International Rubber & Tyre Recycling Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07890857

International Rubber & Tyre Recycling Limited

Filleted Unaudited Financial Statements

31 December 2024

International Rubber & Tyre Recycling Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		61,539	105,279

Current assets

Stocks		–	97,192
Debtors	6	992,732	999,826
Cash at bank and in hand		1,365	5,316
		---------	------------
		994,097	1,102,334

Creditors: amounts falling due within one year	7	680,994		829,196
		---------		------------
Net current assets			313,103	273,138
			---------	---------
Total assets less current liabilities			374,642	378,417

Creditors: amounts falling due after more than one year	8	58,631	102,631
		---------	---------
Net assets		316,011	275,786
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	315,911	275,686
	---------	---------
Shareholders funds	316,011	275,786
	---------	---------

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 31 December 2024 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 .

International Rubber & Tyre Recycling Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 9 December 2025 , and are signed on behalf of the board by:

S L Arnold

Director

Company registration number: 07890857

International Rubber & Tyre Recycling Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Moorhead Lane, Shipley, West Yorkshire, BD18 4JH.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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	-	20% reducing balance
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	20% reducing balance
Equipment	-	20% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024	36,166	176,564	12,073	63,409	31,936	320,148
Disposals	–	( 67,422)	–	–	–	( 67,422)
	--------	---------	--------	--------	--------	---------
At 31 Dec 2024	36,166	109,142	12,073	63,409	31,936	252,726
	--------	---------	--------	--------	--------	---------
Depreciation
At 1 Jan 2024	–	139,162	12,073	38,601	25,033	214,869
Charge for the year	–	37,399	–	4,961	1,381	43,741
Disposals	–	( 67,423)	–	–	–	( 67,423)
	--------	---------	--------	--------	--------	---------
At 31 Dec 2024	–	109,138	12,073	43,562	26,414	191,187
	--------	---------	--------	--------	--------	---------
Carrying amount
At 31 Dec 2024	36,166	4	–	19,847	5,522	61,539
	--------	---------	--------	--------	--------	---------
At 31 Dec 2023	36,166	37,402	–	24,808	6,903	105,279
	--------	---------	--------	--------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	667,356	740,655
Other debtors	325,376	259,171
	---------	---------
	992,732	999,826
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	77	533
Trade creditors	650,368	795,010
Corporation tax	35,373	13,830
Social security and other taxes	27,814	18,516
Other creditors	( 32,638)	1,307
	---------	---------
	680,994	829,196
	---------	---------

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

	2024	2023
	£	£
Bank loans and overdrafts	58,667	102,667
Amounts owed to group undertakings and undertakings in which the company has a participating interest	( 36)	( 36)
	--------	---------
	58,631	102,631
	--------	---------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
S L Arnold	7,590	–	–	7,590
H M Fell	7,165	2,015	–	9,180
	--------	-------	----	--------
	14,755	2,015	–	16,770
	--------	-------	----	--------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
S L Arnold	6,868	7,590	( 6,868)	7,590
H M Fell	–	7,165	–	7,165
	-------	--------	-------	--------
	6,868	14,755	( 6,868)	14,755
	-------	--------	-------	--------

10. Related party transactions

The company was under the control of its Directors throughout the current and previous year. The Directors hold all the issued share capital. No transactions with related parties were undertaken such as are required to be disclosed under FRS102.