Reuseaworld Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08954610

Reuseaworld Ltd

Filleted Unaudited Financial Statements

31 December 2024

Reuseaworld Ltd

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	5	4,357	38,367
Tangible assets	6	71,884	105,248
		--------	---------
		76,241	143,615

Current assets

Stocks		67,471	67,471
Debtors	7	1,092,175	764,799
Cash at bank and in hand		35,719	39,512
		------------	---------
		1,195,365	871,782

Creditors: amounts falling due within one year	8	1,498,485	949,438
		------------	---------
Net current liabilities		303,120	77,656
		---------	---------
Total assets less current liabilities		( 226,879)	65,959
		---------	--------

Capital and reserves

Called up share capital	300	300
Profit and loss account	( 227,179)	65,659
	---------	--------
Shareholder (deficit)/funds	( 226,879)	65,959
	---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Reuseaworld Ltd

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 19 September 2025 , and are signed on behalf of the board by:

M Fitzgerald
Director

Company registration number: 08954610

Reuseaworld Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Pywell Road, Willowbrook Industrial Estate, Corby, Northants, NN17 5XJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Related party disclosures exemption

The company has taken advantage of exemptions under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern

The accounts have been prepared on a going concern basis assuming the continued support of the company's director and fellow subsidiary.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) Disclosures in respect of share-based payments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	10% straight line
Patents, trademarks and licences	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	Over the life of the lease
Plant and machinery	-	20% straight line
Fixtures and fittings	-	10% straight line
Motor vehicles	-	25% straight line
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 41 (2023: 54 ).

5. Intangible assets

	Goodwill	Patents, trademarks and licences	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	450,000	5,202	455,202
	---------	-------	---------
Amortisation
At 1 January 2024	416,250	585	416,835
Charge for the year	33,750	260	34,010
	---------	-------	---------
At 31 December 2024	450,000	845	450,845
	---------	-------	---------
Carrying amount
At 31 December 2024	–	4,357	4,357
	---------	-------	---------
At 31 December 2023	33,750	4,617	38,367
	---------	-------	---------

6. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024 and 31 December 2024	42,968	137,423	110,024	14,644	305,059
	--------	---------	---------	--------	---------
Depreciation
At 1 January 2024	28,082	69,702	90,417	11,610	199,811
Charge for the year	4,060	22,328	5,170	1,806	33,364
	--------	---------	---------	--------	---------
At 31 December 2024	32,142	92,030	95,587	13,416	233,175
	--------	---------	---------	--------	---------
Carrying amount
At 31 December 2024	10,826	45,393	14,437	1,228	71,884
	--------	---------	---------	--------	---------
At 31 December 2023	14,886	67,721	19,607	3,034	105,248
	--------	---------	---------	--------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	33,769	53,952
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,007,287	585,650
Other debtors	51,119	125,197
	------------	---------
	1,092,175	764,799
	------------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	269,575	204,948
Social security and other taxes	370,104	29,262
Other creditors	858,806	715,228
	------------	---------
	1,498,485	949,438
	------------	---------

9. Related party transactions

CTR (Collections) Limited is a wholly owned subsidiary of CTR (Group) Limited, a company in which M Fitzgerald has a controlling interest. At the balance sheet date there was an amount of £840,717 (2023 £706,350) due to this company. Purchases from this company were made under normal market conditions.

10. Controlling party

The company is a wholly owned subsidiary of Hammer Time Auctions Limited, a company incorporated in England and Wales.