REGISTERED NUMBER: 11563824 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2026

for

International Metals and Cable Recycling

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A P M Bird

A N Bird

D A Piper

REGISTERED OFFICE:

Euston House

12 Euston Place

Leamington Spa

CV32 4BN

REGISTERED NUMBER:

11563824 (England and Wales)

ACCOUNTANTS:

Leigh Christou Ltd

Chartered Certified Accountants

Leofric House

Binley Road

Coventry

CV3 1JN

FIXED ASSETS

Intangible assets

4

99,498

127,524

Tangible assets

5

957,293

1,056,448

1,056,791

1,183,972

CURRENT ASSETS

Stocks

2,381,085

1,945,574

Debtors

6

1,147,909

580,135

Cash at bank

1,076,679

467

4,605,673

2,526,176

CREDITORS

Amounts falling due within one year

7

4,004,383

2,009,582

NET CURRENT ASSETS

601,290

516,594

TOTAL ASSETS LESS CURRENT LIABILITIES

1,658,081

1,700,566

CREDITORS

Amounts falling due after more than one year

8

(405,953

)

(668,481

)

PROVISIONS FOR LIABILITIES

(227,344

)

(216,416

)

NET ASSETS

1,024,784

815,669

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,024,684

815,569

1,024,784

815,669

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2026 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2026 and were signed on its behalf by:

D A Piper - Director

A N Bird - Director

1.	STATUTORY INFORMATION

International Metals and Cable Recycling 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 (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Turnover

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

Intangible assets

Development costs are amortised to the profit and loss account over their estimated useful economic life.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 16 (2025 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 March 2025

212,683

Additions

5,000

At 28 February 2026

217,683

AMORTISATION

At 1 March 2025

85,159

Amortisation for year

33,026

At 28 February 2026

118,185

NET BOOK VALUE

At 28 February 2026

99,498

At 28 February 2025

127,524

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 March 2025

1,678,684

22,511

55,750

4,692

1,761,637

Additions

146,749

12,000

25,252

4,197

188,198

Disposals

(8,000

)

-

-

-

(8,000

)

At 28 February 2026

1,817,433

34,511

81,002

8,889

1,941,835

DEPRECIATION

At 1 March 2025

669,164

12,920

21,411

1,694

705,189

Charge for year

260,389

4,731

12,794

1,439

279,353

At 28 February 2026

929,553

17,651

34,205

3,133

984,542

NET BOOK VALUE

At 28 February 2026

887,880

16,860

46,797

5,756

957,293

At 28 February 2025

1,009,520

9,591

34,339

2,998

1,056,448

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 March 2025

1,388,993

55,750

1,444,743

Additions

56,500

25,252

81,752

At 28 February 2026

1,445,493

81,002

1,526,495

DEPRECIATION

At 1 March 2025

527,530

21,411

548,941

Charge for year

220,220

12,794

233,014

At 28 February 2026

747,750

34,205

781,955

NET BOOK VALUE

At 28 February 2026

697,743

46,797

744,540

At 28 February 2025

861,463

34,339

895,802

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Trade debtors

657,095

242,607

Other debtors

490,814

337,528

1,147,909

580,135

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

28.2.25

£

£

Bank loans and overdrafts

5,000

54,236

Hire purchase contracts

321,330

298,753

Trade creditors

3,440,419

1,477,939

Taxation and social security

23,338

10,032

Other creditors

214,296

168,622

4,004,383

2,009,582

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.26

28.2.25

£

£

Bank loans

-

9,500

Hire purchase contracts

305,953

558,981

Other creditors

100,000

100,000

405,953

668,481

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.26

28.2.25

£

£

Bank loans

5,000

29,500

Hire purchase contracts

627,283

857,734

632,283

887,234

The hire purchase obligations totalling £627,283 (2025: £857,734) are secured against the assets to which they relate.

The bank loan is secured by way of a fixed and floating charge over the assets and undertaking of the company in favour of National Westminster Bank Plc, supported by a negative pledge.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2026 and 28 February 2025:

28.2.26

28.2.25

£

£

A N Bird

Balance outstanding at start of year

10,000

-

Amounts advanced

10,570

10,000

Amounts repaid

(37,500

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(16,930

)

10,000

D A Piper

Balance outstanding at start of year

63,033

46,269

Amounts advanced

84,800

116,764

Amounts repaid

(100,500

)

(100,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

47,333

63,033

The above amount owed to the company by the director: D A Piper, is charges at the HMRC official rate of interest, and is repaid in full following the balance sheet date.

The above amount owed to the director: A N Bird, by the company is interest free, and has no set term of repayment.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £63,000 were paid to the directors .

At the balance sheet date there was an amount outstanding to Henwar Developments Limited, a company under the common control of the directors, of £100,000 (2025 - £100,000). Interest of £11,100 (2025 - £11,100) was charged in the accounts.

During the year, purchases of £30,500 (2025 - £27,000) were made from Henwar Developments Ltd. The amount payable at the year end was £24,000 (2025 - £24,00).

The rent charged by Henwar Developments Limited in the year for use of property was £66,996 (2025 - £66,996).

Included in other creditors at the balance sheet date is £117,525 (2025 - £117,525) from a company under the control of a director for an interest free loan repayable on demand.

During the year the company purchased assets from the company directors for a value of £75,000. These amounts have been offset against the director's loan accounts

At the balance sheet date there was an amount outstanding to Bird Group of Companies Ltd totalling £4,073 (2025- £4,073) a company under the control of a director.