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REGISTERED NUMBER: SC253465 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Total Recycling (Scotland) Ltd

Total Recycling (Scotland) Ltd (Registered number: SC253465)






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

Chartered Accountants' Report 9

Total Recycling (Scotland) Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J R McCulloch
P H Speedie



REGISTERED OFFICE: Pottishaw Place
Whitehill Industrial Estate
Bathgate
West Lothian
EH48 2EN



REGISTERED NUMBER: SC253465 (Scotland)



ACCOUNTANTS: Sharles Audit Limited
29 Brandon Street
Hamilton
ML3 6DA



BANKERS: Virgin Money
6 George Place
Bathgate
West Lothian
Edinburgh
EH48 1NP

Total Recycling (Scotland) Ltd (Registered number: SC253465)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,639,819 1,372,139

CURRENT ASSETS
Debtors 6 14,264,791 9,532,122
Cash at bank 6,694,319 4,404,971
20,959,110 13,937,093
CREDITORS
Amounts falling due within one year 7 19,097,152 11,902,102
NET CURRENT ASSETS 1,861,958 2,034,991
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,501,777

3,407,130

PROVISIONS FOR LIABILITIES 281,720 189,289
NET ASSETS 3,220,057 3,217,841

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,220,055 3,217,839
SHAREHOLDERS' FUNDS 3,220,057 3,217,841

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.

Total Recycling (Scotland) Ltd (Registered number: SC253465)

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 27 June 2025 and were signed on its behalf by:





J R McCulloch - Director


Total Recycling (Scotland) Ltd (Registered number: SC253465)

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

1. STATUTORY INFORMATION

Total Recycling (Scotland) Ltd is a private company, limited by shares , registered in Scotland. 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. 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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.

Revenue from skip hire and waste disposal is recognised when the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on straight line

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.

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).

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

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.


Total Recycling (Scotland) Ltd (Registered number: SC253465)

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

3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Total Recycling (Scotland) Ltd (Registered number: SC253465)

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

3. ACCOUNTING POLICIES - continued

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.

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.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
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. 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.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Total Recycling (Scotland) Ltd (Registered number: SC253465)

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

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 6,226,694
Additions 907,060
At 31 December 2024 7,133,754
DEPRECIATION
At 1 January 2024 4,854,555
Charge for year 639,380
At 31 December 2024 5,493,935
NET BOOK VALUE
At 31 December 2024 1,639,819
At 31 December 2023 1,372,139

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 821,085 667,271
Other debtors 13,443,706 8,864,851
14,264,791 9,532,122

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 199,040 256,350
Taxation and social security 158 39,958
Other creditors 18,897,954 11,605,794
19,097,152 11,902,102

Total Recycling (Scotland) Ltd (Registered number: SC253465)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
J R McCulloch
Balance outstanding at start of year - -
Amounts advanced 4,303 -
Amounts repaid (190 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,113 -

9. RELATED PARTY DISCLOSURES

Dem-Master Demolition Limited
An associated company

During the year, the company advanced loans totalling £411,077 to Dem-Master Demolition Limited. At the year end, the balance due from Dem-Master Demolition Limited was £7,260,366 (2023 - £6,849,289)

McCulloch Property Limited
An associated company

During the year, the company advanced loans totalling £513,240 to McCulloch Property Limited. At the year end, the balance due from McCulloch Property Limited was £1,208,110 (2023 - £694,870)

Overhillhouse Farm
An associated company

During the year, the company advanced £NIL to Overhillhouse Farm. At the year end, the balance due from Overhillhouse Farm was £277,265 (2023 - £277,265)

J&M Property Services (Shotts) Ltd
An associated company

During the year, J&M Property Services (Shotts) Ltd advanced £NIL to the company. At the year end, the balance due to J&M Property Services (Shotts) Ltd was £352,800 (2023 - £352,800)

Shotts Business Park Ltd
An associated company

During the year, Shotts Business Park Ltd advanced £NIL to the company. At the year end, the balance due to Shotts Business Park Ltd was £75,000 (2023 - £75,000)

Robinson & Birdsell Ltd
An associated company

During the year, Robinson & Birdsell advanced loans totalling £923,161 to the company. At the year end, the balance due to Robinson & Birdsell was £912,000 (2023 £11,161 owed from Robinson & Birdsell)

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R McCulloch.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Total Recycling (Scotland) Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Total Recycling (Scotland) Ltd for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the Board of Directors of Total Recycling (Scotland) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Total Recycling (Scotland) Ltd and state those matters that we have agreed to state to the Board of Directors of Total Recycling (Scotland) Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Total Recycling (Scotland) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Total Recycling (Scotland) Ltd. You consider that Total Recycling (Scotland) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Total Recycling (Scotland) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Audit Limited
29 Brandon Street
Hamilton
ML3 6DA


27 June 2025