Company registration number 04651550 (England and Wales)
ALDERMASTON RECYCLING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
ALDERMASTON RECYCLING LIMITED
COMPANY INFORMATION
Directors
Mr H Hutchins
(Appointed 20 November 2024)
Mr J Hutchins
(Appointed 20 November 2024)
Company number
04651550
Registered office
2 Lake End Court
Taplow Road
Taplow
Maidenhead
Berkshire
SL6 0JQ
Auditor
Stiles Accountants Limited
2 Lake End Court
Taplow Road
Taplow
Maidenhead
Berkshire
SL6 0JQ
Business address
Old Stocks Farm
Paices Hill
Aldermaston
Berkshire
RG7 4PG
ALDERMASTON RECYCLING LIMITED
CONTENTS
Page
Directors' report
1 - 2
Balance sheet
3
Notes to the financial statements
4 - 10
ALDERMASTON RECYCLING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 May 2024.

Principal activities

The principal activity of the company continued to be that of waste management.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr I Hutchins -Deceased
(Deceased 18 December 2024)
Mr H Hutchins
(Appointed 20 November 2024)
Mr J Hutchins
(Appointed 20 November 2024)
Auditor

In accordance with the company's articles, a resolution proposing that Stiles Accountants Limited be reappointed as auditor of the company will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report 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:

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 of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

ALDERMASTON RECYCLING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr H Hutchins
Mr J Hutchins
Director
Director
23 May 2025
ALDERMASTON RECYCLING LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,049,364
3,176,362
Current assets
Stocks
8,417
5,534
Debtors
4
715,783
516,022
Cash at bank and in hand
386,173
330,674
1,110,373
852,230
Creditors: amounts falling due within one year
5
(1,521,002)
(1,650,574)
Net current liabilities
(410,629)
(798,344)
Total assets less current liabilities
2,638,735
2,378,018
Creditors: amounts falling due after more than one year
6
(100,865)
(177,729)
Provisions for liabilities
(145,115)
(137,044)
Net assets
2,392,755
2,063,245
Capital and reserves
Called up share capital
8
700,000
700,000
Profit and loss reserves
1,692,755
1,363,245
Total equity
2,392,755
2,063,245

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 May 2025 and are signed on its behalf by:
Mr H Hutchins
Mr J Hutchins
Director
Director
Company registration number 04651550 (England and Wales)
ALDERMASTON RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
1
Accounting policies
Company information

Aldermaston Recycling Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Lake End Court, Taplow Road, Taplow, Maidenhead, Berkshire, SL6 0JQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from services provided are generally reflected on the day of completion. Sales for skip hire are recognised in full on the delivery of hire skip's to the customers sites. An appropriate proportion of deferred income is made where those hire skips have not been collected from customers sites for recycling at the year end.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line on buildings only
Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Motor vehicles
20% reducing balance, with a 20% residual value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

ALDERMASTON RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ALDERMASTON RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ALDERMASTON RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 7 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
30
26
ALDERMASTON RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 8 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023
2,219,179
671,829
519,926
1,291,315
4,702,249
Additions
-
0
94,180
16,795
9,000
119,975
Disposals
-
0
(87,500)
-
0
(197,847)
(285,347)
At 31 May 2024
2,219,179
678,509
536,721
1,102,468
4,536,877
Depreciation and impairment
At 1 June 2023
182,422
408,564
434,300
500,601
1,525,887
Depreciation charged in the year
20,284
48,122
10,411
92,335
171,152
Eliminated in respect of disposals
-
0
(77,292)
-
0
(132,234)
(209,526)
At 31 May 2024
202,706
379,394
444,711
460,702
1,487,513
Carrying amount
At 31 May 2024
2,016,473
299,115
92,010
641,766
3,049,364
At 31 May 2023
2,036,757
263,265
85,626
790,714
3,176,362

Net obligations under finance leases and hire purchase contracts are secured by way of a fixed charge over the assets concerned. At the year end motor vehicles with a net book value of £239,114 (2023 - £613,282) and plant of £252,983 (2023 - £203,401) were under hire purchase agreements.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
472,567
408,940
Other debtors
243,216
89,809
715,783
498,749
Deferred tax asset
-
0
17,273
715,783
516,022
ALDERMASTON RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 9 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
7
119,824
178,260
Trade creditors
215,315
415,970
Amounts owed to group undertakings
672,697
672,585
Taxation and social security
142,056
150,342
Other creditors
19,659
19,957
Accruals and deferred income
351,451
213,460
1,521,002
1,650,574
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
7
100,865
177,729
7
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
126,287
189,465
In two to five years
107,855
192,016
234,142
381,481
Less: future finance charges
(13,453)
(25,492)
220,689
355,989

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
700,000
700,000
700,000
700,000
ALDERMASTON RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 10 -
9
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
13,173
12,133

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Mr Daniel Robins
Statutory Auditor:
Stiles Accountants Limited
Date of audit report:
23 May 2025
11
Related party transactions

At the year end the company owed £672,585 (2022 - £622,340) to it's parent company Ron Smith (Recycling) Limited. The loan is interest free and repayable on demand.

12
Parent company

The Company’s ultimate parent undertaking and controlling party was Ron Smith (Recycling) Ltd, a Company incorporated in the UK and which was the smallest and largest of such group undertakings of which the Company is a member and for which group financial statements are prepared. Copies of its financial statements are available from St Albans Farm, Staines Road, Feltham, Middlesex, TW14 0HH.

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