REGISTERED NUMBER: 07710143 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HIGGINS RECYCLING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs D M Higgins

Mr C P Higgins

REGISTERED OFFICE:

Wynn Cottage Farm

Brind

Howden

Goole

East Yorkshire

DN14 7LA

REGISTERED NUMBER:

07710143 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Tangible assets

4

597,761

592,609

CURRENT ASSETS

Stocks

206,966

194,501

Debtors

5

5,113,244

4,642,832

Cash at bank

507,409

623,161

5,827,619

5,460,494

CREDITORS

Amounts falling due within one year

6

536,998

579,384

NET CURRENT ASSETS

5,290,621

4,881,110

TOTAL ASSETS LESS CURRENT LIABILITIES

5,888,382

5,473,719

PROVISIONS FOR LIABILITIES

113,781

21,421

NET ASSETS

5,774,601

5,452,298

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

5,774,451

5,452,148

SHAREHOLDERS' FUNDS

5,774,601

5,452,298

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 Income Statement 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:

Mrs D M Higgins - Director

Mr C P Higgins - Director

1.	STATUTORY INFORMATION

Higgins Recycling Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Wynn Cottage Farm, Brind, Howden, Goole, East Yorkshire, DN14 7LA.

The principal activity of the Company is that the processing and sale of recycled materials.

The presentational currency of the financial statements is Pound Sterling (£).

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% 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 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.

Taxation

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 20 (2023 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

443,983

509,885

953,868

Additions

-

126,922

126,922

Disposals

-

(98,167

)

(98,167

)

At 31 December 2024

443,983

538,640

982,623

DEPRECIATION

At 1 January 2024

-

361,259

361,259

Charge for year

-

74,066

74,066

Eliminated on disposal

-

(50,463

)

(50,463

)

At 31 December 2024

-

384,862

384,862

NET BOOK VALUE

At 31 December 2024

443,983

153,778

597,761

At 31 December 2023

443,983

148,626

592,609

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

122,000

DEPRECIATION

At 1 January 2024

and 31 December 2024

89,467

NET BOOK VALUE

At 31 December 2024

32,533

At 31 December 2023

32,533

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

345,084

471,053

Amounts owed by group undertakings

3,987,087

2,973,612

Other debtors

781,073

1,198,167

5,113,244

4,642,832

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

15,090

Trade creditors

383,914

490,370

Taxation and social security

135,577

56,663

Other creditors

17,507

17,261

536,998

579,384

7.	ULTIMATE CONTROLLING PARTY

The company is under the control of the directors who own 100% of the issued share capital of the group holding company.