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REGISTERED NUMBER: 12343762 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Greenbank Recycling Solutions Ltd

Greenbank Recycling Solutions Ltd (Registered number: 12343762)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Greenbank Recycling Solutions Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: S Evershed
R K Evershed
G Carruth





REGISTERED OFFICE: Greenbank House
Sotherby Road
Middlesbrough
TS3 8BT





REGISTERED NUMBER: 12343762 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Greenbank Recycling Solutions Ltd (Registered number: 12343762)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 105,140 142,183
Tangible assets 5 1,531,164 1,836,849
1,636,304 1,979,032

CURRENT ASSETS
Stocks 630,062 1,049,791
Debtors 6 1,852,837 924,239
Cash at bank and in hand 842,534 610,605
3,325,433 2,584,635
CREDITORS
Amounts falling due within one year 7 2,143,770 2,047,687
NET CURRENT ASSETS 1,181,663 536,948
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,817,967

2,515,980

CREDITORS
Amounts falling due after more than one
year

8

(423,874

)

(781,964

)

PROVISIONS FOR LIABILITIES (335,000 ) (406,000 )
NET ASSETS 2,059,093 1,328,016

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 2,058,993 1,327,916
SHAREHOLDERS' FUNDS 2,059,093 1,328,016

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

Greenbank Recycling Solutions Ltd (Registered number: 12343762)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 17 April 2025 and were signed on its behalf by:




G Carruth - Director



S Evershed - Director


Greenbank Recycling Solutions Ltd (Registered number: 12343762)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Greenbank Recycling Solutions Ltd 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" 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 tax. Income from machinery rentals and service contracts are pro-rated on a time basis and recognised in the period to which they relate.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks were not available for use by 31 December 2024. As such, the capitalised costs were not amortised in the year.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% 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 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.

Greenbank Recycling Solutions Ltd (Registered number: 12343762)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024 221,552
Additions 3,017
At 31 December 2024 224,569
AMORTISATION
At 1 January 2024 79,369
Charge for year 40,060
At 31 December 2024 119,429
NET BOOK VALUE
At 31 December 2024 105,140
At 31 December 2023 142,183

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 3,309,540 38,062 112,157 3,459,759
Additions 371,235 96,903 21,252 489,390
Disposals (295,080 ) (4,733 ) (72,647 ) (372,460 )
At 31 December 2024 3,385,695 130,232 60,762 3,576,689
DEPRECIATION
At 1 January 2024 1,542,478 5,090 75,342 1,622,910
Charge for year 634,376 22,486 22,982 679,844
Eliminated on disposal (179,849 ) (4,733 ) (72,647 ) (257,229 )
At 31 December 2024 1,997,005 22,843 25,677 2,045,525
NET BOOK VALUE
At 31 December 2024 1,388,690 107,389 35,085 1,531,164
At 31 December 2023 1,767,062 32,972 36,815 1,836,849

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 955,840 795,463
Other debtors 396,997 128,776
1,352,837 924,239

Greenbank Recycling Solutions Ltd (Registered number: 12343762)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 500,000 -

Aggregate amounts 1,852,837 924,239

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 391,895 359,899
Trade creditors 366,787 579,260
Taxation and social security 508,449 381,529
Other creditors 876,639 726,999
2,143,770 2,047,687

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 190,987 495,142
Other creditors 232,887 286,822
423,874 781,964

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 391,895 359,899
Between one and five years 190,987 495,142
582,882 855,041

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 7,234

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 582,882 855,041

Hire purchase liabilities are secured against the assets to which they relate.

Greenbank Recycling Solutions Ltd (Registered number: 12343762)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

12. ULTIMATE CONTROLLING PARTY

The controlling party is Lynx Investments Limited.