Company No: 14532020 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	4,278		6,611
Tangible assets	4, 5	107,320		15,000
		111,598		21,611
Current assets
Debtors	6	141,529		175,346
Cash at bank and in hand		27,681		13,069
		169,210		188,415
Creditors: amounts falling due within one year	7	( 144,637)		( 187,337)
Net current assets		24,573		1,078
Total assets less current liabilities		136,171		22,689
Creditors: amounts falling due after more than one year	8	( 77,484)		0
Provision for liabilities		( 1,736)		0
Net assets		56,951		22,689
Capital and reserves
Called-up share capital	10	1		1
Profit and loss account		56,950		22,688
Total shareholder's funds		56,951		22,689

For the financial year ending 31 January 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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Plan B Recycling Technologies Limited (registered number: 14532020) were approved and authorised for issue by the Director on 27 October 2026. They were signed on its behalf by:

W T Cross Director

1. Accounting policies

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.

General information and basis of accounting

Plan B Recycling Technologies 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 Unit 6 Seaton Park, Plymouth, Devon, United Kingdom, PL6 5WR.

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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs

3 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles

15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases and right of use assets

At the inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The lease liability is initially measured at the present value of future lease payments due over the lease term, discounted at the rate implicit in the lease or, if not readily determinable, the Company's incremental borrowing rate. Lease payments include fixed payments, variable lease payments that depend on an index or a tax and amounts reasonably expected to be payable over the life of the lease.

The right of use asset is initially measured at the initial amount of the lease liability and is adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle or restore the underlying asset, less any lease incentives received.

The lease liability is subsequently measured at amortised cost using the effective interest method, with an interest expense recognised in the profit or loss.

After initial recognition, the right of use asset is depreciated on a straight line basis over the shorter of the asset's useful life or the lease term. The right of use assets are subject to impairment reviews in accordance with the Company's policy on the impairment of non financial assets.

It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if the Company changes its assessment of whether it will exercise a purchase, extension, or termination option. When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right of use asset. In any case an equivalent adjustment is made to the carrying value of the right of use asset, with the revised carrying amount being amortised over the remaining (revised) lease term. If the carrying amount of the right of use asset is adjusted to zero, any further reduction is recognised in the profit or loss.

Financial instruments

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Government grants

Government grants are recognised based on the performance model.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		3

3. Intangible assets

	Website costs		Total
	£		£
Cost
At 01 February 2025	7,000		7,000
At 31 January 2026	7,000		7,000
Accumulated amortisation
At 01 February 2025	389		389
Charge for the financial year	2,333		2,333
At 31 January 2026	2,722		2,722
Net book value
At 31 January 2026	4,278		4,278
At 31 January 2025	6,611		6,611

4. Tangible assets

	Vehicles		Total
	£		£
Cost
At 01 February 2025	15,000		15,000
At 31 January 2026	15,000		15,000
Accumulated depreciation
At 01 February 2025	0		0
Charge for the financial year	2,250		2,250
At 31 January 2026	2,250		2,250
Net book value
At 31 January 2026	12,750		12,750
At 31 January 2025	15,000		15,000

5. Right of use assets

	Land and buildings		Total
	£		£
Cost
At 01 February 2025	0		0
Additions	97,831		97,831
At 31 January 2026	97,831		97,831
Accumulated depreciation
At 01 February 2025	0		0
Charge for the financial year	3,261		3,261
At 31 January 2026	3,261		3,261
Net book value
At 31 January 2026	94,570		94,570
At 31 January 2025	0		0

The right-of-use assets are included in the Tangible fixed assets on the balance sheet.

6. Debtors

	2026		2025
	£		£
Trade debtors	2,400		0
Amounts owed by Group undertakings	53,001		0
Other debtors	86,128		175,346
	141,529		175,346

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	45,577		27,964
Taxation and social security	32,659		15,244
Lease liabilities (note 9)	17,524		0
Other creditors	48,877		144,129
	144,637		187,337

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Lease liabilities (note 9)	77,484		0

There are no amounts included above in respect of which any security has been given by the small entity.

9. Lease liabilities

	2026		2025
	£		£
Lease liabilities due within 1 year	17,524		0
Lease liabilities due after 1 year	77,484		0
	95,008		0

The lease liabilities are included in the creditors due within 1 year and creditors due after 1 year on the balance sheet.

10. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

11. Related party transactions

Transactions with the entity's director

	2026		2025
	£		£
Balance brought forward	3,761		0
Advances in the year	15,150		3,761
Repayments in the year	(6,606)		0
Balance carried forward	12,305		3,761

The above loan is repayable on demand and incurs interest at the official rate per HMRC.

12. Ultimate controlling party

Parent Company:

Plan B Circular Group Limited

Unit 6 Seaton Park, Plymouth, Devon, United Kingdom, PL6 5WR.