Company No: 04021981 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Jennifer Gaydon-Lownds
	Adam Mcdonald
	Ian Mcdonald
	Joan Mcdonald

SECRETARY

Jennifer Gaydon-Lownds

REGISTERED OFFICE	Aim To Recycle Abbotsford Road
	Felling
	Gateshead
	NE10 0EX
	United Kingdom

COMPANY NUMBER

04021981 (England and Wales)

ACCOUNTANT	S&W Partners Newcastle Limited
	17 Queens Lane
	Newcastle
	NE1 1RN

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	130,555		146,749
		130,555		146,749
Current assets
Stocks		14,928		37,220
Debtors	4	137,958		637,752
Cash at bank and in hand		41,354		98,045
		194,240		773,017
Creditors: amounts falling due within one year	5	( 160,082)		( 233,416)
Net current assets		34,158		539,601
Total assets less current liabilities		164,713		686,350
Provision for liabilities		( 22,448)		( 25,374)
Net assets		142,265		660,976
Capital and reserves
Called-up share capital		200		200
Profit and loss account		142,065		660,776
Total shareholder's funds		142,265		660,976

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 Ik-eco Limited (registered number: 04021981) were approved and authorised for issue by the Board of Directors on 26 November 2025. They were signed on its behalf by:

Jennifer Gaydon-Lownds 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

Ik-eco 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 Aim To Recycle Abbotsford Road, Felling, Gateshead, NE10 0EX, 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 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Ik-eco Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

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.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

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. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue arising from the provision of services is recognised by reference to the stage of completion as follows:
[include details of the specific recognition and measurement policies for each significant type of service provided]
When the stage of completion cannot be measured reliably revenue is recognised up to the extent of recoverable expenses and accordingly no profit is recognised.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 enacted or substantively enacted 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. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

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 straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	10 - 20 % reducing balance
	5 years straight line
Vehicles	20 % reducing balance
Fixtures and fittings	4 years straight line

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.

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.

Impairment of assets

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in 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.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	19		22

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 December 2023	470,234		11,995		15,374		497,603
At 30 November 2024	470,234		11,995		15,374		497,603
Accumulated depreciation
At 01 December 2023	335,874		200		14,780		350,854
Charge for the financial year	13,597		2,359		238		16,194
At 30 November 2024	349,471		2,559		15,018		367,048
Net book value
At 30 November 2024	120,763		9,436		356		130,555
At 30 November 2023	134,360		11,795		594		146,749

4. Debtors

	2024		2023
	£		£
Trade debtors	136,431		294,577
Amounts owed by Group undertakings	0		330,918
Other debtors	1,527		12,257
	137,958		637,752

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	84,192		117,658
Amounts owed to Group undertakings	30,000		0
Taxation and social security	31,781		46,407
Other creditors	14,109		69,351
	160,082		233,416

6. Ultimate controlling party

Parent Company:

Aim to Recycle Limited