Company registration number 06625724 (England and Wales)
THE RECYCLING ASSOCIATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
THE RECYCLING ASSOCIATION LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
THE RECYCLING ASSOCIATION LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,084
346,846
Investments
3
2
53
4,086
346,899
Current assets
Debtors
5
166,304
473,824
Cash at bank and in hand
718,044
170,789
884,348
644,613
Creditors: amounts falling due within one year
6
(183,213)
(188,365)
Net current assets
701,135
456,248
Total assets less current liabilities
705,221
803,147
Provisions for liabilities
-
0
(26,250)
Net assets
705,221
776,897
Capital and reserves
Called up share capital
-
0
-
0
Revaluation reserve
9
-
0
90,172
Profit and loss reserves
705,221
686,725
Total equity
705,221
776,897
THE RECYCLING ASSOCIATION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 30 May 2025 and are signed on its behalf by:
Ms C Grant
Director
Company registration number 06625724 (England and Wales)
THE RECYCLING ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

The Recycling Association Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Stables, Paradise Wharf, Ducie Street, Manchester, United Kingdom, M1 2JN.

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.

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
Subject to revaluation
Fixtures and fittings
25% on reducing balance
Computers
33% straight line
Motor vehicles
25% on cost

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
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.5
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.

THE RECYCLING ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
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’ and Section 12 ‘Other Financial Instruments Issues’ 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.

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.

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2024
2023
Number
Number
Total
5
5
THE RECYCLING ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
2
53
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2024
53
Disposals
(51)
At 31 December 2024
2
Carrying amount
At 31 December 2024
2
At 31 December 2023
53
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
300,000
73,788
373,788
Additions
-
0
2,849
2,849
Disposals
(300,000)
(68,384)
(368,384)
At 31 December 2024
-
0
8,253
8,253
Depreciation and impairment
At 1 January 2024
-
0
26,942
26,941
Depreciation charged in the year
-
0
4,229
4,229
Eliminated in respect of disposals
-
0
(27,001)
(27,001)
At 31 December 2024
-
0
4,169
4,169
Carrying amount
At 31 December 2024
-
0
4,084
4,084
At 31 December 2023
300,000
46,846
346,846
THE RECYCLING ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
42,266
7,859
Other debtors
124,038
465,965
166,304
473,824

Included in Other Debtors is £101,102 (2023: £101,051) owed by TRA Traqa Limited a formally connected party. The Directors are of the opinion that this is recoverable.

6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
17,780
11,603
Taxation and social security
15,661
20,894
Other creditors
149,772
155,868
183,213
188,365

Included within other creditors is £130,900 (2023 - £130,900) of bond deposits paid by the members.

7
Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8
Ultimate controlling party

There is no party with overall control.

9
Revaluation reserve
2024
2023
£
£
At the beginning of the year
90,172
11,422
Revaluation surplus arising in the year
-
0
105,000
Deferred tax on revaluation of freehold property
26,250
(26,250)
Transfer to retained earnings
(116,422)
-
0
At the end of the year
-
0
90,172
THE RECYCLING ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
10
Company limited by guarantee

The Company is Limited by Guarantee and does not have any share capital.

 

In the event that the Company is wound up, the liability of the members is restricted to an amount not exceeding £1 per member.

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