Mayling Recycling Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04994760

Mayling Recycling Limited

Filleted Unaudited Financial Statements

31 January 2025

Mayling Recycling Limited

Financial Statements

Year ended 31st January 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Mayling Recycling Limited

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5		166,234		260,921

Current assets

Debtors	6	432,624	324,827
Cash at bank and in hand		76,828	128,319
		----------	----------
		509,452	453,146

Creditors: amounts falling due within one year	7	442,569		366,982
		----------		----------
Net current assets			66,883		86,164
			----------		----------
Total assets less current liabilities			233,117		347,085

Creditors: amounts falling due after more than one year	8		–		30,542

Provisions

Taxation including deferred tax	73,363	73,363
	----------	----------
Net assets	159,754	243,180
	----------	----------

Capital and reserves

Called up share capital	9	100	100
Profit and loss account		159,654	243,080
		----------	----------
Shareholders funds		159,754	243,180
		----------	----------

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 31st January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

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

Mayling Recycling Limited

Statement of Financial Position (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 16 September 2025 , and are signed on behalf of the board by:

Mr. A. O'Malley

Director

Company registration number: 04994760

Mayling Recycling Limited

Notes to the Financial Statements

Year ended 31st January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Printing House, 66 Lower Road, Harrow, HA2 0DH.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

	Plant and machinery	-	15% 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 are largely independent of the cash inflows from other assets or groups of assets.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Tangible assets

	Plant and machinery	Total
	£	£
Cost
At 1st February 2024 and 31st January 2025	939,437	939,437
	----------	----------
Depreciation
At 1st February 2024	678,516	678,516
Charge for the year	94,687	94,687
	----------	----------
At 31st January 2025	773,203	773,203
	----------	----------
Carrying amount
At 31st January 2025	166,234	166,234
	----------	----------
At 31st January 2024	260,921	260,921
	----------	----------

6. Debtors

	2025	2024
	£	£
Trade debtors	254,270	133,222
Amounts owed by group undertakings	175,868	175,868
Prepayments and accrued income	2,444	2,300
Other debtors	42	13,437
	----------	----------
	432,624	324,827
	----------	----------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	281,260	218,650
Accruals and deferred income	1,500	1,500
Social security and other taxes	10,751	–
Obligations under finance leases and hire purchase contracts	4,148	–
Director loan accounts	134,910	136,832
Other creditors	10,000	10,000
	----------	----------
	442,569	366,982
	----------	----------

Obligations under finance leases and hire purchase contracts are secured by the assets purchased under these contracts.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Obligations under finance leases and hire purchase contracts	–	30,542
	----	--------

Obligations under finance leases and hire purchase contracts are secured by the assets purchased under these contracts.

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

10. Related party transactions

The amounts owed by related parties are in respect of short-term interest free loans and trading activities.

	2025	2024
	£	£
Balance owed by:
Other related parties	7,754	4,531
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