REGISTERED NUMBER: 02837918 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Aluminium Packaging Recycling

Organisation

(Limited by Guarantee)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N Lett

D Peden FCMA

P M Fisher

J M West

M Arsand

P J E Charles

L Elston

T Giddings

Mrs S Duquerroy-Delesalle

A Laakkonen

Miss A H J Williams

T J Witkowski

SECRETARY:

Attwoods (Bromsgrove) Limited

REGISTERED OFFICE:

182 Worcester Road

Bromsgrove

Worcestershire

B61 7AZ

REGISTERED NUMBER:

02837918 (England and Wales)

AUDITORS:

Kendall Wadley LLP

Chartered Accountants

Merevale House

27 Sansome Walk

Worcester

Worcestershire

WR1 1NU

FIXED ASSETS

Tangible assets

4

10,856

5,185

Investments

5

2

2

10,858

5,187

CURRENT ASSETS

Debtors

6

142,900

271,272

Cash at bank and in hand

424,386

456,055

567,286

727,327

CREDITORS

Amounts falling due within one year

7

225,207

332,788

NET CURRENT ASSETS

342,079

394,539

TOTAL ASSETS LESS CURRENT LIABILITIES

352,937

399,726

RESERVES

Income and expenditure account

352,937

399,726

352,937

399,726

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

P M Fisher - Director

1.	STATUTORY INFORMATION

Aluminium Packaging Recycling Organisation is a private company, limited by guarantee , 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Income

Member's contributions are invoiced on a quarterly basis, based on statistical returns for the prior year, and are recognised in accordance with approved programme delivery for the year.

All sponsorship income is recognised commensurate to the relevant programme expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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 debtors and cash and bank balances, are initially measured at transaction price including transaction 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.

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 creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 receipts 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.

Taxation

The company is liable to taxation only on interest received or non-members activities.

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.

Termination benefits

Termination benefits are accounted for when a liability crystallises on the organisation. The charge is included in the wages and salaries costs in the profit and loss account, and, if material in nature disclosed in the notes to the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

9,738

29,689

39,427

Additions

-

10,252

10,252

Disposals

-

(1,495

)

(1,495

)

At 31 December 2024

9,738

38,446

48,184

DEPRECIATION

At 1 January 2024

8,423

25,819

34,242

Charge for year

329

4,252

4,581

Eliminated on disposal

-

(1,495

)

(1,495

)

At 31 December 2024

8,752

28,576

37,328

NET BOOK VALUE

At 31 December 2024

986

9,870

10,856

At 31 December 2023

1,315

3,870

5,185

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

220

PROVISIONS

At 1 January 2024

and 31 December 2024

218

NET BOOK VALUE

At 31 December 2024

2

At 31 December 2023

2

The cost of investment represents a 100% shareholding in Alupro Limited. The company is registered dormant.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

103,850

224,126

Other debtors

3,239

3,584

VAT

28,795

-

Prepayments and accrued income

7,016

43,562

142,900

271,272

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

115,024

112,321

Taxation

1,379

883

Social security and other taxes

9,743

9,574

VAT

-

6,376

Pension fund

2,222

241

Deferred income

46,000

164,023

Accrued expenses

50,839

39,370

225,207

332,788

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

21,252

21,243

Between one and five years

25,776

47,000

47,028

68,243

9.	FINANCIAL INSTRUMENTS

31.12.24

31.12.23

Carrying amount of financial assets

£

£

Debt instruments measured at amortised cost

107,089

227,710

Equity instruments measured at market value

-

-

Carrying amount of financial liabilities

Measured at amortised cost

168,085

151,932

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

The Report of the Auditors was unqualified.

Sarah Morley ACA (Senior Statutory Auditor)

for and on behalf of Kendall Wadley LLP

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the individual funds. At the year end included within creditors in the balance sheet are unfunded pension costs amounting to £2,222 (2023 - £241).

12.	MEMBERS GUARANTEE

Per the Articles of Association, every Member of the company undertakes to contribute such amounts as may be required (not exceeding £1) to the Company's assets if it should be wound up while they are a Member or within one year after they cease to be a Member, for payment of the Company's debts and liabilities contracted before they cease to be a Member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of contributories among themselves.