Giffords Recycling Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: 07066018

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		114,342		-

			114,342		-
CURRENT ASSETS
Stocks		64,090		49,936
Debtors	5	617,273		563,779
Cash at bank and in hand		416,553		641,186

		1,097,916		1,254,901
Creditors: Amounts Falling Due Within One Year	6	(682,091 )		(675,118 )

NET CURRENT ASSETS (LIABILITIES)			415,825		579,783

TOTAL ASSETS LESS CURRENT LIABILITIES			530,167		579,783

NET ASSETS			530,167		579,783

CAPITAL AND RESERVES
Called up share capital	7		100		100
Income Statement			530,067		579,683

SHAREHOLDERS' FUNDS			530,167		579,783

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Giffords Recycling Limited

Statement of Financial Position (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr E B Hilton Director	Mr J J Poynton Director
23/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Giffords Recycling Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07066018 . The registered office is Brandon Way, West Bromwich, West Midlands, B70 8JN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under this historical cost convention as modified by the revaluation of certain assets.

2.2. Turnover

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

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

10% Straight Line

2.4. Stocks and Work in Progress

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

2.5. Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

2.6. Pensions

The company operates a defined contribution pension scheme for the benefit of its directors and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.

2.7. Government Grant

Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 33 (2023: 33)

4. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 January 2024	-
Additions	127,046

As at 31 December 2024	127,046

Depreciation
As at 1 January 2024	-
Provided during the period	12,704

As at 31 December 2024	12,704

...CONTINUED

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Giffords Recycling Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	114,342

As at 1 January 2024	-

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	542,271	434,403
Amounts owed by group undertakings	13,511	13,511
Other debtors	61,491	115,865

	617,273	563,779

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	308,027	348,966
Other creditors	260,947	235,202
Taxation and social security	113,117	90,950

	682,091	675,118

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

8. Other Commitments

Lease commitments

At 31st December 2024, the Company had lease commitments under non-cancellable operating leases of £444,000

(2023: £750,585)

	2024	2023
	£	£
Not later than one year	444,000	384,103
Later than one year and not later than five years	-	366,482

	444,000	750,585

9. Post Balance Sheet Events

As at the Balance Sheet date, the Company and its associated companies were in the process of changing ownership. This was completed on 7th March 2025.

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Giffords Recycling Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Related Party Transactions

As at the Balance Sheet date, Giffords Recycling Limited was controlled by Mr R D Gifford who also controlled another Company Giffords Commercial Land Limited. At 31st December 2024, Giffords Recycling Limited owes £500 to Giffords Commercial Land Limited. No interest was charged on this loan.

Giffords Recycling Limited is also party to guaranteeing the bank loans for Giffords Commercial Land Limited to a maximum value of £5,825,000.

Giffords Recycling Limited at 31st December 2024 is owed £13,511 by Giffords Equipment Limited.

11. Ultimate Parent Undertaking and Controlling Party

The Company is a wholly owned subsidiary of Giffords Equipment Limited, a company registered in England. The accounts for Giffords Equipment Limited are retained at the registered office being Brandon Way, West Bromwich, West Midlands, B70 8JN, which is also their principal place of business.

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