Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| 274,989 | 3,522 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 620,887 | 126,624 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets/(liabilities) | 591,149 | (117,058) | ||
| Total assets less current liabilities | 866,138 | (113,536) | ||
| Provision for liabilities | 6, 7 |
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| Net assets/(liabilities) |
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| Capital and reserves | ||||
| Called-up share capital | 8 |
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| Share premium account |
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| Other reserves |
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| Profit and loss account | (
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| Total shareholders' funds/(deficit) |
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Directors' responsibilities:
The financial statements of Lithium Salvage UK Limited (registered number:
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R D Henderson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Lithium Salvage UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Low Byre Low Fawnlees Farm, Leazes Lane, Wolsingham, DL13 3LP, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The financial statements have been prepared on a going concern basis.
At the date of approval of these financial statements, the Company has limited cash reserves. The Directors have considered the Company’s expected cash requirements and the availability of additional funding, including a number of funding arrangements currently in progress. Based on this assessment, the Directors have a reasonable expectation that the Company will have adequate resources to continue in operational existence for a period of at least 12 months from the date of approval. Accordingly, the Directors have adopted the going concern basis in preparing these financial statements.
The company incurred a loss of £736,215 during the year and, as at 30 September 2025, had net assets of £866,138.
The company is currently in a development phase and has been funded through the issue of share capital during the year. The directors expect that further funding will be available as required to support the company’s ongoing activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Plant and machinery etc. | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 October 2024 |
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| Additions |
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| At 30 September 2025 |
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| Accumulated depreciation | |||
| At 01 October 2024 |
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| Charge for the financial year |
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| At 30 September 2025 |
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| Net book value | |||
| At 30 September 2025 | 274,989 | 274,989 | |
| At 30 September 2024 | 3,522 | 3,522 |
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors |
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| Other taxation and social security | (
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Deferred tax |
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| 2025 | 2024 | ||
| £ | £ | ||
| At the beginning of financial year | (
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| Credited/(charged) to the Profit and Loss Account |
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| At the end of financial year |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| 3,402 | 1,600 |
Transactions with the entity's directors
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed to the directors | 0 | 99,164 |
The loans are interest free and there are no fixed terms of repayment.