REGISTERED NUMBER: 08087441 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

THE FURNITURE RECYCLING GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N S Oettinger

Mr R A Eaves

Mr S Beaumont

Mr C H C Van Hemert

REGISTERED OFFICE:

Greenbank Works

Gladstone Street

Blackburn

BB1 3ES

REGISTERED NUMBER:

08087441 (England and Wales)

AUDITORS:

Christian Douglass Accountants Limited

Chartered Accountants

Statutory Auditor

2 Jordan Street

Knott Mill

Manchester

M15 4PY

FIXED ASSETS

Intangible assets

4

7,644

9,347

Tangible assets

5

1,887,724

1,837,481

Investments

6

100

100

1,895,468

1,846,928

CURRENT ASSETS

Stocks

19,426

26,205

Debtors

7

2,160,841

2,269,266

Cash at bank and in hand

292,921

277,197

2,473,188

2,572,668

CREDITORS

Amounts falling due within one year

8

1,282,921

2,429,290

NET CURRENT ASSETS

1,190,267

143,378

TOTAL ASSETS LESS CURRENT LIABILITIES

3,085,735

1,990,306

CREDITORS

Amounts falling due after more than one year

9

(236,537

)

(242,402

)

PROVISIONS FOR LIABILITIES

(364,922

)

(98,775

)

NET ASSETS

2,484,276

1,649,129

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,484,176

1,649,029

SHAREHOLDERS' FUNDS

2,484,276

1,649,129

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 2 April 2026 and were signed on its behalf by:

Mr N S Oettinger - Director

1.	STATUTORY INFORMATION

The Furniture Recycling Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08087441 and it is registered at Greenbank Works, Gladstone Street, Blackburn, BB1 3ES.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements and trading performance

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.

Preparation of consolidated financial statements

The financial statements contain information about The Furniture Recycling Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents the amount derived from the provision of goods and services, and is stated after trade discounts, other sales taxes and net of VAT. Sales are recognised when the company considers that it has fulfilled its obligations to the customer which in respect of the sale of goods is on despatch.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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.

Plant and machinery etc

-

25% on cost, 20% on cost, 15% on cost and 10% on cost

Tangible fixed assets are stated at historical invoice cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure directly attributable to bringing the asset to the location and condition necessary for operation by the company.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is determined from purchase invoice cost and reported on a first in first out basis.

Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the cost of realisation and, where appropriate, the cost of conversion from their existing state to a finished condition.

Provision is made where necessary for obsolete, slow-moving and defective stocks.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 121 (2024 - 120 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

33,149

Disposals

(21,230

)

At 31 December 2025

11,919

AMORTISATION

At 1 January 2025

23,802

Charge for year

1,703

Eliminated on disposal

(21,230

)

At 31 December 2025

4,275

NET BOOK VALUE

At 31 December 2025

7,644

At 31 December 2024

9,347

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

2,139,030

Additions

463,768

Disposals

(108,673

)

At 31 December 2025

2,494,125

DEPRECIATION

At 1 January 2025

301,549

Charge for year

307,342

Eliminated on disposal

(2,490

)

At 31 December 2025

606,401

NET BOOK VALUE

At 31 December 2025

1,887,724

At 31 December 2024

1,837,481

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

Plant and

machinery

etc

£

COST

At 1 January 2025

520,802

Additions

147,270

At 31 December 2025

668,072

DEPRECIATION

At 1 January 2025

109,097

Charge for year

72,919

At 31 December 2025

182,016

NET BOOK VALUE

At 31 December 2025

486,056

At 31 December 2024

411,705

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

and 31 December 2025

100

NET BOOK VALUE

At 31 December 2025

100

At 31 December 2024

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

1,247,511

1,335,696

Amounts owed by group undertakings

612,928

461,246

Other debtors

300,402

472,324

2,160,841

2,269,266

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Hire purchase contracts and finance leases (see note 10)

120,178

111,849

Trade creditors

348,358

523,294

Amounts owed to group undertakings

194,150

1,193,505

Taxation and social security

326,426

157,127

Other creditors

293,809

443,515

1,282,921

2,429,290

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

£

£

Hire purchase contracts and finance leases (see note 10)

236,537

242,402

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

31.12.25

31.12.24

31.12.25

31.12.24

£

£

£

£

Net obligations repayable:

Within one year

114,164

106,798

6,014

5,051

Between one and five years

225,606

225,458

10,931

16,944

339,770

332,256

16,945

21,995

Non-cancellable

operating leases

31.12.25

31.12.24

£

£

Within one year

604,676

777,129

Between one and five years

1,938,872

2,030,104

In more than five years

1,521,813

1,971,813

4,065,361

4,779,046

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.25

31.12.24

£

£

Hire purchase contracts and finance leases

356,715

354,251

Obligations under hire purchase and finance lease contracts are secured on the assets concerned.

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs Deborah Burton F.C.A. (Senior Statutory Auditor)

for and on behalf of Christian Douglass Accountants Limited

13.	CAPITAL COMMITMENTS

31.12.25

31.12.24

£

£

Contracted but not provided for in the

financial statements

15,860

-

14.	ULTIMATE PARENT UNDERTAKING

The company's parent undertaking is Brosen Limited. The company's ultimate parent undertaking is RetourMatras Holding B.V. a company registered in The Netherlands. RetourMatras Holding B.V. heads the smallest and largest group, including the company, for which group accounts are drawn up. Copies of the group accounts can be obtained from Goudseweg 181e, 2411 HK, Bodegraven, The Netherlands.