West Sussex Britaniacrest Seneca Partner - Limited company accounts 25.1

REGISTERED NUMBER: 11022584 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

WEST SUSSEX BRITANIACREST SENECA

PARTNERSHIP LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Statement of Cash Flows

12

Notes to the Statement of Cash Flows

13

Notes to the Financial Statements

14

DIRECTORS:

J A Carey

K E Doran

G A Beelaerts V Blokland

J A Nuessle

REGISTERED OFFICE:

1 Hand Axe Yard

277a Gray's Inn Road

London

WC1X 8BD

REGISTERED NUMBER:

11022584 (England and Wales)

AUDITORS:

Vista Audit LLP

Chartered Accountants

Statutory Auditor

Chancery House

3 Hatchlands Road

Redhill

Surrey

RH1 6AA

The directors present their strategic report for the year ended 31 October 2025.

REVIEW OF BUSINESS

The company has currently a long-term contract with a Local Authority for the provision of collection and transportation services for refuse derived fuel and loose waste. During the year the customer experienced increased demand for waste disposal resulting in an increase in turnover of 76% for the company.

FINANCIAL KEY PERFORMANCE INDICATORS

The company's key financial and other performance indicators during the year were as follows:

2025

2024

Turnover

£26.3m

£15m

Gross profit

£1.5m

£0.85m

Profit after tax

£0.95m

£0.13m

Total tonnage delivered

179,964 tonnes

107,842 tonnes

Debtor days

80 days

124 days

Gross profit margin has been maintained at 5.9% but net profit margin increased to 3.6% due to a reduction in administrative expenses.

PRINCIPAL RISKS AND UNCERTAINTIES

There are a number of potential risks and uncertainties which could have a material impact on the company's performance and which could cause actual results to differ materially from expected and historical results.

Financial risk management

The company's financial risk management is coordinated by the Board of Directors and focuses on actively securing the company's short to medium cash flows by minimizing the exposure to the following risks:

Credit & Cashflow Risk

The company's principle financial assets are bank balances and trade receivables. The company's credit risk is primarily attributable to its trade receivables.

The company has a long-term contract with one major customer requiring the provision of repeat monthly services. These services are provided primarily by one supplier who is also a shareholder of the company. The company raises one monthly invoice to the client and manages the timing of payments to the supplier subject to the receipt of payment from the customer.

The company is therefore able to mitigate its cashflow risk by having robust credit control and cash management policies and procedures in place.

Liquidity risk

The company actively manages the bank balance on a daily basis to ensure that it has sufficient available funds for operation. The trade creditor liquidity risk is also managed by ensuring that funds are collected from the customer so that sufficient funds are available to meet the amounts payable.

ON BEHALF OF THE BOARD:

K E Doran - Director

29 April 2026

The directors present their report with the financial statements of the company for the year ended 31 October 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of collection and transportation services for refuse derived fuel and loose waste to its place of treatment and disposal.

DIVIDENDS

Dividends totalling £500,000 (2024: £nil) were declared and paid on 4 June 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 31 October 2025 will be £500,000.

FUTURE DEVELOPMENTS

The company is 18 months into a long-term service contract for a County Council. The company will continue to service this contract and respond accordingly to any future increases in demand for its services.

DIRECTORS

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

J A Carey

K E Doran

G A Beelaerts V Blokland

Other changes in directors holding office are as follows:

L Valaize - resigned 20 June 2025

A P J Lambolez - appointed 3 July 2025

J A Nuessle was appointed as a director after 31 October 2025 but prior to the date of this report.

A P J Lambolez ceased to be a director after 31 October 2025 but prior to the date of this report.

GOING CONCERN

The Board of Directors is required to consider the company's ability to continue as a going concern over a period of at least 12 months from the date of approval of the financial statements. In making this assessment the Directors have considered the Group's ability to continue as a going concern.

The company continues to meet its day-to-day working capital requirements. At the reporting date the company had net assets of £1.9m.

The Board of Directors has reviewed the company's forecasts for a period of 12 months from the approval of the financial statements. The forecasts have been prepared using key assumptions primarily in relation to the volume of waste to be processed.

The Board of Directors has also considered the macroeconomic and political risks affecting the UK economy. The Board of Directors noted that the company's forecasts are underpinned by a significant proportion of revenue that is guaranteed by a local authority and that the sector in which the company operates is considered to remain largely unaffected by macroeconomic factors.

As a result, the Board of Directors is satisfied that the company has sufficient financial resources to continue to operate for a period of at least 12 months from the signing of the financial statements and therefore it continues to adopt the going concern basis in preparing the company's annual financial statements.

DISCLOSURE IN THE STRATEGIC REPORT

Information on financial exposure and risk management is disclosed within the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Vista Audit LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

K E Doran - Director

29 April 2026

Opinion

We have audited the financial statements of West Sussex Britaniacrest Seneca Partnership Limited (the 'company') for the year ended 31 October 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 October 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit:

-

in respect of fraud, are to identify and assess the risks of material misstatement of the financial statements due to
fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to
fraud, through designing and implementing appropriate responses; and to respond appropriately to fraud or
suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection
of fraud rests with both those charged with governance of the entity and management; and

-

in respect of irregularities, considered to be non-compliance with laws and regulations, are to obtain sufficient
appropriate audit evidence regarding compliance with the provisions of those laws and regulations generally
recognised to have a direct effect on the determination of material amounts and disclosures in the financial
statements, and perform other audit procedures to help identify instances of non-compliance with other laws and
regulations that may have a material effect on the financial statements. We are not responsible for preventing
non-compliance with laws and regulations and our audit procedures cannot be expected to detect non-compliance
with all laws and regulations.

Our approach was as follows:

-

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company through
discussions with management and from our commercial knowledge and previous experience of the specific
business sector. We determined that the most significant frameworks which are directly relevant to specific
assertions in the financial statements are those that relate to the reporting framework, the relevant tax compliance
regulations in the UK, data protection, anti bribery, employment, The Environmental Protection Act 1990, EU
waste shipment regulations, environmental and health and safety legislation.

-

We obtained a general understanding of how the company complies with these legal and regulatory frameworks
by making enquiries of management and those responsible for legal and compliance matters. We also reviewed
minutes of the Board and gained an understanding of the company's approach to governance.

There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. The primary responsibility for the prevention and detection of fraud rests with those charged with governance of the company and management. We are not responsible for preventing non-compliance with laws and regulations and our audit procedures cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Susan Jones (Senior Statutory Auditor)

for and on behalf of Vista Audit LLP

Chartered Accountants

Statutory Auditor

Chancery House

3 Hatchlands Road

Redhill

Surrey

RH1 6AA

29 April 2026

TURNOVER

26,382,133

15,012,972

Cost of sales

24,817,538

14,156,554

GROSS PROFIT

1,564,595

856,418

Administrative expenses

298,155

687,297

OPERATING PROFIT

5

1,266,440

169,121

Interest receivable and similar income

44

90

PROFIT BEFORE TAXATION

1,266,484

169,211

Tax on profit

6

316,978

41,091

PROFIT FOR THE FINANCIAL YEAR

949,506

128,120

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

949,506

128,120

CURRENT ASSETS

Debtors

8

5,808,349

5,148,297

Cash at bank and in hand

2,080,481

1,875,148

7,888,830

7,023,445

CREDITORS

Amounts falling due within one year

9

5,911,761

5,495,882

NET CURRENT ASSETS

1,977,069

1,527,563

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,977,069

1,527,563

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

11

1,976,969

1,527,463

SHAREHOLDERS' FUNDS

1,977,069

1,527,563

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2026 and were signed on its behalf by:

K E Doran - Director

G A Beelaerts V Blokland - Director

Called up

share

Retained

Total

capital

earnings

equity

£

Balance at 1 November 2023

100

1,399,343

1,399,443

Changes in equity

Total comprehensive income

-

128,120

Balance at 31 October 2024

100

1,527,463

1,527,563

Changes in equity

Dividends

-

(500,000

)

(500,000

)

Total comprehensive income

-

949,506

Balance at 31 October 2025

100

1,976,969

1,977,069

Cash flows from operating activities

Cash generated from operations

1

746,334

542,013

Tax paid

(41,001

)

(80,240

)

Net cash from operating activities

705,333

461,773

Cash flows from financing activities

Equity dividends paid

(500,000

)

-

Net cash from financing activities

(500,000

)

-

Increase in cash and cash equivalents

205,333

461,773

Cash and cash equivalents at beginning of
year

2

1,875,148

1,413,375

Cash and cash equivalents at end of year

2

2,080,481

1,875,148

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

Profit before taxation

1,266,484

169,211

Finance income

(44

)

(90

)

1,266,440

169,121

Increase in trade and other debtors

(660,052

)

(2,933,585

)

Increase in trade and other creditors

139,946

3,306,477

Cash generated from operations

746,334

542,013

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 October 2025

31/10/25

1/11/24

£

Cash and cash equivalents

2,080,481

1,875,148

Year ended 31 October 2024

31/10/24

1/11/23

£

Cash and cash equivalents

1,875,148

1,413,375

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/11/24

Cash flow

At 31/10/25

£

Net cash

Cash at bank and in hand

1,875,148

205,333

2,080,481

1,875,148

205,333

2,080,481

Total

1,875,148

205,333

2,080,481

1.	STATUTORY INFORMATION

West Sussex Britaniacrest Seneca Partnership 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.

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

All amounts in the financial statements have been rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The directors have considered the company's operating financial requirements for the forthcoming year and expect that the company will have sufficient cash reserves to meet those requirements and as a result they have prepared the accounts on the going concern basis.

Significant judgements and estimates

In the application of the company's accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or the period of the revision and future periods where the revision affects both current and future periods.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit and loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Turnover

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

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade debtors, cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost. An adjustment of the carrying amount of the assets is made when there is objective evidence that the company will not be able to collect all amounts due. The impairment loss is included in the Statement of Comprehensive Income.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is included in the Statement of Comprehensive Income.

Basic financial liabilities

Basic financial liabilities, including trade creditors and accrued expenses, are initially recognised at transaction price and are subsequently recognised at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

4.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 October 2025 nor for the year ended 31 October 2024.

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

There were no directors' remuneration and directors' pension contributions to money purchase schemes for the year ended 31 October 2025 nor for the year ended 31 October 2024.

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

Auditors' remuneration

15,000

11,195

6.

TAXATION

Analysis of the tax charge

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

2025

2024

£

Current tax:

UK corporation tax

316,978

41,091

Tax on profit

316,978

41,091

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

Profit before tax

1,266,484

169,211

Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2024 - 25%)

316,621

42,303

Effects of:

Expenses not deductible for tax purposes

357

-

Marginal relief

-

(1,212

)

Total tax charge

316,978

41,091

7.

DIVIDENDS

2025

2024

£

Ordinary shares of £1 each

Interim

500,000

-

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

5,791,564

5,097,870

VAT

-

33,642

Prepayments

16,785

5,808,349

5,148,297

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

5,501,484

5,435,379

Tax

316,934

41,001

VAT

69,593

-

Accrued expenses

23,750

19,502

5,911,761

5,495,882

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

£1

100

The shares rank equally for voting purposes, for any distribution on a winding-up and entitlement to dividends.

11.

RESERVES

Retained

earnings

£

At 1 November 2024

1,527,463

Profit for the year

949,506

Dividends

(500,000

)

At 31 October 2025

1,976,969

12.	RELATED PARTY DISCLOSURES

During the year the company was charged £24,960,245 (2024: £14,741,081) by its shareholder, Seneca Environmental Solutions Limited. At the balance sheet date the company owed £5,480,625 (2024: £5,416,708) to Seneca Environmental Solutions Limited.

During the year the company was charged £94,838 (2024: £56,326) by its shareholder, Britaniacrest Recycling Limited. At the balance sheet date the company owed £20,859 (2024: £18,672) to Britaniacrest Recycling Limited.