2,136,645
Depreciation charges 215,034 119,783
Loss on disposal of fixed assets 770 27
Finance costs 4,181 2,052
Finance income (53,987 ) (2,239 )
2,576,532 2,256,268
Increase in trade and other debtors (579,771 ) (1,046,323 )
Increase in trade and other creditors 214,955 225,765
Cash generated from operations 2,211,716 1,435,710

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024
31.12.24 1.1.24
£    £   
Cash and cash equivalents 1,646,805 1,254,019
Period ended 31 December 2023
31.12.23 1.3.23
£    £   
Cash and cash equivalents 1,254,019 1,401,596


ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 1.1.24 Cash flow changes At 31.12.24
£    £    £    £   
Net cash
Cash at bank
and in hand 1,254,019 392,786 1,646,805
1,254,019 392,786 1,646,805
Debt
Finance leases (45,387 ) 56,320 - (78,797 )
(45,387 ) 56,320 - (78,797 )
Total 1,208,632 449,106 - 1,568,008

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Allwood Recycling Solutions 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.

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


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. For the period under review there were no specific areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates had a material bearing on the financial statements.

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

The company recognises turnover when the amount can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2.5% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Financial instruments
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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.


ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 the 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.

Trade debtors
Trade debtors are amounts owed from customers for services performed and goods sold in the ordinary course in business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised costs using the effective interest method, less provision for impairment. A provision for 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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classed as equity. Equity instruments are measured at fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

3. EMPLOYEES AND DIRECTORS
Period
1.3.23
Year Ended to
31.12.24 31.12.23
£    £   
Wages and salaries 4,076,177 3,005,267
Social security costs 20,303 19,812
Other pension costs 115,566 90,000
4,212,046 3,115,079

The average number of employees during the year was as follows:
Period
1.3.23
Year Ended to
31.12.24 31.12.23

Directors 2 2
Clerical and managerial 14 12
Site managers and supervisors 17 16
Operatives 92 88
Service engineer 1 -
126 118

Period
1.3.23
Year Ended to
31.12.24 31.12.23
£    £   
Directors' remuneration 167,655 125,000
Directors' pension contributions to money purchase schemes 115,566 90,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 1

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.3.23
Year Ended to
31.12.24 31.12.23
£    £   
Hire of plant and machinery 62,318 35,188
Depreciation - owned assets 215,034 119,783
Loss on disposal of fixed assets 770 27
Auditors' remuneration 7,000 6,500

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.3.23
Year Ended to
31.12.24 31.12.23
£    £   
Hire purchase 4,181 2,052

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
1.3.23
Year Ended to
31.12.24 31.12.23
£    £   
Current tax:
UK corporation tax 460,711 395,000

Deferred tax 155,560 147,818
Tax on profit 616,271 542,818

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.3.23
Year Ended to
31.12.24 31.12.23
£    £   
Profit before tax 2,410,534 2,136,645
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 24.392%)

602,634

521,170

Effects of:
Expenses not deductible for tax purposes 10,950 1,781
Capital allowances in excess of depreciation (5,055 ) (127,951 )

Deferred tax 7,742 147,818
Total tax charge 616,271 542,818

7. DIVIDENDS
Period
1.3.23
Year Ended to
31.12.24 31.12.23
£    £   
A Ordinary shares of £0.50 each
Interim 500,000 -
B Ordinary shares of £0.50 each
Interim 500,000 -
1,000,000 -

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2024 373,469 667,382 120,153
Additions 337,543 221,845 -
Disposals - - (346 )
At 31 December 2024 711,012 889,227 119,807
DEPRECIATION
At 1 January 2024 26,454 100,466 69,279
Charge for year 10,743 136,698 30,077
Eliminated on disposal - - (346 )
At 31 December 2024 37,197 237,164 99,010
NET BOOK VALUE
At 31 December 2024 673,815 652,063 20,797
At 31 December 2023 347,015 566,916 50,874

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 172,721 21,333 1,355,058
Additions 91,190 3,328 653,906
Disposals (80,551 ) (2,778 ) (83,675 )
At 31 December 2024 183,360 21,883 1,925,289
DEPRECIATION
At 1 January 2024 80,325 12,206 288,730
Charge for year 31,686 5,830 215,034
Eliminated on disposal (41,401 ) (2,778 ) (44,525 )
At 31 December 2024 70,610 15,258 459,239
NET BOOK VALUE
At 31 December 2024 112,750 6,625 1,466,050
At 31 December 2023 92,396 9,127 1,066,328

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,060,908 2,281,476
Other debtors 594,525 808,208
Directors' current accounts 2,804 -
Prepayments and accrued income 159,700 145,678
3,817,937 3,235,362

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 12) 16,400 13,666
Trade creditors 1,862,661 1,562,508
Tax 501,974 177,150
Social security and other taxes 88,596 87,455
VAT 118,249 111,461
Other creditors 36,016 34,278
Directors' current accounts - 111
Accruals and deferred income 61,131 155,996
2,685,027 2,142,625

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 12) 62,397 31,721

12. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 16,400 13,666
Between one and five years 62,397 31,721
78,797 45,387

13. SECURED DEBTS

There is security over the borrowings of the company by way of a fixed and floating charge over all assets.

The above charge is still outstanding.

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


14. FINANCIAL INSTRUMENTS

Categorisation of financial instruments:

Financial assets that are debt instruments measured at amortised cost £5,305,042 (2023 - £4,343,703)

Financial liabilities measured at amortised cost £2,038,605 (2023 - £1,798,280)

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 155,560 147,818

Deferred
tax
£   
Balance at 1 January 2024 147,818
Provided during year 7,742
Balance at 31 December 2024 155,560

16. CALLED UP AND PAID SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 A Ordinary £0.50 1 1
2 B Ordinary £0.50 1 1
2 2

17. RESERVES

Share capital represents the number of shares issued at nominal price.

The profit and loss account represents accumulated comprehensive income for the year and prior periods, after deduction of dividends paid.

18. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £168,397 (2023 - £126,295).

Contributions totalling £28,541 (2023 - £28,907) were payable to the scheme at the end of the period and are included in creditors.

ALLWOOD RECYCLING SOLUTIONS LIMITED (REGISTERED NUMBER: 07155029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director operated a loan with the company with no fixed terms of repayment or interest. Amounts advanced during the year were £2,804 (2023 - £nil) and repayments during the year were £nil (2023 - £nil). At the year end the amount owing to the company was £2,804 (2023 - £nil).

20. RELATED PARTY DISCLOSURES

During the period, the company made sales and purchases of £6,241,559 and £1,646 respectively, to and from a company which is a shareholder (2023: £5,832,943 and £11,872). The related balances receivable and payable at the period end were £592,325 and £nil respectively (2023: £71,358 and £nil).

Key management personnel

Key management personnel comprises the directors of the company. The directors received remuneration in the period as disclosed in note 3.