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Registered number: 15436776 SCOT RECYCLING LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 31 DECEMBER 2024
SCOT RECYCLING LTD REGISTERED NUMBER: 15436776 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024
Note |  | £
Current assets |  |  |
Debtors: amounts falling due within one year | 4 | 1,917,829 |
Cash at bank and in hand | 5 | 1,994,448 |
|  | 3,912,277 |
Current liabilities |  |  |
Creditors: amounts falling due within one year | 6 | (2,504,330) |
Net current assets |  |  | 1,407,947
Total assets less current liabilities |  |  | 1,407,947
Net assets |  |  | 1,407,947
Capital and reserves |  |  |
Called up share capital | 7 |  | 100
Profit and loss account | 8 |  | 1,407,847
|  |  | 1,407,947
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 January 2026.
I J Williamson
Director
The notes on pages 3 to 6 form part of these financial statements. Page 1
SCOT RECYCLING LTD STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 DECEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
Comprehensive income for the period |  |  |
Profit for the period | - | 1,407,847 | 1,407,847
Total comprehensive income for the period | - | 1,407,847 | 1,407,847
Contributions by and distributions to owners |  |  |
Shares issued during the period | 100 | - | 100
Total transactions with owners | 100 | - | 100
At 31 December 2024 | 100 | 1,407,847 | 1,407,947
| The notes on pages 3 to 6 form part of these financial statements.
Page 2
SCOT RECYCLING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
1. | General information
The Company is a private Company limited by shares and incorporated in England & Wales. The registered office is PO Box 4385, 15436776 - Companies house default address, Cardiff, CF14 8LH. The Company registration number is 15436776. The Company's principal activity is the operation of material recycling facilities. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.3 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 3
SCOT RECYCLING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.7 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Employees
| The average monthly number of employees, including the director, during the period was as follows:
|  |  | 31 December
|  |  | 2024
|  |  | No.
|  | Employees | 6
4. | Debtors
|  |  |  |  | 2024
|  |  |  |  | £
| Trade debtors | 1,302,070
| Other debtors | 615,759
|  | 1,917,829
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SCOT RECYCLING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
5. | Cash and cash equivalents
|  |  |  |  | 2024
|  |  |  |  | £
| Cash at bank and in hand | 1,994,448
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024
|  |  |  |  | £
| Trade creditors | 2,021,865
| Corporation tax | 469,521
| Other taxation and social security | 11,277
| Other creditors | 1,667
|  | 2,504,330
7. | Share capital
|  |  |  |  | 2024
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 100 Ordinary shares of £1.00 each | 100
On incorporation on 23rd January 2024 the Company issued 100 Ordinary £1 shares in exchange for cash consideration.
8. | Reserves
Profit and loss account Includes current and prior year cumulative distributable retained profits and losses.
9. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £714. Contributions totalling £1,667 were payable to the fund at the balance sheet date and are included in creditors. Page 5
SCOT RECYCLING LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2024
10. | Controlling party
The Company's immediate and ultimate parent Company is Allen Group Limited, a Company incorporated in the Isle of Man. The ultimate controlling party is considered to be Patrick Hughes, by virtue of his ownership of Allen Group Limited.
Page 6