IRIS Accounts Production v25.4.0.155 12853777 Board of Directors 1.7.24 30.6.25 30.6.25 specialises in the recycling of cables, waste electrical and electronic equipment (WEEE), aluminium and copper scrap. false true false false false true false Fair value model Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 12853777 2024-06-30 12853777 2025-06-30 12853777 2024-07-01 2025-06-30 12853777 2023-06-30 12853777 2023-07-01 2024-06-30 12853777 2024-06-30 12853777 ns15:EnglandWales 2024-07-01 2025-06-30 12853777 ns14:PoundSterling 2024-07-01 2025-06-30 12853777 ns10:Director1 2024-07-01 2025-06-30 12853777 ns10:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 12853777 ns10:SmallEntities 2024-07-01 2025-06-30 12853777 ns10:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 12853777 ns10:SmallCompaniesRegimeForDirectorsReport 2024-07-01 2025-06-30 12853777 ns10:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 12853777 ns10:FullAccounts 2024-07-01 2025-06-30 12853777 1 2024-07-01 2025-06-30 12853777 ns10:OrdinaryShareClass1 2024-07-01 2025-06-30 12853777 ns10:Director2 2024-07-01 2025-06-30 12853777 ns10:Director3 2024-07-01 2025-06-30 12853777 ns10:Director4 2024-07-01 2025-06-30 12853777 ns10:RegisteredOffice 2024-07-01 2025-06-30 12853777 ns5:CurrentFinancialInstruments 2025-06-30 12853777 ns5:CurrentFinancialInstruments 2024-06-30 12853777 ns5:ShareCapital 2025-06-30 12853777 ns5:ShareCapital 2024-06-30 12853777 ns5:RetainedEarningsAccumulatedLosses 2025-06-30 12853777 ns5:RetainedEarningsAccumulatedLosses 2024-06-30 12853777 ns5:NetGoodwill 2024-07-01 2025-06-30 12853777 ns5:IntangibleAssetsOtherThanGoodwill 2024-07-01 2025-06-30 12853777 ns5:OwnedAssets 2024-07-01 2025-06-30 12853777 ns5:OwnedAssets 2023-07-01 2024-06-30 12853777 1 2024-07-01 2025-06-30 12853777 1 2023-07-01 2024-06-30 12853777 2 2024-07-01 2025-06-30 12853777 2 2023-07-01 2024-06-30 12853777 ns10:OrdinaryShareClass1 2023-07-01 2024-06-30 12853777 ns5:NetGoodwill 2024-06-30 12853777 ns5:NetGoodwill 2025-06-30 12853777 ns5:NetGoodwill 2024-06-30 12853777 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-06-30 12853777 ns5:PlantMachinery 2024-06-30 12853777 ns5:FurnitureFittings 2024-06-30 12853777 ns5:MotorVehicles 2024-06-30 12853777 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-07-01 2025-06-30 12853777 ns5:PlantMachinery 2024-07-01 2025-06-30 12853777 ns5:FurnitureFittings 2024-07-01 2025-06-30 12853777 ns5:MotorVehicles 2024-07-01 2025-06-30 12853777 ns5:LongLeaseholdAssets ns5:LandBuildings 2025-06-30 12853777 ns5:PlantMachinery 2025-06-30 12853777 ns5:FurnitureFittings 2025-06-30 12853777 ns5:MotorVehicles 2025-06-30 12853777 ns5:LongLeaseholdAssets ns5:LandBuildings 2024-06-30 12853777 ns5:PlantMachinery 2024-06-30 12853777 ns5:FurnitureFittings 2024-06-30 12853777 ns5:MotorVehicles 2024-06-30 12853777 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-06-30 12853777 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-06-30 12853777 ns5:AcceleratedTaxDepreciationDeferredTax 2025-06-30 12853777 ns5:AcceleratedTaxDepreciationDeferredTax 2024-06-30 12853777 ns5:DeferredTaxation 2024-06-30 12853777 ns5:DeferredTaxation 2024-07-01 2025-06-30 12853777 ns5:DeferredTaxation 2025-06-30 12853777 ns10:OrdinaryShareClass1 2025-06-30

REGISTERED NUMBER: 12853777 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

FOR

REMET PROCESSING LTD

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page |

Company Information | 1 |

Report of the Directors | 2 |

Income Statement | 3 |

Balance Sheet | 4 |

Notes to the Financial Statements | 6 |

REMET PROCESSING LTD

COMPANY INFORMATION

FOR THE YEAR ENDED 30 JUNE 2025

| DIRECTORS: | S Cohen

| W Reid

| P Reid

| J R Hughes

| REGISTERED OFFICE: | Remet Works

| 9a Cody Business Centre

| South Crescent

| London

| E16 4TL

| REGISTERED NUMBER: | 12853777 (England and Wales)

| ACCOUNTANTS: | MGR Paris Limited

| Chartered Accountants

| 55 Loudoun Road

| St John's Wood

| London

| NW8 0DL

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 JUNE 2025

The directors present their report with the financial statements of the company for the year ended 30 June 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2024 to the date of this report.

S Cohen

W Reid

P Reid

J R Hughes

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

P Reid - Director

16 January 2026

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

INCOME STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

TURNOVER | 88,830 |  | 14,521,521 |  |

Cost of sales | (32,173 | ) | (13,834,613 | ) |

GROSS PROFIT | 56,657 |  | 686,908 |  |

Administrative expenses | (941,592 | ) | (831,730 | ) |

(884,935 | ) | (144,822 | ) |

Other operating income | 1,900,575 |  | 645,041 |  |

OPERATING PROFIT | 4 | 1,015,640 |  | 500,219 |  |

Interest receivable and similar income | - |  | 410 |  |

1,015,640 |  | 500,629 |  |

Interest payable and similar expenses | 5 | (124,875 | ) | (137,875 | ) |

PROFIT BEFORE TAXATION | 890,765 |  | 362,754 |  |

Tax on profit | 6 | (5,508 | ) | (341,836 | ) |

PROFIT FOR THE FINANCIAL YEAR | 885,257 |  | 20,918 |  |

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

BALANCE SHEET

30 JUNE 2025

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 8 | - |  | 8 |  |

Tangible assets | 9 | 789,835 |  | 1,474,556 |  |

Investment property | 10 | 2,500,000 |  | 2,500,000 |  |

3,289,835 |  | 3,974,564 |  |

CURRENT ASSETS

Debtors | 11 | 267,397 |  | 376,960 |  |

Cash at bank and in hand | 72,994 |  | 141,066 |  |

340,391 |  | 518,026 |  |

CREDITORS

Amounts falling due within one year | 12 | (1,630,761 | ) | (3,311,722 | ) |

NET CURRENT LIABILITIES | (1,290,370 | ) | (2,793,696 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,999,465 |  | 1,180,868 |  |

PROVISIONS FOR LIABILITIES | 14 | (361,997 | ) | (385,032 | ) |

NET ASSETS | 1,637,468 |  | 795,836 |  |

CAPITAL AND RESERVES

Called up share capital | 15 | 1,000 |  | 1,000 |  |

Retained earnings | 1,636,468 |  | 794,836 |  |

SHAREHOLDERS' FUNDS | 1,637,468 |  | 795,836 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

BALANCE SHEET - continued

30 JUNE 2025

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

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2026 and were signed on its behalf by:

P Reid - Director

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1. | STATUTORY INFORMATION

| Remet Processing 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 company has ceased trading on 19 May 2024 and the financial statements have been prepared on a basis other than the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. Non current liabilities have been recognised as current liabilities to reflect the closure of the business. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is not being amortised.

| 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.

| Plant and machinery - 30% reducing balance

| Office equipment - 30% reducing balance

| Motor vehicles - 30% reducing balance

| Freehold Property - 2% straight line

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| 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.

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Monetary amounts

| The financial statement are prepared in sterling, which is the functional currency of the company. Monetary amounts in the financial statements are rounded to the nearest pound.

| Interest Payable

| Interest payable is charged to the profit and loss account on an accruals basis.

| Basic financial assets

| Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

| Other financial assets

| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and where material the changes in fair value are recognised in the Statement of Total Comprehensive Income, except that investments in equity instruments that are not publicly traded and whose fair value cannot be measured reliably are measured at cost less impairment

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the life of the debt instrument to the net carrying amount on initial recognition

| Impairment of financial assets

| Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive Income

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity

| Basic financial liabilities

| Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest .

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method.

| Cash and cash equivalents

| Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. | EMPLOYEES AND DIRECTORS

| 30.6.25 |  | 30.6.24

£ | £ |

| Wages and salaries | 253,562 |  | 1,060,999 |  |

| Social security costs | 32,395 |  | 85,282 |  |

| Other pension costs | 4,748 |  | 39,427 |  |

290,705 |  | 1,185,708 |  |

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

3. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees during the year was as follows:

| 30.6.25 |  | 30.6.24

| Management | 1 |  | 1 |  |

| Admin | 2 |  | 6 |  |

| Production | - |  | 16 |  |

3 |  | 23 |  |

| 30.6.25 |  | 30.6.24

£ | £ |

| Directors' remuneration | 122,690 |  | 122,220 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | - |  | 1 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 30.6.25 |  | 30.6.24

£ | £ |

| Depreciation - owned assets | 8,300 |  | 301,539 |  |

| Profit on disposal of fixed assets | (1,224,368 | ) | (59,553 | ) |

| Auditors' remuneration | - |  | 18,000 |  |

| Foreign exchange differences | - |  | 2 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 30.6.25 |  | 30.6.24

£ | £ |

| Interest Paid | 124,875 |  | 137,648 |  |

| Interest on tax | - |  | 227 |  |

124,875 |  | 137,875 |  |

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

6. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 30.6.25 |  | 30.6.24

£ | £ |

| Current tax:

| UK corporation tax | 28,543 |  | - |  |

| Deferred tax | (23,035 | ) | 341,836 |  |

| Tax on profit | 5,508 |  | 341,836 |  |

| UK corporation tax has been charged at 25% .

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 30.6.25 |  | 30.6.24

£ | £ |

| Profit before tax | 890,765 |  | 362,754 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 222,691 |  | 90,689 |  |

| Effects of:

| Expenses not deductible for tax purposes | 2 |  | - |  |

| Income not taxable for tax purposes | (742,692 | ) | (718,245 | ) |

| Depreciation in excess of capital allowances | 2,075 |  | 43,658 |  |

| Utilisation of tax losses | 217,338 |  | 583,898 |  |

| Deferred tax provision | (23,035 | ) | 341,836 |  |

| Balancing charge | 329,129 |  | - |  |

| Total tax charge | 5,508 |  | 341,836 |  |

7. | DIVIDENDS

| 30.6.25 |  | 30.6.24

£ | £ |

| Ordinary shares of £1 each

| Final | 43,625 |  | - |  |

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

8. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 July 2024 | 8 |  |

| Disposals | (8 | ) |

| At 30 June 2025 | - |  |

| NET BOOK VALUE

| At 30 June 2025 | - |  |

| At 30 June 2024 | 8 |  |

9. | TANGIBLE FIXED ASSETS

| Fixtures |

| Long |  | Plant and |  | and |  | Motor |

| leasehold |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 July 2024 | 829,950 |  | 1,970,465 |  | 37,103 |  | 31,499 |  | 2,869,017 |  |

| Disposals | - |  | (1,970,465 | ) | (37,103 | ) | (31,499 | ) | (2,039,067 | ) |

| At 30 June 2025 | 829,950 |  | - |  | - |  | - |  | 829,950 |  |

| DEPRECIATION

| At 1 July 2024 | 31,815 |  | 1,316,734 |  | 24,670 |  | 21,242 |  | 1,394,461 |  |

| Charge for year | 8,300 |  | - |  | - |  | - |  | 8,300 |  |

| Eliminated on disposal | - |  | (1,316,734 | ) | (24,670 | ) | (21,242 | ) | (1,362,646 | ) |

| At 30 June 2025 | 40,115 |  | - |  | - |  | - |  | 40,115 |  |

| NET BOOK VALUE

| At 30 June 2025 | 789,835 |  | - |  | - |  | - |  | 789,835 |  |

| At 30 June 2024 | 798,135 |  | 653,731 |  | 12,433 |  | 10,257 |  | 1,474,556 |  |

10. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 July 2024

| and 30 June 2025 | 2,500,000 |  |

| NET BOOK VALUE

| At 30 June 2025 | 2,500,000 |  |

| At 30 June 2024 | 2,500,000 |  |

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.6.25 |  | 30.6.24

£ | £ |

| Trade debtors | 85,612 |  | 166,882 |  |

| Other debtors | 181,785 |  | 210,078 |  |

267,397 |  | 376,960 |  |

12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.6.25 |  | 30.6.24

£ | £ |

| Trade creditors | 161,511 |  | 995,986 |  |

| Taxation and social security | 145,879 |  | 163,597 |  |

| Other creditors | 1,323,371 |  | 2,152,139 |  |

1,630,761 |  | 3,311,722 |  |

13. | FINANCIAL INSTRUMENTS

| Carrying amount of financial assets

|  | 2025 |  |  | 2024 |  |

| £ |  |  | £ |  |

| Debt instruments measured at amortised cost |  | 85,612 |  |  | 206,513 |  |

| Carrying amount of financial liabilities

|  | 2025 |  |  | 2024 |  |

| £ |  |  | £ |  |

| Measured at amortised cost |  | 1,544,883 |  |  | 3,148,125 |  |

14. | PROVISIONS FOR LIABILITIES

| 30.6.25 |  | 30.6.24

£ | £ |

| Deferred tax

| Accelerated capital allowances | - |  | 23,034 |  |

| Deferred tax | 361,997 |  | 361,998 |  |

361,997 |  | 385,032 |  |

| Deferred |

| tax |

£ |

| Balance at 1 July 2024 | 385,032 |  |

| Credit to Income Statement during year | (23,035 | ) |

| Balance at 30 June 2025 | 361,997 |  |

REMET PROCESSING LTD (REGISTERED NUMBER: 12853777)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

15. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.6.25 |  | 30.6.24

| value: | £ | £ |

| 1,000 | Ordinary | £1 | 1,000 |  | 1,000 |  |

16. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The amount due from J R Hughes at the beginning of the year was £Nil (2024: £9,221). During the year, £9,221 was repaid and the loan amount has been repaid at the end of the year.

17. | RELATED PARTY DISCLOSURES

| The Remet Company advanced the sum of £6,771,910 at an annual interest rate of 7% over the base rate. At the period end the amount outstanding was £1,255,098 (2024: £1,943,000).

| P Reid is a significant shareholder and director of the above company.

| Interest paid during the period was £124,875 (2024: £137,648).