REGISTERED NUMBER: 07017040 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KEY RECYCLING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J M Aston

A M Aston

D W Aston

REGISTERED OFFICE:

Highwood Farm

Coventry Road

Brinklow

Rugby

CV23 0NJ

REGISTERED NUMBER:

07017040 (England and Wales)

ACCOUNTANTS:

Philip Barnes & Co Limited

Chartered Accountants

The Old Council Chambers

Halford Street

Tamworth

Staffordshire

B79 7RB

FIXED ASSETS

Tangible assets

4

2,095,964

2,414,023

CURRENT ASSETS

Stocks

190,150

185,999

Debtors

5

743,471

323,343

Cash at bank

38,160

23,401

971,781

532,743

CREDITORS

Amounts falling due within one year

6

518,694

520,552

NET CURRENT ASSETS

453,087

12,191

TOTAL ASSETS LESS CURRENT LIABILITIES

2,549,051

2,426,214

CREDITORS

Amounts falling due after more than one year

7

(298,040

)

(422,988

)

PROVISIONS FOR LIABILITIES

(463,000

)

(376,000

)

NET ASSETS

1,788,011

1,627,226

CAPITAL AND RESERVES

Called up share capital

101

101

Share premium

1,000

1,000

Retained earnings

1,786,910

1,626,125

1,788,011

1,627,226

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2025 and were signed on its behalf by:

D W Aston - Director

1.	STATUTORY INFORMATION

Key Recycling Ltd is a private company, 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.

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.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Motor vehicles

-

25% reducing balance

Computer equipment

-

25% 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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

The average number of employees during the year was 1 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

5,383,036

50,326

120,600

9,470

5,563,432

Additions

49,960

-

-

-

49,960

At 31 December 2024

5,432,996

50,326

120,600

9,470

5,613,392

DEPRECIATION

At 1 January 2024

3,005,395

37,411

97,770

8,833

3,149,409

Charge for year

360,211

1,937

5,708

163

368,019

At 31 December 2024

3,365,606

39,348

103,478

8,996

3,517,428

NET BOOK VALUE

At 31 December 2024

2,067,390

10,978

17,122

474

2,095,964

At 31 December 2023

2,377,641

12,915

22,830

637

2,414,023

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

501,934

116,557

Other debtors

241,537

206,786

743,471

323,343

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

120,131

155,656

Trade creditors

48,703

67,610

Taxation and social security

68,113

36,833

Other creditors

281,747

260,453

518,694

520,552

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

298,040

422,988

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

£

£

D W Aston

Balance outstanding at start of year

76,350

-

Amounts advanced

85,143

99,550

Amounts repaid

(144,500

)

(23,200

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

16,993

76,350

The loan was repaid within 9 months of the year end and interest was charged at HMRC's approved rate.

9.	RELATED PARTY DISCLOSURES

Included within other creditors are amounts totalling £246,445 (2023: £255,550) owed to associated companies.