Recycled Packaging (Scotland) Ltd

(Registration number: SC236176)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	26,501	6,501
Current assets
Debtors	6	13,606	25,743
Cash at bank and in hand		20	960
		13,626	26,703
Creditors: Amounts falling due within one year	7	10,172	5,112
Net current assets		23,798	31,815
Total assets less current liabilities		50,299	38,316
Creditors: Amounts falling due after more than one year	7	-	(1,000)
Provisions for liabilities		(1,837)	-
Net assets		48,462	37,316
Capital and reserves
Called up share capital	8	100	100
Retained earnings		48,362	37,216
Shareholders' funds		48,462	37,316

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 October 2026
 

......................................... Paul Stephen Frazher Director

Recycled Packaging (Scotland) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
18 Garrell Road
Kilsyth
Glasgow
G65 9JX

These financial statements were authorised for issue by the director on 7 October 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Recycled Packaging (Scotland) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings, equipment	20-50% p.a. reducing balance basis
HGVs and tractor units	20-50% p.a. reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Recycled Packaging (Scotland) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2025 - 3).

4	Profit/loss before tax

Arrived at after charging/(crediting)

	2026 £	2025 £
Depreciation expense	4,495	3,500

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	274,047	93,081	367,128
Additions	-	24,495	24,495
At 31 March 2026	274,047	117,576	391,623
Depreciation
At 1 April 2025	267,547	93,080	360,627
Charge for the year	-	4,495	4,495
At 31 March 2026	267,547	97,575	365,122
Carrying amount
At 31 March 2026	6,500	20,001	26,501
At 31 March 2025	6,500	1	6,501

6

Debtors

Current	Note	2026 £	2025 £
Amounts owed by related parties		13,606	25,743
		13,606	25,743

Recycled Packaging (Scotland) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	(11,645)	(6,586)
Taxation and social security		(3,526)	(3,526)
Accruals and deferred income		3,000	3,000
Other creditors		1,999	2,000
		(10,172)	(5,112)

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordnary of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	-	1,000

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	1,000	6,000
Directors current accounts	(12,645)	(12,586)
	(11,645)	(6,586)