Gateway Recycling Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

1. General Information

Gateway Recycling Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10174591 . The registered office is Grove House, 55 Lowlands Road, Harrow, Middlesex, HA1 3AW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The accounts are prepared on a going concern basis notwithstanding the fact that the company balance sheet has a negative equity. As at balance sheet date the company had net liablities of £181,161 which includes an intercompany balance of £717,373 due to its group undertakings ,Ardour World (UK) and Global Commodities. Subsequent to the balance sheet date, the director have considered liquid resources of the company.The group undertakings has confrimed that they will not seek repayment of the intercompany balance until such time as the company is able to repay its liabilities without compromising its ability to continue to trade and to meet its liabilities as they fall due.On this basis, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.4. Stocks and Work in Progress

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

2.5. Foreign Currencies

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

2.6. Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 3)

4. Stocks

	2025	2024
	£	£
Work in progress	243,130	178,762

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Page 3

Gateway Recycling Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	902,941	946,721
Other debtors	194,810	383,608

	1,097,751	1,330,329

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,127,430	1,671,698
Amounts owed to participating interests	717,373	-
Other creditors	170,726	295,014
Taxation and social security	-	36,362

	2,015,529	2,003,074

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

8. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	-	281,126

9. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10. Presentation currency

The financial statements are presented in Sterling.

11. Audit Information

The auditor's report on the accounts of Gateway Recycling Limited for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by Mr Opinder Singh Sawhney (Senior Statutory Auditor) for and on behalf of Sawhney Consulting Limited , Statutory Auditor.

Sawhney Consulting Limited

Harrow Business Centre

429-433 Pinner Road

Harrow

HA1 4HN

Page 3

		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Stocks	4	243,130		178,762
Debtors	5	1,097,751		1,330,329
Cash at bank and in hand		493,486		57,496

		1,834,367		1,566,587
Creditors: Amounts Falling Due Within One Year	6	(2,015,529 )		(2,003,074 )

NET CURRENT ASSETS (LIABILITIES)			(181,162 )		(436,487 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(181,162 )		(436,487 )

NET LIABILITIES			(181,162 )		(436,487 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Other reserves			-		35,938
Profit and Loss Account			(181,262 )		(472,525 )

SHAREHOLDERS' FUNDS			(181,162)		(436,487)