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REGISTERED NUMBER: SC210472 (Scotland)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

S. MCILWRAITH (RECYCLING) LIMITED

S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


S. MCILWRAITH (RECYCLING) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: J D Easdale
R M Easdale



SECRETARY: G L Watt



REGISTERED OFFICE: 121 Barfillan Drive
Glasgow
G52 1BH



REGISTERED NUMBER: SC210472 (Scotland)



AUDITORS: Bannerman Johnstone Maclay
Chartered Accountants
and Statutory Auditor
213 St Vincent Street
Glasgow
G2 5QY



BANKERS: The Royal Bank of Scotland plc
23 Sauchiehall Street
Glasgow
G2 3AD



SOLICITORS: Rennie McInnes LLP
Douglas House
42 Main Street
Milngavie
Glasgow
G62 6BU

S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 252,262 243,447
252,262 243,447

CURRENT ASSETS
Stocks 60,892 123,803
Debtors 6 3,277,359 2,739,413
Cash at bank and in hand 168,204 58,097
3,506,455 2,921,313
CREDITORS
Amounts falling due within one year 7 874,444 697,986
NET CURRENT ASSETS 2,632,011 2,223,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,884,273

2,466,774

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,884,271 2,466,772
SHAREHOLDERS' FUNDS 2,884,273 2,466,774

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 26 August 2025 and were signed on its behalf by:





J D Easdale - Director


S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

S. McIlwraith (Recycling) Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

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.

Land & Buildings - 2% on cost
Plant & Machinery - 20% on cost
Fixtures & Fittings - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Basic financial assets
Basic financial assets, which include certain debtors and cash and bank balances, are initially measured at transaction price including transactions 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.

S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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 certain creditors, 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 26,991
AMORTISATION
At 1 January 2024
and 31 December 2024 26,991
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 315,207 127,802 443,009
Additions - 31,850 31,850
Disposals - (16,250 ) (16,250 )
At 31 December 2024 315,207 143,402 458,609
DEPRECIATION
At 1 January 2024 100,781 98,781 199,562
Charge for year 6,304 12,670 18,974
Eliminated on disposal - (12,189 ) (12,189 )
At 31 December 2024 107,085 99,262 206,347
NET BOOK VALUE
At 31 December 2024 208,122 44,140 252,262
At 31 December 2023 214,426 29,021 243,447

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 309,680 446,578
Amounts owed by group undertakings 2,935,967 2,263,267
Amounts owed by related undertakings 20,266 20,084
Prepayments and accrued income 11,446 9,484
3,277,359 2,739,413

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 269,535 170,424
Amounts owed to group undertakings 912 1,014
Tax 61,619 68,986
VAT 302,639 230,020
Accrued expenses 239,739 227,542
874,444 697,986

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Douglas Paton BSc CA (Senior Statutory Auditor)
for and on behalf of Bannerman Johnstone Maclay

S. MCILWRAITH (RECYCLING) LIMITED (REGISTERED NUMBER: SC210472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. CONTINGENT LIABILITIES

There is a contingent liability for inter-company guarantees given to the company's bankers in respect of overdraft facilities given to group and related companies. This is supported by a bond and floating charge over all the assets of the company and a standard security over certain properties owned by the group.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R. M. Easdale & Company Limited, a company registered in Scotland.