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11 July 2025
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No description of principal activity
2024-01-01
Sage Accounts Production Advanced 2024 - FRS102_2024
1
1
1
xbrli:pure
xbrli:shares
iso4217:GBP
08059031
2024-01-01
2024-12-31
08059031
2024-12-31
08059031
2023-12-31
08059031
2023-01-01
2023-12-31
08059031
2023-12-31
08059031
2022-12-31
08059031
bus:OrdinaryShareClass1
2024-01-01
2024-12-31
08059031
bus:Director1
2024-01-01
2024-12-31
08059031
core:WithinOneYear
2024-12-31
08059031
core:WithinOneYear
2023-12-31
08059031
core:ShareCapital
2024-12-31
08059031
core:ShareCapital
2023-12-31
08059031
core:RetainedEarningsAccumulatedLosses
2024-12-31
08059031
core:RetainedEarningsAccumulatedLosses
2023-12-31
08059031
core:PlantMachinery
2024-12-31
08059031
core:PlantMachinery
2023-12-31
08059031
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2024-01-01
2024-12-31
08059031
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2024-01-01
2024-12-31
08059031
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2024-01-01
2024-12-31
08059031
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2024-01-01
2024-12-31
08059031
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2024-01-01
2024-12-31
08059031
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2024-12-31
08059031
bus:OrdinaryShareClass1
2023-12-31
08059031
core:PlantMachinery
2024-01-01
2024-12-31
COMPANY REGISTRATION NUMBER:
08059031
|
Filleted Financial Statements |
|
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
Current assets
|
Debtors |
5 |
280,054 |
|
183,963 |
|
Cash at bank and in hand |
1,313,008 |
|
1,152,900 |
|
------------ |
|
------------ |
|
1,593,062 |
|
1,336,863 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
1,332,823 |
|
1,113,775 |
|
------------ |
|
------------ |
|
Net current assets |
|
260,239 |
223,088 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
260,240 |
223,089 |
|
|
--------- |
--------- |
|
Net assets |
|
260,240 |
223,089 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
8 |
|
1 |
1 |
|
Profit and loss account |
|
260,239 |
223,088 |
|
|
--------- |
--------- |
|
Shareholder funds |
|
260,240 |
223,089 |
|
|
--------- |
--------- |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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 were approved by the
board of directors
and authorised for issue on
11 July 2025
, and are signed on behalf of the board by:
Company registration number:
08059031
Date: 21 July 2023
|
Notes to the Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced for the provision of materials for recycling during the year, exclusive of Value Added Tax, and member funding which represents contributions from members of The Alliance for Beverage Cartons and the Environment Limited, excluding Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and Machinery |
- |
Straightline over useful life of 10 years/lease lifetime if leased assets |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Tangible assets
|
Plant and machinery |
Total |
|
£ |
£ |
|
Cost |
|
|
|
At 1 January 2024 and 31 December 2024 |
1 |
1 |
|
---- |
---- |
|
Depreciation |
|
|
|
At 1 January 2024 and 31 December 2024 |
– |
– |
|
---- |
---- |
|
Carrying amount |
|
|
|
At 31 December 2024 |
1 |
1 |
|
---- |
---- |
|
At 31 December 2023 |
1 |
1 |
|
---- |
---- |
|
|
|
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
124,993 |
82,959 |
|
Amounts due from related parties |
143,248 |
95,473 |
|
Other debtors |
11,813 |
5,531 |
|
--------- |
--------- |
|
280,054 |
183,963 |
|
--------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
36,119 |
105,351 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
1,154,237 |
910,112 |
|
Social security and other taxes |
3,386 |
– |
|
Other creditors |
139,081 |
98,312 |
|
------------ |
------------ |
|
1,332,823 |
1,113,775 |
|
------------ |
------------ |
|
|
|
7.
Provisions
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Provisions |
120,008 |
74,342 |
|
|
--------- |
-------- |
|
|
|
|
The company has historically provided for an expected loss in the contract with a joint venture partner.
8.
Called up share capital
Authorised share capital
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
1 |
1 |
1 |
1 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
1 |
1 |
1 |
1 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
9.
Summary audit opinion
The auditor's report dated
11 July 2025
was
unqualified
.
The senior statutory auditor was
Diane Petit-Laurent FCA
, for and on behalf of
Saffery LLP
.
10.
Related party transactions
The company invoiced the members of The Alliance for Beverage Cartons and the Environment Limited (the parent) a total of £756,650 (2023 £690,490) in the year. At the year end the company was owed £143,248 (2023 £95,473) by those members in respect of outstanding invoices. At the year end a balance of £1,154,237 was due to a company with significant influence over the company (2023 £910,112 was owed to a company with significant influence over the company).
11.
Controlling party
The ultimate parent company is
The Alliance for Beverage Cartons and the Environment Limited
(Company Number 07413708), which owns 100% of the shares in ReCarton UK Limited
. The registered office of the ultimate parent company is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.