REGISTERED NUMBER: 09320679 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPECTRUM RECYCLING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Whelan

REGISTERED OFFICE:

2 Manor Farm Court,

Old Wolverton Road,

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

REGISTERED NUMBER:

09320679 (England and Wales)

ACCOUNTANTS:

Ad Valorem Accountancy Services Limited

Chartered Certified Accountants

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Buckinghamshire

MK12 5NN

FIXED ASSETS

Tangible assets

4

631,449

662,127

CURRENT ASSETS

Debtors

5

781,100

873,761

Cash at bank

1,322,957

989,663

2,104,057

1,863,424

CREDITORS

Amounts falling due within one year

6

495,436

649,447

NET CURRENT ASSETS

1,608,621

1,213,977

TOTAL ASSETS LESS CURRENT LIABILITIES

2,240,070

1,876,104

CREDITORS

Amounts falling due after more than one year

7

(77,409

)

(174,670

)

PROVISIONS FOR LIABILITIES

(28,927

)

(66,732

)

NET ASSETS

2,133,734

1,634,702

CAPITAL AND RESERVES

Called up share capital

9

203

200

Retained earnings

2,133,531

1,634,502

SHAREHOLDERS' FUNDS

2,133,734

1,634,702

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 director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 September 2025 and were signed by:

M Whelan - Director

1.	STATUTORY INFORMATION

Spectrum Recycling Limited 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.

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.

Long leasehold

-

25% on cost

Plant and machinery

-

33.33% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

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 AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2024

11,554

548,975

8,284

Additions

-

-

-

Disposals

-

-

-

At 31 December 2024

11,554

548,975

8,284

DEPRECIATION

At 1 January 2024

5,890

391,774

5,019

Charge for year

1,889

51,876

1,652

Eliminated on disposal

-

-

-

At 31 December 2024

7,779

443,650

6,671

NET BOOK VALUE

At 31 December 2024

3,775

105,325

1,613

At 31 December 2023

5,664

157,201

3,265

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

1,788,438

33,693

2,390,944

Additions

183,926

-

183,926

Disposals

(142,753

)

-

(142,753

)

At 31 December 2024

1,829,611

33,693

2,432,117

DEPRECIATION

At 1 January 2024

1,292,878

33,256

1,728,817

Charge for year

150,712

436

206,565

Eliminated on disposal

(134,714

)

-

(134,714

)

At 31 December 2024

1,308,876

33,692

1,800,668

NET BOOK VALUE

At 31 December 2024

520,735

1

631,449

At 31 December 2023

495,560

437

662,127

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

708,359

742,475

Other debtors

219

117,119

Prepayments

72,522

14,167

781,100

873,761

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

50,000

Hire purchase contracts

80,073

109,742

Trade creditors

100,371

132,729

Tax

191,808

229,513

Social security and other taxes

20,825

17,741

VAT

93,476

97,776

Other creditors

7,033

9,234

Directors' current accounts

552

1,414

Accruals and deferred income

1,298

1,298

495,436

649,447

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

-

100,906

Hire purchase contracts

77,409

73,764

77,409

174,670

8.	SECURED DEBTS

Of the creditors falling due within and after more than one year there are other creditors of £157,482 (2023: £183,506) are secured.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary share capital class 1

1

100

100

100

Ordinary share capital class 2

1

100

100

1

Ordinary share capital class 3

£1

1

-

201

200