REGISTERED NUMBER: 11268005 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2024

for

UK Waste Recycling Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J G Widdowson

REGISTERED OFFICE:

Hovefields Avenue

Basildon

Essex

SS13 1EB

REGISTERED NUMBER:

11268005 (England and Wales)

ACCOUNTANTS:

Gravita Essex Limited

Chartered Certified Accountants

Treviot House

186-192 High Road

Ilford

Essex

IG1 1LR

FIXED ASSETS

Tangible assets

4

-

302,367

CURRENT ASSETS

Debtors

5

100

76

Cash at bank and in hand

-

2,031

100

2,107

CREDITORS

Amounts falling due within one year

6

-

(663,693

)

NET CURRENT ASSETS/(LIABILITIES)

100

(661,586

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100

(359,219

)

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

7

389,767

-

Retained earnings

7

(389,767

)

(359,319

)

100

(359,219

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 24 December 2025 and were signed by:

J G Widdowson - Director

1.	STATUTORY INFORMATION

UK Waste Recycling Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance

Taxation

Taxation for the year comprises current 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 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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2023

400,542

Disposals

(400,542

)

At 30 September 2024

-

DEPRECIATION

At 1 October 2023

98,175

Charge for year

30,237

Eliminated on disposal

(128,412

)

At 30 September 2024

-

NET BOOK VALUE

At 30 September 2024

-

At 30 September 2023

302,367

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Amounts owed by group undertakings

100

-

Other debtors

-

76

100

76

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as restated

£

£

Trade creditors

-

663,693

7.

RESERVES

On 1 April 2024 the Company was hived-up to its parent. The parent company relieved the net liabilities arising on the transfer, which has been treated as a capital contribution. This transaction has been recognised directly in equity with no impact on the profit and loss account.

8.	PRIOR YEAR ADJUSTMENT

During the current financial year, the director undertook a comprehensive review of the Company’s accounting records and the financial statements previously filed for the year ended 30 September 2023. This review identified that the prior year financial statements did not accurately reflect the underlying accounting records and contained several material misstatements.

In accordance with FRS 102 Section 1A and Section 10 Accounting Policies, Estimates and Errors, the comparative figures have been restated to correct these errors. The principal adjustments are summarised below:

Inventories: Amounts recognised as 'Work in progress' and 'Finished goods' did not represent genuine assets of the Company and have been removed.

Trade debtors: Balances were not recoverable and should have been written off as bad debts. These amounts have now been removed.

Accrued income: Amounts had been recognised as income receivable without supporting transactions or evidence of entitlement. These balances have been removed.

Other debtors: Amounts recognised as current assets, including VAT and director’s loan account balances, did not represent genuine assets of the Company and have been removed.

Accrued costs: Liabilities had been recognised for costs that had not been incurred and for which no present obligation existed. These balances have been removed.

Other creditors: Amounts previously recognised as current liabilities did not relate to genuine obligations of the Company and have been removed.

Impact of the Prior Year Adjustments

As previously reported

Adjustment

As restated

£

£

£

Trade debtors

49,692

(49,692

)

-

Accrued income

207,641

(207,641

)

-

Other debtors

134,000

(134,000

)

-

VAT

3,778

(3,702

)

75.61

Other creditors

2,125

(2,125

)

-

Directors loan account

296

(296

)

-

Accruals

(2,000

)

2,000

-

Work in progress

35,000

(35,000

)

-

Finished goods

102,125

(102,125

)

-

Retained earnings

173,362

(532,581

)

(359,219

)

The prior-year adjustment had no impact on the corporation tax charge. The company reported trading losses in both the current and comparative periods, meaning the correction did not change taxable profit.