WF Recycle-Tech Limited - Accounts to registrar (filleted) - small 22.3

WF Recycle-Tech Limited - Accounts to registrar (filleted) - small 22.3

WF RECYCLE-TECH LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v22.4.0.132 08425527 Board of Directors 1.10.21 30.9.22 30.9.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure084255272021-09-30084255272022-09-30084255272021-10-012022-09-30084255272020-09-30084255272020-10-012021-09-30084255272021-09-3008425527ns16:EnglandWales2021-10-012022-09-3008425527ns15:PoundSterling2021-10-012022-09-3008425527ns11:Director12021-10-012022-09-3008425527ns11:PrivateLimitedCompanyLtd2021-10-012022-09-3008425527ns11:SmallEntities2021-10-012022-09-3008425527ns11:AuditExempt-NoAccountantsReport2021-10-012022-09-3008425527ns11:SmallCompaniesRegimeForDirectorsReport2021-10-012022-09-3008425527ns11:SmallCompaniesRegimeForAccounts2021-10-012022-09-3008425527ns11:FullAccounts2021-10-012022-09-3008425527ns11:Director22021-10-012022-09-3008425527ns11:Director32021-10-012022-09-3008425527ns11:Director42021-10-012022-09-3008425527ns11:RegisteredOffice2021-10-012022-09-3008425527ns6:CurrentFinancialInstruments2022-09-3008425527ns6:CurrentFinancialInstruments2021-09-3008425527ns6:ShareCapital2022-09-3008425527ns6:ShareCapital2021-09-3008425527ns6:SharePremium2022-09-3008425527ns6:SharePremium2021-09-3008425527ns6:RetainedEarningsAccumulatedLosses2022-09-3008425527ns6:RetainedEarningsAccumulatedLosses2021-09-3008425527ns6:PlantMachinery2021-10-012022-09-3008425527ns6:PlantMachinery2021-09-3008425527ns6:PlantMachinery2022-09-3008425527ns6:PlantMachinery2021-09-3008425527ns6:WithinOneYearns6:CurrentFinancialInstruments2022-09-3008425527ns6:WithinOneYearns6:CurrentFinancialInstruments2021-09-30
REGISTERED NUMBER: 08425527 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 September 2022

for

WF Recycle-Tech Limited
WF Recycle-Tech Limited (Registered number: 08425527)

Contents of the Financial Statements
for the Year Ended 30 September 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


WF Recycle-Tech Limited

Company Information
for the Year Ended 30 September 2022







DIRECTORS: M A Bevan
P H Neville
D M Hutchinson
P Lloyd





REGISTERED OFFICE: 5 Priory Court
Tuscam Way
Camberley
GU15 3YX





REGISTERED NUMBER: 08425527 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY
Page 1
WF Recycle-Tech Limited (Registered number: 08425527)

Statement of Financial Position
30 September 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 92,700 92,700

CURRENT ASSETS
Debtors 5 17,834 14,944
Cash at bank 59,211 410,078
77,045 425,022
CREDITORS
Amounts falling due within one year 6 (1,387,037 ) (1,340,836 )
NET CURRENT LIABILITIES (1,309,992 ) (915,814 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(1,217,292
)
(823,114
)

CAPITAL AND RESERVES
Called up share capital 600,000 600,000
Share premium 650,000 650,000
Retained earnings (2,467,292 ) (2,073,114 )
SHAREHOLDERS' FUNDS (1,217,292 ) (823,114 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 23 February 2023 and were signed on its behalf by:





M A Bevan - Director


The notes form part of these financial statements

Page 2
WF Recycle-Tech Limited (Registered number: 08425527)

Notes to the Financial Statements
for the Year Ended 30 September 2022


1. STATUTORY INFORMATION

WF Recycle-Tech 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - not provided

Plant and machinery is currently not being depreciated as it is not yet fully available for use.

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.

Research and development
Expenditure on research and development is written off to the Income Statement in the year in which it is incurred.

Foreign currency translation
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leasing
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

Page 3 continued...
WF Recycle-Tech Limited (Registered number: 08425527)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022


2. ACCOUNTING POLICIES - continued

Going concern
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 October 2021
and 30 September 2022 92,700
NET BOOK VALUE
At 30 September 2022 92,700
At 30 September 2021 92,700

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
VAT 9,254 7,589
Prepayments 8,580 7,355
17,834 14,944

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 354,773 372,156
Social security and other taxes 4,876 4,540
Other creditors 940,822 880,986
Accruals 86,566 83,154
1,387,037 1,340,836

7. RELATED PARTY DISCLOSURES

Included in other creditors are loans received from shareholders of £921,928 (2021: £873,691). Also included is a loan received from an associated company which is under common control for £18,894 (2021: £7,295). All loans are subject to 5% interest and repayments are due on the last business day of each calendar month provided the company has had a positive cash flow and cash at bank for each of the six months prior.

The loan from Farrel Corporation is secured by a fixed and floating charge over the plant and machinery and the intellectual property rights of the company.

Page 4