General Information
UK TEXTILE & RECYCLING LTD is a private company, limited by shares, registered in England and Wales, registration number 12975259, registration address Unit 4 Portland Industrial Estate, Ripple Road, BARKING, Essex, IG11 0TW.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Land and buildings |
0% |
| Plant and machinery etc |
20% |
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees Average number of employees during the period was 28 (2024 : 22). |
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and buildings |
|
Plant and machinery etc |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 November 2024 |
27,936 |
|
125,646 |
|
153,582 |
| Additions |
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
| At 31 October 2025 |
27,936 |
|
125,646 |
|
153,582 |
| Depreciation |
| At 01 November 2024 |
- |
|
54,427 |
|
54,427 |
| Charge for year |
- |
|
14,244 |
|
14,244 |
| On disposals |
- |
|
- |
|
- |
| At 31 October 2025 |
- |
|
68,671 |
|
68,671 |
| Net book values |
| Closing balance as at 31 October 2025 |
27,936 |
|
56,975 |
|
84,911 |
| Opening balance as at 01 November 2024 |
27,936 |
|
71,219 |
|
99,155 |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
34,925 |
|
25,775 |
|
34,925 |
|
25,775 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
58,074 |
|
243,530 |
| Amount Owed by Participating Interests |
36,738 |
|
22,080 |
| VAT |
334,592 |
|
250,639 |
|
429,404 |
|
516,249 |
|
| 5. |
Debtors: amounts falling due after one year
|
2025
£ |
|
2024
£ |
| Other Debtors - rent deposit |
97,362 |
|
97,362 |
|
97,362 |
|
97,362 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
344,291 |
|
494,407 |
| Corporation Tax |
19,610 |
|
11,677 |
| PAYE & Social Security |
40,737 |
|
38,542 |
| Other Creditors |
0 |
|
(1) |
| Wages & Salaries Control Account |
30,383 |
|
23,806 |
| Directors' Current Accounts |
22,018 |
|
45,918 |
|
457,039 |
|
614,349 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Other Creditors |
25,000 |
|
25,000 |
|
25,000 |
|
25,000 |
|
2
|