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Registered Number: 08016162
England and Wales

 

 

 

BRUNEL RECYCLING LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Director Mr B D Venables
Registered Number 08016162
Registered Office Roodscroft
Hatt
Saltash
PL12 6PJ
Accountants FUEL Accountancy Services Ltd
Chartered Certified Accountants
C3 Apollo Court
Neptune Park
Plymouth
PL4 0SJ
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 172,500    195,000 
Tangible fixed assets 4 3,825,731    3,017,682 
3,998,231    3,212,682 
Current assets      
Debtors 5 1,099,803    1,701,223 
Cash at bank and in hand 54,951    145,011 
1,154,754    1,846,234 
Creditors: amount falling due within one year 6 (1,565,837)   (2,110,017)
Net current assets (411,083)   (263,783)
 
Total assets less current liabilities 3,587,148    2,948,899 
Creditors: amount falling due after more than one year 7 (1,647,465)   (1,024,449)
Provisions for liabilities 8 (96,500)   (96,500)
Net assets 1,843,183    1,827,950 
 

Capital and reserves
     
Called up share capital 200    200 
Profit and loss account 1,842,983    1,827,750 
Shareholders' funds 1,843,183    1,827,950 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 June 2025 and were signed on its behalf by:


-------------------------------
Mr B D Venables
Director
2
Statutory Information
Brunel Recycling Ltd is a private company, limited by shares, 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 (£). 
1.

Accounting policies

Accounting Policies
Statement of compliance
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. 
Basis of preparation
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 taxes.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.
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.
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 or, if held under a finance lease, over the lease term, whichever is the shorter. Plant and machinery etc - 25% on reducing balance and 20% on reducing balance
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.
Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.
Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.
Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).
Leases
At inception the Company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is a finance lease or an operating lease based on the substances of the arrangement.
Finance leases
Leases of assets that transfer substantially all the risks and rewards of ownership to the Company are classified as finance leases.
Assets held under finance leases are recognized initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring profit or loss.
Assets held under finance leases are included intangible fixed assets and depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.
Operating leases
Leases that do no transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.
Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Employee benefits
Short-term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 30 (2023 : 24).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2023 450,000    450,000 
Additions  
Disposals  
At 30 September 2024 450,000    450,000 
Amortisation
At 01 October 2023 255,000    255,000 
Charge for year 22,500    22,500 
On disposals  
At 30 September 2024 277,500    277,500 
Net book values
At 30 September 2024 172,500    172,500 
At 30 September 2023 195,000    195,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 October 2023 3,525,564    1,204,974    18,639    2,025    4,751,202 
Additions 856,625    820,919    91,014    2,722    1,771,280 
Disposals (367,500)   (357,588)       (725,088)
At 30 September 2024 4,014,689    1,668,305    109,653    4,747    5,797,394 
Depreciation
At 01 October 2023 1,079,069    636,641    17,105    705    1,733,520 
Charge for year 302,059    180,934    23,138    1,010    507,141 
On disposals (94,437)   (174,561)       (268,998)
At 30 September 2024 1,286,691    643,014    40,243    1,715    1,971,663 
Net book values
Closing balance as at 30 September 2024 2,727,998    1,025,291    69,410    3,032    3,825,731 
Opening balance as at 01 October 2023 2,446,495    568,333    1,534    1,320    3,017,682 

The net book value of plant & machinery includes £2,008,503 (2023 £1,650,950) in respect of assets leased under finance leases or hire purchase contracts. The net book value of motor vehicles includes £792,346 (2023 £265,938) in respect of assets leased under finance leases or hire purchase contracts.


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 638,808    613,645 
Other Debtors 460,995    1,087,578 
1,099,803    1,701,223 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 660,394    622,204 
Bank Loans & Overdrafts 9,960    9,963 
Taxation and Social Security 41,402    44,153 
Obligations under HP/Financial Leases 691,859    612,259 
Other Creditors 162,222    821,438 
1,565,837    2,110,017 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 6,707    16,707 
Obligations under HP/Financial Leases 1,640,758    1,007,742 
1,647,465    1,024,449 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 96,500    96,500 
96,500    96,500 

9.

Exceptional Items

During the year, the company wrote off loans with a net balance of £133,330 due from related parties under common control. The directors consider this to be an exceptional item due to its size and non-recurring nature.

3