REGISTERED NUMBER: 07741368 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PAUL RICHARDSON RECYCLING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms T Bailey

D C Richardson

SECRETARY:

Ms T Bailey

REGISTERED OFFICE:

8 Long Pastures

Glemsford

Sudbury

Suffolk

CO10 7SS

REGISTERED NUMBER:

07741368 (England and Wales)

ACCOUNTANT:

JDS Accounting

& Tax Services Ltd

8 Long Pastures

Glemsford

Sudbury

Suffolk

CO10 7SS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

374,187

270,395

374,187

270,395

CURRENT ASSETS

Stocks

79,078

41,297

Debtors

6

261,601

195,846

Prepayments and accrued income

11,959

20,182

Cash at bank

600,539

827,530

953,177

1,084,855

CREDITORS

Amounts falling due within one year

7

387,287

474,627

NET CURRENT ASSETS

565,890

610,228

TOTAL ASSETS LESS CURRENT LIABILITIES

940,077

880,623

CREDITORS

Amounts falling due after more than one year

8

(17,233

)

(45,837

)

PROVISIONS FOR LIABILITIES

(175,482

)

(111,896

)

ACCRUALS AND DEFERRED INCOME

(18,029

)

(20,209

)

NET ASSETS

729,333

702,681

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

728,333

701,681

SHAREHOLDERS' FUNDS

729,333

702,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2025 and were signed on its behalf by:

Ms T Bailey - Director

1.	STATUTORY INFORMATION

Paul Richardson Recycling Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Going concern

The company is dependant on the continued financial support of other group member companies, to meet its day to day working capital requirements. Due to this support the company is able to operate within its banking facilities and therefore consider that the going concern basis for the preparation of the financial statements is appropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods and aggregates is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the provision of tipping facilities are recognised when each load is delivered on site.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Rents receivable

Rents receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of three years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

Straight line over 10 years

Plant and machinery etc

-

25% on Reducing balance and Straight line over 1 to 5 years

Stocks

Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at

each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. Deferred assets are recognised only to the extent that it is probable they will be offset against future obligations and the amount can be reliably estimated.

Restoration costs for reinstatement of the short leasehold property are provided for evenly over the term of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

165,000

AMORTISATION

At 1 April 2024

and 31 March 2025

165,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

28,575

968,507

997,082

Additions

-

194,800

194,800

Disposals

-

(39,550

)

(39,550

)

At 31 March 2025

28,575

1,123,757

1,152,332

DEPRECIATION

At 1 April 2024

21,460

705,227

726,687

Charge for year

1,779

89,229

91,008

Eliminated on disposal

-

(39,550

)

(39,550

)

At 31 March 2025

23,239

754,906

778,145

NET BOOK VALUE

At 31 March 2025

5,336

368,851

374,187

At 31 March 2024

7,115

263,280

270,395

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

132,000

DEPRECIATION

At 1 April 2024

46,110

Charge for year

19,080

At 31 March 2025

65,190

NET BOOK VALUE

At 31 March 2025

66,810

At 31 March 2024

85,890

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

257,209

194,846

Other debtors

4,392

1,000

261,601

195,846

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts (see note 9)

28,596

27,426

Trade creditors

95,357

91,308

Amounts owed to group undertakings

255,044

255,044

Taxation and social security

6,629

99,168

Other creditors

1,661

1,681

387,287

474,627

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts (see note 9)

17,233

45,837

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.3.25

31.3.24

£

£

Net obligations repayable:

Within one year

28,596

27,426

Between one and five years

17,233

45,837

45,829

73,263

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

45,829

73,263

Hire purchase liabilities are secured on the assets they are financing.

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1,000

Share capital

£1

1,000

1,000

12.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme, the assets of which are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £1,661 (2024 £1,681) were due to the fund, which are included within the balance for other creditors.

13.	RELATED PARTY DISCLOSURES

During the period the company re-charged, at cost, £645 (2024 £Nil), to another group company the cost of goods and services which had been incurred on its behalf. In addition, goods and services were also under sold under normal market conditions. As at the year end the amount owed by that group company was £39,805 (2024 28,933).

During the period the company was re-charged, at cost, £136,704 (2024 £330,945), by another group company for the cost of goods and services which had been incurred on its behalf. In addition, goods and services were also purchased under normal market conditions. As at the year end the amount owed to that group company was £18,067 (2024 19,609).

During the previous year another group company surrendered Corporation Tax losses of £15,824 to the company. As at the year end the company owed a group company £255,044 (2024 £255,044) in respect of an unsecured working capital loan which was provided on an interest free basis and for which no repayment terms have been agreed.

The ultimate parent company is Richardson Haulage Group Limited, who's Registered Office address is, 8 Long Pastures, Glemsford, Sudbury, Suffolk, CO10 7SS.