REGISTERED NUMBER: 05088920 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

RECYCLING ENGINEERS SERVICES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

B T E Smart

N Walton

S M Whitty

REGISTERED OFFICE:

Whitebridge Park

Meare Road

Glastonbury

BA6 9QY

REGISTERED NUMBER:

05088920 (England and Wales)

AUDITORS:

Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

204,424

150,294

CURRENT ASSETS

Stocks

583,687

526,366

Debtors

5

1,204,818

1,084,144

Cash at bank

49,484

89,617

1,837,989

1,700,127

CREDITORS

Amounts falling due within one year

6

744,912

604,095

NET CURRENT ASSETS

1,093,077

1,096,032

TOTAL ASSETS LESS CURRENT LIABILITIES

1,297,501

1,246,326

CREDITORS

Amounts falling due after more than one year

7

(71,817

)

(110,916

)

PROVISIONS FOR LIABILITIES

(47,827

)

(31,442

)

NET ASSETS

1,177,857

1,103,968

CAPITAL AND RESERVES

Called up share capital

105

105

Share premium

7,495

7,495

Retained earnings

1,170,257

1,096,368

1,177,857

1,103,968

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2025 and were signed on its behalf by:

B T E Smart - Director

1.	STATUTORY INFORMATION

Recycling Engineers Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

over the remaining term of the lease

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2024

185,350

405,909

591,259

Additions

9,750

123,218

132,968

Disposals

-

(44,376

)

(44,376

)

At 28 February 2025

195,100

484,751

679,851

DEPRECIATION

At 1 March 2024

163,647

277,318

440,965

Charge for year

18,535

60,303

78,838

Eliminated on disposal

-

(44,376

)

(44,376

)

At 28 February 2025

182,182

293,245

475,427

NET BOOK VALUE

At 28 February 2025

12,918

191,506

204,424

At 29 February 2024

21,703

128,591

150,294

The net book value of tangible fixed assets includes £ 129,723 (2024 - £ 60,200 ) in respect of assets held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

550,518

330,378

Amounts owed by group undertakings

648,181

738,661

Other debtors

6,119

15,105

1,204,818

1,084,144

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

78,489

29,729

Trade creditors

213,412

182,679

Amounts owed to group undertakings

-

13,357

Taxation and social security

152,536

166,474

Other creditors

300,475

211,856

744,912

604,095

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

71,817

59,066

Other creditors

-

51,850

71,817

110,916

8.	SECURED DEBTS

RBS holds a fixed and floating charge over all property and undertakings of the company.

The charge was created on 10th February 2021.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jane Dennis BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

10.	ULTIMATE CONTROLLING PARTY

The parent company is WICB Group Limited.

In the opinion of the directors, the ultimate controlling party is Mr Ben Smart, by means of his shareholding in the Ultimate Parent company, WICB Holdings Limited.