Company No: 14532020 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.01.2025		31.01.2024
		£		£
Fixed assets
Intangible assets	3	6,611		0
Tangible assets	4	15,000		0
		21,611		0
Current assets
Debtors	5	175,346		100,199
Cash at bank and in hand		13,069		484
		188,415		100,683
Creditors: amounts falling due within one year	6	( 187,337)		( 237,658)
Net current assets/(liabilities)		1,078		(136,975)
Total assets less current liabilities		22,689		(136,975)
Net assets/(liabilities)		22,689		( 136,975)
Capital and reserves
Called-up share capital	7	1		1
Profit and loss account		22,688		( 136,976 )
Total shareholder's funds/(deficit)		22,689		( 136,975)

For the financial year ending 31 January 2025 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 financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Plan B Recycling Technologies Limited (registered number: 14532020) were approved and authorised for issue by the Director on 09 October 2025. They were signed on its behalf by:

Mr W T Cross Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Plan B Recycling Technologies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is 6 Seaton Park, Plymouth, PL6 5WR.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

3 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles

15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the performance model.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

	Year ended 31.01.2025		Period from 09.12.2022 to 31.01.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		3

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 February 2024	0		0
Additions	7,000		7,000
At 31 January 2025	7,000		7,000
Accumulated amortisation
At 01 February 2024	0		0
Charge for the financial year	389		389
At 31 January 2025	389		389
Net book value
At 31 January 2025	6,611		6,611
At 31 January 2024	0		0

4. Tangible assets

	Vehicles		Total
	£		£
Cost
At 01 February 2024	0		0
Additions	15,000		15,000
At 31 January 2025	15,000		15,000
Accumulated depreciation
At 01 February 2024	0		0
At 31 January 2025	0		0
Net book value
At 31 January 2025	15,000		15,000
At 31 January 2024	0		0

5. Debtors

	31.01.2025		31.01.2024
	£		£
Trade debtors	0		64
Other debtors	175,346		100,135
	175,346		100,199

6. Creditors: amounts falling due within one year

	31.01.2025		31.01.2024
	£		£
Trade creditors	27,964		87,628
Taxation and social security	15,244		4,300
Other creditors	144,129		145,730
	187,337		237,658

7. Called-up share capital

	31.01.2025		31.01.2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

8. Related party transactions

Transactions with the entity's director

	31.01.2025		31.01.2024
	£		£
Balance brought forward	0		0
Advances in the year	3,761		0
	0		0
Balance carried forward	3,761		0

The above loan is repayable on demand and incurs interest at the official rate per HMRC.

9. Ultimate controlling party

Parent Company:

Plan B Circular Group Limited

C/o Francis Clark LLP Unit 18, 23 Melville Building East, Royal William Yard, Plymouth, Devon, United Kingdom, PL1 3GW.