Gateway Recycling Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Gateway Recycling Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10174591 . The registered office is Grove House, 55 Lowlands Road, Harrow On The Hill, Middx, HA1 3AW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis notwithstanding that, at 31 March 2026, the Company had net liabilities and net current liabilities of £94,326. Included within creditors falling due within one year is an amount of £288,606 due to Global Commodities.

Subsequent to the balance sheet date, the director has considered the Company's available liquid resources, expected trading performance and cash flow requirements. Global Commodities has confirmed that it will not seek repayment of the amount due to it until such time as the Company is able to repay the balance without compromising its ability to continue to trade and to meet its liabilities as they fall due.

On this basis, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on the going concern basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.4. Stocks and Work in Progress

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised 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 a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

2.6. Foreign Currencies

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.

At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

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Gateway Recycling Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax liabilities are generally recognised for all timing diferences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing diference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that afects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that suficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are ofset when the company has a legally enforceable right to ofset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

4. Stocks

	2026	2025
	£	£
Work in progress	343,062	243,130

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	1,113,345	902,941
Other debtors	68,895	194,810

	1,182,240	1,097,751

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	693,367	1,127,430
Bank loans and overdrafts	273,109	-
Amounts owed to participating interests	288,606	717,373
Other creditors	390,627	170,726

	1,645,709	2,015,529

7. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

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Gateway Recycling Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

8. Related Party Transactions

During the year, the company made sales of £697,959 to Ardour World Limited. At the balance sheet date, £147,750 was due from Ardour World Limited. Ardour World Limited is a related party by virtue of common ownership, as the same two shareholders each hold a 50% interest in both Gateway Recycling Limited and Ardour World Limited.

At the balance sheet date, the company owed £288,606 to Global Commodities LLC, a related party of the company.

The company also provided management services, comprising staff resource recharges, to Raw2k Limited, an entity under common control/significant influence, during the year ended 31 March 2026. Charges of £19,234.50 (2025: £Nil) were recognised within other income. At 31 March 2026, no amounts were outstanding from Raw2k Limited (2025: £Nil).

9. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

10. Presentation currency

The financial statements are presented in Sterling.

11. Audit Information

The auditor's report on the accounts of Gateway Recycling Limited for the year ended 31 March 2026 was unqualified.

The auditor's report was signed by Mr Opinder singh sawhney (Senior Statutory Auditor) for and on behalf of Sawhney Consulting Limited , Statutory Auditor.

Sawhney Consulting Limited

Harrow Business Centre

429-433 Pinner Road

Harrow

HA1 4HN

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		2026		2025
	Notes	£	£	£	£
CURRENT ASSETS
Stocks	4	343,062		243,130
Debtors	5	1,182,240		1,097,751
Cash at bank and in hand		26,081		493,486

		1,551,383		1,834,367
Creditors: Amounts Falling Due Within One Year	6	(1,645,709 )		(2,015,529 )

NET CURRENT ASSETS (LIABILITIES)			(94,326 )		(181,162 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(94,326 )		(181,162 )

NET LIABILITIES			(94,326 )		(181,162 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			(94,426 )		(181,262 )

SHAREHOLDERS' FUNDS			(94,326)		(181,162)