Company registration number 02433757 (England and Wales)
PRINCE RECYCLING LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
PRINCE RECYCLING LIMITED
COMPANY INFORMATION
Directors
J Prince
L Prince
M Prince
J Wright
Company number
02433757
Registered office
Gowers Farm
High Roding
Great Dunmow
Essex
United Kingdom
CM6 1NL
Accountants
Xeinadin South East Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT
Business address
Gowers Farm
High Roding
Great Dunmow
Essex
UK
CM6 1NL
PRINCE RECYCLING LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
3
Profit and loss account
Balance sheet
4
Statement of changes in equity
5
Notes to the financial statements
6 - 9
PRINCE RECYCLING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -

The directors present their annual report and financial statements for the year ended 31 January 2025.

Principal activities

The principal activity of the company continued to be that of general recycling and waste removal.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

J Prince
L Prince
M Prince
J Wright
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
J Prince
Director
20 May 2025
PRINCE RECYCLING LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PRINCE RECYCLING LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF PRINCE RECYCLING LIMITED
- 3 -

These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 January 2025.

We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.

On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.

You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.

The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.

Xeinadin South East Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT
2 May 2025
PRINCE RECYCLING LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 4 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
680,864
767,117
Current assets
Stocks
2,500
2,000
Debtors
5
143,171
150,894
Cash at bank and in hand
3,317
301
148,988
153,195
Creditors: amounts falling due within one year
6
(432,401)
(419,428)
Net current liabilities
(283,413)
(266,233)
Total assets less current liabilities
397,451
500,884
Creditors: amounts falling due after more than one year
7
(340,369)
(442,274)
Provisions for liabilities
(27,000)
(27,000)
Net assets
30,082
31,610
Capital and reserves
Called up share capital
30,007
30,007
Profit and loss reserves
75
1,603
Total equity
30,082
31,610

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

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 May 2025 and are signed on its behalf by:
J Prince
Director
Company registration number 02433757 (England and Wales)
PRINCE RECYCLING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 February 2023
30,000
21,181
51,181
Year ended 31 January 2024:
Profit and total comprehensive income
-
154,551
154,551
Issue of share capital
7
-
7
Dividends
-
(174,129)
(174,129)
Balance at 31 January 2024
30,007
1,603
31,610
Year ended 31 January 2025:
Profit and total comprehensive income
-
153,774
153,774
Dividends
-
(155,302)
(155,302)
Balance at 31 January 2025
30,007
75
30,082
PRINCE RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
1
Accounting policies
Company information

Prince Recycling Limited is a private company limited by shares incorporated in England and Wales. The registered office is Gowers Farm, High Roding, Great Dunmow, Essex, United Kingdom, CM6 1NL.

1.1
Accounting convention

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts have been prepared on the going concern basis which assumes the continued support of the directors and shareholders. The directors have confirmed that this support will continue and believe that no adjustments relating to the company's ability to continue as a going concern need to be made to these financial statements.true

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Straight line over 10 years
Plant and machinery
20% on reducing balance
Fixtures and fittings
15% on reducing balance
Motor vehicles
15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.

PRINCE RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 7 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
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

1.9

Debtors

Short term debtors are measured at transaction price, less any impairment.

1.10

Creditors

Short term creditors are measured at the transaction price.

Other financial liabilities, including bank loans are also measured at transaction price since the difference between this basis and the amortised cost basis is not material.

2
Judgements and key sources of estimation uncertainty

No significant judgements or estimations have been applied in the preparation of the financial statements.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
15
15
PRINCE RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2024
108,923
1,405,754
1,514,677
Additions
-
0
42,650
42,650
Disposals
-
0
(94,500)
(94,500)
At 31 January 2025
108,923
1,353,904
1,462,827
Depreciation and impairment
At 1 February 2024
-
0
747,560
747,560
Depreciation charged in the year
-
0
109,239
109,239
Eliminated in respect of disposals
-
0
(74,836)
(74,836)
At 31 January 2025
-
0
781,963
781,963
Carrying amount
At 31 January 2025
108,923
571,941
680,864
At 31 January 2024
108,923
658,194
767,117

The net book value of assets of £680,864 (2024: £767,117) includes an amount of £229,143 (2024: £313,551) in respect of assets held on finance. Of the depreciation charged in the profit and loss account, £55,490 (2024: £65,281) relates to assets held on finance.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
129,729
150,894
Other debtors
13,442
-
0
143,171
150,894
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
136,293
104,180
Trade creditors
81,013
127,739
Taxation and social security
106,783
68,004
Other creditors
108,312
119,505
432,401
419,428
PRINCE RECYCLING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 9 -
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
8
110,435
164,465
Obligations under finance leases
154,934
202,809
Other borrowings
8
75,000
75,000
340,369
442,274
8
Loans and overdrafts
2025
2024
£
£
Bank loans
173,142
222,172
Bank overdrafts
73,586
46,473
Other loans
75,000
75,000
321,728
343,645
Payable within one year
136,293
104,180
Payable after one year
185,435
239,465

A debenture dated 30 September 2005 is held over all assets of the company by HSBC bank plc

9
Directors' transactions

At the balance sheet date an amount of £8,266 was due to the company by its director L Prince (2023: an amount owing to the director of £4,777). Also at the balance sheet date, £5,174 was due to the company from its director J Prince (2023:£7,526 was due to the director). These amounts have been included within other debtors. Interest is charged on these balances at the official rate of interest.

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